International Petroleum Corporation
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Total Revenue | 772.1M | 913.2M | 960.2M | 1.2B | -- |
| Operating Revenue | 772.1M | 913.2M | 960.2M | 1.2B | -- |
| Cost Of Revenue | 644.0M | 703.0M | 709.7M | 725.1M | -- |
| Gross Profit | 128.1M | 210.2M | 250.5M | 516.7M | -- |
| Selling General And Administration | 16.8M | 16.1M | 18.5M | 14.4M | -- |
| General And Administrative Expense | 16.8M | 16.1M | 18.5M | 14.4M | -- |
| Other Operating Expenses | 16.5M | 14.6M | 13.4M | 10.8M | -- |
| Operating Expense | 33.3M | 30.6M | 31.9M | 25.2M | -- |
| Operating Income | 94.8M | 179.5M | 218.7M | 491.5M | -- |
| EBIT | 88.3M | 171.4M | 254.0M | 485.8M | -- |
| Interest Expense | 42.0M | 35.9M | 25.6M | 20.7M | -- |
| Interest Expense Non Operating | 42.0M | 35.9M | 25.6M | 20.7M | -- |
| Interest Income | 3.2M | 17.7M | 21.8M | 7.0M | -- |
| Interest Income Non Operating | 3.2M | 17.7M | 21.8M | 7.0M | -- |
| Net Interest Income | -54.9M | -21.7M | -7.4M | -18.5M | -- |
| Other Non Operating Income Expenses | 751,000 | 1.1M | 19.0M | -- | -- |
| Special Income Charges | -- | -- | 19.0M | 0.00 | -- |
| Pretax Income | 46.3M | 135.5M | 228.3M | 465.1M | -- |
| Tax Provision | 17.4M | 33.3M | 55.4M | 127.4M | -- |
| Tax Effect Of Unusual Items | -3.4M | -2.6M | 0.00 | 0.00 | -- |
| Net Income From Continuing And Discontinued Operation | 28.9M | 102.2M | 173.0M | 337.7M | -- |
| Net Income From Continuing Operation Net Minority Interest | 28.9M | 102.2M | 173.0M | 337.7M | -- |
| Net Income Including Noncontrolling Interests | 28.9M | 102.2M | 173.0M | 337.7M | -- |
| Minority Interests | -4,000 | -17,000 | -28,000 | -42,000 | -- |
| Net Income Common Stockholders | 28.9M | 102.2M | 173.0M | 337.7M | -- |
| Net Income | 28.9M | 102.2M | 173.0M | 337.7M | -- |
| EBITDA | 218.1M | 310.0M | 365.3M | 620.3M | -- |
| Normalized EBITDA | 227.1M | 320.8M | 365.3M | 620.3M | -- |
| Reconciled Depreciation | 129.8M | 138.6M | 111.3M | 134.4M | -- |
| Basic EPS | 0.26 | 0.82 | 1.31 | 2.30 | -- |
| Diluted EPS | 0.26 | 0.81 | 1.28 | 2.25 | -- |
| Basic Average Shares | 112.2M | 124.1M | 132.1M | 146.7M | -- |
| Diluted Average Shares | 112.2M | 126.3M | 135.3M | 150.0M | -- |
| Total Unusual Items | -9.0M | -10.8M | 19.0M | 0.00 | -- |
| Total Unusual Items Excluding Goodwill | -9.0M | -10.8M | 19.0M | 0.00 | -- |
| Tax Rate For Calcs | 0.38 | 0.25 | 0.24 | 0.27 | -- |
| Normalized Income | 34.6M | 110.3M | 173.0M | 337.7M | -- |
| Diluted NI Availto Com Stockholders | 28.9M | 102.2M | 173.0M | 337.7M | -- |
| Net Income Continuous Operations | 28.9M | 102.2M | 173.0M | 337.7M | -- |
| Net Non Operating Interest Income Expense | -54.9M | -21.7M | -7.4M | -18.5M | -- |
| Other Special Charges | -- | -- | -19.0M | -- | -- |
| Otherunder Preferred Stock Dividend | 0.00 | 0.00 | 0.00 | 0.00 | -- |
| Reconciled Cost Of Revenue | 644.0M | 703.0M | 709.7M | 725.1M | -- |
| Total Expenses | 677.3M | 733.6M | 741.6M | 750.3M | -- |
| Total Other Finance Cost | 16.1M | 3.5M | 3.6M | 4.8M | -- |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 7.0M | 246.6M | 517.1M | 487.2M | -- |
| Cash Cash Equivalents And Short Term Investments | 7.0M | 246.6M | 517.1M | 487.2M | -- |
| Cash Financial | 7.0M | 246.6M | 517.1M | 487.2M | -- |
| Accounts Receivable | 73.2M | 94.3M | 97.3M | 112.7M | -- |
| Inventory | 20.0M | 20.1M | 21.8M | 16.0M | -- |
| Current Assets | 130.3M | 398.8M | 690.6M | 638.6M | -- |
| Gross PPE | 3.5B | 3.0B | 2.7B | 2.3B | -- |
| Accumulated Depreciation | -1.7B | -1.5B | -1.4B | -1.3B | -- |
| Net PPE | 1.8B | 1.5B | 1.3B | 993.2M | -- |
| Goodwill And Other Intangible Assets | 11.7M | 13.9M | 15.4M | 5.2M | -- |
| Total Non Current Assets | 1.8B | 1.6B | 1.4B | 1.0B | -- |
| Total Assets | 2.0B | 2.0B | 2.1B | 1.7B | -- |
| Current Debt | 1.9M | 3.4M | 3.6M | 3.4M | -- |
| Current Debt And Capital Lease Obligation | 2.9M | 4.0M | 4.4M | 4.2M | -- |
| Accounts Payable | 39.4M | 42.6M | 42.8M | 20.5M | -- |
| Payables | 55.5M | 58.2M | 70.2M | 58.3M | -- |
| Current Liabilities | 160.2M | 208.1M | 202.9M | 149.9M | -- |
| Long Term Debt | 481.0M | 441.6M | 440.5M | 304.2M | -- |
| Long Term Debt And Capital Lease Obligation | 484.0M | 444.3M | 442.6M | 304.7M | -- |
| Long Term Capital Lease Obligation | 3.0M | 2.7M | 2.1M | 507,000 | -- |
| Total Non Current Liabilities Net Minority Interest | 890.2M | 806.1M | 779.8M | 564.4M | -- |
| Total Liabilities Net Minority Interest | 1.1B | 1.0B | 982.7M | 714.3M | -- |
| Common Stock | 40.9M | 141.2M | 243.4M | 338.7M | -- |
| Capital Stock | 40.9M | 141.2M | 243.4M | 338.7M | -- |
| Retained Earnings | 896.7M | 876.0M | 795.5M | 635.9M | -- |
| Common Stock Equity | 927.0M | 939.3M | 1.1B | 965.1M | -- |
| Stockholders Equity | 927.0M | 939.3M | 1.1B | 965.1M | -- |
| Total Equity Gross Minority Interest | 927.2M | 939.5M | 1.1B | 965.3M | -- |
| Minority Interest | 148,000 | 155,000 | 185,000 | 191,000 | -- |
| Total Capitalization | 1.4B | 1.4B | 1.5B | 1.3B | -- |
| Net Tangible Assets | 915.4M | 925.4M | 1.1B | 959.9M | -- |
| Tangible Book Value | 915.4M | 925.4M | 1.1B | 959.9M | -- |
| Working Capital | -29.9M | 190.8M | 487.7M | 488.7M | -- |
| Invested Capital | 1.4B | 1.4B | 1.5B | 1.3B | -- |
| Total Debt | 486.9M | 448.3M | 447.0M | 308.8M | -- |
| Net Debt | 475.9M | 198.4M | -- | -- | 92.2M |
| Share Issued | 112.2M | 119.2M | 127.0M | 136.8M | -- |
| Ordinary Shares Number | 112.2M | 119.1M | 127.0M | 136.8M | -- |
| Buildings And Improvements | -- | -- | 2.8M | 1.2M | -- |
| Capital Lease Obligations | 3.9M | 3.3M | 2.9M | 1.3M | -- |
| Current Capital Lease Obligation | 930,000 | 573,000 | 809,000 | 752,000 | -- |
| Current Provisions | 7.0M | 6.7M | 8.1M | 8.0M | -- |
| Derivative Product Liabilities | 0.00 | 562,000 | 263,000 | 0.00 | -- |
| Financial Assets | 1.3M | 0.00 | 7.0M | 0.00 | -- |
| Hedging Assets Current | 1.6M | 3.2M | 35.5M | 11.7M | -- |
| Investment Properties | 11.6M | 480,000 | 0.00 | 4.8M | -- |
| Investmentin Financial Assets | 34.5M | 34.8M | 41.5M | 35.9M | -- |
| Long Term Provisions | 284.2M | 268.5M | 250.7M | 203.4M | -- |
| Machinery Furniture Equipment | 204.9M | 204.9M | 204.9M | 204.9M | -- |
| Non Current Deferred Taxes Assets | 1.6M | 1.7M | 1.8M | 2.0M | -- |
| Non Current Deferred Taxes Liabilities | 122.0M | 92.8M | 86.3M | 56.3M | -- |
| Other Equity Interest | 19.5M | 18.1M | 18.8M | 11.3M | -- |
| Other Payable | 15.9M | 14.4M | 27.2M | 20.0M | -- |
