GreenFirst Forest Products Inc.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Total Revenue | 284.7M | 271.3M | 446.3M | 122.6M |
| Operating Revenue | 282.9M | 284.7M | 492.1M | 133.3M |
| Cost Of Revenue | 275.7M | 291.0M | 403.2M | 109.9M |
| Gross Profit | 9.0M | -19.7M | 43.1M | 12.7M |
| Selling General And Administration | 12.1M | 17.9M | 24.3M | 8.2M |
| General And Administrative Expense | 12.1M | 17.9M | 24.3M | 8.2M |
| Other Operating Expenses | -2.7M | 592,000 | -5.0M | -195,000 |
| Operating Expense | 9.4M | 18.5M | 19.3M | 8.0M |
| Operating Income | -337,000 | -38.2M | 23.8M | 4.7M |
| EBIT | -13.4M | -38.2M | 5.8M | -7.3M |
| Interest Expense | 3.8M | 2.8M | 10.5M | 4.7M |
| Interest Expense Non Operating | 3.8M | 2.8M | 10.5M | 4.7M |
| Interest Income | 4.7M | 1.6M | 1.4M | 102,000 |
| Interest Income Non Operating | 4.7M | 1.6M | 1.4M | 102,000 |
| Net Interest Income | -1.3M | -2.1M | -12.8M | -6.2M |
| Other Income Expense | -15.5M | -685,000 | -15.8M | -10.6M |
| Other Non Operating Income Expenses | -- | -- | -5.3M | -699,000 |
| Special Income Charges | -15.5M | -971,000 | -3.2M | -9.9M |
| Restructuring And Mergern Acquisition | -- | -- | 0.00 | 9.9M |
| Gain On Sale Of Security | -- | 286,000 | -7.3M | -678,000 |
| Pretax Income | -17.2M | -41.0M | -4.8M | -12.1M |
| Tax Provision | 4.5M | -1.6M | -643,000 | -2.0M |
| Tax Effect Of Unusual Items | -2.3M | -26,482 | -1.4M | -1.8M |
| Net Income From Continuing And Discontinued Operation | -47.1M | -47.0M | -910,000 | -8.2M |
| Net Income From Continuing Operation Net Minority Interest | -21.6M | -39.4M | -4.1M | -10.0M |
| Net Income Including Noncontrolling Interests | -47.1M | -47.0M | -910,000 | -8.2M |
| Net Income Common Stockholders | -47.1M | -47.0M | -910,000 | -8.2M |
| Net Income | -47.1M | -47.0M | -910,000 | -8.2M |
| EBITDA | 3.8M | -20.8M | 26.1M | -1.3M |
| Normalized EBITDA | 19.3M | -20.1M | 36.6M | 9.3M |
| Reconciled Depreciation | 17.2M | 17.4M | 20.4M | 6.0M |
| Basic EPS | -2.61 | -25.81 | 0.00 | -0.97 |
| Diluted EPS | -2.61 | -25.81 | 0.00 | -0.97 |
| Basic Average Shares | 18.0M | 18.2M | 18.2M | 8.1M |
| Diluted Average Shares | 18.0M | 18.2M | 18.2M | 8.1M |
| Total Unusual Items | -15.5M | -685,000 | -10.4M | -10.6M |
| Total Unusual Items Excluding Goodwill | -15.5M | -685,000 | -10.4M | -10.6M |
| Tax Rate For Calcs | 0.15 | 0.04 | 0.13 | 0.17 |
| Normalized Income | -8.4M | -38.8M | 4.9M | -1.2M |
| Diluted NI Availto Com Stockholders | -47.1M | -47.0M | -910,000 | -8.2M |
| Excise Taxes | -1.9M | 13.4M | 45.9M | 10.7M |
| Gain On Sale Of Ppe | -15.5M | -971,000 | 8.0M | 0.00 |
| Net Income Continuous Operations | -21.6M | -39.4M | -4.1M | -10.0M |
| Net Income Discontinuous Operations | -25.4M | -7.6M | 3.2M | 1.9M |
| Net Non Operating Interest Income Expense | -1.3M | -2.1M | -12.8M | -6.2M |
| Other Gand A | 9.1M | 10.6M | 13.7M | 6.9M |
| Other Special Charges | -- | -- | 11.2M | -- |
| Other Taxes | -- | -- | -- | 14.9M |
