Boralex 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	FY 2020
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	Dec '20 Dec 31, 2020
Operating Revenue	783	817	994	818	671	619
Other Revenue	45	36	28	18	20	14
Revenue	828	853	1,022	836	691	633
Revenue Growth (YoY)	-11.92%	-16.54%	22.25%	20.98%	9.16%	10.28%
Selling, General & Admin	72	75	71	55	37	44
Depreciation & Amortization	-	-	-	-	297	-
Amortization of Goodwill & Intangibles	308	297	293	295	-	237
Other Operating Expenses	207	193	367	256	147	152
Total Operating Expenses	645	622	776	639	505	456
Operating Income	183	231	246	197	186	177
Interest Expense	-161	-133	-135	-130	-137	-122
Interest Income	19	19	16	8	-	-
Net Interest Expense	-142	-114	-119	-122	-137	-122
Income (Loss) on Equity Investments	35	46	59	37	9	25
Other Non-Operating Income (Expenses)	-18	-12	-9	-5	-6	-8
EBT Excluding Unusual Items	58	151	177	107	52	72
Total Merger & Restructuring Charges	-1	-1	-3	-4	-4	-4
Impairment of Goodwill	-	-	-	-4	-	-
Gain (Loss) on Sale of Investments	-35	-35	-	-	-	-7
Asset Writedown	-7	-5	-20	-81	-4	-7
Other Unusual Items	-	-	-	-	-	12
Pretax Income	15	110	154	18	44	66
Income Tax Expense	10	36	39	10	18	5
Earnings From Continuing Ops.	5	74	115	8	26	61
Net Income to Company	5	74	115	8	26	61
Minority Interest in Earnings	-28	-38	-37	22	-9	-6
Net Income	-23	36	78	30	17	55
Net Income to Common	-23	36	78	30	17	55
Net Income Growth	-	-53.85%	160.00%	76.47%	-69.09%	-
Shares Outstanding (Basic)	103	103	103	103	103	99
Shares Outstanding (Diluted)	103	103	103	103	103	99
Shares Change (YoY)	-0.04%	-0.00%	0.02%	0.02%	4.16%	8.90%
EPS (Basic)	-0.22	0.35	0.76	0.29	0.17	0.56
EPS (Diluted)	-0.22	0.35	0.76	0.29	0.16	0.55
EPS Growth	-	-53.89%	159.90%	82.52%	-70.91%	-
Free Cash Flow	-321	-183	236	267	178	217
Free Cash Flow Per Share	-3.12	-1.78	2.29	2.60	1.73	2.20
Dividend Per Share	0.660	0.660	0.660	0.660	0.660	0.660
Profit Margin	-2.78%	4.22%	7.63%	3.59%	2.46%	8.69%
Free Cash Flow Margin	-38.77%	-21.45%	23.09%	31.94%	25.76%	34.28%
EBITDA	466	503	516	467	461	395
EBITDA Margin	56.28%	58.97%	50.49%	55.86%	66.72%	62.40%
D&A For EBITDA	283	272	270	270	275	218
EBIT	183	231	246	197	186	177
EBIT Margin	22.10%	27.08%	24.07%	23.57%	26.92%	27.96%
Effective Tax Rate	66.67%	32.73%	25.32%	55.56%	40.91%	7.58%
Revenue as Reported	828	853	1,022	836	691	633

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