Labrador Iron Ore Royalty 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
Revenue	182.93	207.51	200.17	232.32	279.47	201.93
Revenue Growth (YoY)	-10.99%	3.67%	-13.84%	-16.87%	38.40%	14.00%
Cost of Revenue	6.38	6.26	6.02	6.42	6.17	6.19
Gross Profit	176.55	201.25	194.15	225.9	273.3	195.74
Selling, General & Admin	3.05	3.06	3.05	3.09	3	3.13
Other Operating Expenses	36.27	41.17	39.71	46.14	55.56	40.03
Operating Expenses	39.32	44.23	42.77	49.24	58.56	43.15
Operating Income	137.23	157.02	151.38	176.66	214.73	152.59
Interest & Investment Income	0.89	1.5	1.13	0.54	0.26	0.37
Earnings From Equity Investments	12.21	60.64	84.68	154.1	229.59	126.02
Pretax Income	150.34	219.16	237.2	331.31	444.58	278.98
Income Tax Expense	40.02	44.12	50.89	65.86	64.81	51.78
Net Income	110.32	175.04	186.31	265.45	379.77	227.2
Net Income to Common	110.32	175.04	186.31	265.45	379.77	227.2
Net Income Growth	-43.30%	-6.05%	-29.82%	-30.10%	67.16%	10.64%
Shares Outstanding (Basic)	64	64	64	64	64	64
Shares Outstanding (Diluted)	64	64	64	64	64	64
Shares Change (YoY)	0.42%	-0.03%	0.03%	-	-	-
EPS (Basic)	1.72	2.73	2.91	4.15	5.93	3.55
EPS (Diluted)	1.72	2.73	2.91	4.15	5.93	3.55
EPS Growth	-43.54%	-6.01%	-29.84%	-30.10%	67.16%	10.64%
Dividend Per Share	1.950	3.000	2.550	3.100	6.000	2.550
Dividend Growth	-27.78%	17.65%	-17.74%	-48.33%	135.29%	155.00%
Gross Margin	96.51%	96.98%	96.99%	97.23%	97.79%	96.94%
Operating Margin	75.02%	75.67%	75.63%	76.04%	76.84%	75.56%
Profit Margin	60.30%	84.35%	93.08%	114.26%	135.89%	112.51%
EBIT	137.23	157.02	151.38	176.66	214.73	152.59
EBIT Margin	75.02%	75.67%	75.63%	76.04%	76.84%	75.56%
Effective Tax Rate	26.62%	20.13%	21.45%	19.88%	14.58%	18.56%
Revenue as Reported	183.82	209	201.3	232.86	279.73	202.29

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.