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Western Forest Products Inc.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
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 986.5M 1.1B 1.0B 1.4B --
Operating Revenue 986.5M 1.1B 1.0B 1.4B --
Cost Of Revenue 910.5M 973.7M 966.6M 1.2B --
Gross Profit 76.0M 90.2M 50.9M 254.5M --
Selling General And Administration 100.5M 109.9M 116.2M 144.6M --
General And Administrative Expense 41.9M 40.8M 40.6M 42.2M --
Depreciation And Amortization In Income Statement 1.1M 2.2M 2.2M 2.3M --
Other Operating Expenses -- -- -- 1.0M 500,000
Operating Expense 194.4M 136.6M 134.3M 167.8M --
Operating Income -118.4M -46.4M -83.4M 86.7M --
EBIT -99.4M -41.5M -88.8M 86.8M --
Interest Expense 14.8M 10.6M 6.3M 2.4M --
Interest Expense Non Operating 14.8M 10.6M 6.3M 2.4M --
Interest Income -- 4.6M 3.8M 2.2M 700,000
Interest Income Non Operating -- 4.6M 3.8M 2.2M 700,000
Net Interest Income -15.5M -6.7M -3.0M 100,000 --
Other Income Expense 19.7M 1.0M -8.7M -2.4M --
Other Non Operating Income Expenses 100,000 100,000 500,000 -1.0M --
Special Income Charges 24.9M -6.1M -7.7M -3.9M --
Restructuring And Mergern Acquisition 1.9M 5.5M 7.5M 4.5M --
Write Off 3.9M 0.00 -- -- --
Gain On Sale Of Security -5.3M 7.0M -1.5M 2.5M --
Pretax Income -114.2M -52.1M -95.1M 84.4M --
Tax Provision -31.8M -17.6M -25.0M 22.6M --
Tax Effect Of Unusual Items 5.5M 304,200 -2.4M -375,200 --
Net Income From Continuing And Discontinued Operation -79.8M -30.4M -68.5M 61.7M --
Net Income From Continuing Operation Net Minority Interest -79.8M -30.4M -68.5M 61.7M --
Net Income Including Noncontrolling Interests -82.4M -34.5M -70.1M 61.8M --
Minority Interests 2.6M 4.1M 1.6M -100,000 --
Net Income Common Stockholders -79.8M -30.4M -68.5M 61.7M --
Net Income -79.8M -30.4M -68.5M 61.7M --
EBITDA -49.1M 13.2M -35.1M 137.0M --
Normalized EBITDA -68.7M 12.3M -25.9M 138.4M --
Reconciled Depreciation 50.3M 54.7M 53.7M 50.2M --
Basic EPS -7.56 -2.88 -6.60 5.70 16.80
Diluted EPS -7.56 -2.88 -6.60 5.70 16.80
Basic Average Shares 10.6M 10.6M 10.6M 10.8M 12.0M
Diluted Average Shares 10.6M 10.6M 10.6M 10.8M 12.0M
Total Unusual Items 19.6M 900,000 -9.2M -1.4M --
Total Unusual Items Excluding Goodwill 19.6M 900,000 -9.2M -1.4M --
Tax Rate For Calcs 0.28 0.34 0.26 0.27 --
Normalized Income -93.9M -31.0M -61.7M 62.7M --
Amortization 1.1M 2.2M 2.2M 2.3M --
Amortization Of Intangibles Income Statement 1.1M 2.2M 2.2M 2.3M --
Depreciation Amortization Depletion Income Statement 1.1M 2.2M 2.2M 2.3M --
Diluted NI Availto Com Stockholders -79.8M -30.4M -68.5M 61.7M --
Gain On Sale Of Ppe 23.8M -600,000 -200,000 600,000 --
Impairment Of Capital Assets -- -- -- -- 0.00
Net Income Continuous Operations -82.4M -34.5M -70.1M 61.8M --
Net Non Operating Interest Income Expense -15.5M -6.7M -3.0M 100,000 --
Other Gand A 41.9M 40.8M 40.6M 42.2M --
Other Special Charges -6.9M -- -- -- --
Other Taxes 92.8M 24.5M 15.9M 20.9M --
Reconciled Cost Of Revenue 861.3M 921.2M 915.1M 1.1B --
Selling And Marketing Expense 58.6M 69.1M 75.6M 102.4M --
Total Expenses 1.1B 1.1B 1.1B 1.4B --
Total Operating Income As Reported -98.7M -45.4M -92.1M 86.7M --
Total Other Finance Cost 700,000 700,000 500,000 -300,000 --
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 4.3M 7.9M 2.3M 15.8M --
Cash Cash Equivalents And Short Term Investments 4.3M 7.9M 2.3M 15.8M --
Accounts Receivable 66.1M 60.1M 50.9M 60.5M --
Receivables 75.0M 66.7M 74.4M 77.9M --
