Timbercreek Financial Corp. (T:TF)
Business Focus: Corporate Financial Services (NEC)
| Sector: Financials | Industry: Corporate Financial Services |
| Company Contact | |
| Address: | 25 Price Street TORONTO ON M4W 1Z1 |
| Tel: | N/A |
| Website: | https://www.timbercreekfinancial.com |
| IR: | See website |
| Key People | ||
| R. Blair Tamblyn Chairman of the Board, Chief Executive Officer | Tracy Johnston Chief Financial Officer | Scott Rowland Chief Investment Officer of the Manager, Non Independent Director |
| Karynna Ma Vice President - Investor Relations | Patrick Smith Managing Director, Head of Global Credit | Geoff Mctait Managing Director - Canadian Originations and Global Syndications | John Walsh Corporate Secretary |
| Business Overview |
| Timbercreek Financial Corp is a Canada-based non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. The Company is focused on providing structured financing solutions to real estate owners and investors and acts as alternative asset class investment manager. The investment objective of the Company is to secure and grow a diversified portfolio of mortgage and other investments, generating an attractive risk adjusted return and monthly dividend payments to shareholders. The Company invests in a portfolio of structured mortgage loans primarily secured by income-producing commercial real estate, such as multi-residential, office and retail buildings located in urban markets across Canada. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Timbercreek Financial Corp revenues increased 22% to C$181M. Net income increased 19% to C$66.4M. Revenues reflect Interest Income on Loan-Business-Total increase of 19% to C$175M, Revenue from real estate properties increase from C$1.4M to C$6M. Net income was partially offset by Financing cost on credit facilities increase of 31% to C$30.4M (expense). |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $1,623M as of Dec 31, 2023 |
| Annual revenue (TTM): | $180.97M as of Dec 31, 2023 |
| EBITDA (TTM): | $104.47M as of Dec 31, 2023 |
| Net annual income (TTM): | $66.42M as of Dec 31, 2023 |
| Free cash flow (TTM): | $38.46M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $999.40M as of Dec 31, 2023 |
| Shares outstanding: | 83,009,516 as of Jan 8, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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