| Reconciled Cost Of Revenue | 275.7M | 291.0M | 403.2M | 109.9M |
| Salaries And Wages | 2.9M | 7.3M | 10.5M | 1.3M |
| Total Expenses | 285.1M | 309.5M | 422.5M | 117.9M |
| Total Operating Income As Reported | -337,000 | -38.2M | 23.8M | 4.7M |
| Total Other Finance Cost | 2.2M | 906,000 | 3.7M | 1.6M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 27.8M | 2.4M | 25.4M | 36.2M |
| Cash Cash Equivalents And Short Term Investments | 27.8M | 2.4M | 25.4M | 36.2M |
| Accounts Receivable | 7.3M | 15.3M | 21.0M | 21.6M |
| Receivables | 16.2M | 25.8M | 40.7M | 36.0M |
| Inventory | 70.4M | 77.1M | 78.3M | 107.2M |
| Prepaid Assets | -- | -- | -- | 3.4M |
| Other Current Assets | 2.6M | 2.6M | 1.3M | 3.4M |
| Current Assets | 116.9M | 108.0M | 224.7M | 182.8M |
| Gross PPE | 130.2M | 158.2M | 136.3M | 191.5M |
| Accumulated Depreciation | -42.6M | -34.1M | -17.7M | -5.5M |
| Net PPE | 87.6M | 124.1M | 118.6M | 186.0M |
| Goodwill And Other Intangible Assets | 10.8M | 11.1M | 11.4M | 11.7M |
| Other Intangible Assets | 10.8M | 11.1M | 11.4M | 11.7M |
| Investments And Advances | 1.4M | 1.4M | 1.1M | 500,000 |
| Other Non Current Assets | -- | -- | -- | 5.2M |
| Total Non Current Assets | 103.5M | 169.9M | 146.8M | 234.6M |
| Total Assets | 220.5M | 277.9M | 371.5M | 417.4M |
| Current Debt | 4.4M | 1.6M | 9.1M | 7.9M |
| Current Debt And Capital Lease Obligation | 5.7M | 2.3M | 10.2M | 9.2M |
| Accounts Payable | 34.5M | 32.6M | 52.0M | 27.5M |
| Payables | 34.5M | 32.6M | 52.1M | 29.8M |
| Payables And Accrued Expenses | 41.6M | 45.6M | 66.1M | 38.4M |
| Current Accrued Expenses | 7.1M | 13.0M | 14.0M | 8.6M |
| Current Deferred Revenue | 1.2M | 1.1M | 837,000 | 684,000 |
| Other Current Liabilities | 4.0M | 5.6M | 8.8M | 5.8M |
| Current Liabilities | 52.6M | 54.6M | 86.0M | 54.0M |
| Long Term Debt | 12.2M | 25.2M | 45.9M | 108.9M |
| Long Term Debt And Capital Lease Obligation | 17.4M | 25.9M | 47.5M | 111.0M |
| Long Term Capital Lease Obligation | 5.2M | 653,000 | 1.5M | 2.1M |
| Other Non Current Liabilities | 19,000 | 2.5M | 6.0M | 7.4M |
| Total Non Current Liabilities Net Minority Interest | 22.3M | 38.1M | 61.0M | 132.7M |
| Total Liabilities Net Minority Interest | 74.8M | 92.7M | 147.0M | 186.8M |
| Common Stock | 274.0M | 254.7M | 254.7M | 254.7M |
| Capital Stock | 274.0M | 254.7M | 254.7M | 254.7M |
| Retained Earnings | -129.9M | -82.7M | -35.6M | -34.7M |
| Gains Losses Not Affecting Retained Earnings | 1.6M | 13.2M | 5.4M | 10.6M |
| Other Equity Adjustments | 1.6M | 13.2M | 5.4M | 10.6M |
| Common Stock Equity | 145.6M | 185.2M | 224.5M | 230.6M |
| Stockholders Equity | 145.6M | 185.2M | 224.5M | 230.6M |
| Total Equity Gross Minority Interest | 145.6M | 185.2M | 224.5M | 230.6M |
| Total Capitalization | 157.8M | 210.5M | 270.4M | 339.5M |
| Net Tangible Assets | 134.8M | 174.1M | 213.0M | 218.9M |
| Tangible Book Value | 134.8M | 174.1M | 213.0M | 218.9M |
| Working Capital | 64.4M | 53.4M | 138.7M | 128.7M |
