Tidewater Renewables Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	269.73	426.54	97.68	76.1	34.58
Revenue Growth (YoY)	-30.92%	336.68%	28.36%	120.05%	-
Cost of Revenue	220.56	308.39	53.63	29.97	11.06
Gross Profit	49.17	118.15	44.05	46.13	23.52
Selling, General & Admin	3.51	6.52	7.97	5.83	1.28
Other Operating Expenses	-6.15	24.43	56.76	-28.45	0.69
Operating Expenses	17.97	62.23	95.13	0.05	13.05
Operating Income	31.2	55.93	-51.08	46.08	10.48
Interest Expense	-23.62	-36.96	-21.75	-7.06	-2.04
Earnings From Equity Investments	14.75	4.53	0.68	0.22	-
Currency Exchange Gain (Loss)	-1.76	-3.22	0.82	-1.18	-0.11
Other Non Operating Income (Expenses)	-6.71	0.83	9.14	-2.16	-2.33
EBT Excluding Unusual Items	13.85	21.1	-62.19	35.91	6
Gain (Loss) on Sale of Investments	-0.4	-2.5	-	-	-
Gain (Loss) on Sale of Assets	1.98	-489.05	-	-	-
Asset Writedown	0.4	-0.4	-	-	-
Other Unusual Items	-2.63	-2.63	-1.67	-	-
Pretax Income	13.21	-473.46	-63.85	35.91	6
Income Tax Expense	-0.71	-115.62	-22.83	9.97	1.85
Net Income	13.92	-357.85	-41.02	25.94	4.14
Net Income to Common	13.92	-357.85	-41.02	25.94	4.14
Net Income Growth	-	-	-	525.94%	-
Shares Outstanding (Basic)	36	35	35	35	20
Shares Outstanding (Diluted)	37	35	35	35	20
Shares Change (YoY)	5.84%	1.56%	-0.45%	75.31%	-
EPS (Basic)	0.38	-10.15	-1.18	0.75	0.21
EPS (Diluted)	0.37	-10.15	-1.18	0.74	0.21
EPS Growth	-	-	-	255.33%	-
Free Cash Flow	-5.65	30.6	-180.02	-177.13	-34.18
Free Cash Flow Per Share	-0.15	0.87	-5.18	-5.08	-1.72
Gross Margin	18.23%	27.70%	45.10%	60.62%	68.02%
Operating Margin	11.57%	13.11%	-52.29%	60.55%	30.29%
Profit Margin	5.16%	-83.89%	-41.99%	34.09%	11.98%
Free Cash Flow Margin	-2.10%	7.17%	-184.30%	-232.77%	-98.84%
EBITDA	46.41	82.17	-30.7	60.78	17.97
EBITDA Margin	17.20%	19.26%	-31.43%	79.87%	51.98%
D&A For EBITDA	15.21	26.24	20.38	14.7	7.5
EBIT	31.2	55.93	-51.08	46.08	10.48
EBIT Margin	11.57%	13.11%	-52.29%	60.55%	30.29%
Effective Tax Rate	-	-	-	27.75%	30.87%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.