Atrium Mortgage Investment Corporation Announces Strong Second Quarter Earnings per Share
Atrium Mortgage Investment Corporation (TSX: AI) reported strong financial results for Q2 2025, with net income reaching $13.1 million, a 13.7% increase year-over-year. The company achieved quarterly basic and diluted earnings per share of $0.28 and $0.27 respectively, up from $0.26 in the previous year.
The company maintains a high-quality mortgage portfolio valued at $921.2 million, with 96.8% in first mortgages and 94.8% of the portfolio below 75% loan-to-value. The weighted average interest rate on the portfolio stands at 9.30%, down from 9.98% at the end of 2024. The portfolio demonstrates strong risk management with an average loan-to-value of 61.3%.
Notable metrics include total assets of $899.0 million, up from $864.3 million at 2024 year-end, and an allowance for mortgage losses of $28.9 million, representing 3.14% of the mortgage portfolio.
Atrium Mortgage Investment Corporation (TSX: AI) ha riportato solidi risultati finanziari per il secondo trimestre del 2025, con un utile netto di 13,1 milioni di dollari, in crescita del 13,7% rispetto all'anno precedente. L'azienda ha registrato utili base e diluiti per azione trimestrali di 0,28 e 0,27 dollari rispettivamente, in aumento rispetto ai 0,26 dollari dell'anno precedente.
La società mantiene un portafoglio ipotecario di alta qualità valutato a 921,2 milioni di dollari, con il 96,8% costituito da prime ipoteche e il 94,8% del portafoglio con un rapporto prestito-valore inferiore al 75%. Il tasso di interesse medio ponderato sul portafoglio è del 9,30%, in calo rispetto al 9,98% registrato a fine 2024. Il portafoglio dimostra una solida gestione del rischio con un rapporto prestito-valore medio del 61,3%.
Tra i dati più rilevanti figurano attività totali per 899,0 milioni di dollari, in crescita rispetto ai 864,3 milioni di fine 2024, e un accantonamento per perdite su mutui pari a 28,9 milioni di dollari, che rappresenta il 3,14% del portafoglio ipotecario.
Atrium Mortgage Investment Corporation (TSX: AI) reportó sólidos resultados financieros para el segundo trimestre de 2025, con un ingreso neto de 13,1 millones de dólares, un aumento del 13,7% interanual. La compañía logró ganancias básicas y diluidas por acción trimestrales de 0,28 y 0,27 dólares respectivamente, frente a los 0,26 dólares del año anterior.
La empresa mantiene una cartera hipotecaria de alta calidad valorada en 921,2 millones de dólares, con un 96,8% en primeras hipotecas y un 94,8% de la cartera con un índice préstamo-valor inferior al 75%. La tasa de interés promedio ponderada de la cartera es del 9,30%, inferior al 9,98% registrado a finales de 2024. La cartera demuestra una gestión de riesgo sólida con un índice préstamo-valor promedio del 61,3%.
Entre las métricas destacadas se encuentran activos totales por 899,0 millones de dólares, en aumento desde los 864,3 millones a finales de 2024, y una provisión para pérdidas hipotecarias de 28,9 millones de dólares, que representa el 3,14% de la cartera hipotecaria.
Atrium Mortgage Investment Corporation (TSX: AI)는 2025년 2분기 강력한 재무 성과를 보고했으며, 순이익은 1,310만 달러로 전년 대비 13.7% 증가했습니다. 회사는 분기 기본 및 희석 주당순이익을 각각 0.28달러와 0.27달러로 기록했으며, 이는 전년도의 0.26달러에서 상승한 수치입니다.
회사는 1차 모기지가 96.8%를 차지하고, 포트폴리오의 94.8%가 75% 이하의 대출-가치 비율을 유지하는 9억 2,120만 달러 규모의 고품질 모기지 포트폴리오를 보유하고 있습니다. 포트폴리오의 가중 평균 이자율은 9.30%로 2024년 말의 9.98%에서 하락했습니다. 평균 대출-가치 비율이 61.3%로 강력한 리스크 관리를 보여줍니다.
주요 지표로는 2024년 말 8억 6,430만 달러에서 증가한 8억 9,900만 달러의 총 자산과 모기지 손실 충당금 2,890만 달러가 있으며, 이는 모기지 포트폴리오의 3.14%에 해당합니다.
Atrium Mortgage Investment Corporation (TSX : AI) a annoncé de solides résultats financiers pour le deuxième trimestre 2025, avec un revenu net atteignant 13,1 millions de dollars, soit une augmentation de 13,7 % par rapport à l'année précédente. La société a réalisé un bénéfice de base et dilué par action trimestriel de 0,28 $ et 0,27 $ respectivement, en hausse par rapport à 0,26 $ l'année précédente.
