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Tree Island Steel Ltd.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024 Q3 2024Sep 30, 2024
Total Revenue 38.7M 44.5M 53.3M 47.9M 54.9M
Operating Revenue 38.7M 44.5M 53.3M 47.9M 54.9M
Cost Of Revenue 36.9M 40.6M 49.3M 47.6M 52.9M
Gross Profit 1.8M 3.9M 4.0M 298,000 2.1M
Selling General And Administration 2.9M 3.1M 3.3M 3.5M 3.3M
Operating Expense 2.9M 3.1M 3.3M 3.5M 3.3M
Operating Income -1.1M 729,000 660,000 -3.2M -1.3M
EBIT -1.5M 606,000 501,000 -3.0M -1.3M
Interest Expense 600,000 521,000 499,000 521,000 647,000
Interest Expense Non Operating 600,000 521,000 499,000 521,000 647,000
Interest Income 46,000 25,000 26,000 37,000 80,000
Interest Income Non Operating 46,000 25,000 26,000 37,000 80,000
Net Interest Income -576,000 -515,000 -486,000 -497,000 -579,000
Other Income Expense -462,000 -128,000 -172,000 170,000 -122,000
Other Non Operating Income Expenses -350,000 -217,000 -182,000 -- -33,000
Special Income Charges -47,000 -46,000 2,000 7,000 0.00
Restructuring And Mergern Acquisition -- -- -- 0.00 33,000
Gain On Sale Of Security -65,000 135,000 8,000 163,000 -89,000
Pretax Income -2.1M 85,000 2,000 -3.5M -2.0M
Tax Provision 0.00 0.00 0.00 -185,000 -144,000
Tax Effect Of Unusual Items 0.00 0.00 0.00 9,027 -6,440
Net Income From Continuing And Discontinued Operation -2.1M 85,000 2,000 -3.3M -1.8M
Net Income From Continuing Operation Net Minority Interest -2.1M 85,000 2,000 -3.3M -1.8M
Net Income Including Noncontrolling Interests -2.1M 85,000 2,000 -3.3M -1.8M
Net Income Common Stockholders -2.1M 85,000 2,000 -3.3M -1.8M
Net Income -2.1M 85,000 2,000 -3.3M -1.8M
EBITDA -173,000 2.0M 1.9M -1.6M 41,000
Normalized EBITDA -61,000 1.9M 1.9M -1.7M 130,000
Reconciled Depreciation 1.4M 1.4M 1.4M 1.4M 1.4M
Basic EPS -0.08 0.00 0.00 -0.13 -0.07
Diluted EPS -0.08 0.00 0.00 -0.13 -0.07
Basic Average Shares 25.9M 26.0M 26.0M 25.4M 26.1M
Diluted Average Shares 25.9M 26.0M 26.0M 25.4M 26.1M
Total Unusual Items -112,000 89,000 10,000 170,000 -89,000
Total Unusual Items Excluding Goodwill -112,000 89,000 10,000 170,000 -89,000
Tax Rate For Calcs 0.00 0.00 0.00 0.05 0.07
Normalized Income -2.0M -4,000 -8,000 -3.5M -1.8M
Diluted NI Availto Com Stockholders -2.1M 85,000 2,000 -3.3M -1.8M
Gain On Sale Of Ppe -47,000 -46,000 2,000 7,000 0.00
Net Income Continuous Operations -2.1M 85,000 2,000 -3.3M -1.8M
Net Non Operating Interest Income Expense -576,000 -515,000 -486,000 -497,000 -579,000
Reconciled Cost Of Revenue 36.9M 40.6M 49.3M 47.6M 52.9M
Total Expenses 39.8M 43.8M 52.6M 51.0M 56.2M
Total Operating Income As Reported -1.1M 729,000 660,000 -3.2M -1.3M
Total Other Finance Cost 22,000 19,000 13,000 13,000 12,000
Line Item Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024 Q3 2024Sep 30, 2024
Cash And Cash Equivalents 2.8M 3.2M 4.1M 8.7M 1.9M
Cash Cash Equivalents And Short Term Investments 2.8M 3.2M 4.1M 8.7M 1.9M
Cash Equivalents 165,000 157,000 587,000 1.9M 1.9M
Cash Financial 2.6M 3.0M 3.5M 6.8M 6.4M
Accounts Receivable 23.4M 24.8M 27.6M 26.4M 28.2M
