Tidewater Midstream and Infrastructure 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 | 1.6B | 2.2B | 2.9B | 1.7B |
| Operating Revenue | 1.6B | 2.2B | 2.9B | 1.7B |
| Cost Of Revenue | 1.5B | 2.1B | 2.7B | 1.6B |
| Gross Profit | 107.4M | 59.6M | 147.0M | 85.4M |
| Selling General And Administration | 33.8M | 48.9M | 50.4M | 33.0M |
| General And Administrative Expense | 33.8M | 48.9M | 50.4M | 33.0M |
| Operating Expense | 33.8M | 48.9M | 50.4M | 33.0M |
| Operating Income | 73.6M | 10.7M | 96.6M | 52.4M |
| EBIT | 57.0M | -351.3M | 95.6M | 166.8M |
| Interest Expense | 77.4M | 98.9M | 69.1M | 72.6M |
| Interest Expense Non Operating | 77.4M | 98.9M | 69.1M | 72.6M |
| Interest Income | -- | -- | -- | 1.2M |
| Interest Income Non Operating | -- | -- | -- | 1.2M |
| Net Interest Income | -77.4M | -98.7M | -69.3M | -71.4M |
| Other Income Expense | -16.6M | -362.2M | -800,000 | 113.2M |
| Other Non Operating Income Expenses | -10.7M | -16.3M | -- | -- |
| Special Income Charges | 14.0M | -320.4M | -66.9M | 24.7M |
| Restructuring And Mergern Acquisition | 4.7M | 13.6M | 6.5M | 3.4M |
| Write Off | -19.7M | 417.6M | 55.0M | 0.00 |
| Gain On Sale Of Security | -23.6M | -30.8M | 77.7M | 87.2M |
| Earnings From Equity Interest | 3.7M | 5.3M | -11.6M | 1.3M |
| Pretax Income | -20.4M | -450.2M | 26.5M | 94.2M |
| Tax Provision | -1.6M | -51.0M | 7.6M | 20.3M |
| Tax Effect Of Unusual Items | -752,941 | -39.8M | 3.1M | 24.1M |
| Net Income From Continuing And Discontinued Operation | -26.6M | -385.9M | 8.5M | 71.5M |
| Net Income From Continuing Operation Net Minority Interest | -26.6M | -385.9M | 8.5M | 71.5M |
| Net Income Including Noncontrolling Interests | -18.8M | -399.2M | 18.9M | 73.9M |
| Minority Interests | -7.8M | 13.3M | -10.4M | -2.4M |
| Net Income Common Stockholders | -26.6M | -385.9M | 8.5M | 71.5M |
| Net Income | -26.6M | -385.9M | 8.5M | 71.5M |
| EBITDA | 147.5M | -254.5M | 180.0M | 248.6M |
| Normalized EBITDA | 157.1M | 96.7M | 169.2M | 136.7M |
| Reconciled Depreciation | 90.5M | 96.8M | 84.4M | 81.8M |
| Basic EPS | -1.20 | -18.20 | 0.40 | 4.20 |
| Diluted EPS | -1.20 | -18.20 | 0.40 | 3.60 |
| Basic Average Shares | 21.5M | 21.3M | 18.6M | 17.0M |
| Diluted Average Shares | 21.5M | 21.3M | 19.0M | 20.6M |
| Total Unusual Items | -9.6M | -351.2M | 10.8M | 111.9M |
| Total Unusual Items Excluding Goodwill | -9.6M | -351.2M | 10.8M | 111.9M |
| Tax Rate For Calcs | 0.08 | 0.11 | 0.29 | 0.22 |
| Normalized Income | -17.8M | -74.5M | 797,358 | -16.3M |
| Average Dilution Earnings | -- | -- | 0.00 | 3.1M |
| Diluted NI Availto Com Stockholders | -26.6M | -385.9M | 8.5M | 74.6M |
| Gain On Sale Of Ppe | -1.0M | 110.8M | -5.4M | 26.1M |
| Insurance And Claims | 3.1M | 3.5M | -- | -- |
| Net Income Continuous Operations | -18.8M | -399.2M | 18.9M | 73.9M |