La société maintient un portefeuille hypothécaire de haute qualité évalué à 921,2 millions de dollars, dont 96,8 % en premières hypothèques et 94,8 % du portefeuille avec un ratio prêt-valeur inférieur à 75 %. Le taux d'intérêt moyen pondéré du portefeuille s'élève à 9,30 %, en baisse par rapport à 9,98 % à la fin de 2024. Le portefeuille témoigne d'une solide gestion des risques avec un ratio prêt-valeur moyen de 61,3 %.
Parmi les indicateurs notables figurent des actifs totaux de 899,0 millions de dollars, en hausse par rapport à 864,3 millions à la fin de 2024, ainsi qu'une provision pour pertes hypothécaires de 28,9 millions de dollars, représentant 3,14 % du portefeuille hypothécaire.
Atrium Mortgage Investment Corporation (TSX: AI) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit einem Nettoeinkommen von 13,1 Millionen Dollar, was einem Anstieg von 13,7 % im Jahresvergleich entspricht. Das Unternehmen erzielte ein einfaches und verwässertes Ergebnis je Aktie von 0,28 bzw. 0,27 Dollar, gegenüber 0,26 Dollar im Vorjahr.
Das Unternehmen hält ein hochwertiges Hypothekenportfolio im Wert von 921,2 Millionen Dollar, davon 96,8 % in Ersthypotheken und 94,8 % des Portfolios mit einem Beleihungsauslauf unter 75 %. Der gewichtete durchschnittliche Zinssatz des Portfolios liegt bei 9,30 %, gegenüber 9,98 % Ende 2024. Das Portfolio zeigt ein starkes Risikomanagement mit einem durchschnittlichen Beleihungsauslauf von 61,3 %.
Bemerkenswerte Kennzahlen sind Gesamtvermögen von 899,0 Millionen Dollar, steigend von 864,3 Millionen Dollar zum Jahresende 2024, sowie eine Rückstellung für Hypothekenverluste von 28,9 Millionen Dollar, was 3,14 % des Hypothekenportfolios entspricht.
- Net income increased by 13.7% year-over-year to $13.1 million in Q2 2025
- Basic EPS grew 7.7% to $0.28 in Q2 2025
- Strong portfolio quality with 96.8% in first mortgages and conservative 61.3% average loan-to-value
- Mortgage portfolio expanded to $921.2 million with $223.5 million in new advances
- Credit facility extended to May 15, 2027, improving financial flexibility
- Weighted average interest rate decreased to 9.30% from 9.98% at year-end 2024
- Management expects reduced new business volume in second half of 2025
- Book value per share slightly decreased to $11.02 from $11.06 year-over-year
Toronto, Ontario--(Newsfile Corp. - August 7, 2025) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB.D) (TSX: AI.DB.F) (TSX: AI.DB.G) today released its financial results for the three and six months periods ended June 30, 2025.
Highlights
Quarterly basic and diluted earnings per share of
$0.28 and$0.27 , respectively, compared with$0.26 and$0.26 in the previous yearQuarterly net income of
$13.1 million , an increase of13.7% from the previous yearMortgage portfolio of
$921.2 million Extended the credit facility to May 15, 2027
High quality mortgage portfolio
96.8% of portfolio in first mortgages94.8% of portfolio is less than75% loan-to-valueaverage loan-to-value is
61.3%
"I am pleased with our results for Q2 and for the first six months of 2025. We continue to generate earnings per share well above our dividend. Our underwriting teams had another strong quarter of loan origination, although we expect the volume of new business to taper off somewhat in the second half of 2025 due to a reduced level of market activity. We are focused on preserving a low risk profile for the overall portfolio by maintaining a conservative portfolio loan to value ratio and a very high percentage of conventional mortgages (loans no greater than
Conference call
Interested parties are invited to participate in a conference call with management on Friday, August 8, 2025, at 9:00 a.m. ET to discuss the results. To participate or listen to the conference call live, please call 1-833-491-0507 (call topic: Second quarter results). For a replay of the conference call (available until August 22, 2025) please call 1-833-607-0619, passcode 7529494#.
