Yellow Pages Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	198.88	214.83	239.43	268.28	287.65
Revenue Growth (YoY)	-7.42%	-10.28%	-10.75%	-6.73%	-13.76%
Cost of Revenue	155.84	163.99	162.57	172.81	185.65
Gross Profit	43.04	50.84	76.86	95.47	102
Selling, General & Admin	1.68	1.48	1.95	2.33	3.25
Other Operating Expenses	-	-	0.17	0.33	-0.16
Operating Expenses	14	14.91	15.78	18.05	22.73
Operating Income	29.05	35.93	61.08	77.42	79.27
Interest Expense	-0.78	-1.01	-1.22	-1.38	-6.82
Interest & Investment Income	1.61	1.52	2.87	2.06	0.9
Other Non Operating Income (Expenses)	-0.86	0.02	-0.43	-0.17	-0.17
EBT Excluding Unusual Items	29.02	36.46	62.3	77.94	73.18
Merger & Restructuring Charges	-4.26	-2.03	-1.54	-1.5	-5.5
Asset Writedown	-	-	-0.5	-1.4	-
Other Unusual Items	-3.97	-	-	1.1	-7.76
Pretax Income	20.79	34.43	60.26	76.13	59.91
Income Tax Expense	2.68	9.45	12.87	2.7	-10.72
Net Income	18.11	24.98	47.4	73.43	70.64
Net Income to Common	18.11	24.98	47.4	73.43	70.64
Net Income Growth	-27.51%	-47.30%	-35.45%	3.96%	17.14%
Shares Outstanding (Basic)	14	14	18	24	26
Shares Outstanding (Diluted)	14	14	18	24	27
Shares Change (YoY)	0.11%	-22.62%	-25.76%	-10.41%	-17.92%
EPS (Basic)	1.33	1.84	2.70	3.10	2.68
EPS (Diluted)	1.31	1.82	2.65	3.02	2.64
EPS Growth	-27.91%	-31.25%	-12.46%	14.56%	25.43%
Free Cash Flow	35.01	38.95	46.73	49.41	104.46
Free Cash Flow Per Share	2.54	2.83	2.63	2.06	3.91
Dividend Per Share	1.000	1.000	0.850	0.600	0.600
Dividend Growth	-	17.65%	41.67%	-	36.36%
Gross Margin	21.64%	23.66%	32.10%	35.59%	35.46%
Operating Margin	14.61%	16.72%	25.51%	28.86%	27.56%
Profit Margin	9.11%	11.63%	19.80%	27.37%	24.56%
Free Cash Flow Margin	17.61%	18.13%	19.52%	18.42%	36.32%
EBITDA	37.26	44.26	69.49	85.81	88.55
EBITDA Margin	18.73%	20.60%	29.02%	31.99%	30.78%
D&A For EBITDA	8.21	8.34	8.41	8.39	9.27
EBIT	29.05	35.93	61.08	77.42	79.27
EBIT Margin	14.61%	16.72%	25.51%	28.86%	27.56%
Effective Tax Rate	12.90%	27.45%	21.35%	3.55%	-

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