Inventory 181.8M 217.1M 213.5M 224.8M --
Prepaid Assets -- -- -- 21.8M 16.4M
Other Current Assets 28.0M 35.0M 33.9M 21.3M --
Current Assets 300.6M 334.1M 334.9M 339.8M --
Gross PPE 888.3M 901.1M 868.3M 848.3M --
Accumulated Depreciation -573.7M -551.5M -513.9M -483.6M --
Net PPE 314.6M 349.6M 354.4M 364.7M --
Goodwill 7.1M 7.5M 6.9M 7.0M --
Goodwill And Other Intangible Assets 91.3M 95.7M 99.2M 103.3M --
Other Intangible Assets 84.2M 88.2M 92.3M 96.3M --
Investments And Advances -- -- -- 11.0M 10.0M
Other Investments -- -- -- 11.0M 10.0M
Other Non Current Assets 28.6M 136.0M 126.7M 124.8M --
Total Non Current Assets 437.4M 581.4M 580.5M 593.0M --
Total Assets 738.0M 915.5M 915.4M 932.8M --
Current Debt 400,000 -- 900,000 -2.6M --
Current Debt And Capital Lease Obligation 7.7M 6.7M 7.8M 6.8M --
Accounts Payable 88.9M 110.7M 102.8M 108.5M --
Payables 89.1M 110.7M 103.0M 108.7M --
Payables And Accrued Expenses 89.1M 110.7M 103.0M 108.7M --
Current Deferred Revenue 2.0M 2.0M 2.0M 2.0M --
Other Current Liabilities -- 300,000 300,000 2.6M --
Current Liabilities 105.5M 127.0M 121.0M 125.8M --
Long Term Debt 37.6M 85.5M 83.8M -- --
Long Term Debt And Capital Lease Obligation 51.4M 98.3M 96.8M 16.4M --
Long Term Capital Lease Obligation 13.8M 12.8M 13.0M 16.4M --
Other Non Current Liabilities 3.2M 1.8M 1.9M 3.7M --
Total Non Current Liabilities Net Minority Interest 150.4M 222.2M 226.5M 155.3M --
Total Liabilities Net Minority Interest 255.9M 349.2M 347.5M 281.1M --
Common Stock 405.4M 405.4M 405.4M 405.4M --
Capital Stock 405.4M 405.4M 405.4M 405.4M --
Additional Paid In Capital 8.9M 8.9M 8.8M 9.1M --
Retained Earnings 57.5M 135.8M 148.9M 229.1M --
Gains Losses Not Affecting Retained Earnings 4.8M 8.1M 1.9M 3.6M --
Common Stock Equity 476.6M 558.2M 565.0M 647.2M --
Stockholders Equity 476.6M 558.2M 565.0M 647.2M --
Total Equity Gross Minority Interest 482.1M 566.3M 567.9M 651.7M --
Minority Interest 5.5M 8.1M 2.9M 4.5M --
Total Capitalization 514.2M 643.7M 648.8M 647.2M --
Net Tangible Assets 385.3M 462.5M 465.8M 543.9M --
Tangible Book Value 385.3M 462.5M 465.8M 543.9M --
Working Capital 195.1M 207.1M 213.9M 214.0M --
Invested Capital 514.6M 643.7M 649.7M 647.2M --
Total Debt 59.1M 105.0M 104.6M 23.2M --
Net Debt 33.7M 77.6M 82.4M -- --
Share Issued 10.6M 10.6M 10.6M 10.6M --
Ordinary Shares Number 10.6M 10.6M 10.6M 10.6M --
Assets Held For Sale Current 11.5M 7.4M 10.8M 0.00 --
Buildings And Improvements 512.0M 509.6M 485.5M 483.5M --
Capital Lease Obligations 21.1M 19.5M 19.9M 23.2M --
Current Capital Lease Obligation 7.3M 6.7M 6.9M 6.8M --
Current Deferred Liabilities 2.0M 2.0M 2.0M 2.0M --
Current Provisions 6.7M 7.3M 7.9M 8.3M --
Employee Benefits 4.1M 7.3M 6.8M 9.9M --
Finished Goods 162.2M 196.3M 193.4M 202.1M --
Foreign Currency Translation Adjustments 4.8M 8.1M 1.9M 3.6M --
Income Tax Payable 200,000 0.00 200,000 200,000 --
Land And Improvements 41.4M 58.2M 57.0M 59.5M --
Line Of Credit 400,000 0.00 900,000 0.00 --
Long Term Provisions 16.9M 17.3M 16.9M 15.6M --
Non Current Accounts Receivable -- -- -- 63.7M 40.4M
Non Current Accrued Expenses -- -- -- -- 1.6M
Non Current Deferred Assets 2.9M 100,000 200,000 200,000 --
Non Current Deferred Liabilities 74.8M 97.5M 104.1M 109.7M --
Non Current Deferred Revenue 38.4M 40.5M 42.5M 44.5M --
Non Current Deferred Taxes Assets 2.9M 100,000 200,000 200,000 --
Non Current Deferred Taxes Liabilities 36.4M 57.0M 61.6M 65.2M --
Non Current Note Receivables -- -- -- 0.00 2.6M
