Financials George Weston Limited

Equities

WN

CA9611485090

Food Retail & Distribution

Market Closed - Toronto S.E. Other stock markets 04:28:05 2025-02-07 pm EST			5-day change	1st Jan Change
223.36 ^CAD	-0.36%		-0.57%	-0.08%

Jan. 20	Canadian Tire Says Darren Myers To Take Over As CFO, Effective April 1	MT
Jan. 16	Empire Company to Remove Property Control For Crowsnest Pass, Alberta After Investigation	MT

Projected Income Statement: George Weston Limited

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	50,109	54,705	53,748	57,048	60,124	61,666	64,045	66,107
Change	-	9.17%	-1.75%	6.14%	5.39%	2.56%	3.86%	3.22%
EBITDA ¹	5,483	5,607	5,995	6,551	6,953	7,293	7,615	7,532
Change	-	2.26%	6.92%	9.27%	6.14%	4.89%	4.42%	-1.1%
EBIT ¹	3,682	3,719	4,194	4,641	4,920	5,244	5,672	6,140
Change	-	1%	12.77%	10.66%	6.01%	6.58%	8.16%	8.26%
Interest Paid ¹	-1,154	-1,117	-1,050	-1,022	-1,120	-1,207	-1,150	-1,182
Earnings before Tax (EBT)	1,254	2,057	2,377	3,640	-	-	-	-
Change	-	64.04%	15.56%	53.13%	-100%	-	-	-
Net income ¹	242	963	431	1,816	1,496	1,497	1,516	1,416
Change	-	297.93%	-55.24%	321.35%	-17.62%	0.07%	1.27%	-6.6%
Announcement Date	2/25/20	3/2/21	3/2/22	3/1/23	2/28/24	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	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	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	12,107	12,333	12,357	16,209	13,806	12,352	12,931	16,192	12,902	12,407	12,979	17,520	14,142	13,133	13,884	18,407	14,700	13,735	14,091	18,685	14,999	14,184	14,627	19,327	15,429	-	-	-
Change	-	1.87%	0.19%	31.17%	-14.83%	-10.53%	4.69%	25.22%	-20.32%	-3.84%	4.61%	34.99%	-19.28%	-7.13%	5.72%	32.58%	-20.14%	-6.56%	2.59%	32.6%	-19.73%	-5.43%	3.12%	32.13%	-20.17%	-100%	-	-
EBITDA ¹	1,351	1,304	1,087	1,715	1,501	1,335	1,489	1,780	1,453	1,422	1,588	1,951	1,590	1,507	1,733	2,019	1,694	1,623	1,806	2,158	1,775	1,703	1,907	2,304	1,935	1,839	2,026	2,431
Change	-	-3.48%	-16.64%	57.77%	-12.48%	-11.06%	11.54%	19.54%	-18.37%	-2.13%	11.67%	22.86%	-18.5%	-5.22%	15%	16.5%	-16.1%	-4.19%	11.28%	19.49%	-17.74%	-4.09%	11.99%	20.85%	-16.01%	-4.96%	10.16%	19.96%
EBIT ¹	922	872	649	1,144	1,054	892	1,033	-	1,033	1,166	1,150	1,373	1,128	-	1,264	-	1,207	1,124	1,323	1,526	1,288	1,233	1,419	1,655	1,388	-	-	-
Change	-	-5.42%	-25.57%	76.27%	-7.87%	-15.37%	15.81%	-100%	-	12.88%	-1.37%	19.39%	-17.84%	-100%	-	-100%	-	-6.88%	17.7%	15.34%	-15.6%	-4.27%	15.09%	16.63%	-16.13%	-100%	-	-
Charge d'intérêts ¹	-360	-256	-267	-308	-286	347	-267	-287	-253	-240	-238	-290	-254	-71	-158	-304	-278	-215	-281	-317	-283	-284	-284	-349	-288	-	-	-
Earnings before Tax (EBT)	711	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	433	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/25/20	5/5/20	7/28/20	11/17/20	3/2/21	5/11/21	7/30/21	11/23/21	3/2/22	5/10/22	7/29/22	11/22/22	3/1/23	5/9/23	8/1/23	11/21/23	2/28/24	5/7/24	7/30/24	11/19/24	-	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: George Weston Limited

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	19,105	17,713	10,649	12,676	12,936	13,028	13,198	13,545
Change	-	-7.29%	-39.88%	19.03%	2.05%	0.71%	1.3%	2.63%
Announcement Date	2/25/20	3/2/21	3/2/22	3/1/23	2/28/24	-	-	-

¹CAD in Million

Estimates

Cash Flow Forecast: George Weston Limited

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	1,558	1,592	1,456	1,893	2,379	2,174	2,074	2,114
Change	-	2.18%	-8.54%	30.01%	25.67%	-8.6%	-4.62%	1.93%
Free Cash Flow (FCF) ¹	2,997	4,286	2,078	1,417	1,706	1,221	1,630	2,010
Change	-	43.01%	-51.52%	-31.81%	20.4%	-28.45%	33.56%	23.26%
Announcement Date	2/25/20	3/2/21	3/2/22	3/1/23	2/28/24	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: George Weston Limited

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	10.94%	10.25%	11.15%	11.48%	11.56%	11.83%	11.89%	11.39%
EBIT Margin (%)	7.35%	6.8%	7.8%	8.14%	8.18%	8.5%	8.86%	9.29%
EBT Margin (%)	2.5%	3.76%	4.42%	6.38%	-	-	-	-
Net margin (%)	0.48%	1.76%	0.8%	3.18%	2.49%	2.43%	2.37%	2.14%
FCF margin (%)	5.98%	7.83%	3.87%	2.48%	2.84%	1.98%	2.55%	3.04%
FCF / Net Income (%)	1,238.43%	445.07%	482.13%	78.03%	114.04%	81.54%	107.54%	141.91%
Profitability
ROA	0.53%	2.01%	0.91%	3.78%	3.03%	3%	3%	2.8%
ROE	3.09%	12.49%	5.84%	26.32%	22.14%	11.9%	12.1%	11.2%
Financial Health
Leverage (Debt/EBITDA)	3.48x	3.16x	1.78x	1.93x	1.86x	1.79x	1.73x	1.8x
Debt / Free cash flow	6.37x	4.13x	5.12x	8.95x	7.58x	10.67x	8.1x	6.74x
Capital Intensity
CAPEX / Current Assets (%)	3.11%	2.91%	2.71%	3.32%	3.96%	3.53%	3.24%	3.2%
CAPEX / EBITDA (%)	28.42%	28.39%	24.29%	28.9%	34.22%	29.82%	27.23%	28.07%
CAPEX / FCF (%)	51.99%	37.14%	70.07%	133.59%	139.45%	178.14%	127.21%	105.2%
Items per share
Cash flow per share ¹	-	-	-	44.92	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	2.09	2.125	2.3	2.58	2.799	3.172	3.473	3.48
Change	-	1.67%	8.24%	12.17%	8.49%	13.31%	9.51%	0.2%
Book Value Per Share ¹	49.54	51.35	-	-	-	-	-	-
Change	-	3.64%	-	-	-	-	-	-
EPS ¹	1.26	5.96	2.52	12.16	10.75	11.34	12.23	12
Change	-	373.02%	-57.72%	382.54%	-11.6%	5.49%	7.85%	-1.88%
Nbr of stocks (in thousands)	153,802	153,414	147,967	141,241	135,797	130,045	130,045	130,045
Announcement Date	2/25/20	3/2/21	3/2/22	3/1/23	2/28/24	-	-	-