SECURE Waste Infrastructure Corp.
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 | 1.5B | 1.4B | 8.2B | 8.0B | 3.8B |
| Operating Revenue | 1.5B | 1.4B | 8.2B | 8.0B | 3.8B |
| Cost Of Revenue | 1.1B | 999.0M | 7.7B | 7.5B | 3.8B |
| Gross Profit | 421.0M | 422.0M | 512.0M | 493.0M | -60.0M |
| Selling General And Administration | 126.0M | 141.0M | 136.0M | 119.0M | 92.0M |
| General And Administrative Expense | 126.0M | 141.0M | 136.0M | 119.0M | 92.0M |
| Depreciation And Amortization In Income Statement | 8.0M | 9.0M | 9.0M | 13.0M | 15.0M |
| Other Operating Expenses | 9.0M | 8.0M | 12.0M | 10.0M | 7.0M |
| Operating Expense | 143.0M | 158.0M | 157.0M | 142.0M | 114.0M |
| Operating Income | 278.0M | 264.0M | 355.0M | 351.0M | -174.0M |
| EBIT | 224.0M | 758.0M | 339.0M | 336.0M | -223.0M |
| Interest Expense | 60.0M | 45.0M | 82.0M | 84.0M | 50.0M |
| Interest Expense Non Operating | 60.0M | 45.0M | 82.0M | 84.0M | 50.0M |
| Net Interest Income | -62.0M | -47.0M | -84.0M | -87.0M | -53.0M |
| Other Income Expense | -52.0M | 496.0M | -11.0M | -12.0M | -46.0M |
| Other Non Operating Income Expenses | -43.0M | -20.0M | -- | 25.0M | -3.0M |
| Special Income Charges | -9.0M | 516.0M | -19.0M | -37.0M | -43.0M |
| Restructuring And Mergern Acquisition | 9.0M | 4.0M | 14.0M | 37.0M | 39.0M |
| Write Off | -- | -- | -- | -- | 4.0M |
| Gain On Sale Of Security | -- | -- | 8.0M | -- | -- |
| Pretax Income | 164.0M | 713.0M | 257.0M | 252.0M | -273.0M |
| Tax Provision | 41.0M | 131.0M | 62.0M | 68.0M | -69.0M |
| Tax Effect Of Unusual Items | -2.2M | 94.8M | -2.7M | -10.0M | -10.9M |
| Net Income From Continuing And Discontinued Operation | 123.0M | 582.0M | 195.0M | 184.0M | -203.0M |
| Net Income From Continuing Operation Net Minority Interest | 123.0M | 582.0M | 195.0M | 184.0M | -203.0M |
| Net Income Including Noncontrolling Interests | 123.0M | 582.0M | 195.0M | 184.0M | -204.0M |
| Minority Interests | -- | -- | -- | 0.00 | -1.0M |
| Net Income Common Stockholders | 123.0M | 582.0M | 195.0M | 184.0M | -203.0M |
| Net Income | 123.0M | 582.0M | 195.0M | 184.0M | -203.0M |
| EBITDA | 412.0M | 931.0M | 542.0M | 514.0M | -50.0M |
| Normalized EBITDA | 421.0M | 415.0M | 553.0M | 551.0M | -7.0M |
| Reconciled Depreciation | 188.0M | 173.0M | 203.0M | 178.0M | 173.0M |
| Basic EPS | 0.55 | 2.28 | 0.66 | 0.59 | -0.87 |
| Diluted EPS | 0.54 | 2.25 | 0.65 | 0.59 | -0.87 |
| Basic Average Shares | 223.2M | 254.7M | 295.9M | 309.6M | 234.2M |
| Diluted Average Shares | 226.4M | 258.8M | 299.1M | 313.2M | 234.2M |
| Total Unusual Items | -9.0M | 516.0M | -11.0M | -37.0M | -43.0M |
| Total Unusual Items Excluding Goodwill | -9.0M | 516.0M | -11.0M | -37.0M | -43.0M |
| Tax Rate For Calcs | 0.25 | 0.18 | 0.24 | 0.27 | 0.25 |
| Normalized Income | 129.8M | 160.8M | 203.3M | 211.0M | -170.9M |
| Amortization | 2.0M | 4.0M | 4.0M | 0.00 | 1.0M |
| Amortization Of Intangibles Income Statement | 2.0M | 4.0M | 4.0M | 0.00 | 1.0M |
| Depletion Income Statement | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation Amortization Depletion Income Statement | 8.0M | 9.0M | 9.0M | 13.0M | 15.0M |
