Western Energy Services Corp.
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 | 223.1M | 233.5M | 200.3M | 131.7M |
| Operating Revenue | 223.1M | 233.5M | 200.3M | 131.7M |
| Cost Of Revenue | 41.0M | 42.2M | 40.1M | 42.0M |
| Gross Profit | 182.0M | 191.3M | 160.2M | 89.7M |
| Selling General And Administration | 23.0M | 19.0M | 15.8M | 10.9M |
| General And Administrative Expense | 23.0M | 19.0M | 15.8M | 10.9M |
| Other Operating Expenses | 158.6M | 169.5M | 146.6M | 98.0M |
| Operating Expense | 181.7M | 188.5M | 162.4M | 108.9M |
| Operating Income | 377,000 | 2.8M | -2.2M | -19.2M |
| EBIT | 1.5M | 3.2M | 46.5M | -19.8M |
| Interest Expense | 10.1M | 11.4M | 14.3M | 19.5M |
| Interest Expense Non Operating | 10.1M | 11.4M | 14.3M | 19.5M |
| Interest Income | 132,000 | 130,000 | 57,000 | 16,000 |
| Interest Income Non Operating | 132,000 | 130,000 | 57,000 | 16,000 |
| Net Interest Income | -10.1M | -11.4M | -14.4M | -19.7M |
| Other Income Expense | 1.1M | 315,000 | 48.8M | -375,000 |
| Other Non Operating Income Expenses | -- | -- | 6,000 | -- |
| Special Income Charges | 549,000 | -465,000 | 48.4M | -387,000 |
| Gain On Sale Of Security | 545,000 | 780,000 | 330,000 | 12,000 |
| Pretax Income | -8.6M | -8.3M | 32.2M | -39.3M |
| Tax Provision | -1.7M | -1.4M | 2.9M | -3.5M |
| Tax Effect Of Unusual Items | 218,749 | 52,690 | 4.3M | -33,013 |
| Net Income From Continuing And Discontinued Operation | -7.2M | -7.2M | 29.0M | -36.1M |
| Net Income From Continuing Operation Net Minority Interest | -7.2M | -7.2M | 29.0M | -36.1M |
| Net Income Including Noncontrolling Interests | -6.9M | -6.9M | 29.3M | -35.8M |
| Minority Interests | -289,000 | -322,000 | -321,000 | -322,000 |
| Net Income Common Stockholders | -7.2M | -7.2M | 29.0M | -36.1M |
| Net Income | -7.2M | -7.2M | 29.0M | -36.1M |
| EBITDA | 42.5M | 45.3M | 86.6M | 22.2M |
| Normalized EBITDA | 41.4M | 45.0M | 37.9M | 22.6M |
| Reconciled Depreciation | 41.0M | 42.2M | 40.1M | 42.0M |
| Basic EPS | -0.20 | -0.20 | 1.24 | -5.36 |
| Diluted EPS | -0.20 | -0.20 | 1.24 | -5.36 |
| Basic Average Shares | 33.8M | 33.8M | 23.6M | 6.7M |
| Diluted Average Shares | 33.8M | 33.8M | 23.6M | 6.7M |
| Total Unusual Items | 1.1M | 315,000 | 48.7M | -375,000 |
| Total Unusual Items Excluding Goodwill | 1.1M | 315,000 | 48.7M | -375,000 |
| Tax Rate For Calcs | 0.20 | 0.17 | 0.09 | 0.09 |
| Normalized Income | -8.0M | -7.5M | -15.4M | -35.8M |
| Diluted NI Availto Com Stockholders | -7.2M | -7.2M | 29.0M | -36.1M |
| Gain On Sale Of Ppe | 549,000 | -465,000 | -939,000 | -387,000 |
| Impairment Of Capital Assets | -- | -- | -- | 0.00 |
| Net Income Continuous Operations | -6.9M | -6.9M | 29.3M | -35.8M |
| Net Non Operating Interest Income Expense | -10.1M | -11.4M | -14.4M | -19.7M |
| Other Gand A | 22.2M | 16.2M | 13.9M | 10.7M |
| Other Special Charges | -- | -- | -49.4M | -- |
| Reconciled Cost Of Revenue | 41.0M | 42.2M | 40.1M | 42.0M |
| Salaries And Wages | 807,000 | 2.8M | 2.0M | 253,000 |
