Wilmington Capital Management Inc. Reports Second Quarter and Year to Date 2025 Results
CALGARY, Alberta, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Wilmington Capital Management Inc. (TSX:WCM, WCM.B)) ("Wilmington" or the "Corporation") reports its second quarter and year-to-date 2025 financial reports and provides an operational update.
For the three and six months ended June 30, 2025, the Corporation reported a net loss of $0.3 million or ($0.02) per share and $0.4 million or ($0.03), compared to a net loss of $0.01 million or ($0.01) per share and net income of $1.2 million or $0.09 per share for the same periods in 2024, respectively.
Outlook
Beginning in August 2023, the Corporation took steps to monetize a significant number of its investments in order to unlock the embedded value which had been substantially realized, simplify its business and return capital to its shareholders. As at June 30, 2025, the Corporation had approximately $34 million of cash on hand and an 18% ownership interest in Bay Moorings Marina Holdings Limited Partnership, which owns land in Ontario being redeveloped into 50 residential sites and a condo having approximately 90 units.
The Corporation continues to review a range of alternatives aimed at providing liquidity to shareholders and maximizing the value of its public platform.
About Wilmington
Wilmington is a Canadian investment company whose principal objective historically was to seek out investment opportunities in the alternative asset classes which provided shareholders with capital appreciation over the longer term as opposed to current income returns. The Corporation invested its own capital alongside partners and co-investors, in hard assets and private equity funds and managed these assets through operating entities. Further information relating to the Corporation may be found on www.sedarplus.ca as well on the Corporation's website at www.wilmingtoncapital.ca.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)AND COMPREHENSIVE INCOME (LOSS)
(unaudited)
For the three months endedJune 30,
For the six months endedJune 30
(CDN $ thousands, except per share amounts)
2025
2024
2025
2024
Management fee revenue
---
260
---
400
Interest, distributions and other income
269
538
556
1,086
269
798
556
1,486
Expenses
General and administrative
(606
)
(822
)
(1,120
)
(1,447
)
Amortization
(7
)
(7
)
(14
)
(14
)
Finance costs
(1
)
(2
)
(2
)
(3
)
Stock-based compensation
---
---
---
(18
)
(614
)
(831
)
(1,136
)
(1,482
)
Fair value adjustments and other activities