| Depreciation Income Statement | 6.0M | 5.0M | 5.0M | 13.0M | 14.0M |
| Diluted NI Availto Com Stockholders | 123.0M | 582.0M | 195.0M | 184.0M | -203.0M |
| Gain On Sale Of Business | 0.00 | 520.0M | -5.0M | -- | -- |
| Gain On Sale Of Ppe | -- | -4.0M | -- | -- | -- |
| Net Income Continuous Operations | 123.0M | 582.0M | 195.0M | 184.0M | -204.0M |
| Net Non Operating Interest Income Expense | -62.0M | -47.0M | -84.0M | -87.0M | -53.0M |
| Other Gand A | 34.0M | 35.0M | 35.0M | 28.0M | 41.0M |
| Other Special Charges | -- | 16.0M | -- | -- | -- |
| Reconciled Cost Of Revenue | 871.0M | 835.0M | 7.5B | 7.3B | 3.7B |
| Salaries And Wages | 92.0M | 106.0M | 101.0M | 91.0M | 51.0M |
| Total Expenses | 1.2B | 1.2B | 7.9B | 7.7B | 3.9B |
| Total Operating Income As Reported | 278.0M | 268.0M | 353.0M | 324.0M | -210.0M |
| Total Other Finance Cost | 2.0M | 2.0M | 2.0M | 3.0M | 3.0M |
| 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 | 22.0M | 26.0M | 12.0M | 12.0M | 10.0M |
| Cash Cash Equivalents And Short Term Investments | 22.0M | 26.0M | 12.0M | 12.0M | 10.0M |
| Cash Financial | 22.0M | 26.0M | 12.0M | 12.0M | 10.0M |
| Accounts Receivable | 452.0M | 504.0M | 357.0M | 449.0M | 345.0M |
| Receivables | 452.0M | 504.0M | 357.0M | 449.0M | 345.0M |
| Inventory | 156.0M | 143.0M | 144.0M | 100.0M | 100.0M |
| Prepaid Assets | -- | -- | -- | -- | 11.0M |
| Other Current Assets | 13.0M | 15.0M | 14.0M | 15.0M | 11.0M |
| Current Assets | 643.0M | 688.0M | 1.2B | 576.0M | 466.0M |
| Gross PPE | 3.0B | 2.6B | 3.0B | 2.9B | 2.9B |
| Accumulated Depreciation | -1.5B | -1.3B | -1.7B | -1.3B | -1.1B |
| Net PPE | 1.5B | 1.3B | 1.3B | 1.6B | 1.7B |
| Goodwill | 218.0M | 204.0M | 199.0M | 351.0M | 349.0M |
| Goodwill And Other Intangible Assets | 328.0M | 291.0M | 267.0M | 514.0M | 529.0M |
| Other Intangible Assets | 110.0M | 87.0M | 68.0M | 163.0M | 180.0M |
| Other Non Current Assets | 39.0M | 41.0M | 27.0M | 16.0M | 8.0M |
| Total Non Current Assets | 1.9B | 1.6B | 1.7B | 2.3B | 2.5B |
| Total Assets | 2.5B | 2.3B | 2.8B | 2.8B | 2.9B |
| Current Debt And Capital Lease Obligation | 32.0M | 26.0M | 27.0M | 28.0M | 27.0M |
| Accounts Payable | 464.0M | 553.0M | 377.0M | 404.0M | 279.0M |
| Payables | 471.0M | 567.0M | 377.0M | 404.0M | 279.0M |
| Payables And Accrued Expenses | 471.0M | 567.0M | 377.0M | 406.0M | 283.0M |
| Current Accrued Expenses | -- | -- | 3.0M | 2.0M | 4.0M |
| Current Deferred Revenue | 0.00 | 70.0M | 0.00 | -- | -- |
| Other Current Liabilities | 12.0M | 3.0M | 53.0M | 5.0M | 4.0M |
| Current Liabilities | 530.0M | 681.0M | 472.0M | 459.0M | 333.0M |
| Long Term Debt | 859.0M | 339.0M | 966.0M | 919.0M | 1.2B |
| Long Term Debt And Capital Lease Obligation | 988.0M | 428.0M | 1.1B | 1.0B | 1.3B |
| Long Term Capital Lease Obligation | 129.0M | 89.0M | 109.0M | 84.0M | 82.0M |
| Other Non Current Liabilities | 57.0M | 14.0M | 15.0M | 17.0M | 38.0M |
| Total Non Current Liabilities Net Minority Interest | 1.2B | 558.0M | 1.2B | 1.1B | 1.5B |
