North American Construction Group Ltd.
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 | 1.2B | 964.7M | 769.5M | 654.1M |
| Operating Revenue | 1.2B | 964.7M | 769.5M | 654.1M |
| Cost Of Revenue | 955.7M | 809.8M | 668.0M | 563.7M |
| Gross Profit | 210.0M | 154.8M | 101.5M | 90.4M |
| Selling General And Administration | 56.0M | 56.8M | 29.9M | 35.4M |
| General And Administrative Expense | 56.0M | 56.8M | 29.9M | 35.4M |
| Operating Expense | 56.0M | 56.8M | 29.9M | 35.4M |
| Operating Income | 154.1M | 98.0M | 71.7M | 55.0M |
| EBIT | 116.4M | 121.3M | 107.9M | 78.7M |
| Interest Expense | 56.3M | 35.3M | 23.5M | 18.0M |
| Interest Expense Non Operating | 56.3M | 35.3M | 23.5M | 18.0M |
| Interest Income | -- | -- | 24,000 | 62,000 |
| Interest Income Non Operating | -- | -- | 24,000 | 62,000 |
| Net Interest Income | -59.3M | -36.9M | -24.5M | -19.0M |
| Other Income Expense | -34.7M | 24.9M | 37.3M | 24.7M |
| Special Income Charges | -54.0M | -6.3M | -536,000 | 85,000 |
| Restructuring And Mergern Acquisition | 53.2M | 4.7M | 0.00 | -- |
| Gain On Sale Of Security | 4.0M | 6.1M | 778,000 | 2.7M |
| Earnings From Equity Interest | 15.3M | 25.2M | 37.1M | 21.9M |
| Pretax Income | 60.0M | 86.0M | 84.4M | 60.7M |
| Tax Provision | 15.9M | 22.8M | 17.1M | 9.3M |
| Tax Effect Of Unusual Items | -13.3M | -73,540 | 48,927 | 431,718 |
| Net Income From Continuing And Discontinued Operation | 44.1M | 63.1M | 67.4M | 51.4M |
| Net Income From Continuing Operation Net Minority Interest | 44.1M | 63.1M | 67.4M | 51.4M |
| Net Income Including Noncontrolling Interests | 44.1M | 63.1M | 67.4M | 51.4M |
| Net Income Common Stockholders | 44.1M | 63.1M | 67.4M | 51.4M |
| Net Income | 44.1M | 63.1M | 67.4M | 51.4M |
| EBITDA | 283.1M | 252.6M | 227.2M | 186.7M |
| Normalized EBITDA | 333.1M | 252.9M | 226.9M | 183.9M |
| Reconciled Depreciation | 166.7M | 131.3M | 119.3M | 108.0M |
| Basic EPS | 1.65 | 2.38 | 2.46 | 1.81 |
| Diluted EPS | 1.52 | 2.09 | 2.15 | 1.64 |
| Basic Average Shares | 26.8M | 26.6M | 27.4M | 28.3M |
| Diluted Average Shares | 33.1M | 33.0M | 34.0M | 33.9M |
| Total Unusual Items | -50.0M | -277,000 | 242,000 | 2.8M |
| Total Unusual Items Excluding Goodwill | -50.0M | -277,000 | 242,000 | 2.8M |
| Tax Rate For Calcs | 0.27 | 0.27 | 0.20 | 0.15 |
| Normalized Income | 80.8M | 63.3M | 67.2M | 49.0M |
| Average Dilution Earnings | 6.0M | 5.9M | 5.9M | 4.4M |
| Diluted NI Availto Com Stockholders | 50.1M | 69.1M | 73.3M | 55.8M |
| Gain On Sale Of Ppe | -767,000 | -1.7M | -536,000 | 85,000 |
| Net Income Continuous Operations | 44.1M | 63.1M | 67.4M | 51.4M |
| Net Non Operating Interest Income Expense | -59.3M | -36.9M | -24.5M | -19.0M |
| Other Gand A | 56.0M | 56.8M | 29.9M | 35.4M |
| Reconciled Cost Of Revenue | 955.7M | 809.8M | 668.0M | 563.7M |
| Rent Expense Supplemental | 29.5M | 18.7M | 23.0M | 27.4M |
| Total Expenses | 1.0B | 866.7M | 697.8M | 599.1M |
| Total Operating Income As Reported | 153.3M | 96.3M | 71.2M | 55.1M |