Receivables 25.1M 26.4M 29.2M 32.8M 32.8M
Inventory 56.5M 53.8M 51.7M 52.0M 54.6M
Prepaid Assets 5.0M 6.8M 6.7M 5.4M 5.0M
Other Current Assets 678,000 529,000 530,000 -- 6.4M
Current Assets 90.1M 90.8M 92.2M 98.9M 100.6M
Gross PPE 142.2M 141.3M 142.4M 142.2M 139.6M
Accumulated Depreciation -78.1M -76.7M -76.1M -74.9M -72.6M
Net PPE 64.1M 64.6M 66.3M 67.3M 67.0M
Other Non Current Assets 4.2M 3.5M 3.5M 2.6M 2.9M
Total Non Current Assets 75.1M 74.5M 75.4M 69.9M 69.8M
Total Assets 165.2M 165.3M 167.7M 168.8M 170.5M
Current Debt 5.6M 659,000 -- -- --
Current Debt And Capital Lease Obligation 7.1M 2.1M 1.5M 1.4M 1.4M
Accounts Payable 13.5M 16.1M 16.3M 16.5M 17.4M
Payables 13.9M 16.5M 16.7M 17.3M 18.2M
Payables And Accrued Expenses 13.9M 16.5M 16.7M 17.3M 18.2M
Current Liabilities 21.1M 18.6M 18.2M 18.7M 19.6M
Long Term Debt And Capital Lease Obligation 23.8M 23.7M 25.3M 25.5M 24.4M
Long Term Capital Lease Obligation 23.8M 23.7M 25.3M 25.5M 24.4M
Other Non Current Liabilities 169,000 481,000 203,000 166,000 97,000
Total Non Current Liabilities Net Minority Interest 29.5M 29.8M 31.1M 31.2M 29.8M
Total Liabilities Net Minority Interest 50.6M 48.4M 49.2M 50.0M 49.4M
Common Stock 215.2M 215.3M 215.4M 215.5M 215.6M
Capital Stock 215.2M 215.3M 215.4M 215.5M 215.6M
Retained Earnings -100.8M -98.3M -98.0M -97.6M -94.0M
Gains Losses Not Affecting Retained Earnings 267,000 -157,000 962,000 984,000 -499,000
Other Equity Adjustments 267,000 -157,000 962,000 984,000 -499,000
Common Stock Equity 114.6M 116.9M 118.4M 118.9M 121.1M
Stockholders Equity 114.6M 116.9M 118.4M 118.9M 121.1M
Total Equity Gross Minority Interest 114.6M 116.9M 118.4M 118.9M 121.1M
Total Capitalization 114.6M 116.9M 118.4M 118.9M 121.1M
Net Tangible Assets 114.6M 116.9M 118.4M 118.9M 121.1M
Tangible Book Value 114.6M 116.9M 118.4M 118.9M 121.1M
Working Capital 69.0M 72.1M 74.1M 80.2M 81.1M
Invested Capital 120.3M 117.5M 118.4M 118.9M 121.1M
Total Debt 30.9M 25.8M 26.8M 27.0M 25.8M
Net Debt 2.8M -- -- -- --
Share Issued 25.9M 26.0M 26.0M 26.0M 26.1M
Ordinary Shares Number 25.9M 26.0M 26.0M 26.0M 26.1M
Allowance For Doubtful Accounts Receivable -407,000 -323,000 -240,000 -157,000 -143,000
Buildings And Improvements 48.5M 48.4M 48.6M 48.6M 48.3M
Capital Lease Obligations 25.3M 25.2M 26.8M 27.0M 25.8M
Construction In Progress 1.2M 1.2M 383,000 473,000 714,000
Current Capital Lease Obligation 1.5M 1.5M 1.5M 1.4M 1.4M
Dividends Payable 389,000 389,000 390,000 781,000 782,000
Finished Goods 27.2M 28.9M 23.4M 24.0M 26.5M
Gross Accounts Receivable 23.8M 25.1M 27.8M 26.5M 28.3M
Income Tax Payable -- -- -- -- 0.00
Land And Improvements 13.3M 13.3M 13.3M 13.3M 13.3M
Leases 26.7M 26.2M 27.5M 27.6M 25.9M
Line Of Credit 5.6M 659,000 -- -- --
Machinery Furniture Equipment 50.2M 49.9M 50.2M 49.9M 49.0M
Non Current Accounts Receivable 6.8M 6.4M 5.6M -- --
Non Current Deferred Liabilities 5.6M 5.6M 5.6M 5.6M 5.3M
Non Current Deferred Taxes Liabilities 5.6M 5.6M 5.6M 5.6M 5.3M
Other Inventories -- -- 1,000 -- --
Other Properties 2.3M 2.3M 2.3M 2.3M 2.3M
