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Source Energy Services Ltd.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
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 674.0M 569.7M 415.9M 319.9M
Operating Revenue 674.0M 569.7M 415.9M 319.9M
Cost Of Revenue 546.6M 460.3M 357.8M 280.5M
Gross Profit 127.3M 109.4M 58.1M 39.3M
Selling General And Administration 56.3M 39.4M 26.7M 24.8M
General And Administrative Expense 45.7M 30.9M 19.9M 19.7M
Depreciation And Amortization In Income Statement 17.1M 11.8M 10.6M 9.9M
Other Operating Expenses 4.4M 4.5M 4.3M 2.8M
Operating Expense 77.8M 55.8M 41.6M 37.5M
Operating Income 49.6M 53.6M 16.5M 1.9M
EBIT 50.3M 184.4M 23.5M 5.3M
Interest Expense 32.5M 34.4M 32.3M 29.7M
Interest Expense Non Operating 32.5M 34.4M 32.3M 29.7M
Net Interest Income -34.3M -36.0M -33.1M -30.3M
Other Income Expense 2.6M 132.4M 7.8M 4.1M
Other Non Operating Income Expenses 5.0M 1.6M 2.0M 3.2M
Special Income Charges -3.6M 131.8M -3.1M -140,000
Restructuring And Mergern Acquisition 1.3M -- -- --
Write Off -- -128.6M 0.00 --
Gain On Sale Of Security 1.2M -1.1M 8.9M 999,000
Pretax Income 17.9M 150.0M -8.8M -24.4M
Tax Provision 8.3M -17.4M 0.00 0.00
Tax Effect Of Unusual Items -363,300 52.3M 0.00 0.00
Net Income From Continuing And Discontinued Operation 9.5M 167.3M -8.8M -24.4M
Net Income From Continuing Operation Net Minority Interest 9.5M 167.3M -8.8M -24.4M
Net Income Including Noncontrolling Interests 9.5M 167.3M -8.8M -24.4M
Minority Interests -- -- -- 0.00
Net Income Common Stockholders 9.5M 167.3M -8.8M -24.4M
Net Income 9.5M 167.3M -8.8M -24.4M
EBITDA 102.7M 222.0M 54.9M 36.2M
Normalized EBITDA 105.1M 91.2M 49.0M 35.4M
Reconciled Depreciation 52.4M 37.6M 31.4M 31.0M
Basic EPS 0.70 12.35 -0.65 -1.80
Diluted EPS 0.70 11.88 -0.65 -1.80
Basic Average Shares 13.5M 13.5M 13.5M 13.5M
Diluted Average Shares 13.5M 14.1M 13.5M 13.5M
Total Unusual Items -2.4M 130.7M 5.8M 859,000
Total Unusual Items Excluding Goodwill -2.4M 130.7M 5.8M 859,000
Tax Rate For Calcs 0.15 0.40 0.00 0.00
Normalized Income 11.6M 88.9M -14.6M -25.3M
Depreciation Amortization Depletion Income Statement 17.1M 11.8M 10.6M 9.9M
Depreciation Income Statement 17.1M 11.8M 10.6M 9.9M
Diluted NI Availto Com Stockholders 9.5M 167.3M -8.8M -24.4M
Gain On Sale Of Ppe 2.2M 3.3M 1.2M 63,000
Impairment Of Capital Assets 0.00 -128.6M 0.00 0.00
Net Income Continuous Operations 9.5M 167.3M -8.8M -24.4M
Net Non Operating Interest Income Expense -34.3M -36.0M -33.1M -30.3M
Other Gand A 4.4M 3.2M 3.0M 2.9M
Other Special Charges 4.5M 91,000 4.3M 203,000
Reconciled Cost Of Revenue 511.3M 434.6M 336.9M 259.4M
Rent And Landing Fees 638,000 -- 0.00 1.2M
Rent Expense Supplemental 638,000 -- 0.00 1.2M
Salaries And Wages 40.7M 27.6M 16.9M 15.6M
Selling And Marketing Expense 10.6M 8.6M 6.8M 5.1M
Total Expenses 624.4M 516.1M 399.4M 318.0M
Total Operating Income As Reported 65.3M 60.7M 17.5M 3.7M