| Net Non Operating Interest Income Expense | -77.4M | -98.7M | -69.3M | -71.4M |
| Other Gand A | 5.4M | 2.1M | 36.9M | 26.3M |
| Other Special Charges | -- | -- | -- | -2.0M |
| Reconciled Cost Of Revenue | 1.5B | 2.1B | 2.7B | 1.6B |
| Rent And Landing Fees | 2.0M | 700,000 | -- | -- |
| Rent Expense Supplemental | 2.0M | 700,000 | -- | -- |
| Salaries And Wages | 23.3M | 42.6M | 13.5M | 6.7M |
| Total Expenses | 1.6B | 2.2B | 2.8B | 1.6B |
| Total Operating Income As Reported | 62.9M | -5.6M | 96.6M | 52.4M |
| Total Other Finance Cost | -- | -200,000 | 200,000 | -1.2M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 100,000 | 100,000 | 17.0M | 15.8M |
| Cash Cash Equivalents And Short Term Investments | 100,000 | 336.7M | 17.0M | 15.8M |
| Cash Financial | -- | -- | -- | 15.8M |
| Other Short Term Investments | 0.00 | 336.6M | 0.00 | -- |
| Accounts Receivable | 159.1M | 147.8M | 269.9M | 242.9M |
| Receivables | 159.1M | 147.8M | 269.9M | 242.9M |
| Inventory | 132.8M | 98.1M | 87.9M | 59.4M |
| Prepaid Assets | -- | -- | -- | 38.4M |
| Other Current Assets | 10.0M | 18.1M | 57.6M | 38.4M |
| Current Assets | 348.2M | 603.7M | 450.9M | 362.4M |
| Gross PPE | 1.6B | 1.7B | 2.0B | 1.8B |
| Accumulated Depreciation | -739.2M | -761.5M | -329.5M | -272.7M |
| Net PPE | 815.5M | 924.5M | 1.7B | 1.5B |
| Investments And Advances | 35.4M | 34.8M | 94.5M | 61.2M |
| Long Term Equity Investment | 35.4M | 34.8M | -- | -- |
| Other Non Current Assets | 41.9M | 39.6M | 43.4M | 43.0M |
| Total Non Current Assets | 892.8M | 999.9M | 1.8B | 1.6B |
| Total Assets | 1.2B | 1.6B | 2.3B | 2.0B |
| Current Debt | -- | 73.3M | -- | 124.2M |
| Current Debt And Capital Lease Obligation | 27.5M | 529.8M | 47.0M | 190.1M |
| Accounts Payable | 178.6M | 258.8M | 404.7M | 265.0M |
| Payables | 178.6M | 258.8M | 408.9M | 268.4M |
| Payables And Accrued Expenses | 182.1M | 265.1M | 413.8M | 269.7M |
| Current Accrued Expenses | 3.5M | 6.3M | 4.9M | 1.3M |
| Current Deferred Revenue | 17.0M | 17.0M | 16.9M | 20.0M |
| Other Current Liabilities | 37.7M | 59.0M | 50.2M | 44.3M |
| Current Liabilities | 271.3M | 924.7M | 552.1M | 524.1M |
| Long Term Debt | 531.0M | 222.3M | 736.7M | 541.2M |
| Long Term Debt And Capital Lease Obligation | 545.3M | 239.2M | 870.3M | 699.6M |
| Long Term Capital Lease Obligation | 14.3M | 16.9M | 133.6M | 158.4M |
| Total Non Current Liabilities Net Minority Interest | 636.7M | 338.4M | 976.2M | 803.8M |
| Total Liabilities Net Minority Interest | 908.0M | 1.3B | 1.5B | 1.3B |
| Common Stock | 543.5M | 540.8M | 537.6M | 445.5M |
| Capital Stock | 543.5M | 540.8M | 537.6M | 445.5M |
| Retained Earnings | -279.5M | -252.9M | 145.8M | 152.6M |
| Gains Losses Not Affecting Retained Earnings | 26.6M | 22.9M | -- | -- |
| Other Equity Adjustments | 26.6M | 22.9M | -- | -- |
| Common Stock Equity | 290.6M | 310.8M | 703.3M | 616.6M |