| Invested Capital | 162.2M | 212.1M | 279.5M | 347.4M |
| Total Debt | 23.0M | 28.2M | 57.7M | 120.2M |
| Net Debt | -- | 24.4M | 29.7M | 80.6M |
| Share Issued | 22.6M | 18.2M | 18.2M | 18.2M |
| Ordinary Shares Number | 22.6M | 18.2M | 18.2M | 18.2M |
| Assets Held For Sale Current | -- | 0.00 | 79.0M | 0.00 |
| Capital Lease Obligations | 6.4M | 1.4M | 2.7M | 3.4M |
| Construction In Progress | 3.2M | 33.1M | 26.2M | 13.3M |
| Current Capital Lease Obligation | 1.3M | 746,000 | 1.2M | 1.3M |
| Current Deferred Liabilities | 1.2M | 1.1M | 837,000 | 684,000 |
| Defined Pension Benefit | 2.3M | 23.2M | 15.4M | 29.8M |
| Employee Benefits | 4.7M | 8.1M | 7.6M | 10.0M |
| Finished Goods | 26.9M | 27.5M | 27.8M | 31.5M |
| Interest Payable | 30,000 | 276,000 | 848,000 | 0.00 |
| Long Term Provisions | 200,000 | 1.6M | -- | 2.4M |
| Machinery Furniture Equipment | 94.4M | 86.2M | 71.4M | 90.6M |
| Non Current Accounts Receivable | 1.4M | -- | -- | -- |
| Non Current Deferred Assets | -- | 0.00 | 202,000 | 1.4M |
| Non Current Deferred Liabilities | -- | -- | 0.00 | 4.3M |
| Non Current Deferred Taxes Assets | -- | 0.00 | 202,000 | 0.00 |
| Non Current Deferred Taxes Liabilities | -- | -- | 0.00 | 4.3M |
| Non Current Pension And Other Postretirement Benefit Plans | 4.7M | 8.1M | 7.6M | 10.0M |
| Non Current Prepaid Assets | 0.00 | 10.1M | 0.00 | -- |
| Other Current Borrowings | 4.4M | 1.6M | 9.1M | 7.9M |
| Other Payable | -- | 178,000 | 175,000 | 2.3M |
| Other Properties | 20.3M | 11.1M | 10.5M | 15.1M |
| Other Receivables | 6.5M | 8.3M | 14.6M | 9.2M |
| Properties | 12.2M | 27.8M | 28.2M | 72.5M |
| Raw Materials | 26.9M | 35.4M | 36.1M | 54.8M |
| Receivables Adjustments Allowances | -158,000 | -285,000 | -1.5M | -158,000 |
| Taxes Receivable | 2.5M | 2.5M | 6.6M | 5.4M |
| Treasury Shares Number | -- | 0.00 | -- | -- |
| Work In Process | 16.6M | 14.2M | 14.4M | 20.9M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | -24.0M | -58.0M | 57.9M | 3.9M |
| Cash Flow From Continuing Operating Activities | -24.0M | -58.0M | 57.9M | 3.9M |
| Depreciation And Amortization | 17.2M | 17.4M | 20.4M | 6.0M |
| Depreciation Amortization Depletion | 17.2M | 17.4M | 20.4M | 6.0M |
| Stock Based Compensation | 767,000 | 928,000 | 995,000 | 249,000 |
| Deferred Tax | 4.1M | -1.7M | -2.3M | -2.0M |
| Deferred Income Tax | 4.1M | -1.7M | -2.3M | -2.0M |
| Change In Working Capital | 14.7M | -3.8M | -347,000 | 5.5M |
| Changes In Account Receivables | -- | -- | -- | -24.7M |
| Change In Receivables | 1.8M | 14.8M | -4.6M | -24.7M |
| Change In Inventory | 1.4M | -3.2M | -27.6M | -8.3M |
| Change In Payables And Accrued Expense | 11.5M | -15.4M | 31.9M | 38.4M |
| Change In Payable | 11.5M | -15.4M | -- | 38.0M |
| Change In Other Current Assets | -- | -- | -- | -101,000 |
| Other Non Cash Items | -17.8M | -7.1M | 18.1M | 6.3M |
| Capital Expenditure | -8.4M | -24.2M | -33.6M | -6.1M |
| Purchase Of PPE | -8.4M | -24.2M | -33.6M | -6.1M |