Total Other Finance Cost 1.8M 1.6M 873,000 650,000
Line Item FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Cash And Cash Equivalents 32.7M 0.00 -- --
Cash Cash Equivalents And Short Term Investments 32.7M 0.00 -- --
Cash Financial 32.7M 0.00 -- --
Accounts Receivable 79.5M 44.0M 42.3M 43.5M
Receivables 80.8M 44.0M 42.3M 43.5M
Inventory 89.4M 85.1M 72.5M 56.3M
Prepaid Assets 9.6M 7.1M 7.7M 5.7M
Current Assets 212.6M 136.2M 122.5M 106.7M
Gross PPE 712.1M 614.6M 599.1M 518.7M
Accumulated Depreciation -355.4M -298.7M -405.6M -360.0M
Net PPE 356.7M 315.8M 193.5M 158.7M
Other Non Current Assets -- 1.0M 7.6M --
Total Non Current Assets 385.6M 346.6M 204.4M 159.3M
Total Assets 598.2M 482.8M 326.9M 266.0M
Current Debt 8.1M 17.6M -- 7.5M
Current Debt And Capital Lease Obligation 27.5M 33.8M 17.7M 19.9M
Accounts Payable 94.8M 69.7M -- --
Payables 100.1M 70.5M -- --
Payables And Accrued Expenses 100.1M 70.5M 68.4M 29.3M
Current Deferred Revenue 11.8M 2.7M 153,000 94,000
Current Liabilities 141.0M 108.4M 87.5M 50.3M
Long Term Debt 186.9M 141.5M 176.5M 175.5M
Long Term Debt And Capital Lease Obligation 247.4M 188.0M 227.2M 201.6M
Long Term Capital Lease Obligation 60.5M 46.4M 50.7M 26.1M
Total Non Current Liabilities Net Minority Interest 267.4M 205.3M 233.8M 209.2M
Total Liabilities Net Minority Interest 408.4M 313.7M 321.2M 259.5M
Common Stock 410.6M 410.6M 410.6M 410.6M
Capital Stock 410.6M 410.6M 410.6M 410.6M
Additional Paid In Capital 2.5M 2.5M 2.5M 2.5M
Retained Earnings -244.9M -254.4M -421.8M -413.0M
Gains Losses Not Affecting Retained Earnings 21.7M 10.5M 14.4M 6.5M
Other Equity Adjustments 21.7M 10.5M -- --
Common Stock Equity 189.9M 169.1M 5.7M 6.5M
Stockholders Equity 189.9M 169.1M 5.7M 6.5M
Total Equity Gross Minority Interest 189.9M 169.1M 5.7M 6.5M
Total Capitalization 376.7M 310.7M 182.2M 182.1M
Net Tangible Assets 189.9M 169.1M 5.7M 6.5M
Tangible Book Value 189.9M 169.1M 5.7M 6.5M
Working Capital 71.6M 27.8M 35.1M 56.4M
Invested Capital 384.8M 328.2M 182.2M 189.6M
Total Debt 274.9M 221.8M 244.9M 221.5M
Net Debt 162.2M 159.1M 176.5M 183.0M
Share Issued 13.5M 13.5M 13.5M 13.5M
Ordinary Shares Number 13.5M 13.5M 13.5M 13.5M
Allowance For Doubtful Accounts Receivable -402,000 -79,000 -71,000 -73,000
Capital Lease Obligations 79.9M 62.7M 68.4M 38.4M
Construction In Progress 31.6M 25.8M 26.4M 23.1M
Current Capital Lease Obligation 19.4M 16.3M 17.7M 12.4M
Current Deferred Liabilities 11.8M 2.7M 153,000 94,000
Current Provisions 1.6M 1.3M 1.2M 1.0M
Financial Assets -- -- 0.00 537,000
Finished Goods 33.8M 31.3M 29.4M 20.4M
Foreign Currency Translation Adjustments -- 10.5M 14.4M 6.5M
Gross Accounts Receivable 79.9M 44.1M 42.4M 43.6M
Hedging Assets Current -- -- 0.00 1.2M
Income Tax Payable 5.3M 888,000 -- --
Land And Improvements 237.2M 210.9M 212.8M 203.3M
Leases 13.2M 11.8M 10.0M 6.6M
Long Term Provisions 9.2M 8.2M 6.5M 7.6M
Machinery Furniture Equipment 299.8M 266.7M 263.1M 238.1M