Results of operations
For the three months ended June 30, 2025, Atrium reported assets of
Basic and diluted earnings per common share were
Mortgages receivable as at June 30, 2025 were
Financial summary
Interim Consolidated Statements of Income and Comprehensive Income
(Unaudited, 000s, except per share amounts)
| Three months ended | Six months ended | |||||||||||
| June 30, | June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Revenue | $ | 21,185 | $ | 24,930 | $ | 43,148 | $ | 50,123 | ||||
| Mortgage servicing and management fees | (2,190 | ) | (2,170 | ) | (4,366 | ) | (4,246 | ) | ||||
| Other expenses | (794 | ) | (244 | ) | (1,145 | ) | (650 | ) | ||||
| Recovery of prior mortgage loss | 95 | 183 | 138 | 183 | ||||||||
| Provision for mortgage losses | (89 | ) | (4,365 | ) | (2,293 | ) | (8,219 | ) | ||||
| Income before financing costs | 18,207 | 18,334 | 35,482 | 37,191 | ||||||||
| Financing costs | (5,094 | ) | (6,805 | ) | (10,468 | ) | (13,621 | ) | ||||
| Net income and comprehensive income | $ | 13,113 | $ | 11,529 | $ | 25,014 | $ | 23,570 | ||||
| Basic earnings per share | $ | 0.28 | $ | 0.26 | $ | 0.53 | $ | 0.53 | ||||
| Diluted earnings per share | $ | 0.27 | $ | 0.26 | $ | 0.52 | $ | 0.53 | ||||
| Dividends declared | $ | 11,048 | $ | 9,971 | $ | 22,043 | $ | 19,902 | ||||
| Mortgages receivable, end of period | $ | 897,767 | $ | 884,401 | $ | 897,767 | $ | 884,401 | ||||
| Total assets, end of period | $ | 898,961 | $ | 885,569 | $ | 898,961 | $ | 885,569 | ||||
| Shareholders' equity, end of period | $ | 524,306 | $ | 490,455 | $ | 524,306 | $ | 490,455 | ||||
| Book value per share, end of period | $ | 11.02 | $ | 11.06 | $ | 11.02 | $ | 11.06 | ||||
Analysis of mortgage portfolio
| As at June 30, 2025 | As at December 31, 2024 | |||||||||||||||||
| Outstanding | % of | Outstanding | % of | |||||||||||||||
| Property Type | Number | amount | Portfolio | Number | amount | Portfolio | ||||||||||||
| (outstanding amounts in 000s) | ||||||||||||||||||
| High-rise residential | 19 | $ | 272,532 | 17 | $ | 247,202 | ||||||||||||
| Mid-rise residential | 16 | 113,610 | 20 | 139,738 | ||||||||||||||
| Low-rise residential | 11 | 118,017 | 12 | 152,827 | ||||||||||||||
| House and apartment | 249 | 169,167 | 219 | 154,713 | ||||||||||||||
| Condominium corporation | 6 | 1,163 | 6 | 1,279 | ||||||||||||||
| Residential portfolio | 301 | 674,489 | 274 | 695,759 | ||||||||||||||
| Commercial | 25 | 246,706 | 24 | 190,939 | ||||||||||||||
| Mortgage portfolio | 326 | $ | 921,195 | 298 | $ | 886,698 | ||||||||||||
| As at June 30, 2025 | |||||||||||||||
| Weighted | Weighted | ||||||||||||||
| Number of | Outstanding | Percentage | average | average | |||||||||||
| Location of underlying property | mortgages | amount | outstanding | loan-to-value | interest rate | ||||||||||
| (outstanding amounts in 000s) | |||||||||||||||
| Greater Toronto Area | 245 | $ | 815,260 | ||||||||||||
| Non-GTA Ontario | 67 | 53,004 | |||||||||||||
| British Columbia | 14 | 52,931 | |||||||||||||
| 326 | $ | 921,195 | |||||||||||||
| As at December 31, 2024 | |||||||||||||||
| Weighted | Weighted | ||||||||||||||
| Number of | Outstanding | Percentage | average | average | |||||||||||
| Location of underlying property | mortgages | amount | outstanding | loan-to-value | interest rate | ||||||||||
| (outstanding amounts in 000s) | |||||||||||||||
| Greater Toronto Area | 211 | $ | 791,809 | ||||||||||||
| Non-GTA Ontario | 73 | 40,816 | |||||||||||||
| British Columbia | 14 | 54,073 | |||||||||||||
| 298 | $ | 886,698 | |||||||||||||
Loan-to-value is calculated as a weighted average of the mortgage commitment, including loans outstanding, divided by the value of the underlying asset. Book value per share is calculated as shareholders' equity divided by the number of shares outstanding at the reporting date.
For further information on the financial results, and further analysis of the company's mortgage portfolio, please refer to Atrium's interim consolidated financial statements and its management's discussion and analysis for the three- and six-month periods ended June 30, 2025, available on SEDAR+ at www.sedarplus.ca, and on the company's website at www.atriummic.com.
About Atrium
Canada's Premier Non-Bank Lender™
Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters. Atrium is a Mortgage Investment Corporation (MIC) as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information about Atrium, please refer to regulatory filings available at www.sedarplus.ca or investor information on Atrium's website at www.atriummic.com.
For additional information, please contact
Robert G. Goodall
Chief Executive Officer
Jeffrey D. Sherman
Interim Chief Financial Officer
(416) 867-1053
info@atriummic.com
www.atriummic.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261731
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