High Arctic Energy Services 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 | 10.5M | 3.4M | 77.4M | 76.4M |
| Operating Revenue | 10.5M | 3.4M | 77.4M | 76.4M |
| Cost Of Revenue | 7.9M | 2.9M | 83.3M | 84.9M |
| Gross Profit | 2.6M | 490,000 | -6.0M | -8.4M |
| Selling General And Administration | 5.7M | 5.5M | 10.7M | 11.0M |
| General And Administrative Expense | 5.7M | 5.5M | 10.7M | 11.0M |
| Other Operating Expenses | -- | -- | -- | -24,000 |
| Operating Expense | 5.6M | 5.7M | 10.3M | 11.0M |
| Operating Income | -3.0M | -5.2M | -16.2M | -19.4M |
| EBIT | -1.9M | -1.7M | -25.8M | -19.2M |
| Interest Expense | 232,000 | 221,000 | 1.4M | 670,000 |
| Interest Expense Non Operating | 232,000 | 221,000 | 1.4M | 670,000 |
| Interest Income | 1.6M | 2.2M | 210,000 | 0.00 |
| Interest Income Non Operating | 1.6M | 2.2M | 210,000 | 0.00 |
| Net Interest Income | 1.3M | 2.0M | -1.3M | -706,000 |
| Other Income Expense | -454,000 | 1.3M | -9.7M | 220,000 |
| Special Income Charges | -559,000 | 802,000 | -9.5M | 417,000 |
| Restructuring And Mergern Acquisition | 551,000 | 0.00 | -- | -- |
| Gain On Sale Of Security | 795,000 | -321,000 | -191,000 | -197,000 |
| Earnings From Equity Interest | -690,000 | 803,000 | 1,000 | 0.00 |
| Pretax Income | -2.1M | -1.9M | -27.2M | -19.9M |
| Tax Provision | 9,000 | -911,000 | 8.9M | -1.3M |
| Tax Effect Of Unusual Items | 35,400 | 192,400 | -2.5M | 14,520 |
| Net Income From Continuing And Discontinued Operation | 28.3M | -13.1M | -36.6M | -18.6M |
| Net Income From Continuing Operation Net Minority Interest | -2.1M | -989,000 | -36.1M | -18.6M |
| Net Income Including Noncontrolling Interests | 28.3M | -13.1M | -36.6M | -18.6M |
| Net Income Common Stockholders | 28.3M | -13.1M | -36.6M | -18.6M |
| Net Income | 28.3M | -13.1M | -36.6M | -18.6M |
| EBITDA | 724,000 | -111,000 | -8.7M | 4.4M |
| Normalized EBITDA | 488,000 | -592,000 | 982,000 | 4.2M |
| Reconciled Depreciation | 2.6M | 1.6M | 17.1M | 23.6M |
| Basic EPS | 2.29 | -1.08 | -3.00 | -1.52 |
| Diluted EPS | 2.26 | -1.08 | -3.00 | -1.52 |
| Basic Average Shares | 12.4M | 12.2M | 12.2M | 12.2M |
| Diluted Average Shares | 12.5M | 12.7M | 12.2M | 12.2M |
| Total Unusual Items | 236,000 | 481,000 | -9.7M | 220,000 |
| Total Unusual Items Excluding Goodwill | 236,000 | 481,000 | -9.7M | 220,000 |
| Tax Rate For Calcs | 0.15 | 0.40 | 0.26 | 0.07 |
| Normalized Income | -2.3M | -1.3M | -29.0M | -18.8M |
| Diluted NI Availto Com Stockholders | 28.3M | -13.1M | -36.6M | -18.6M |
| Gain On Sale Of Business | 0.00 | 615,000 | 0.00 | -- |
| Gain On Sale Of Ppe | -8,000 | 187,000 | 134,000 | 417,000 |
| Impairment Of Capital Assets | -- | 20.5M | 9.7M | 0.00 |