Raw Materials 29.3M 25.0M 28.3M 27.9M 28.0M
Taxes Receivable 1.7M 1.7M 1.7M 6.4M 4.6M
Total Tax Payable -- -- -- -- 0.00
Line Item Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024 Q3 2024Sep 30, 2024
Operating Cash Flow -3.6M 1.3M -2.6M 1.5M -423,000
Cash Flow From Continuing Operating Activities -3.6M 1.3M -2.6M 1.5M -423,000
Depreciation And Amortization 1.4M 1.4M 1.4M 1.4M 1.4M
Depreciation Amortization Depletion 1.4M 1.4M 1.4M 1.4M 1.4M
Deferred Tax -404,000 0.00 0.00 223,000 -958,000
Deferred Income Tax -404,000 0.00 0.00 223,000 -958,000
Change In Working Capital -2.5M 415,000 -4.3M 2.7M 743,000
Changes In Account Receivables 704,000 2.8M -3.3M 2.0M 3.1M
Change In Receivables 704,000 2.8M -3.3M 2.0M 3.1M
Change In Inventory -2.7M -2.1M 219,000 3.0M -3.1M
Change In Payables And Accrued Expense -2.6M -149,000 12,000 -1.1M 458,000
Change In Other Working Capital 95,000 -48,000 13,000 -1.2M -109,000
Other Non Cash Items -131,000 -251,000 359,000 498,000 578,000
Capital Expenditure -473,000 -806,000 -442,000 -246,000 -155,000
Purchase Of PPE -473,000 -806,000 -442,000 -246,000 -155,000
Net PPE Purchase And Sale -473,000 -806,000 -442,000 -246,000 -155,000
Investing Cash Flow -430,000 -791,000 -420,000 -213,000 -82,000
Cash Flow From Continuing Investing Activities -430,000 -791,000 -420,000 -213,000 -82,000
Issuance Of Debt 5.0M -- 0.00 -- 0.00
Repayment Of Debt -358,000 -354,000 -351,000 -337,000 -324,000
Net Issuance Payments Of Debt 4.6M 305,000 -351,000 -337,000 -324,000
Repurchase Of Capital Stock -106,000 -133,000 -20,000 -108,000 -258,000
Net Common Stock Issuance -106,000 -133,000 -20,000 -108,000 -258,000
Common Stock Dividend Paid -389,000 -390,000 -781,000 -782,000 -784,000
Common Stock Payments -106,000 -133,000 -20,000 -108,000 -258,000
Financing Cash Flow 3.6M -762,000 -1.6M -1.7M -2.0M
Cash Flow From Continuing Financing Activities 3.6M -762,000 -1.6M -1.7M -2.0M
Effect Of Exchange Rate Changes 98,000 -646,000 -8,000 832,000 -79,000
Changes In Cash -483,000 -217,000 -4.6M -418,000 -2.5M
Beginning Cash Position 3.2M 4.1M 8.7M 8.3M 10.9M
End Cash Position 2.8M 3.2M 4.1M 8.7M 8.3M
Free Cash Flow -4.1M 530,000 -3.0M 1.3M -578,000
Cash Dividends Paid -389,000 -390,000 -781,000 -782,000 -784,000
Change In Prepaid Assets 2.0M -114,000 -1.3M 69,000 444,000
Depreciation 1.4M 1.4M 1.4M 1.4M 1.4M
Gain Loss On Sale Of PPE 47,000 46,000 -2,000 -7,000 0.00
Interest Paid Cff -542,000 -501,000 -490,000 -507,000 -618,000
Long Term Debt Issuance 5.0M -- 0.00 -- 0.00
Long Term Debt Payments -358,000 -354,000 -351,000 -337,000 -324,000
Net Foreign Currency Exchange Gain Loss 156,000 -333,000 -6,000 25,000 -324,000
Net Income From Continuing Operations -2.1M 85,000 2,000 -3.3M -1.8M
Net Long Term Debt Issuance 4.6M 305,000 -351,000 -337,000 -324,000
Net Other Financing Charges -- -43,000 -- 0.00 -14,000
Net Other Investing Changes 43,000 15,000 22,000 33,000 73,000
Operating Gains Losses 203,000 -287,000 -8,000 18,000 -324,000
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