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The Westaim Corporation (V:WED)

Business Focus: Property & Casualty Insurance (NEC)

Sector:  Financials Industry:  Property & Casualty Insurance
 
Company Contact
Address: 70 York Street, Suite 1700
TORONTO ON M5J 1S9
Tel: N/A
Website: https://westaim.com
IR: See website
Key People
Ian W. Delaney
Executive Chairman of the Board
J. Cameron Macdonald
President, Chief Executive Officer, Director
Glenn G. Macneil
Chief Financial Officer
Robert T. Kittel
Chief Operating Officer, Corporate Secretary
   
Business Overview
The Westaim Corporation is an investment company, which specializes in providing long-term capital to businesses operating within the global financial services industry. It invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Its strategy is to pursue investment opportunities with a focus towards the financial services industry and grow shareholder value over the long term. Its investments include significant interests in Skyward Specialty, Arena and Arena FINCOs. Skyward Specialty is a diversified specialty property and casualty insurance holding company that underwrites select property, casualty, surety, and accident and health insurance coverages. The Arena FINCOs includes specialty finance companies that purchase fundamentals-based, asset-oriented credit and other investments. Arena Investors operates as an investment manager.
Financial Overview
For the nine months ended 30 September 2023, Westaim Corp revenues decreased 27% to $7M. Net income totaled $148.9M vs. loss of $14.8M. Revenues reflect Dividend Income - Investment decrease of 44% to $4.4M, Fee income decrease of 49% to $361K. Net Income reflects Share of income (loss) from investment i increase from $630K to $3.9M (income), Professional fees decrease of 24% to $948K (expense), General.
Employees: 7 as of Dec 31, 2022
Reporting Currency: U.S. Dollars
Enterprise value: $525.17M as of Dec 31, 2023
Annual revenue (TTM): $10.92M as of Dec 31, 2023
EBITDA (TTM): -$5.94M as of Dec 31, 2023
Net annual income (TTM): $246.52M as of Dec 31, 2023
Free cash flow (TTM): -$4.00M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 129,461,885 as of Mar 26, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization