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Mullen Group Ltd.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
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 2.1B 2.0B 2.0B 2.0B 1.5B
Operating Revenue 2.1B 2.0B 2.0B 2.0B 1.5B
Cost Of Revenue 1.6B 1.5B 1.5B 1.5B 1.2B
Gross Profit 493.6M 472.7M 473.9M 459.0M 308.1M
Selling General And Administration 324.3M 271.4M 261.6M 241.6M 185.7M
Other Operating Expenses 24,000 23,000 23,000 24,000 24,000
Operating Expense 324.4M 271.4M 261.6M 241.6M 185.7M
Operating Income 169.2M 201.3M 212.3M 217.4M 122.4M
EBIT 180.7M 202.1M 221.0M 246.3M 126.8M
Interest Expense 60.9M 48.3M 37.8M 35.4M 30.8M
Interest Expense Non Operating 60.9M 48.3M 37.8M 35.4M 30.8M
Interest Income 6.5M 6.1M 794,000 395,000 422,000
Interest Income Non Operating 6.5M 6.1M 794,000 395,000 422,000
Net Interest Income -54.5M -42.2M -37.1M -35.0M -30.4M
Other Income Expense 5.0M -5.3M 7.9M 28.6M 4.0M
Special Income Charges -3.5M -517,000 1.7M 27.9M 435,000
Restructuring And Mergern Acquisition -- -- -- 0.00 -150,000
Gain On Sale Of Security 8.8M -5.6M 4.5M -10.7M 1.9M
Earnings From Equity Interest -210,000 779,000 1.7M 11.4M 1.7M
Pretax Income 119.8M 153.8M 183.1M 210.9M 96.0M
Tax Provision 28.7M 41.5M 46.4M 52.3M 23.6M
Tax Effect Of Unusual Items 1.3M -1.6M 1.6M 4.3M 571,581
Net Income From Continuing And Discontinued Operation 91.1M 112.3M 136.7M 158.6M 72.4M
Net Income From Continuing Operation Net Minority Interest 91.1M 112.3M 136.7M 158.6M 72.4M
Net Income Including Noncontrolling Interests 91.1M 112.3M 136.7M 158.6M 72.4M
Net Income Common Stockholders 91.1M 112.3M 136.7M 158.6M 72.4M
Net Income 91.1M 112.3M 136.7M 158.6M 72.4M
EBITDA 327.1M 333.0M 336.9M 358.8M 240.8M
Normalized EBITDA 321.9M 339.1M 330.7M 341.6M 238.4M
Reconciled Depreciation 146.4M 130.9M 115.9M 112.5M 114.0M
Basic EPS 1.03 1.28 1.52 1.70 0.75
Diluted EPS 1.00 1.23 1.45 1.62 0.75
Basic Average Shares 88.3M 87.9M 89.9M 93.4M 96.1M
Diluted Average Shares 96.3M 97.2M 99.1M 102.4M 96.1M
Total Unusual Items 5.2M -6.1M 6.2M 17.2M 2.3M
Total Unusual Items Excluding Goodwill 5.2M -6.1M 6.2M 17.2M 2.3M
Tax Rate For Calcs 0.24 0.27 0.25 0.25 0.25
Normalized Income 87.1M 116.7M 132.1M 145.7M 70.7M
Diluted NI Availto Com Stockholders 91.1M 112.3M 136.7M 158.6M 72.4M
Gain On Sale Of Business -- -- 0.00 -81,000 0.00
Gain On Sale Of Ppe -3.5M -517,000 1.7M 27.9M 285,000
Net Income Continuous Operations 91.1M 112.3M 136.7M 158.6M 72.4M
Net Non Operating Interest Income Expense -54.5M -42.2M -37.1M -35.0M -30.4M
Reconciled Cost Of Revenue 1.6B 1.5B 1.5B 1.5B 1.2B
Total Expenses 2.0B 1.8B 1.8B 1.8B 1.4B
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 144.6M 126.3M 2.3M 8.8M 0.00
Cash Cash Equivalents And Short Term Investments 144.6M 126.3M 2.3M 8.8M 0.00
Cash Equivalents -- -- 0.00 0.00 --
Cash Financial -- -- 2.3M 8.8M 0.00
Accounts Receivable 260.6M 256.4M 245.4M 257.0M 214.5M
Receivables 319.2M 299.8M 287.0M 290.4M 254.9M
Inventory 45.1M 45.7M 47.7M 42.0M 35.1M
Prepaid Assets 28.2M 22.6M 22.2M 19.1M 19.1M
Current Assets 563.8M 494.4M 383.3M 360.3M 309.1M
Gross PPE 2.3B 2.2B 2.0B 1.9B 1.9B
Accumulated Depreciation -963.3M -946.5M -890.1M -834.1M -810.6M
Net PPE 1.3B 1.3B 1.1B 1.1B 1.1B
Goodwill 447.7M 374.2M 367.1M 366.0M 358.7M
Goodwill And Other Intangible Assets 640.3M 486.4M 458.1M 465.6M 457.9M
Other Intangible Assets 192.6M 112.2M 91.0M 99.6M 99.2M
Investments And Advances 43.3M 44.2M 43.2M 45.6M 38.5M
Long Term Equity Investment 41.6M 42.5M 42.2M -- --
Other Investments 1.7M 1.7M 1.0M 45.6M 38.5M
Other Non Current Assets 17.3M 5.9M 2.3M 2.0M 1.3M
Total Non Current Assets 2.0B 1.8B 1.7B 1.6B 1.6B
Total Assets 2.6B 2.3B 2.0B 2.0B 1.9B
Current Debt 26,000 25,000 316.6M 23.0M 89.1M
Current Debt And Capital Lease Obligation 45.9M 43.5M 342.2M 44.0M 107.0M
Accounts Payable 71.0M 54.5M 55.2M 53.6M 55.2M
Payables 214.2M 169.5M 160.2M 176.0M 151.3M
Payables And Accrued Expenses 214.2M 169.5M 160.2M 176.0M 151.3M
Current Liabilities 260.1M 212.9M 502.4M 220.0M 258.3M
Long Term Debt 791.5M 769.8M 349.1M 597.4M 575.0M
Long Term Debt And Capital Lease Obligation 1.0B 954.1M 421.9M 668.3M 638.3M
Long Term Capital Lease Obligation 217.1M 184.3M 72.8M 70.9M 63.4M
Total Non Current Liabilities Net Minority Interest 1.2B 1.1B 564.4M 802.7M 775.0M
Total Liabilities Net Minority Interest 1.4B 1.3B 1.1B 1.0B 1.0B
Common Stock 909.0M 797.8M 801.3M 845.3M 853.6M
Capital Stock 909.0M 797.8M 801.3M 845.3M 853.6M
Additional Paid In Capital 30.7M 20.9M 20.1M 18.6M 22.6M
Retained Earnings 197.7M 184.8M 142.1M 97.5M 2.3M
Gains Losses Not Affecting Retained Earnings 3.0M 4.3M 2.3M 2.9M 1.1M
Other Equity Adjustments 3.0M 4.3M 2.3M 2.9M 1.1M
Common Stock Equity 1.1B 1.0B 974.9M 973.4M 888.7M
Stockholders Equity 1.1B 1.0B 974.9M 973.4M 888.7M
Total Equity Gross Minority Interest 1.1B 1.0B 974.9M 973.4M 888.7M
Total Capitalization 1.9B 1.8B 1.3B 1.6B 1.5B
Net Tangible Assets 500.2M 530.4M 516.8M 507.8M 430.8M
Tangible Book Value 500.2M 530.4M 516.8M 507.8M 430.8M
Working Capital 303.6M 281.5M -119.1M 140.3M 50.8M
Invested Capital 1.9B 1.8B 1.6B 1.6B 1.6B
Total Debt 1.1B 997.6M 764.1M 712.3M 745.3M
Net Debt 646.9M 643.5M 663.4M 611.7M 664.1M
Share Issued 95.7M 87.7M 88.1M 93.0M 94.5M
Ordinary Shares Number 95.7M 87.7M 88.1M 93.0M 94.5M
Allowance For Doubtful Accounts Receivable -4.9M -9.5M -9.4M -10.3M -5.8M
Available For Sale Securities -- 1.7M 1.0M -- --
Capital Lease Obligations 263.0M 227.8M 98.4M 91.9M 81.3M
Current Capital Lease Obligation 45.9M 43.4M 25.6M 21.0M 17.9M
Dividends Payable 6.7M 6.1M 5.3M 5.6M 3.8M
Duefrom Related Parties Current 100,000 -- 1.2M 1.8M --
Dueto Related Parties Current 3,000 5,000 0.00 30,000 1,000
Financial Assets 0.00 30.6M 19.3M 46.4M 37.4M
Finished Goods -- -- -- 16.0M 11.9M
Gross Accounts Receivable 265.6M 265.9M 254.8M 267.3M 220.3M
Hedging Assets Current 26.6M 0.00 24.0M 0.00 --
Investmentin Financial Assets -- 1.7M 1.0M -- --
Investmentsin Associatesat Cost -- 42.5M 42.2M -- --
Land And Improvements 686.6M 659.2M 651.8M 637.4M 630.7M
Leases 320.8M 268.9M 127.4M 99.9M 81.3M
Line Of Credit -- 0.00 73.0M 22.8M 89.0M
Long Term Provisions 1.7M 1.7M 1.6M 1.5M 1.6M
Machinery Furniture Equipment -- -- -- 797.2M 795.8M
Non Current Accounts Receivable -- -- 170,000 151,000 89,000
Non Current Deferred Assets 1.0M 7.1M 7.3M 6.7M 9.6M
Non Current Deferred Liabilities 159.5M 146.9M 140.9M 132.9M 135.1M
Non Current Deferred Taxes Assets 1.0M 7.1M 7.3M 6.7M 9.6M
Non Current Deferred Taxes Liabilities 159.5M 146.9M 140.9M 132.9M 135.1M
Non Current Note Receivables -- -- -- 0.00 651,000
Non Current Prepaid Assets -- -- -- 0.00 3.4M
Other Current Borrowings 26,000 25,000 243.6M 213,000 54,000
Other Equity Interest -- 9.1M 9.1M 9.1M 9.1M
Other Payable 133.1M 104.5M 96.0M 97.4M 89.0M
Other Properties 390.7M 412.0M 386.6M 369.0M 366.9M
Other Receivables 40.9M 35.9M 31.4M 26.1M 34.4M
Properties -- -- -- 0.00 0.00
Raw Materials -- -- -- 26.0M 23.2M
Taxes Receivable 17.6M 7.5M 9.0M 5.5M 6.0M
Total Tax Payable 3.3M 4.3M 3.8M 19.4M 3.3M
Treasury Shares Number -- -- 0.00 -- --
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 306.0M 296.1M 276.7M 263.0M 198.0M
Cash Flow From Continuing Operating Activities 306.0M 296.1M 276.7M 263.0M 198.0M
Depreciation And Amortization 146.4M 130.9M 115.9M 112.5M 114.0M
Depreciation Amortization Depletion 146.4M 130.9M 115.9M 112.5M 114.0M
Stock Based Compensation 1.3M 914,000 1.1M 743,000 379,000
Deferred Tax 28.7M 41.5M 46.4M 52.3M 23.6M
Deferred Income Tax 28.7M 41.5M 46.4M 52.3M 23.6M
Change In Working Capital 40.5M 1.7M 13.9M -28.9M -5.6M
Other Non Cash Items 54.5M 42.2M 37.1M -4.3M 27.1M
Capital Expenditure -95.8M -71.6M -101.6M -81.4M -68.2M
Purchase Of PPE -95.8M -71.5M -101.6M -81.4M -68.2M
Net PPE Purchase And Sale -77.9M -56.3M -88.8M -32.8M -47.5M
Purchase Of Business -181.6M -59.1M -25.6M -25.6M -207.5M
Sale Of Business -- -- 0.00 16.5M 0.00
Sale Of Investment 2.4M 534,000 2.1M 255,000 1.0M