| Net Income Continuous Operations | -2.1M | -989,000 | -36.1M | -18.6M |
| Net Income Discontinuous Operations | 30.4M | -12.2M | -456,000 | -- |
| Net Non Operating Interest Income Expense | 1.3M | 2.0M | -1.3M | -706,000 |
| Other Gand A | 2.7M | 2.4M | 3.0M | 3.3M |
| Provision For Doubtful Accounts | -144,000 | 147,000 | -388,000 | -24,000 |
| Reconciled Cost Of Revenue | 7.9M | 2.9M | 83.3M | 84.9M |
| Rent Expense Supplemental | -- | 8.6M | 540,000 | 126,000 |
| Salaries And Wages | 3.0M | 3.1M | 7.7M | 7.8M |
| Total Expenses | 13.4M | 8.5M | 93.6M | 95.9M |
| Total Operating Income As Reported | -3.0M | -5.2M | -16.2M | -19.4M |
| Total Other Finance Cost | 11,000 | 10,000 | 93,000 | 36,000 |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 3.1M | 50.3M | 19.6M | 12.0M |
| Cash Cash Equivalents And Short Term Investments | 3.1M | 50.3M | 19.6M | 12.0M |
| Cash Financial | -- | -- | -- | 12.0M |
| Accounts Receivable | 2.7M | 17.5M | 11.1M | 20.7M |
| Receivables | 3.8M | 18.9M | 39.6M | 21.7M |
| Inventory | 66,000 | 9.4M | 9.1M | 9.1M |
| Prepaid Assets | -- | -- | -- | 2.2M |
| Other Current Assets | 221,000 | 851,000 | 1.0M | 2.2M |
| Current Assets | 7.2M | 79.4M | 69.3M | 45.1M |
| Gross PPE | 29.5M | 179.8M | 215.0M | 378.5M |
| Accumulated Depreciation | -17.7M | -149.6M | -160.7M | -247.9M |
| Net PPE | 11.8M | 30.2M | 54.3M | 130.6M |
| Goodwill | 812,000 | 812,000 | 0.00 | -- |
| Goodwill And Other Intangible Assets | 2.3M | 2.3M | 0.00 | -- |
| Other Intangible Assets | 1.5M | 1.5M | -- | -- |
| Investments And Advances | 7.5M | 8.2M | 7.7M | 0.00 |
| Total Non Current Assets | 23.6M | 43.7M | 64.7M | 140.3M |
| Total Assets | 30.9M | 123.1M | 134.0M | 185.5M |
| Current Debt | 175,000 | 175,000 | 186,000 | 296,000 |
| Current Debt And Capital Lease Obligation | 543,000 | 1.1M | 676,000 | 1.4M |
| Accounts Payable | 883,000 | 5.4M | 1.6M | 13.4M |
| Payables | 2.2M | 7.0M | 2.2M | 14.0M |
| Payables And Accrued Expenses | 4.0M | 15.3M | 9.1M | 14.0M |
| Current Accrued Expenses | 1.8M | 8.4M | 6.9M | -- |
| Current Liabilities | 4.5M | 16.5M | 9.8M | 15.4M |
| Long Term Debt | 3.2M | 3.4M | 4.0M | 7.8M |
| Long Term Debt And Capital Lease Obligation | 4.1M | 5.2M | 5.0M | 15.1M |
| Long Term Capital Lease Obligation | 943,000 | 1.9M | 992,000 | 7.4M |
| Total Non Current Liabilities Net Minority Interest | 5.2M | 7.4M | 8.9M | 21.2M |
| Total Liabilities Net Minority Interest | 9.8M | 23.8M | 18.7M | 36.6M |
| Common Stock | 133.2M | 170.0M | 169.6M | 169.7M |
| Capital Stock | 133.2M | 170.0M | 169.6M | 169.7M |
| Additional Paid In Capital | 13.2M | 14.6M | 14.7M | 13.8M |
| Retained Earnings | -123.7M | -112.2M | -96.9M | -58.1M |
