Western Energy Services Corp.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|
| Total Revenue | 40.0M | 69.0M | 59.7M | 58.3M | 43.0M |
| Operating Revenue | 40.0M | 69.0M | 59.7M | 58.3M | 43.0M |
| Cost Of Revenue | 10.3M | 10.0M | 10.4M | 10.1M | 10.1M |
| Gross Profit | 29.7M | 59.0M | 49.3M | 48.3M | 33.0M |
| Selling General And Administration | 3.4M | 4.1M | 7.3M | 4.7M | 5.9M |
| General And Administrative Expense | 3.4M | 4.1M | 7.3M | 4.7M | 5.9M |
| Other Operating Expenses | 30.5M | 49.9M | 42.5M | 42.4M | 31.7M |
| Operating Expense | 33.9M | 54.0M | 49.8M | 47.1M | 37.6M |
| Operating Income | -4.3M | 5.0M | -436,000 | 1.2M | -4.7M |
| EBIT | -3.3M | 5.2M | 187,000 | 895,000 | -4.2M |
| Interest Expense | 2.3M | 2.3M | 2.4M | 2.5M | 2.5M |
| Interest Expense Non Operating | 2.3M | 2.3M | 2.4M | 2.5M | 2.5M |
| Interest Income | 11,000 | 9,000 | 19,000 | 36,000 | 64,000 |
| Interest Income Non Operating | 11,000 | 9,000 | 19,000 | 36,000 | 64,000 |
| Net Interest Income | -2.3M | -2.4M | -2.4M | -2.5M | -2.5M |
| Other Income Expense | 950,000 | 217,000 | 638,000 | -316,000 | 392,000 |
| Special Income Charges | 1.3M | 231,000 | 189,000 | -248,000 | 343,000 |
| Gain On Sale Of Security | -364,000 | -14,000 | 449,000 | -68,000 | 49,000 |
| Pretax Income | -5.6M | 2.8M | -2.2M | -1.6M | -6.8M |
| Tax Provision | -1.0M | 442,000 | -230,000 | -393,000 | -1.6M |
| Tax Effect Of Unusual Items | 171,214 | 33,916 | 65,951 | -78,451 | 94,041 |
| Net Income From Continuing And Discontinued Operation | -4.6M | 2.3M | -2.1M | -1.3M | -5.2M |
| Net Income From Continuing Operation Net Minority Interest | -4.6M | 2.3M | -2.1M | -1.3M | -5.2M |
| Net Income Including Noncontrolling Interests | -4.6M | 2.4M | -2.0M | -1.2M | -5.1M |
| Minority Interests | -39,000 | -124,000 | -148,000 | -71,000 | -111,000 |
| Net Income Common Stockholders | -4.6M | 2.3M | -2.1M | -1.3M | -5.2M |
| Net Income | -4.6M | 2.3M | -2.1M | -1.3M | -5.2M |
| EBITDA | 7.0M | 15.2M | 10.6M | 11.0M | 5.8M |
| Normalized EBITDA | 6.1M | 15.0M | 9.9M | 11.3M | 5.5M |
| Reconciled Depreciation | 10.3M | 10.0M | 10.4M | 10.1M | 10.1M |
| Basic EPS | -0.14 | 0.07 | -- | -0.04 | -0.15 |
| Diluted EPS | -0.14 | 0.07 | -- | -0.04 | -0.15 |
| Basic Average Shares | 33.8M | 33.8M | -- | 33.8M | 33.8M |
| Diluted Average Shares | 33.8M | 33.8M | -- | 33.8M | 33.8M |
| Total Unusual Items | 950,000 | 217,000 | 638,000 | -316,000 | 392,000 |
| Total Unusual Items Excluding Goodwill | 950,000 | 217,000 | 638,000 | -316,000 | 392,000 |
| Tax Rate For Calcs | 0.18 | 0.16 | 0.10 | 0.25 | 0.24 |
| Normalized Income | -5.4M | 2.1M | -2.7M | -1.0M | -5.5M |
| Diluted NI Availto Com Stockholders | -4.6M | 2.3M | -2.1M | -1.3M | -5.2M |
| Gain On Sale Of Ppe | 1.3M | 231,000 | 189,000 | -248,000 | 343,000 |
| Net Income Continuous Operations | -4.6M | 2.4M | -2.0M | -1.2M | -5.1M |
| Net Non Operating Interest Income Expense | -2.3M | -2.4M | -2.4M | -2.5M | -2.5M |
| Other Gand A | 3.7M | 5.0M | 6.9M | 4.5M | 6.0M |
| Reconciled Cost Of Revenue | 10.3M | 10.0M | 10.4M | 10.1M | 10.1M |
| Salaries And Wages | -238,000 | -931,000 | 374,000 | 157,000 | -161,000 |
| Total Expenses | 44.3M | 64.0M | 60.2M | 57.1M | 47.7M |