Non Current Pension And Other Postretirement Benefit Plans 4.1M 7.3M 6.8M 7.8M --
Non Current Prepaid Assets -- -- -- 200,000 1.2M
Other Current Borrowings -- -- -- -2.6M --
Other Properties 334.9M 333.3M 325.8M 305.3M --
Properties 0.00 0.00 0.00 0.00 --
Raw Materials 19.6M 20.8M 20.1M 22.7M --
Taxes Receivable 8.9M 6.6M 23.5M 17.4M --
Total Tax Payable 200,000 0.00 200,000 200,000 --
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 17.0M 20.1M -33.8M -10.3M --
Cash Flow From Continuing Operating Activities 17.0M 20.1M -33.8M -10.3M --
Depreciation And Amortization 50.3M 54.7M 53.7M 50.2M --
Depreciation Amortization Depletion 50.3M 54.7M 53.7M 50.2M --
Stock Based Compensation 1.8M 400,000 -1.2M -1.8M --
Deferred Tax 27.7M -18.6M -29.3M 4.6M --
Deferred Income Tax 27.7M -18.6M -29.3M 4.6M --
Change In Working Capital 16.6M -4.0M -3.7M -25.6M --
Change In Receivables -4.1M -6.8M 6.7M -500,000 --
Change In Inventory 34.3M -3.6M 8.8M -12.8M --
Change In Payables And Accrued Expense -21.2M 7.0M -7.1M -6.8M --
Other Non Cash Items 11.4M 4.7M 300,000 -2.7M --
Capital Expenditure -31.0M -33.4M -44.4M -46.5M --
Purchase Of PPE -31.0M -33.4M -44.4M -46.5M --
Net PPE Purchase And Sale -30.7M -32.4M -42.2M -43.8M --
Purchase Of Business -400,000 -- 0.00 -16.1M 0.00
Sale Of Business -- 35.1M 0.00 0.00 19.8M
Investing Cash Flow 43.7M 3.0M -38.6M -59.9M --
Cash Flow From Continuing Investing Activities 43.7M 3.0M -38.6M -59.9M --
Issuance Of Debt -- 2.0M 84.1M 0.00 --
Repayment Of Debt -57.6M -9.5M -9.5M -7.5M --
Net Issuance Payments Of Debt -57.2M -8.4M 75.5M -7.5M --
Repurchase Of Capital Stock -- -- 0.00 -20.3M -96.9M
Net Common Stock Issuance -- -- 0.00 -20.3M -96.9M
Common Stock Dividend Paid -- 0.00 -11.9M -- --
Common Stock Payments -- -- 0.00 -20.3M -96.9M
Financing Cash Flow -64.3M -17.5M 58.9M -44.0M --
Cash Flow From Continuing Financing Activities -64.3M -17.5M 58.9M -44.0M --
Changes In Cash -3.6M 5.6M -13.5M -114.2M --
Beginning Cash Position 7.9M 2.3M 15.8M 130.0M --
End Cash Position 4.3M 7.9M 2.3M 15.8M --
Free Cash Flow -14.0M -13.3M -78.2M -56.8M --
Amortization Cash Flow 4.0M 4.1M 4.0M 4.0M --
Amortization Of Intangibles 4.0M 4.1M 4.0M 4.0M --
Asset Impairment Charge 3.9M 2.8M 0.00 -- --
Cash Dividends Paid 0.00 0.00 -11.9M -15.3M --
Change In Prepaid Assets 7.6M -600,000 -12.1M -5.5M --
Depreciation 46.3M 50.6M 49.7M 46.2M --
Gain Loss On Sale Of PPE -- 600,000 200,000 -600,000 -23.3M
Interest Paid Cff -6.2M -8.6M -4.7M -500,000 --
Long Term Debt Issuance -- 2.0M 84.1M 0.00 --
Long Term Debt Payments -57.6M -9.5M -9.5M -7.5M --
Net Business Purchase And Sale -400,000 35.1M 0.00 -16.1M --
Net Foreign Currency Exchange Gain Loss 6.3M -7.3M 1.8M -700,000 --
Net Income From Continuing Operations -82.4M -34.5M -70.1M 61.8M --
Net Long Term Debt Issuance -57.6M -7.5M 74.6M -7.5M --
Net Other Financing Charges -900,000 -500,000 -- -400,000 -1.4M
Net Other Investing Changes 74.8M 300,000 3.6M -- --
Net Short Term Debt Issuance 400,000 -900,000 900,000 0.00 --
Operating Gains Losses -18.1M -7.9M 1.1M -2.9M --
Pension And Employee Benefit Expense -600,000 -1.2M -900,000 -1.6M --
Proceeds From Stock Option Exercised -- -- -- 0.00 100,000
Provisionand Write Offof Assets -- -- -- -- -200,000
Sale Of PPE 300,000 1.0M 2.2M 2.7M --
Short Term Debt Issuance -- -- 900,000 0.00 --
Short Term Debt Payments -- -- -- -- -70.2M
Taxes Refund Paid 5.8M 22.5M 15.4M -93.9M --
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