Revenue

6 Months Ended

Jun. 30, 2025

Note 12 - Revenue

Disaggregated revenue under revenue contracts with customers classified by commodity, geography and type comprised the following:


	For the three months ended				For the six months ended
	June 30,				June 30,
	2025		2024		2025		2024
Commodity
Gold⁽¹⁾	$	258.4	$	156.9	$	504.2	$	317.8
Silver		38.1		28.1		75.2		53.0
Platinum group metals⁽¹⁾		7.5		8.0		15.3		16.2
Precious metals	$	304.0	$	193.0	$	594.7	$	387.0
Iron ore⁽²⁾	$	7.2	$	12.0	$	19.6	$	26.8
Other mining assets		3.0		1.7		7.4		4.7
Other mining	$	10.2	$	13.7	$	27.0	$	31.5
Oil	$	30.6	$	35.9	$	65.5	$	62.1
Gas		16.9		10.8		34.3		23.1
Natural gas liquids		5.0		4.2		10.7		9.5
Energy	$	52.5	$	50.9	$	110.5	$	94.7
Revenue from royalty, stream and working interests	$	366.7	$	257.6	$	732.2	$	513.2
Interest from loans receivable
Interest revenue	$	2.7	$	2.2	$	5.6	$	3.1
Other interest income		—		0.3		—		0.6
	$	369.4	$	260.1	$	737.8	$	516.9
Geography
South America	$	140.7	$	93.6	$	292.2	$	194.4
Central America & Mexico		43.4		16.8		79.9		41.6
United States		60.8		51.2		119.0		98.0
Canada⁽¹⁾⁽²⁾		72.7		51.3		137.6		91.5
Rest of World		51.8		47.2		109.1		91.4
	$	369.4	$	260.1	$	737.8	$	516.9
Type
Revenue-based royalties	$	142.0	$	101.2	$	277.0	$	199.7
Streams⁽¹⁾		186.2		127.8		382.1		260.0
Profit-based royalties		28.1		17.9		53.8		31.9
Interest revenue and other⁽²⁾		13.1		13.2		24.9		25.3
	$	369.4	$	260.1	$	737.8	$	516.9

For Q2 2025, revenue includes a gain of nil for provisional pricing adjustments for gold and platinum group metals (Q2 2024 – a loss of $0.1 million and a gain of $0.2 million for gold and platinum group metals, respectively). For H1 2025, revenue includes gains of $0.1 million and $0.4 million for provisional pricing adjustments for gold and platinum group metals, respectively (H1 2024 – a gain of nil and a loss of $0.1 million, respectively).

For Q2 2025, revenue includes dividend income of $1.4 million from the Company’s equity investment in LIORC (Q2 2024 – $5.1 million). For H1 2025, revenue includes dividend income of $3.6 million from the Company’s equity investment in LIORC (H1 2024 – $7.2 million).

FRANCO NEVADA Corp 6-K