| Total Expenses | 222.7M | 230.6M | 202.5M | 150.9M |
| Total Other Finance Cost | 122,000 | 82,000 | 148,000 | 196,000 |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 3.8M | 5.9M | 8.9M | 7.5M |
| Cash Cash Equivalents And Short Term Investments | 3.8M | 5.9M | 8.9M | 7.5M |
| Accounts Receivable | 30.5M | 33.1M | 35.6M | 25.1M |
| Receivables | 37.6M | 37.8M | 47.4M | 26.7M |
| Inventory | 262,000 | 3.6M | 4.1M | 3.6M |
| Prepaid Assets | 3.1M | 3.3M | 1.1M | 2.5M |
| Current Assets | 44.8M | 50.7M | 61.5M | 40.4M |
| Gross PPE | 1.1B | 1.1B | 1.1B | 1.0B |
| Accumulated Depreciation | -715.6M | -689.4M | -661.1M | -619.9M |
| Net PPE | 386.1M | 392.2M | 413.8M | 415.2M |
| Total Non Current Assets | 386.1M | 392.2M | 414.2M | 415.6M |
| Total Assets | 431.0M | 442.9M | 475.7M | 456.0M |
| Current Debt | 948,000 | -493,000 | -496,000 | 7.1M |
| Current Debt And Capital Lease Obligation | 7.3M | 4.0M | 5.2M | 13.5M |
| Accounts Payable | 10.6M | 11.5M | 22.0M | 11.2M |
| Payables | 10.6M | 11.5M | 22.0M | 11.2M |
| Payables And Accrued Expenses | 27.6M | 26.6M | 34.5M | 24.6M |
| Current Accrued Expenses | 16.9M | 15.1M | 12.5M | 13.4M |
| Current Liabilities | 34.9M | 30.6M | 39.6M | 38.1M |
| Long Term Debt | 91.7M | 109.3M | 123.6M | 221.7M |
| Long Term Debt And Capital Lease Obligation | 96.3M | 111.2M | 126.5M | 226.9M |
| Long Term Capital Lease Obligation | 4.7M | 1.9M | 2.9M | 5.2M |
| Total Non Current Liabilities Net Minority Interest | 100.2M | 116.7M | 133.6M | 231.4M |
| Total Liabilities Net Minority Interest | 135.1M | 147.3M | 173.2M | 269.5M |
| Common Stock | 521.6M | 521.6M | 521.5M | 441.7M |
| Capital Stock | 521.6M | 521.6M | 521.5M | 441.7M |
| Additional Paid In Capital | 21.2M | 20.4M | 17.7M | 15.8M |
| Retained Earnings | -281.8M | -274.7M | -267.5M | -296.5M |
| Gains Losses Not Affecting Retained Earnings | 32.7M | 26.1M | 28.8M | 23.5M |
| Other Equity Adjustments | 32.7M | 26.1M | 28.8M | 23.5M |
| Common Stock Equity | 293.6M | 293.4M | 300.6M | 184.5M |
| Stockholders Equity | 293.6M | 293.4M | 300.6M | 184.5M |
| Total Equity Gross Minority Interest | 295.9M | 295.7M | 302.5M | 186.5M |
| Minority Interest | 2.2M | 2.3M | 1.9M | 2.0M |
| Total Capitalization | 385.3M | 402.6M | 424.2M | 406.2M |
| Net Tangible Assets | 293.6M | 293.4M | 300.6M | 184.5M |
| Tangible Book Value | 293.6M | 293.4M | 300.6M | 184.5M |
| Working Capital | 9.9M | 20.1M | 21.9M | 2.2M |
| Invested Capital | 386.2M | 402.2M | 423.7M | 413.3M |
| Total Debt | 103.7M | 115.2M | 131.7M | 240.4M |
| Net Debt | 88.8M | 102.9M | 114.2M | 221.3M |
| Share Issued | 33.8M | 33.8M | 33.8M | 8.7M |
| Ordinary Shares Number | 33.8M | 33.8M | 33.8M | 8.7M |
| Buildings And Improvements | 5.1M | 4.5M | 4.4M | 4.4M |
| Capital Lease Obligations | 6.1M | 4.4M | 5.3M | 7.6M |
| Current Capital Lease Obligation | 1.5M | 2.5M | 2.4M | 2.4M |
| Current Deferred Assets | 124,000 | 82,000 | 82,000 | 100,000 |
| Land And Improvements | 5.1M | 5.1M | 5.1M | 5.1M |
| Line Of Credit | 1.4M | 0.00 | 0.00 | 8.0M |