| Total Other Finance Cost | 3.0M | 1.6M | 1.1M | 1.1M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 77.9M | 88.6M | 69.1M | 16.6M |
| Cash Cash Equivalents And Short Term Investments | 77.9M | 88.6M | 69.1M | 16.6M |
| Cash Financial | 77.9M | 88.6M | 69.1M | 16.6M |
| Accounts Receivable | 141.3M | 81.9M | 72.8M | 64.0M |
| Receivables | 170.2M | 132.9M | 99.6M | 78.5M |
| Inventory | 74.1M | 65.0M | 49.9M | 44.5M |
| Prepaid Assets | 7.7M | 7.4M | 10.6M | 6.8M |
| Current Assets | 330.5M | 295.2M | 230.4M | 147.2M |
| Gross PPE | 1.7B | 1.6B | 1.0B | 995.2M |
| Accumulated Depreciation | -482.0M | -423.3M | -387.4M | -339.5M |
| Net PPE | 1.3B | 1.2B | 660.5M | 655.7M |
| Goodwill | 520,000 | 526,000 | 543,000 | 543,000 |
| Goodwill And Other Intangible Assets | 10.4M | 7.5M | 7.3M | 4.4M |
| Other Intangible Assets | 9.9M | 7.0M | 6.8M | 3.9M |
| Investments And Advances | 84.7M | 81.4M | 75.6M | 56.0M |
| Long Term Equity Investment | 84.7M | 81.4M | 75.6M | 56.0M |
| Other Non Current Assets | -- | -- | -- | 6.0M |
| Total Non Current Assets | 1.4B | 1.3B | 749.2M | 722.1M |
| Total Assets | 1.7B | 1.5B | 979.5M | 869.3M |
| Current Debt | 92.5M | 92.7M | 42.1M | 19.7M |
| Current Debt And Capital Lease Obligation | 94.3M | 94.4M | 44.6M | 50.7M |
| Accounts Payable | 110.8M | 146.2M | 102.5M | 76.3M |
| Payables | 134.2M | 175.4M | 112.8M | 82.5M |
| Payables And Accrued Expenses | 180.4M | 207.0M | 136.2M | 107.0M |
| Current Accrued Expenses | 46.1M | 31.6M | 23.4M | 24.5M |
| Current Deferred Revenue | 1.9M | 59,000 | 1.4M | 3.3M |
| Other Current Liabilities | 39.3M | 22.5M | -- | -- |
| Current Liabilities | 315.9M | 324.0M | 192.3M | 161.0M |
| Long Term Debt | 719.4M | 611.3M | 378.5M | 306.0M |
| Long Term Debt And Capital Lease Obligation | 730.8M | 622.6M | 390.8M | 347.2M |
| Long Term Capital Lease Obligation | 11.4M | 11.3M | 12.4M | 41.1M |
| Other Non Current Liabilities | 90.2M | 96.9M | 5.4M | 5.9M |
| Total Non Current Liabilities Net Minority Interest | 989.5M | 865.8M | 481.3M | 429.8M |
| Total Liabilities Net Minority Interest | 1.3B | 1.2B | 673.6M | 590.8M |
| Common Stock | 229.0M | 229.5M | 229.5M | 246.9M |
| Capital Stock | 229.0M | 229.5M | 229.5M | 246.9M |
| Additional Paid In Capital | 20.8M | 20.7M | 22.1M | 37.5M |
| Retained Earnings | 156.1M | 123.0M | 70.5M | 11.9M |
| Treasury Stock | 15.9M | 16.2M | 16.4M | 17.8M |
| Gains Losses Not Affecting Retained Earnings | -1.1M | -407,000 | 306,000 | 2,000 |
| Other Equity Adjustments | -1.1M | -407,000 | 306,000 | 2,000 |
| Common Stock Equity | 388.9M | 356.7M | 305.9M | 278.5M |
| Stockholders Equity | 388.9M | 356.7M | 305.9M | 278.5M |
| Total Equity Gross Minority Interest | 388.9M | 356.7M | 305.9M | 278.5M |
| Total Capitalization | 1.1B | 968.0M | 684.4M | 584.5M |
| Net Tangible Assets | 378.5M | 349.2M | 298.6M | 274.1M |
| Tangible Book Value | 378.5M | 349.2M | 298.6M | 274.1M |
| Working Capital | 14.7M | -28.8M | 38.1M | -13.9M |
| Invested Capital | 1.2B | 1.1B | 726.5M | 604.2M |