| Gains Losses Not Affecting Retained Earnings | -1.5M | 27.0M | 27.9M | 23.4M |
| Other Equity Adjustments | -1.5M | 27.0M | 27.9M | 23.4M |
| Common Stock Equity | 21.1M | 99.3M | 115.2M | 148.9M |
| Stockholders Equity | 21.1M | 99.3M | 115.2M | 148.9M |
| Total Equity Gross Minority Interest | 21.1M | 99.3M | 115.2M | 148.9M |
| Total Capitalization | 24.3M | 102.7M | 119.3M | 156.6M |
| Net Tangible Assets | 18.8M | 97.0M | 115.2M | 148.9M |
| Tangible Book Value | 18.8M | 97.0M | 115.2M | 148.9M |
| Working Capital | 2.7M | 63.0M | 59.5M | 29.7M |
| Invested Capital | 24.5M | 102.9M | 119.4M | 156.9M |
| Total Debt | 4.7M | 6.3M | 5.7M | 16.5M |
| Net Debt | 230,000 | -- | -- | -- |
| Share Issued | 12.4M | 12.3M | 12.2M | 12.2M |
| Ordinary Shares Number | 12.4M | 12.3M | 12.2M | 12.2M |
| Allowance For Doubtful Accounts Receivable | -38,000 | -192,000 | -45,000 | -701,000 |
| Available For Sale Securities | 7.5M | 8.2M | 7.7M | -- |
| Capital Lease Obligations | 1.3M | 2.8M | 1.5M | 8.4M |
| Construction In Progress | 0.00 | 310,000 | 0.00 | 7.3M |
| Current Capital Lease Obligation | 368,000 | 959,000 | 490,000 | 1.1M |
| Dividends Payable | -- | 0.00 | 243,000 | 0.00 |
| Gross Accounts Receivable | 2.8M | 17.7M | 11.1M | 21.4M |
| Income Tax Payable | 0.00 | 373,000 | 227,000 | 664,000 |
| Investmentin Financial Assets | 7.5M | 8.2M | 7.7M | 0.00 |
| Machinery Furniture Equipment | 2.4M | 2.9M | 5.0M | 12.3M |
| Non Current Accounts Receivable | -- | -- | -- | 2.0M |
| Non Current Deferred Assets | -- | -- | 0.00 | 7.7M |
| Non Current Deferred Liabilities | -- | 0.00 | 3.9M | 6.0M |
| Non Current Deferred Taxes Assets | -- | -- | 0.00 | 7.7M |
| Non Current Deferred Taxes Liabilities | -- | 0.00 | 3.9M | 6.0M |
| Non Current Note Receivables | 2.0M | 3.0M | 2.6M | 0.00 |
| Notes Receivable | 1.1M | 745,000 | 0.00 | -- |
| Other Current Borrowings | 175,000 | 175,000 | 186,000 | 296,000 |
| Other Payable | 1.3M | 1.2M | 124,000 | -- |
| Other Properties | 1.6M | 3.7M | 1.6M | 7.8M |
| Other Receivables | -- | -- | 28.0M | -- |
| Properties | 25.4M | 173.0M | 208.5M | 351.2M |
| Taxes Receivable | 0.00 | 665,000 | 482,000 | 1.0M |
| Total Tax Payable | 0.00 | 373,000 | 227,000 | 664,000 |
| Tradeand Other Payables Non Current | 1.1M | 2.1M | 0.00 | -- |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | 14.3M | 11.2M | 7.9M | -1.8M |
| Cash Flow From Continuing Operating Activities | 184,000 | -515,000 | 7.7M | -1.8M |
| Depreciation And Amortization | 2.6M | 1.6M | 17.1M | 23.6M |
| Depreciation Amortization Depletion | 2.6M | 1.6M | 17.1M | 23.6M |
| Stock Based Compensation | -391,000 | 328,000 | 784,000 | 709,000 |
| Deferred Tax | 0.00 | -915,000 | 5.2M | -2.2M |
| Deferred Income Tax | 0.00 | -915,000 | 5.2M | -2.2M |