| Machinery Furniture Equipment | 12.9M | 12.7M | 11.9M | 12.7M |
| Non Current Deferred Assets | 0.00 | 34,000 | 117,000 | 0.00 |
| Non Current Deferred Liabilities | 3.9M | 5.5M | 7.0M | 4.5M |
| Non Current Deferred Taxes Liabilities | 3.9M | 5.5M | 7.0M | 4.5M |
| Non Current Note Receivables | -- | 0.00 | 207,000 | 405,000 |
| Notes Receivable | 0.00 | 203,000 | 226,000 | 211,000 |
| Other Current Borrowings | -475,000 | -493,000 | -496,000 | -913,000 |
| Other Properties | 213.3M | 215.1M | 214.1M | 212.7M |
| Other Receivables | 9.1M | 6.3M | 13.5M | 3.1M |
| Receivables Adjustments Allowances | -2.0M | -1.8M | -1.9M | -1.7M |
| Treasury Shares Number | -- | 0.00 | -- | -- |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | 46.8M | 51.4M | 28.5M | 16.6M |
| Cash Flow From Continuing Operating Activities | 46.8M | 51.4M | 28.5M | 16.6M |
| Depreciation And Amortization | 41.0M | 42.2M | 40.1M | 42.0M |
| Depreciation Amortization Depletion | 41.0M | 42.2M | 40.1M | 42.0M |
| Stock Based Compensation | 807,000 | 2.8M | 2.0M | 281,000 |
| Deferred Tax | -1.7M | -1.4M | 2.9M | -3.5M |
| Deferred Income Tax | -1.7M | -1.4M | 2.9M | -3.5M |
| Change In Working Capital | 4.5M | 2.4M | -11.4M | -6.4M |
| Other Non Cash Items | 9.0M | 12.3M | 15.0M | 20.0M |
| Capital Expenditure | -21.6M | -22.6M | -34.2M | -6.9M |
| Purchase Of PPE | -21.6M | -22.6M | -34.2M | -6.9M |
| Net PPE Purchase And Sale | -19.7M | -21.3M | -33.8M | -4.7M |
| Investing Cash Flow | -21.9M | -25.5M | -29.0M | -5.7M |
| Cash Flow From Continuing Investing Activities | -21.9M | -25.5M | -29.0M | -5.7M |
| Repayment Of Debt | -15.7M | -18.1M | -16.4M | -8.1M |
| Net Issuance Payments Of Debt | -15.7M | -18.1M | -16.4M | -8.1M |
| Issuance Of Capital Stock | -- | 0.00 | 31.5M | 14,000 |
| Net Common Stock Issuance | -- | 0.00 | 31.5M | 14,000 |
| Financing Cash Flow | -27.0M | -28.8M | 1.8M | -22.8M |
| Cash Flow From Continuing Financing Activities | -27.0M | -28.8M | 1.8M | -22.8M |
| Changes In Cash | -2.1M | -2.9M | 1.4M | -11.8M |
| Beginning Cash Position | 5.9M | 8.9M | 7.5M | 19.3M |
| End Cash Position | 3.8M | 5.9M | 8.9M | 7.5M |
| Free Cash Flow | 25.2M | 28.7M | -5.7M | 9.8M |
| Cash Dividends Paid | 0.00 | 0.00 | 0.00 | 0.00 |
| Common Stock Issuance | -- | 0.00 | 31.5M | 14,000 |
| Depreciation | 41.0M | 42.2M | 40.1M | 42.0M |
| Dividends Received Cfi | -355,000 | 33,000 | -374,000 | 0.00 |
| Interest Paid Cff | -10.3M | -10.8M | -9.3M | -14.7M |
| Long Term Debt Payments | -15.7M | -18.1M | -16.4M | -5.1M |
| Net Income From Continuing Operations | -6.9M | -6.9M | 29.3M | -35.8M |
| Net Long Term Debt Issuance | -15.7M | -18.1M | -16.4M | -5.1M |
| Net Other Financing Charges | -1.0M | -- | -4.1M | -24,000 |
| Net Other Investing Changes | -1.9M | -4.2M | 5.2M | -1.0M |
| Net Short Term Debt Issuance | -- | -- | -2.2M | -3.0M |
| Operating Gains Losses | -- | -- | -49.4M | -- |
| Sale Of PPE | 1.9M | 1.4M | 416,000 | 2.2M |
| Short Term Debt Payments | -- | -- | -2.2M | -3.0M |