Financials Birchcliff Energy Ltd.

Equities

Market Closed - Toronto S.E. Other stock markets 04:00:00 2025-03-14 pm EDT			5-day change	1st Jan Change
5.740 ^CAD	+0.70%		+10.38%	+5.90%

Mar. 13	Toronto stocks slip as tariff jitters keep investors on edge	RE
Mar. 12	Birchcliff Energy Releases Updated 2025 Guidance on an Improving Outlook for Natural-Gas Prices	MT

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	528.5	932.4	1,340	739.7	587	811	945	-
Change	-	76.42%	43.73%	-44.81%	-20.64%	38.17%	16.52%	-100%
EBITDA ¹	203.2	587.1	978.8	348.3	269.4	576.7	551.3	521
Change	-	188.9%	66.72%	-64.42%	-22.64%	114.03%	-4.39%	-5.5%
EBIT	-41.13	374.3	765	121.8	22.78	-	-	-
Change	-	-	104.36%	-84.08%	-81.29%	-100%	-	-
Interest Paid	-30.11	-33.24	-19.24	-26.41	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	2/10/21	2/9/22	3/15/23	2/14/24	2/12/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales	123.3	-	158.3	185.6	193.6	263.3	289.8	286	394.2	387.7	320.4	208.6	171.3	177.1	-	163.3	147	-	-	-
Change	-	-100%	-	17.26%	4.33%	36%	10.05%	-1.32%	37.84%	-1.66%	-17.35%	-34.88%	-17.9%	3.41%	-100%	-	-9.97%	-100%	-	-
EBITDA ¹	56.77	39.22	73.72	92.87	97.82	245.2	204.8	188.2	267.8	271.3	228.3	100.2	78.35	84.21	85.55	72.31	61.49	55.7	79.93	137
Change	-	-30.91%	87.95%	25.98%	5.33%	150.64%	-16.45%	-8.13%	42.31%	1.28%	-15.83%	-56.13%	-21.77%	7.47%	1.59%	-15.48%	-14.96%	-9.43%	43.51%	71.4%
EBIT	-	-	65.37	39.92	67.4	188.1	150.9	170.5	217.3	217.5	169.8	44.69	21.89	29.08	-	13.59	15.65	-	-	-
Change	-	-	-	-38.92%	68.81%	179.07%	-19.75%	12.93%	27.5%	0.09%	-21.93%	-73.69%	-51.01%	32.83%	-100%	-	15.14%	-100%	-	-
Charge d'intérêts	-5.988	-5.753	-9.529	-9.132	-9.444	-8.3	-6.362	-4.367	-4.818	-4.756	-5.298	-4.761	-6.017	-7.398	-	-9.165	-10.66	-	-	-
Earnings before Tax (EBT)	-56.86	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-44.15	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	5/13/20	8/12/20	2/10/21	5/12/21	8/11/21	11/10/21	2/9/22	5/11/22	8/10/22	11/9/22	3/15/23	5/10/23	8/10/23	11/14/23	2/14/24	5/15/24	8/14/24	11/14/24	2/12/25	-

¹CAD in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	771	539	132	372	-	368	194	66
Change	-	-30.09%	-75.51%	181.82%	-	-	-47.28%	-65.98%
Announcement Date	2/10/21	2/9/22	3/15/23	2/14/24	2/12/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2025	2026	2027
CAPEX ¹	289.7	232.5	368.2	307.9	282	291.5	353
Change	-	-19.74%	58.39%	-16.38%	-	3.38%	21.08%
Free Cash Flow (FCF) ¹	-101.5	307.3	585.5	12.61	206.6	245	22
Change	-	-402.74%	90.54%	-97.85%	-	18.61%	-91.02%
Announcement Date	2/10/21	2/9/22	3/15/23	2/14/24	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	38.45%	62.97%	73.04%	47.09%	45.9%	71.11%	58.34%	-
EBIT Margin (%)	-	-7.78%	40.15%	57.08%	16.46%	3.88%	-	-	-
EBT Margin (%)	-	-	-	-	-	-	-	-	-
Net margin (%)	-	-	-	-	-	-	-	-	-
FCF margin (%)	-	-19.2%	32.95%	43.68%	1.71%	-	25.47%	25.93%	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-1.24%	-1.04%	9.27%	17.84%	0.88%	2.26%	-	-	-
ROE	-3.19%	-3.48%	17.75%	30.34%	0.42%	2.54%	-	-	-
Financial Health
Leverage (Debt/EBITDA)	-	3.8x	0.92x	0.13x	1.07x	-	0.64x	0.35x	0.13x
Debt / Free cash flow	-	-7.6x	1.75x	0.23x	29.5x	-	1.78x	0.79x	3x
Capital Intensity
CAPEX / Current Assets (%)	-	54.81%	24.93%	27.48%	41.63%	-	34.77%	30.85%	-
CAPEX / EBITDA (%)	-	142.54%	39.6%	37.62%	88.41%	-	48.9%	52.88%	67.75%
CAPEX / FCF (%)	-	-285.41%	75.66%	62.9%	2,441.26%	-	136.51%	118.98%	1,604.55%
Items per share
Cash flow per share ¹	-	0.69	2.03	3.47	1.15	0.8119	1.778	1.915	1.46
Change	-	-	194.2%	70.94%	-66.86%	-29.4%	118.99%	7.72%	-23.77%
Dividend per Share ¹	-	0.0413	0.025	0.27	0.8	-	0.12	0.12	0.12
Change	-	-	-39.47%	980%	196.3%	-	-	0%	0%
Book Value Per Share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EPS ¹	-	-0.23	-	2.38	0.04	0.21	1	0.87	-
Change	-	-	-	-	-98.32%	425%	376.19%	-13%	-
Nbr of stocks (in thousands)	-	265,939	265,176	265,937	266,543	270,306	271,661	271,661	271,661
Announcement Date	-	2/10/21	2/9/22	3/15/23	2/14/24	2/12/25	-	-	-