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	Jun '25 Jun 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
Revenue	830	853	1,022	836	691	633
Revenue Growth (YoY)	-13.45%	-16.54%	22.25%	20.98%	9.16%	10.28%
Operations and Maintenance Expenses	335	330	484	346	214	218
Gross Profit	495	523	538	490	477	415
Depreciation & Amortization Expenses	303	297	293	295	297	237
Other Operating Expenses	11	0	22	87	2	10
Operating Income	184	226	226	112	182	172
Interest Income	38	46	59	37	9	25
Interest Expense	-139	-159	-129	-130	-144	-120
Other Non-Operating Income (Expense)	-5	-3	1	3	1	-7
Total Non-Operating Income (Expense)	-106	-116	-69	-90	-134	-102
Pretax Income	41	110	154	18	44	66
Provision for Income Taxes	20	36	39	10	18	5
Net Income	-10	36	78	30	17	55
Minority Interest in Earnings	31	38	37	-22	9	6
Net Income to Common	-10	36	78	30	17	55
Net Income Growth	-	-53.85%	160.00%	76.47%	-69.09%	-
Shares Outstanding (Basic)	111	103	103	100	106	100
Shares Outstanding (Diluted)	111	103	103	100	106	100
Shares Change (YoY)	32.76%	0.18%	2.63%	-5.88%	6.25%	10.26%
EPS (Basic)	-0.09	0.35	0.76	0.30	0.16	0.55
EPS (Diluted)	-0.09	0.35	0.76	0.30	0.16	0.55
EPS Growth	-	-53.95%	153.33%	87.50%	-70.91%	-
Free Cash Flow	-514	-183	236	267	178	217
Free Cash Flow Growth	-	-	-11.61%	50.00%	-17.97%	60.74%
Free Cash Flow Per Share	-	-1.78	-	-	-	-
Dividends Per Share	0.660	0.660	0.660	0.660	0.660	0.660
Gross Margin	59.64%	61.31%	52.64%	58.61%	69.03%	65.56%
Operating Margin	22.17%	26.49%	22.11%	13.40%	26.34%	27.17%
Profit Margin	2.53%	8.68%	11.25%	0.96%	3.76%	9.64%
FCF Margin	-61.93%	-21.45%	23.09%	31.94%	25.76%	34.28%
EBITDA	487	523	519	407	479	409
EBITDA Margin	58.67%	61.31%	50.78%	48.68%	69.32%	64.61%
EBIT	184	226	226	112	182	172
EBIT Margin	22.17%	26.49%	22.11%	13.40%	26.34%	27.17%
Effective Tax Rate	48.78%	32.73%	25.32%	55.56%	40.91%	7.58%

Updated Jun 30, 2025. Data Source: Fiscal.ai. Utilities template. Financial Sources.