| Total Liabilities Net Minority Interest | 1.7B | 1.2B | 1.7B | 1.6B | 1.8B |
| Common Stock | 595.0M | 863.0M | 1.5B | 1.7B | 1.7B |
| Capital Stock | 595.0M | 863.0M | 1.5B | 1.7B | 1.7B |
| Retained Earnings | 105.0M | 71.0M | -412.0M | -490.0M | -636.0M |
| Gains Losses Not Affecting Retained Earnings | 29.0M | 34.0M | 27.0M | 30.0M | 24.0M |
| Common Stock Equity | 792.0M | 1.0B | 1.2B | 1.3B | 1.1B |
| Stockholders Equity | 792.0M | 1.0B | 1.2B | 1.3B | 1.1B |
| Total Equity Gross Minority Interest | 792.0M | 1.0B | 1.2B | 1.3B | 1.1B |
| Minority Interest | -- | -- | -- | -- | 0.00 |
| Total Capitalization | 1.7B | 1.4B | 2.2B | 2.2B | 2.3B |
| Net Tangible Assets | 464.0M | 751.0M | 919.0M | 752.0M | 577.0M |
| Tangible Book Value | 464.0M | 751.0M | 919.0M | 752.0M | 577.0M |
| Working Capital | 113.0M | 7.0M | 718.0M | 117.0M | 133.0M |
| Invested Capital | 1.7B | 1.4B | 2.2B | 2.2B | 2.3B |
| Total Debt | 1.0B | 454.0M | 1.1B | 1.0B | 1.3B |
| Net Debt | 837.0M | 313.0M | 954.0M | 907.0M | 1.2B |
| Share Issued | 217.4M | 234.1M | 287.6M | 309.4M | 308.2M |
| Ordinary Shares Number | 217.4M | 234.1M | 287.6M | 309.4M | 308.2M |
| Assets Held For Sale Current | -- | 0.00 | 663.0M | 0.00 | -- |
| Buildings And Improvements | 105.0M | 55.0M | 61.0M | 51.0M | 52.0M |
| Capital Lease Obligations | 161.0M | 115.0M | 136.0M | 112.0M | 109.0M |
| Construction In Progress | 106.0M | 69.0M | 42.0M | 45.0M | 35.0M |
| Current Capital Lease Obligation | 32.0M | 26.0M | 27.0M | 28.0M | 27.0M |
| Current Deferred Liabilities | 0.00 | 70.0M | 0.00 | -- | -- |
| Current Provisions | 15.0M | 15.0M | 15.0M | 20.0M | 19.0M |
| Foreign Currency Translation Adjustments | 29.0M | 34.0M | 27.0M | 30.0M | 24.0M |
| Interest Payable | -- | -- | 3.0M | 2.0M | 4.0M |
| Inventories Adjustments Allowances | -- | 0.00 | -1.0M | 0.00 | -- |
| Land And Improvements | 240.0M | 225.0M | 290.0M | 286.0M | 291.0M |
| Long Term Provisions | 152.0M | 110.0M | 96.0M | 95.0M | 171.0M |
| Machinery Furniture Equipment | 2.2B | 2.0B | 2.4B | 2.3B | 2.3B |
| Non Current Deferred Assets | -- | 0.00 | 89.0M | 150.0M | 217.0M |
| Non Current Deferred Liabilities | 9.0M | 6.0M | 0.00 | -- | 0.00 |
| Non Current Deferred Taxes Assets | -- | 0.00 | 89.0M | 150.0M | 217.0M |
| Non Current Deferred Taxes Liabilities | 9.0M | 6.0M | 0.00 | -- | 0.00 |
| Other Equity Interest | 63.0M | 74.0M | 54.0M | 50.0M | 48.0M |
| Other Inventories | 45.0M | 13.0M | 5.0M | 33.0M | 26.0M |
| Other Properties | 288.0M | 208.0M | 215.0M | 216.0M | 224.0M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Raw Materials | 111.0M | 130.0M | 140.0M | 67.0M | 74.0M |
| Total Tax Payable | 7.0M | 14.0M | 0.00 | -- | -- |
| 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 | 273.0M | 497.0M | 430.0M | 411.0M | 74.0M |
| Cash Flow From Continuing Operating Activities | 273.0M | 497.0M | 430.0M | 411.0M | 74.0M |
| Depreciation And Amortization | 170.0M | 152.0M | -- | -- | -- |
| Depreciation Amortization Depletion | 188.0M | 173.0M | 203.0M | 178.0M | 173.0M |