| Other Properties | 14.3M | 2.8B | 2.5B | 2.1B | -- |
| Other Receivables | 24.0M | 33.2M | 16.2M | 10.9M | -- |
| Properties | 3.2B | -- | 0.00 | 0.00 | -- |
| Raw Materials | 20.0M | 20.1M | 21.8M | 16.0M | -- |
| Restricted Cash | -- | -- | -- | 4.0M | -- |
| Taxes Receivable | 4.4M | 1.5M | 2.7M | 18,000 | -- |
| Total Tax Payable | 216,000 | 1.1M | 255,000 | 17.8M | -- |
| Treasury Shares Number | -- | 110,156 | 0.00 | 0.00 | 1.2M |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | 194.0M | 266.1M | 346.2M | 601.8M | -- |
| Depreciation And Amortization | 129.8M | 138.6M | 111.3M | 134.4M | -- |
| Stock Based Compensation | 9.6M | 8.5M | 11.7M | 8.0M | -- |
| Deferred Tax | 17.4M | 33.3M | 55.4M | 127.4M | -- |
| Change In Working Capital | 10.4M | -47.1M | 36.1M | -13.3M | -- |
| Change In Other Current Assets | -- | -- | -- | -- | -36.1M |
| Other Non Cash Items | 60.6M | 35.3M | 21.9M | 28.9M | -- |
| Capital Expenditure | -346.2M | -435.1M | -313.2M | -157.8M | -- |
| Purchase Of PPE | -346.2M | -435.1M | -313.2M | -157.8M | -- |
| Net PPE Purchase And Sale | -346.2M | -434.9M | -293.0M | -157.8M | -- |
| Purchase Of Business | -- | 0.00 | -59.4M | 0.00 | 0.00 |
| Investing Cash Flow | -346.2M | -434.9M | -352.5M | -157.8M | -- |
| Issuance Of Debt | 488.7M | 0.00 | 137.6M | 300.0M | -- |
| Repayment Of Debt | -453.2M | -3.9M | -3.1M | -101.0M | -- |
| Net Issuance Payments Of Debt | 35.5M | -3.9M | 134.4M | 199.0M | -- |
| Repurchase Of Capital Stock | -100.3M | -102.2M | -95.4M | -80.6M | -- |
| Net Common Stock Issuance | -100.3M | -102.2M | -95.4M | -80.6M | -- |
| Common Stock Dividend Paid | -16,000 | -41,000 | -31,000 | 0.00 | -- |
| Common Stock Payments | -100.3M | -102.2M | -95.4M | -80.6M | -- |
| Financing Cash Flow | -74.5M | -107.1M | 37.6M | 11.1M | -- |
| Effect Of Exchange Rate Changes | -12.9M | 5.4M | -1.4M | 13.3M | -- |
| Changes In Cash | -226.7M | -275.9M | 31.2M | 455.1M | -- |
| Beginning Cash Position | 246.6M | 517.1M | 487.2M | 18.8M | -- |
| End Cash Position | 7.0M | 246.6M | 517.1M | 487.2M | -- |
| Free Cash Flow | -152.2M | -169.0M | 32.9M | 444.0M | -- |
| Cash Dividends Paid | -16,000 | -41,000 | -31,000 | -- | -- |
| Depreciation | 129.8M | 138.6M | 111.3M | 134.4M | -- |
| Gain Loss On Investment Securities | -- | -- | -19.0M | -- | -- |
| Gain Loss On Sale Of PPE | -- | -400,000 | -19.0M | 0.00 | -- |
| Interest Paid Cfo | -41.3M | -32.8M | -22.0M | -11.4M | -- |
| Interest Received Cfo | 3.6M | 18.6M | 20.9M | 6.7M | -- |
| Long Term Debt Issuance | 488.7M | 0.00 | 137.6M | 300.0M | -- |
| Long Term Debt Payments | -453.2M | -3.9M | -3.1M | -101.0M | -- |
| Net Business Purchase And Sale | -- | 0.00 | -59.4M | 0.00 | 0.00 |
| Net Foreign Currency Exchange Gain Loss | -14.7M | 23.4M | 1.9M | 7.9M | -- |
| Net Income From Continuing Operations | 28.9M | 102.2M | 173.0M | 337.7M | -- |
| Net Long Term Debt Issuance | 35.5M | -3.9M | 134.4M | 199.0M | -- |
| Net Other Financing Charges | -- | -964,000 | -980,000 | -101.8M | -872,000 |
| Pension And Employee Benefit Expense | 816,000 | 682,000 | 446,000 | 542,000 | -- |
| Sale Of PPE | 0.00 | 221,000 | 20.2M | 0.00 | -- |
| Taxes Refund Paid | -3.5M | -6.4M | -34.9M | -16.5M | -- |