| Total Debt | 825.1M | 717.1M | 435.4M | 397.9M |
| Net Debt | 734.0M | 615.4M | 351.4M | 309.1M |
| Share Issued | 27.7M | 27.8M | 27.8M | 30.0M |
| Ordinary Shares Number | 26.7M | 26.7M | 26.4M | 28.5M |
| Assets Held For Sale Current | 683,000 | 1.3M | 1.1M | 660,000 |
| Buildings And Improvements | 45.5M | 45.7M | 29.7M | 29.4M |
| Capital Lease Obligations | 13.2M | 13.0M | 14.8M | 72.2M |
| Construction In Progress | 118.8M | 84.6M | 46.0M | 38.4M |
| Current Capital Lease Obligation | 1.8M | 1.7M | 2.5M | 31.0M |
| Current Deferred Liabilities | 1.9M | 59,000 | 6.4M | 3.3M |
| Dividends Payable | 3.0M | 2.7M | 2.1M | 1.1M |
| Employee Benefits | 24.1M | 21.4M | 13.2M | 17.5M |
| Financial Assets | 4.0M | 229,000 | 778,000 | 0.00 |
| Hedging Assets Current | -- | -- | -- | 0.00 |
| Interest Payable | -- | -- | 1.5M | 1.3M |
| Land And Improvements | 10.5M | 10.5M | 10.5M | 10.5M |
| Machinery Furniture Equipment | 37.9M | 32.7M | 29.3M | 24.6M |
| Non Current Accounts Receivable | -- | -- | -- | 2.7M |
| Non Current Deferred Assets | 4.8M | 5.9M | 1.3M | 1.1M |
| Non Current Deferred Liabilities | 144.4M | 124.9M | 71.9M | 59.2M |
| Non Current Deferred Revenue | 19.0M | 16.1M | 0.00 | 3.0M |
| Non Current Deferred Taxes Assets | -- | 0.00 | 387,000 | 0.00 |
| Non Current Deferred Taxes Liabilities | 125.4M | 108.8M | 71.9M | 56.2M |
| Non Current Note Receivables | 112,000 | 350,000 | 2.4M | 914,000 |
| Non Current Prepaid Assets | 416,000 | 148,000 | 1.1M | 1.4M |
| Other Current Borrowings | 92.5M | 92.7M | 42.1M | 19.7M |
| Other Properties | 1.5B | 1.4B | 932.4M | 892.4M |
| Other Receivables | 28.9M | 50.9M | 26.8M | 14.5M |
| Pensionand Other Post Retirement Benefit Plans Current | -- | 0.00 | 5.1M | 0.00 |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| Raw Materials | 73.1M | 63.7M | 46.5M | 39.8M |
| Total Tax Payable | 20.4M | 26.5M | 8.2M | 5.1M |
| Treasury Shares Number | 1.0M | 1.1M | 1.4M | 1.6M |
| Unrealized Gain Loss | -- | -407,000 | 306,000 | 2,000 |
| Work In Process | 1.0M | 1.3M | 3.4M | 4.7M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | 217.6M | 278.1M | 169.2M | 165.2M |
| Cash Flow From Continuing Operating Activities | 217.6M | 278.1M | 169.2M | 165.2M |
| Depreciation And Amortization | 166.7M | 131.3M | 119.3M | 108.0M |
| Depreciation Amortization Depletion | 166.7M | 131.3M | 119.3M | 108.0M |
| Stock Based Compensation | 8.7M | 15.8M | 4.8M | 11.6M |
| Deferred Tax | 19.2M | 16.0M | 15.4M | 8.3M |
| Deferred Income Tax | 19.2M | 16.0M | 15.4M | 8.3M |
| Change In Working Capital | -64.5M | 50.6M | -13.3M | 671,000 |
| Changes In Account Receivables | -72.1M | 57.1M | -11.0M | -30.6M |
| Change In Receivables | -41.3M | 38.6M | -17.0M | -33.4M |
| Change In Inventory | -4.8M | -2.5M | -5.4M | -11.2M |
| Change In Payables And Accrued Expense | -22.7M | 10.2M | 11.8M | 44.9M |
| Change In Payable | -32.2M | 9.6M | 12.8M | 31.2M |
| Change In Other Working Capital | 4.8M | -2.0M | 735,000 | 1.1M |