| Stock Based Compensation | 30.0M | 34.0M | 26.0M | 19.0M | 13.0M |
| Deferred Tax | 0.00 | 103.0M | 62.0M | 68.0M | -69.0M |
| Deferred Income Tax | 0.00 | 103.0M | 62.0M | 68.0M | -69.0M |
| Change In Working Capital | -105.0M | 86.0M | -44.0M | 8.0M | -102.0M |
| Other Non Cash Items | 93.0M | 80.0M | 75.0M | 46.0M | 56.0M |
| Capital Expenditure | -225.0M | -134.0M | -203.0M | -96.0M | -43.0M |
| Purchase Of PPE | -225.0M | -134.0M | -203.0M | -96.0M | -43.0M |
| Net PPE Purchase And Sale | -218.0M | 1.0B | -203.0M | -40.0M | -35.0M |
| Purchase Of Business | -161.0M | -38.0M | 0.00 | -6.0M | -- |
| Sale Of Business | -- | -- | -- | -- | 10.0M |
| Investing Cash Flow | -365.0M | 954.0M | -155.0M | -58.0M | -43.0M |
| Cash Flow From Continuing Investing Activities | -365.0M | 954.0M | -155.0M | -58.0M | -43.0M |
| Issuance Of Debt | 525.0M | 300.0M | 70.0M | 0.00 | 341.0M |
| Repayment Of Debt | -27.0M | -971.0M | -47.0M | -334.0M | -337.0M |
| Net Issuance Payments Of Debt | 498.0M | -671.0M | 23.0M | -334.0M | 4.0M |
| Repurchase Of Capital Stock | -284.0M | -657.0M | -163.0M | -6.0M | 0.00 |
| Net Common Stock Issuance | -284.0M | -657.0M | -163.0M | -6.0M | 0.00 |
| Common Stock Dividend Paid | -89.0M | -104.0M | -117.0M | -38.0M | -7.0M |
| Common Stock Payments | -284.0M | -657.0M | -163.0M | -6.0M | 0.00 |
| Financing Cash Flow | 90.0M | -1.4B | -272.0M | -346.0M | -26.0M |
| Cash Flow From Continuing Financing Activities | 90.0M | -1.4B | -272.0M | -346.0M | -26.0M |
| Effect Of Exchange Rate Changes | -2.0M | -2.0M | -3.0M | -5.0M | -2.0M |
| Changes In Cash | -2.0M | 16.0M | 3.0M | 7.0M | 5.0M |
| Beginning Cash Position | 26.0M | 12.0M | 12.0M | 10.0M | 7.0M |
| End Cash Position | 22.0M | 26.0M | 12.0M | 12.0M | 10.0M |
| Free Cash Flow | 48.0M | 363.0M | 227.0M | 315.0M | 31.0M |
| Income Tax Paid Supplemental Data | 41.0M | 13.0M | 0.00 | -- | -- |
| Amortization Cash Flow | 38.0M | 33.0M | -- | -- | -- |
| Amortization Of Intangibles | 38.0M | 33.0M | -- | -- | -- |
| Asset Impairment Charge | -- | -- | -- | 0.00 | 269.0M |
| Cash Dividends Paid | -89.0M | -104.0M | -117.0M | -38.0M | -7.0M |
| Depletion | 18.0M | 21.0M | -- | -- | -- |
| Depreciation | 132.0M | 119.0M | -- | -- | -- |
| Interest Paid Cfo | -56.0M | -41.0M | -87.0M | -92.0M | -61.0M |
| Long Term Debt Issuance | 525.0M | 300.0M | 70.0M | 0.00 | 341.0M |
| Long Term Debt Payments | -27.0M | -971.0M | -47.0M | -334.0M | -337.0M |
| Net Business Purchase And Sale | -161.0M | -38.0M | 0.00 | -6.0M | 10.0M |
| Net Income From Continuing Operations | 123.0M | 582.0M | 195.0M | 184.0M | -204.0M |
| Net Long Term Debt Issuance | 498.0M | -671.0M | 23.0M | -334.0M | 4.0M |
| Net Other Financing Charges | -35.0M | -3.0M | -15.0M | 32.0M | -23.0M |
| Net Other Investing Changes | 14.0M | -17.0M | 48.0M | -12.0M | -18.0M |
| Net Short Term Debt Issuance | -- | -- | -- | -- | -57.0M |
| Operating Gains Losses | -- | -520.0M | -- | -- | -- |
| Sale Of PPE | 7.0M | 1.1B | 48.0M | 56.0M | 8.0M |
| Taxes Refund Paid | -- | -- | -- | 0.00 | -1.0M |