| Total Other Finance Cost | 24,000 | 16,000 | 34,000 | 34,000 | 33,000 |
| Line Item | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 5.2M | 3.8M | 3.8M | 3.9M | 15.5M |
| Cash Cash Equivalents And Short Term Investments | 5.2M | 3.8M | 3.8M | 3.9M | 15.5M |
| Accounts Receivable | 24.5M | 43.8M | 30.5M | 38.2M | 27.6M |
| Receivables | 28.2M | 50.0M | 37.6M | 38.3M | 27.7M |
| Inventory | 102,000 | 517,000 | 262,000 | 3.6M | 3.6M |
| Prepaid Assets | 2.2M | 2.8M | 3.1M | 1.7M | 2.4M |
| Current Assets | 35.8M | 57.1M | 44.8M | 47.7M | 49.4M |
| Gross PPE | 1.1B | 1.1B | 1.1B | 1.1B | 1.1B |
| Accumulated Depreciation | -721.9M | -725.0M | -715.6M | -705.1M | -705.5M |
| Net PPE | 371.9M | 381.1M | 386.1M | 381.9M | 383.9M |
| Total Non Current Assets | 372.0M | 381.1M | 386.1M | 382.0M | 384.0M |
| Total Assets | 407.8M | 438.2M | 431.0M | 429.6M | 433.4M |
| Current Debt | -291,000 | 253,000 | 948,000 | -479,000 | -485,000 |
| Current Debt And Capital Lease Obligation | 2.6M | 2.8M | 7.3M | 3.4M | 3.6M |
| Accounts Payable | 20.6M | 27.4M | 10.6M | 26.6M | 23.5M |
| Payables | 20.6M | 27.4M | 10.6M | 26.6M | 23.5M |
| Payables And Accrued Expenses | 20.6M | 27.4M | 27.6M | 26.6M | 23.5M |
| Current Accrued Expenses | -- | -- | 16.9M | -- | -- |
| Current Liabilities | 23.2M | 30.2M | 34.9M | 30.0M | 27.2M |
| Long Term Debt | 89.1M | 102.2M | 91.7M | 98.1M | 102.8M |
| Long Term Debt And Capital Lease Obligation | 93.0M | 106.5M | 96.3M | 103.0M | 106.9M |
| Long Term Capital Lease Obligation | 4.0M | 4.4M | 4.7M | 4.9M | 4.1M |
| Total Non Current Liabilities Net Minority Interest | 96.3M | 110.9M | 100.2M | 107.0M | 111.3M |
| Total Liabilities Net Minority Interest | 119.5M | 141.1M | 135.1M | 137.0M | 138.5M |
| Common Stock | 521.6M | 521.6M | 521.6M | 521.6M | 521.6M |
| Capital Stock | 521.6M | 521.6M | 521.6M | 521.6M | 521.6M |
| Additional Paid In Capital | 20.0M | 20.2M | 21.2M | 20.8M | 20.6M |
| Retained Earnings | -284.2M | -279.6M | -281.8M | -279.7M | -278.4M |
| Gains Losses Not Affecting Retained Earnings | 28.6M | 32.6M | 32.7M | 27.7M | 28.8M |
| Other Equity Adjustments | 28.6M | 32.6M | 32.7M | 27.7M | 28.8M |
| Common Stock Equity | 286.0M | 294.9M | 293.6M | 290.4M | 292.6M |
| Stockholders Equity | 286.0M | 294.9M | 293.6M | 290.4M | 292.6M |
| Total Equity Gross Minority Interest | 288.3M | 297.1M | 295.9M | 292.6M | 294.9M |
| Minority Interest | 2.3M | 2.3M | 2.2M | 2.2M | 2.3M |
| Total Capitalization | 375.1M | 397.1M | 385.3M | 388.5M | 395.4M |
| Net Tangible Assets | 286.0M | 294.9M | 293.6M | 290.4M | 292.6M |
| Tangible Book Value | 286.0M | 294.9M | 293.6M | 290.4M | 292.6M |
| Working Capital | 12.6M | 26.9M | 9.9M | 17.7M | 22.2M |
| Invested Capital | 374.8M | 397.3M | 386.2M | 388.1M | 394.9M |
| Total Debt | 95.6M | 109.3M | 103.7M | 106.4M | 110.5M |
| Net Debt | 83.5M | 98.7M | 88.8M | 93.7M | 86.8M |
| Share Issued | 33.8M | 33.8M | 33.8M | 33.8M | 33.8M |
| Ordinary Shares Number | 33.8M | 33.8M | 33.8M | 33.8M | 33.8M |
| Buildings And Improvements | 5.5M | 5.5M | 5.1M | 4.9M | 4.7M |
| Capital Lease Obligations | 5.5M | 5.8M | 6.1M | 6.6M | 6.0M |
| Current Capital Lease Obligation | 1.6M | 1.5M | 1.5M | 1.7M | 1.9M |