| Stockholders Equity | 290.6M | 310.8M | 703.3M | 616.6M |
| Total Equity Gross Minority Interest | 333.0M | 340.5M | 746.3M | 642.7M |
| Minority Interest | 42.4M | 29.7M | 43.0M | 26.1M |
| Total Capitalization | 821.6M | 533.1M | 1.4B | 1.2B |
| Net Tangible Assets | 290.6M | 310.8M | 703.3M | 616.6M |
| Tangible Book Value | 290.6M | 310.8M | 703.3M | 616.6M |
| Working Capital | 76.9M | -321.0M | -101.2M | -161.7M |
| Invested Capital | 821.6M | 606.4M | 1.4B | 1.3B |
| Total Debt | 572.8M | 769.0M | 917.3M | 889.7M |
| Net Debt | 530.9M | 295.5M | 719.7M | 649.6M |
| Share Issued | 21.6M | 21.4M | 21.2M | 17.1M |
| Ordinary Shares Number | 21.6M | 21.4M | 21.2M | 17.1M |
| Assets Held For Sale Current | 38.3M | 0.00 | -- | 0.00 |
| Buildings And Improvements | -- | 13.2M | 15.0M | 13.3M |
| Capital Lease Obligations | 27.0M | 53.4M | 180.6M | 204.9M |
| Construction In Progress | 5.0M | 33.6M | 282.8M | 77.1M |
| Current Capital Lease Obligation | 12.7M | 36.5M | 47.0M | 46.5M |
| Current Deferred Liabilities | 17.0M | 17.0M | 16.9M | 20.0M |
| Current Notes Payable | -- | -- | 0.00 | 124.2M |
| Current Provisions | 7.0M | 53.8M | 24.2M | -- |
| Derivative Product Liabilities | 3.7M | 21.3M | 13.8M | 13.0M |
| Dividends Payable | -- | 0.00 | 4.2M | 3.4M |
| Financial Assets | 0.00 | 1.0M | 22.2M | 6.4M |
| Finished Goods | 44.6M | 31.7M | 43.2M | 53.9M |
| Hedging Assets Current | 7.9M | 3.0M | 18.5M | 5.9M |
| Interest Payable | 3.5M | 6.3M | 4.9M | 1.3M |
| Line Of Credit | -- | 24.5M | 0.00 | -- |
| Long Term Provisions | 87.7M | 77.9M | 41.1M | 45.6M |
| Machinery Furniture Equipment | 1.5B | 1.6B | 1.6B | 1.6B |
| Non Current Deferred Liabilities | -- | 0.00 | 51.0M | 45.6M |
| Non Current Deferred Taxes Liabilities | -- | 0.00 | 51.0M | 45.6M |
| Non Current Prepaid Assets | -- | -- | -- | 8.7M |
| Other Current Borrowings | -- | 73.3M | -- | -- |
| Other Equity Interest | -- | 22.9M | 19.9M | 18.5M |
| Other Inventories | 78.2M | 58.6M | 39.0M | -- |
| Other Properties | 11.4M | 13.2M | 75.4M | 116.6M |
| Raw Materials | 10.0M | 7.8M | 5.7M | 5.5M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | -33.5M | 137.5M | 242.9M | 126.7M |
| Cash Flow From Continuing Operating Activities | -33.5M | 137.5M | 242.9M | 126.7M |
| Depreciation And Amortization | 90.5M | 96.8M | 84.4M | 81.8M |
| Depreciation Amortization Depletion | 90.5M | 96.8M | 84.4M | 81.8M |
| Stock Based Compensation | 700,000 | 6.3M | 4.3M | 100,000 |
| Deferred Tax | -1.6M | -51.0M | 7.6M | 20.3M |
| Deferred Income Tax | -1.6M | -51.0M | 7.6M | 20.3M |
| Change In Working Capital | -134.0M | 37.3M | 19.8M | -61.3M |
| Changes In Account Receivables | -11.3M | 73.6M | -28.2M | -67.3M |
| Change In Receivables | -11.3M | 73.6M | -28.2M | -67.3M |
| Change In Inventory | -11.8M | -37.3M | -7.7M | -18.0M |
| Change In Payables And Accrued Expense | -117.1M | -1.0M | 71.5M | 37.7M |