| Other Non Cash Items | 57.4M | 3.8M | 180,000 | -1.4M |
| Capital Expenditure | -284.3M | -203.5M | -115.3M | -113.8M |
| Purchase Of PPE | -280.1M | -202.8M | -111.5M | -112.6M |
| Net PPE Purchase And Sale | -266.6M | -192.4M | -108.1M | -95.4M |
| Purchase Of Business | -3.9M | -52.1M | -2.2M | -13.4M |
| Sale Of Investment | 4.0M | 2.6M | 0.00 | 7.1M |
| Net Investment Purchase And Sale | 4.0M | 2.6M | 0.00 | 7.1M |
| Investing Cash Flow | -274.7M | -244.9M | -97.5M | -99.3M |
| Cash Flow From Continuing Investing Activities | -274.7M | -244.9M | -97.5M | -99.3M |
| Issuance Of Debt | 234.5M | 340.0M | 83.4M | 135.0M |
| Repayment Of Debt | -130.3M | -315.6M | -58.6M | -198.3M |
| Net Issuance Payments Of Debt | 104.1M | 24.4M | 24.8M | -63.3M |
| Repurchase Of Capital Stock | -6.8M | -6.0M | -36.2M | -22.0M |
| Net Common Stock Issuance | -6.8M | -6.0M | -36.2M | -22.0M |
| Common Stock Dividend Paid | -10.6M | -10.0M | -7.8M | -4.4M |
| Common Stock Payments | -6.8M | -6.0M | -36.2M | -22.0M |
| Financing Cash Flow | 46.0M | -7.7M | -19.5M | -92.8M |
| Cash Flow From Continuing Financing Activities | 46.0M | -7.7M | -19.5M | -92.8M |
| Effect Of Exchange Rate Changes | 353,000 | -6.0M | 304,000 | 2,000 |
| Changes In Cash | -11.1M | 25.5M | 52.2M | -26.8M |
| Beginning Cash Position | 88.6M | 69.1M | 16.6M | 43.4M |
| End Cash Position | 77.9M | 88.6M | 69.1M | 16.6M |
| Free Cash Flow | -66.7M | 74.6M | 53.9M | 51.4M |
| Income Tax Paid Supplemental Data | 15.9M | 1.4M | 0.00 | -- |
| Interest Paid Supplemental Data | 64.5M | 33.5M | 24.1M | 17.0M |
| Cash Dividends Paid | -10.6M | -10.0M | -7.8M | -4.4M |
| Change In Account Payable | -32.2M | 9.6M | 12.8M | 31.2M |
| Change In Accrued Expense | 9.6M | 571,000 | -989,000 | 13.7M |
| Change In Prepaid Assets | -579,000 | 6.4M | -3.5M | -735,000 |
| Depreciation | 166.7M | 131.3M | 119.3M | 108.0M |
| Dividend Received Cfo | 7.3M | 19.3M | 12.8M | 11.3M |
| Earnings Losses From Equity Investments | -15.3M | -25.2M | -37.1M | -21.9M |
| Gain Loss On Investment Securities | -4.0M | -6.1M | -778,000 | -2.7M |
| Gain Loss On Sale Of PPE | 767,000 | 1.7M | 536,000 | -85,000 |
| Long Term Debt Issuance | 234.5M | 340.0M | 83.4M | 135.0M |
| Long Term Debt Payments | -130.3M | -315.6M | -58.6M | -198.3M |
| Net Business Purchase And Sale | -3.9M | -52.1M | -2.2M | -13.4M |
| Net Foreign Currency Exchange Gain Loss | -2.8M | 7.7M | -- | -- |
| Net Income From Continuing Operations | 44.1M | 63.1M | 67.4M | 51.4M |
| Net Intangibles Purchase And Sale | -4.2M | -683,000 | -3.8M | -1.2M |
| Net Long Term Debt Issuance | 104.1M | 24.4M | 24.8M | -63.3M |
| Net Other Financing Charges | -40.7M | -16.2M | -318,000 | -3.6M |
| Net Other Investing Changes | -4.1M | -2.3M | 16.6M | 3.7M |
| Operating Gains Losses | -21.3M | -21.9M | -37.3M | -24.7M |
| Proceeds From Stock Option Exercised | -- | -- | 0.00 | 519,000 |
| Purchase Of Intangibles | -4.2M | -683,000 | -3.8M | -1.2M |
| Sale Of PPE | 13.6M | 10.4M | 3.4M | 17.1M |