| Net PPE Purchase And Sale | -8.4M | -24.2M | -33.6M | -6.1M |
| Purchase Of Business | -- | -- | 0.00 | -245.1M |
| Purchase Of Investment | -- | -- | -- | -500,000 |
| Sale Of Investment | -- | -- | -- | 0.00 |
| Net Investment Purchase And Sale | -- | -- | 0.00 | -500,000 |
| Investing Cash Flow | 19.7M | 67.4M | 15.1M | -251.7M |
| Cash Flow From Continuing Investing Activities | 16.4M | -24.2M | -33.6M | -251.7M |
| Issuance Of Debt | 39.6M | 47.5M | 84.0M | 126.1M |
| Repayment Of Debt | -26.6M | -79.8M | -164.6M | -2.1M |
| Net Issuance Payments Of Debt | 13.0M | -32.3M | -80.6M | 124.0M |
| Issuance Of Capital Stock | 24.8M | 0.00 | 0.00 | 167.5M |
| Repurchase Of Capital Stock | -258,000 | 0.00 | -- | -- |
| Net Common Stock Issuance | 24.6M | 0.00 | 0.00 | 167.5M |
| Common Stock Payments | -258,000 | 0.00 | -- | -- |
| Financing Cash Flow | 29.7M | -32.3M | -83.7M | 278.6M |
| Cash Flow From Continuing Financing Activities | 29.7M | -32.3M | -83.7M | 278.6M |
| Changes In Cash | 25.3M | -22.9M | -10.8M | 30.9M |
| Beginning Cash Position | 2.4M | 25.4M | 36.2M | 5.3M |
| End Cash Position | 27.8M | 2.4M | 25.4M | 36.2M |
| Free Cash Flow | -32.4M | -82.2M | 24.3M | -2.2M |
| Income Tax Paid Supplemental Data | -- | 534,000 | 0.00 | 0.00 |
| Interest Paid Supplemental Data | -- | 3.0M | 9.2M | 4.5M |
| Amortization Cash Flow | -- | -- | 296,000 | 98,000 |
| Amortization Of Intangibles | -- | -- | 296,000 | 98,000 |
| Asset Impairment Charge | -4.9M | -17.8M | 25.6M | 0.00 |
| Cash From Discontinued Investing Activities | 3.2M | 91.5M | 48.7M | 0.00 |
| Cash From Discontinued Operating Activities | -- | -- | -8.0M | 0.00 |
| Change In Account Payable | 11.5M | -15.4M | -- | 38.0M |
| Common Stock Issuance | 24.8M | 0.00 | 0.00 | 167.5M |
| Depreciation | -- | -- | 20.1M | 5.9M |
| Gain Loss On Sale Of PPE | -- | -- | -8.0M | 0.00 |
| Interest Paid Cfo | -2.5M | -3.0M | -9.2M | -4.5M |
| Long Term Debt Issuance | 39.6M | 47.5M | 84.0M | 126.1M |
| Long Term Debt Payments | -26.6M | -79.8M | -164.6M | -2.1M |
| Net Business Purchase And Sale | -- | -- | 0.00 | -245.1M |
| Net Foreign Currency Exchange Gain Loss | -3.1M | 446,000 | 3.0M | 536,000 |
| Net Income From Continuing Operations | -47.1M | -47.0M | -910,000 | -8.2M |
| Net Long Term Debt Issuance | 13.0M | -32.3M | -80.6M | 124.0M |
| Net Other Financing Charges | -7.9M | -- | -3.1M | -16.2M |
| Net Other Investing Changes | 24.8M | -- | -- | -- |
| Net Short Term Debt Issuance | -- | -- | 54.0M | 0.00 |
| Operating Gains Losses | 11.6M | 4.9M | 6.1M | 536,000 |
| Pension And Employee Benefit Expense | -824,000 | 0.00 | -- | 71,000 |
| Proceeds From Stock Option Exercised | -- | -- | 0.00 | 3.3M |
| Sale Of PPE | -- | -- | 48.7M | 0.00 |
| Short Term Debt Issuance | -- | -- | 84.0M | 0.00 |
| Short Term Debt Payments | -- | -- | -30.0M | 0.00 |
| Taxes Refund Paid | 0.00 | -534,000 | 0.00 | -- |
| Unrealized Gain Loss On Investment Securities | 0.00 | -286,000 | -643,000 | 0.00 |