| Change In Working Capital | -300,000 | 777,000 | 10.8M | -5.5M |
| Other Non Cash Items | 510,000 | -160,000 | 197,000 | 390,000 |
| Capital Expenditure | -1.9M | -501,000 | -4.0M | -7.2M |
| Purchase Of PPE | -- | -- | -4.1M | -7.2M |
| Net PPE Purchase And Sale | -- | -- | 7.3M | -6.0M |
| Purchase Of Business | 0.00 | -3.4M | 0.00 | -- |
| Investing Cash Flow | -23.1M | 24.2M | 6.7M | -5.6M |
| Cash Flow From Continuing Investing Activities | -997,000 | 25.6M | 6.7M | -5.6M |
| Issuance Of Debt | -- | -- | 0.00 | 8.1M |
| Repayment Of Debt | -524,000 | -869,000 | -4.7M | -11.6M |
| Net Issuance Payments Of Debt | -524,000 | -869,000 | -4.7M | -3.5M |
| Repurchase Of Capital Stock | 0.00 | -25,000 | -60,000 | -102,000 |
| Net Common Stock Issuance | 0.00 | -25,000 | -60,000 | -102,000 |
| Common Stock Dividend Paid | -37.8M | -2.2M | -2.2M | -- |
| Common Stock Payments | 0.00 | -25,000 | -60,000 | -102,000 |
| Financing Cash Flow | -39.1M | -3.9M | -6.7M | -13.4M |
| Cash Flow From Continuing Financing Activities | -38.7M | -3.0M | -6.7M | -13.4M |
| Effect Of Exchange Rate Changes | 717,000 | -720,000 | -256,000 | 197,000 |
| Changes In Cash | -47.9M | 31.5M | 7.8M | -20.8M |
| Beginning Cash Position | 50.3M | 19.6M | 12.0M | 32.6M |
| End Cash Position | 3.1M | 50.3M | 19.6M | 12.0M |
| Free Cash Flow | 12.3M | 10.7M | 3.8M | -9.0M |
| Asset Impairment Charge | -- | 20.5M | 9.7M | 0.00 |
| Capital Expenditure Reported | -1.9M | -501,000 | -4.0M | -- |
| Cash Dividends Paid | -37.8M | -2.2M | -2.2M | -9.7M |
| Cash From Discontinued Financing Activities | -446,000 | -966,000 | -- | -- |
| Cash From Discontinued Investing Activities | -22.1M | -1.4M | -32,000 | -- |
| Cash From Discontinued Operating Activities | 14.1M | 11.7M | 146,000 | -- |
| Depreciation | -- | -- | 17.7M | 23.6M |
| Earnings Losses From Equity Investments | 690,000 | -803,000 | -1,000 | 0.00 |
| Gain Loss On Sale Of Business | 0.00 | -615,000 | 0.00 | -- |
| Gain Loss On Sale Of PPE | 8,000 | -187,000 | -134,000 | -417,000 |
| Long Term Debt Issuance | -- | -- | 0.00 | 8.1M |
| Long Term Debt Payments | -524,000 | -869,000 | -4.7M | -11.6M |
| Net Business Purchase And Sale | 0.00 | -3.4M | 0.00 | -- |
| Net Foreign Currency Exchange Gain Loss | -816,000 | 481,000 | 191,000 | 197,000 |
| Net Income From Continuing Operations | -2.1M | -989,000 | -36.1M | -18.6M |
| Net Long Term Debt Issuance | -524,000 | -869,000 | -4.7M | -3.5M |
| Net Other Financing Charges | -293,000 | 117,000 | 243,000 | -- |
| Net Other Investing Changes | 950,000 | 29.6M | 10.7M | 474,000 |
| Operating Gains Losses | -118,000 | -1.1M | 56,000 | -220,000 |
| Sale Of PPE | -- | -- | 11.4M | 1.2M |