Year of Pivot Pays Off for Royal Canadian Mint

2021 was a great year for the Royal Canadian Mint (RCM), despite the ongoing effects of the pandemic, with record sales, profits, and a healthy $78.9 returned to the Canadian government, compared with $20 million the previous year.

Unlike 2020, where higher sales in bullion offset lower income in the other three business areas, and profit decreased due to the impact of COVID, the revenue increase applied to all four activities. CEO Marie Lemay had described 2021 as ‘a year of pivot’ in the last financial statement. It certainly appears to have paid off, with sales up by 40% to $3.55 billion and profit before tax and other items by 200% to $82 million, easily beating its target of $47 million.