Labrador Iron Ore Royalty 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	165.88	207.51	200.17	232.32	279.47
Revenue Growth (YoY)	-20.06%	3.67%	-13.84%	-16.87%	38.40%
Gross Profit	165.88	207.51	200.17	232.32	279.47
Selling, General & Admin	3.04	3.06	3.05	3.09	3
Depreciation & Amortization Expenses	6.17	6.26	6.02	6.42	6.17
Other Operating Expenses	32.87	41.17	39.71	46.14	55.56
Total Operating Expenses	42.08	50.49	48.78	55.66	64.73
Operating Income	123.8	157.02	151.38	176.66	214.73
Interest Income	0.65	1.5	1.13	0.54	0.26
Other Non-Operating Income (Expense)	15.86	60.64	84.68	154.1	229.59
Total Non-Operating Income (Expense)	16.51	62.14	85.82	154.64	229.85
Pretax Income	140.31	219.16	237.2	331.31	444.58
Provision for Income Taxes	39.72	44.12	50.89	65.86	64.81
Net Income	100.58	175.04	186.31	265.45	379.77
Net Income to Common	100.58	175.04	186.31	265.45	379.77
Net Income Growth	-42.54%	-6.05%	-29.82%	-30.10%	67.16%
Shares Outstanding (Basic)	64	64	64	64	64
Shares Outstanding (Diluted)	64	64	64	64	64
EPS (Basic)	1.57	2.73	2.91	4.15	5.93
EPS (Diluted)	1.57	2.73	2.91	4.15	5.93
EPS Growth	-42.49%	-6.19%	-29.88%	-30.02%	67.04%
Free Cash Flow	97.07	201.91	152.49	184.19	402.42
Free Cash Flow Growth	-51.92%	32.41%	-17.21%	-54.23%	129.39%
Free Cash Flow Per Share	1.52	3.15	2.38	2.88	6.29
Dividends Per Share	1.550	3.000	2.550	3.100	6.000
Dividend Growth	-48.33%	17.65%	-17.74%	-48.33%	135.29%
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	74.63%	75.67%	75.63%	76.04%	76.84%
Profit Margin	60.64%	84.35%	93.08%	114.26%	135.89%
FCF Margin	58.52%	97.30%	76.18%	79.28%	144.00%
EBITDA	129.98	163.28	157.4	183.09	220.9
EBITDA Margin	78.35%	78.69%	78.63%	78.81%	79.04%
EBIT	123.8	157.02	151.38	176.66	214.73
EBIT Margin	74.63%	75.67%	75.63%	76.04%	76.84%
Effective Tax Rate	28.31%	20.13%	21.46%	19.88%	14.58%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.