Net Investment Purchase And Sale 2.4M 534,000 2.1M 255,000 1.0M
Investing Cash Flow -251.2M -111.9M -109.9M -37.0M -255.6M
Cash Flow From Continuing Investing Activities -251.2M -111.9M -109.9M -37.0M -255.6M
Issuance Of Debt 390.9M 399.3M 50.2M -- 89.0M
Repayment Of Debt -292.2M -332.8M -52.0M -98.0M -17.6M
Net Issuance Payments Of Debt 98.6M 66.5M -1.8M -98.0M 71.5M
Issuance Of Capital Stock 2.3M 931,000 0.00 -- --
Repurchase Of Capital Stock -11.5M -6.5M -72.0M -22.9M -44.3M
Net Common Stock Issuance -9.2M -5.6M -72.0M -22.9M -44.3M
Common Stock Dividend Paid -74.0M -66.8M -64.8M -61.6M -45.1M
Common Stock Payments -11.5M -6.5M -72.0M -22.9M -44.3M
Financing Cash Flow -44.0M -51.6M -174.0M -215.1M -46.3M
Cash Flow From Continuing Financing Activities -44.0M -51.6M -174.0M -215.1M -46.3M
Effect Of Exchange Rate Changes 7.6M -8.6M 731,000 -2.1M -1.4M
Changes In Cash 10.8M 132.6M -7.2M 10.8M -103.9M
Beginning Cash Position 126.3M 2.3M 8.8M 0.00 105.3M
End Cash Position 144.6M 126.3M 2.3M 8.8M 0.00
Free Cash Flow 210.2M 224.6M 175.1M 181.6M 129.8M
Amortization Cash Flow 22.3M 14.5M 13.5M -- --
Amortization Of Intangibles 22.3M 14.5M 13.5M -- --
Cash Dividends Paid -74.0M -66.8M -64.8M -61.6M -45.1M
Common Stock Issuance 2.3M 931,000 0.00 -- --
Depreciation 124.1M 116.4M 102.4M -- --
Dividends Received Cfi 705,000 450,000 1.1M 490,000 99,000
Earnings Losses From Equity Investments 210,000 -779,000 -1.7M -- -1.7M
Gain Loss On Sale Of PPE 3.5M 517,000 -1.7M -- -285,000
Interest Paid Cff -59.1M -45.7M -35.4M -32.8M -28.3M
Interest Received Cfi 6.5M 6.1M 794,000 395,000 422,000
Long Term Debt Issuance 390.9M 399.3M 50.2M -- 89.0M
Long Term Debt Payments -292.2M -259.8M -52.0M -31.8M -17.6M
Net Business Purchase And Sale -181.6M -59.1M -25.6M -9.1M -207.5M
Net Foreign Currency Exchange Gain Loss -15.1M 12.9M -4.4M 11.5M 659,000
Net Income From Continuing Operations 91.1M 112.3M 136.7M 158.6M 72.4M
Net Intangibles Purchase And Sale 0.00 -50,000 0.00 -- --
Net Long Term Debt Issuance 98.6M 139.5M -1.8M -31.8M 71.5M
Net Other Financing Charges -308,000 -37,000 -54,000 148,000 -9,000
Net Other Investing Changes -1.2M -3.6M 543,000 3.7M -2.1M
Net Short Term Debt Issuance 0.00 -73.0M 50.2M -66.2M --
Operating Gains Losses -11.3M 12.7M -7.8M 11.5M 659,000
Purchase Of Intangibles 0.00 -50,000 0.00 -- --
Sale Of PPE 17.9M 15.2M 12.8M 48.6M 20.7M
Short Term Debt Issuance -- -- 50.2M -- --
Short Term Debt Payments 0.00 -73.0M -- -66.2M --
Taxes Refund Paid -45.0M -45.4M -66.2M -39.5M -34.6M
Unrealized Gain Loss On Investment Securities -113,000 -675,000 -310,000 -- -1.2M
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