Income Statement

Revenue

-30%

+28%

10Y

Currency: CAD

	Dec-2001	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025
Revenue
Interest Expense	15	14	13	14	16	17	19	19	20	21	22	23	44	30	36	39	40	38	34	32	33	33	34	35	34	35	35	39	43	45	48	49	52	58	63	66	60	67	69	72	76	80	90	99	109	117	112	105	97	94	97	94	90	88	83	103	103	102	104	94	102	108	112	132	171	213	257	273	274	281	286	296	308	329	353	378	401	409	416	422	424	428	431	438	446	449	452	454	454	468	503	539	575	594	591	591
Revenue	192 N/A	201 +5%	210 +4%	216 +3%	225 +4%	226 +1%	228 +1%	235 +3%	243 +4%	254 +4%	264 +4%	273 +3%	279 +2%	279 0%	282 +1%	285 +1%	291 +2%	303 +4%	316 +4%	329 +4%	341 +4%	372 +9%	415 +12%	460 +11%	505 +10%	535 +6%	590 +10%	660 +12%	675 +2%	690 +2%	694 +1%	705 +2%	812 +15%	943 +16%	1 144 +21%	1 198 +5%	1 232 +3%	1 338 +9%	1 464 +9%	1 498 +2%	1 676 +12%	1 757 +5%	2 115 +20%	2 630 +24%	3 427 +30%	4 201 +23%	4 505 +7%	4 989 +11%	5 006 +0%	5 517 +10%	5 948 +8%	6 092 +2%	6 069 0%	5 464 -10%	5 071 -7%	4 652 -8%	4 635 0%	4 498 -3%	4 312 -4%	4 256 -1%	4 265 +0%	4 728 +11%	4 860 +3%	4 935 +2%	5 400 +9%	5 757 +7%	6 543 +14%	7 341 +12%	7 351 +0%	7 280 -1%	7 143 -2%	7 000 -2%	7 230 +3%	6 933 -4%	6 393 -8%	6 262 -2%	6 202 -1%	6 576 +6%	7 210 +10%	7 790 +8%	8 627 +11%	9 649 +12%	10 842 +12%	11 472 +6%	11 611 +1%	10 870 -6%	9 845 -9%	9 358 -5%	6 331 -32%	8 368 +32%	8 153 -3%	7 705 -5%	7 384 -4%	8 126 +10%	8 063 -1%	8 010 -1%
Gross Profit
Cost of Revenue	(71)	(73)	(76)	(81)	(89)	(94)	(96)	(96)	(96)	(98)	(103)	(105)	(105)	(104)	(101)	(100)	(103)	(108)	(113)	(119)	(126)	(143)	(177)	(212)	(245)	(268)	(314)	(374)	(372)	(387)	(377)	(373)	(474)	(602)	(817)	(900)	(953)	(1 052)	(1 155)	(1 169)	(1 322)	(1 391)	(1 683)	(2 178)	(2 889)	(3 561)	(3 850)	(4 260)	(4 213)	(4 625)	(5 019)	(5 125)	(5 193)	(4 662)	(4 283)	(3 879)	(3 769)	(3 623)	(3 389)	(3 288)	(3 264)	(3 588)	(3 699)	(3 746)	(3 926)	(4 091)	(4 635)	(5 122)	(5 024)	(4 933)	(4 678)	(4 507)	(4 788)	(4 346)	(3 980)	(3 899)	(3 880)	(4 352)	(4 891)	(5 352)	(5 980)	(6 774)	(7 806)	(8 244)	(8 488)	(7 932)	(6 959)	(6 687)	(3 491)	(5 470)	(5 099)	(4 563)	(4 068)	(4 612)	(4 584)	(4 620)