Non Current Accounts Receivable 2.8M -- -- --
Non Current Deferred Assets 22.4M 27.6M 0.00 --
Non Current Deferred Liabilities 10.8M 9.2M 0.00 --
Non Current Deferred Revenue 1.6M 0.00 -- --
Non Current Deferred Taxes Assets 21.8M 27.6M 0.00 --
Non Current Deferred Taxes Liabilities 9.1M 9.2M 0.00 --
Non Current Prepaid Assets 3.7M 3.2M 3.3M 0.00
Other Current Borrowings 8.1M 17.6M -- 7.5M
Other Properties 81.7M 63.6M 62.0M 30.1M
Other Receivables 1.3M -- -- --
Properties 48.6M 35.7M 24.8M 17.6M
Raw Materials 3.9M 3.7M 4.2M 3.3M
Total Tax Payable 5.3M 888,000 -- --
Work In Process 51.7M 50.1M 39.0M 32.6M
Line Item FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Operating Cash Flow 94.4M 80.2M 80.2M 14.0M
Cash Flow From Continuing Operating Activities 94.4M 80.2M 80.2M 14.0M
Depreciation And Amortization 52.4M 37.6M 31.4M 31.0M
Depreciation Amortization Depletion 52.4M 37.6M 31.4M 31.0M
Stock Based Compensation 14.7M 6.8M 947,000 643,000
Deferred Tax 8.3M -17.4M 0.00 0.00
Deferred Income Tax 8.3M -17.4M 0.00 0.00
Change In Working Capital -14.9M -14.9M 23.6M -21.7M
Changes In Account Receivables -35.2M -1.4M 1.6M -9.1M
Change In Receivables -35.2M -1.4M 1.6M -9.1M
Change In Inventory 339,000 -12.6M -13.5M -6.2M
Change In Payables And Accrued Expense 13.3M -1.5M 38.3M -5.1M
Change In Other Working Capital 7.7M -- -- --
Other Non Cash Items 27.5M 32.6M 32.5M 28.8M
Capital Expenditure -43.3M -22.1M -15.2M -6.5M
Purchase Of PPE -- 0.00 -368,000 0.00
Net PPE Purchase And Sale 17.0M 9.1M 1.1M 75,000
Investing Cash Flow -27.1M -13.2M -13.9M -6.0M
Cash Flow From Continuing Investing Activities -27.1M -13.2M -13.9M -6.0M
Issuance Of Debt 908.3M 620.9M -- 13.1M
Repayment Of Debt -907.0M -666.3M -26.7M -13.2M
Net Issuance Payments Of Debt 1.3M -45.4M -26.7M -114,000
Financing Cash Flow -34.6M -67.0M -66.3M -8.0M
Cash Flow From Continuing Financing Activities -34.6M -67.0M -66.3M -8.0M
Changes In Cash 32.7M -- -- --
Beginning Cash Position 0.00 0.00 0.00 0.00
End Cash Position 32.7M 0.00 0.00 0.00
Free Cash Flow 51.1M 58.1M 65.0M 7.5M
Interest Paid Supplemental Data 27.6M 26.8M 22.6M 7.3M
Asset Impairment Charge 0.00 -128.6M 0.00 0.00
Capital Expenditure Reported -43.3M -22.1M -14.8M -6.5M
Cash Dividends Paid 0.00 0.00 0.00 0.00
Change In Prepaid Assets -1.0M 653,000 -2.9M -1.3M
Depreciation 52.4M 37.6M 31.4M 31.0M
Gain Loss On Investment Securities -- -- 1.7M -247,000
Interest Paid Cff -35.9M -29.1M -28.6M -7.9M
Long Term Debt Issuance 908.3M 620.9M -- 13.1M
Long Term Debt Payments -907.0M -666.3M -26.7M -13.2M
Net Income From Continuing Operations 9.5M 167.3M -8.8M -24.4M
Net Long Term Debt Issuance 1.3M -45.4M -26.7M -114,000
Net Other Financing Charges -- 7.5M -11.0M -7.9M
Net Other Investing Changes -701,000 -156,000 -242,000 442,000
Operating Gains Losses -2.2M -3.3M 526,000 -310,000
Sale Of PPE 17.0M 9.1M 1.5M 75,000
Taxes Refund Paid -979,000 0.00 -- --
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