| Current Deferred Assets | 96,000 | 65,000 | 124,000 | 135,000 | 135,000 |
| Land And Improvements | 5.1M | 5.1M | 5.1M | 5.1M | 5.1M |
| Line Of Credit | 0.00 | -- | 1.4M | -- | -- |
| Machinery Furniture Equipment | 13.1M | 13.2M | 12.9M | 12.8M | 12.8M |
| Non Current Deferred Assets | 40,000 | 43,000 | 0.00 | 23,000 | 56,000 |
| Non Current Deferred Liabilities | 3.2M | 4.3M | 3.9M | 4.0M | 4.4M |
| Non Current Deferred Taxes Liabilities | 3.2M | 4.3M | 3.9M | 4.0M | 4.4M |
| Notes Receivable | -- | -- | 0.00 | 56,000 | 95,000 |
| Other Current Borrowings | -291,000 | 253,000 | -475,000 | -479,000 | -485,000 |
| Other Properties | 213.3M | 213.4M | 213.3M | 212.4M | 214.8M |
| Other Receivables | 5.6M | 8.3M | 9.1M | -- | -- |
| Receivables Adjustments Allowances | -1.8M | -2.0M | -2.0M | -- | -- |
| Line Item | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|
| Operating Cash Flow | 19.8M | 2.7M | 14.3M | 5.4M | 19.3M |
| Cash Flow From Continuing Operating Activities | 19.8M | 2.7M | 14.3M | 5.4M | 19.3M |
| Depreciation And Amortization | 10.3M | 10.0M | 10.4M | 10.1M | 10.1M |
| Depreciation Amortization Depletion | 10.3M | 10.0M | 10.4M | 10.1M | 10.1M |
| Stock Based Compensation | -238,000 | -931,000 | 374,000 | 157,000 | -161,000 |
| Deferred Tax | -1.0M | 442,000 | -230,000 | -393,000 | -1.6M |
| Deferred Income Tax | -1.0M | 442,000 | -230,000 | -393,000 | -1.6M |
| Change In Working Capital | 14.0M | -11.5M | 4.0M | -6.0M | 14.0M |
| Other Non Cash Items | 1.3M | 2.3M | 1.8M | 2.8M | 2.1M |
| Capital Expenditure | -6.0M | -5.0M | -5.8M | -8.2M | -5.6M |
| Purchase Of PPE | -6.0M | -5.0M | -5.8M | -8.2M | -5.6M |
| Net PPE Purchase And Sale | -3.8M | -4.7M | -5.6M | -8.1M | -5.3M |
| Investing Cash Flow | -4.0M | -3.9M | -10.9M | -6.9M | -1.8M |
| Cash Flow From Continuing Investing Activities | -4.0M | -3.9M | -10.9M | -6.9M | -1.8M |
| Issuance Of Debt | -- | 6.8M | -- | 6.0M | -- |
| Repayment Of Debt | -13.9M | -1.0M | -1.9M | -11.4M | -5.1M |
| Net Issuance Payments Of Debt | -13.9M | 5.8M | -2.9M | -5.4M | -5.1M |
| Financing Cash Flow | -14.3M | 1.2M | -3.6M | -10.1M | -5.4M |
| Cash Flow From Continuing Financing Activities | -14.3M | 1.2M | -3.6M | -10.1M | -5.4M |
| Changes In Cash | 1.5M | -26,000 | -147,000 | -11.6M | 12.1M |
| Beginning Cash Position | 3.8M | 3.8M | 3.9M | 15.5M | 3.4M |
| End Cash Position | 5.2M | 3.8M | 3.8M | 3.9M | 15.5M |
| Free Cash Flow | 13.8M | -2.3M | 8.5M | -2.8M | 13.6M |
| Cash Dividends Paid | 0.00 | -- | 0.00 | 0.00 | 0.00 |
| Depreciation | 10.3M | 10.0M | 10.4M | 10.1M | 10.1M |
| Dividends Received Cfi | 0.00 | -91,000 | -142,000 | -123,000 | 0.00 |
| Interest Paid Cff | -408,000 | -- | -389,000 | -4.5M | -285,000 |
| Long Term Debt Issuance | -- | 6.8M | -- | 6.0M | -- |
| Long Term Debt Payments | -13.9M | -1.0M | -1.9M | -11.4M | -5.1M |
| Net Income From Continuing Operations | -4.6M | 2.4M | -2.0M | -1.2M | -5.1M |
| Net Long Term Debt Issuance | -13.9M | 5.8M | -2.9M | -5.4M | -5.1M |
| Net Other Financing Charges | -- | -4.6M | -280,000 | -272,000 | -- |
| Net Other Investing Changes | -216,000 | 914,000 | -5.2M | 1.3M | 3.5M |
| Sale Of PPE | 2.1M | 267,000 | 257,000 | 154,000 | 340,000 |