| Change In Payable | -117.1M | -1.0M | 71.5M | -- |
| Other Non Cash Items | 73.0M | 99.6M | 65.5M | 64.6M |
| Capital Expenditure | -44.9M | -292.6M | -349.3M | -116.8M |
| Purchase Of PPE | -- | -- | -349.3M | -116.8M |
| Net PPE Purchase And Sale | -- | -- | -349.3M | -116.8M |
| Purchase Of Business | -- | 0.00 | -10.5M | -2.2M |
| Purchase Of Investment | 0.00 | -46.8M | -55.2M | -4.8M |
| Net Investment Purchase And Sale | 0.00 | -46.8M | -55.2M | -4.8M |
| Investing Cash Flow | 293.4M | 14.3M | -279.6M | 19.8M |
| Cash Flow From Continuing Investing Activities | 293.4M | 14.3M | -279.6M | 19.8M |
| Issuance Of Debt | 95.4M | 25.0M | 191.2M | 0.00 |
| Repayment Of Debt | -305.4M | -98.0M | -173.4M | -221.7M |
| Net Issuance Payments Of Debt | -210.0M | -73.0M | 17.8M | -221.7M |
| Issuance Of Capital Stock | 1.0M | -- | 87.0M | 150.0M |
| Repurchase Of Capital Stock | -- | -100,000 | -- | -400,000 |
| Net Common Stock Issuance | 1.0M | -100,000 | 87.0M | 149.6M |
| Common Stock Dividend Paid | -- | -- | -14.5M | -13.6M |
| Common Stock Payments | -- | -100,000 | -- | -400,000 |
| Financing Cash Flow | -259.9M | -168.7M | 37.9M | -140.6M |
| Cash Flow From Continuing Financing Activities | -259.9M | -168.7M | 37.9M | -140.6M |
| Changes In Cash | -- | -16.9M | 1.2M | 5.9M |
| Beginning Cash Position | 100,000 | 17.0M | 15.8M | 9.9M |
| End Cash Position | 100,000 | 100,000 | 17.0M | 15.8M |
| Free Cash Flow | -78.4M | -155.1M | -106.4M | 9.9M |
| Asset Impairment Charge | -19.7M | 417.6M | 55.0M | 0.00 |
| Capital Expenditure Reported | -44.9M | -292.6M | -349.3M | -- |
| Cash Dividends Paid | 0.00 | -17.0M | -14.5M | -13.6M |
| Change In Account Payable | -117.1M | -1.0M | 71.5M | -- |
| Change In Prepaid Assets | 6.2M | 2.0M | -15.8M | -13.7M |
| Common Stock Issuance | 1.0M | -- | 87.0M | 150.0M |
| Depreciation | 90.5M | 96.8M | 84.4M | 81.8M |
| Earnings Losses From Equity Investments | -3.7M | -5.3M | 11.6M | -1.3M |
| Gain Loss On Investment Securities | -22.9M | 52.8M | -32.0M | -25.0M |
| Gain Loss On Sale Of PPE | -- | -- | -- | -26.1M |
| Interest Paid Cff | -55.0M | -78.6M | -52.4M | -54.9M |
| Long Term Debt Issuance | 95.4M | 25.0M | 191.2M | 0.00 |
| Long Term Debt Payments | -305.4M | -98.0M | -173.4M | -221.7M |
| Net Business Purchase And Sale | -- | 0.00 | -10.5M | -2.2M |
| Net Foreign Currency Exchange Gain Loss | 2.0M | -700,000 | 2.4M | -300,000 |
| Net Income From Continuing Operations | -18.8M | -399.2M | 18.9M | 73.9M |
| Net Long Term Debt Issuance | -210.0M | -73.0M | 17.8M | -221.7M |
| Net Other Financing Charges | 4.1M | -- | -- | -404,000 |
| Net Other Investing Changes | 338.3M | 353.7M | 135.4M | 143.6M |
| Operating Gains Losses | -23.6M | -64.0M | -12.6M | -52.7M |
| Unrealized Gain Loss On Investment Securities | 0.00 | -5.9M | 0.00 | -- |