Gross Profit	120 N/A	128 +6%	134 +5%	136 +1%	136 N/A	133 -2%	132 -1%	139 +6%	147 +6%	156 +6%	162 +4%	168 +4%	174 +4%	176 +1%	181 +3%	185 +2%	188 +1%	195 +4%	203 +4%	210 +4%	215 +2%	229 +6%	238 +4%	249 +4%	260 +5%	266 +2%	275 +3%	285 +4%	303 +6%	304 +0%	317 +4%	332 +5%	338 +2%	340 +1%	327 -4%	299 -9%	280 -6%	287 +3%	309 +8%	329 +6%	354 +8%	365 +3%	432 +18%	452 +5%	538 +19%	640 +19%	655 +2%	729 +11%	793 +9%	891 +12%	928 +4%	967 +4%	876 -9%	802 -8%	788 -2%	773 -2%	866 +12%	875 +1%	923 +5%	968 +5%	1 001 +3%	1 140 +14%	1 161 +2%	1 189 +2%	1 474 +24%	1 666 +13%	1 908 +15%	2 219 +16%	2 327 +5%	2 347 +1%	2 465 +5%	2 493 +1%	2 442 -2%	2 587 +6%	2 413 -7%	2 363 -2%	2 322 -2%	2 224 -4%	2 319 +4%	2 438 +5%	2 647 +9%	2 875 +9%	3 036 +6%	3 228 +6%	3 123 -3%	2 938 -6%	2 886 -2%	2 671 -7%	2 840 +6%	2 898 +2%	3 054 +5%	3 142 +3%	3 316 +6%	3 514 +6%	3 479 -1%	3 390 -3%
Operating Income
Operating Expenses	(92)	(89)	(85)	(83)	(80)	(81)	(84)	(86)	(90)	(95)	(98)	(98)	(99)	(99)	(99)	(102)	(104)	(107)	(116)	(117)	(117)	(111)	(100)	(100)	(102)	(107)	(114)	(118)	(125)	(127)	(127)	(125)	(122)	(100)	(81)	(68)	(49)	(54)	(54)	(52)	(62)	(56)	(73)	(90)	(97)	(122)	(112)	(117)	(132)	(139)	(148)	(188)	(174)	(184)	(183)	(159)	(181)	(191)	(205)	(203)	(194)	(193)	(207)	(227)	(264)	(271)	(288)	(294)	(306)	(319)	(316)	(308)	(311)	(312)	(574)	(564)	(228)	(241)	(306)	(11)	(58)	(545)	(51)	(397)	(528)	611	590	(504)	(416)	(192)	(415)	(452)	(419)	(1 081)	(476)	(459)
Selling, General & Administrative	(10)	(11)	(11)	(11)	(12)	(12)	(13)	(13)	(13)	(14)	(14)	(15)	(15)	(16)	(17)	(18)	(18)	(21)	(29)	(31)	(31)	(31)	(26)	(29)	(35)	(39)	(45)	(48)	(52)	(52)	(50)	(49)	(51)	(49)	(51)	(55)	(47)	(54)	(54)	(52)	(60)	(65)	(78)	(91)	(97)	(113)	(113)	(116)	(132)	(136)	(145)	(171)	(156)	(168)	(170)	(141)	(143)	(158)	(167)	(182)	(175)	(197)	(208)	(210)	(213)	(211)	(230)	(244)	(253)	(265)	(252)	(253)	(260)	(246)	(233)	(221)	(208)	(234)	(253)	(265)	(267)	(287)	(298)	(306)	(360)	(346)	(339)	(366)	(383)	(396)	(423)	(436)	(394)	(418)	(401)	(407)
Depreciation & Amortization	(82)	(78)	(74)	(72)	(68)	(70)	(71)	(74)	(77)	(81)	(84)	(83)	(84)	(83)	(82)	(84)	(85)	(86)	(87)	(86)	(86)	(80)	(75)	(71)	(67)	(68)	(69)	(70)	(72)	(75)	(77)	(76)	(70)	0	0	0	(2)	0	0	0	(2)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(2)	(14)	0	0	0	(20)	0	(6)	(11)	(23)	(26)	(24)	(26)	(26)	(27)	(36)	(34)	(36)	(37)	(33)	(37)	(38)	(38)	(39)	(39)	(39)	(39)	(39)	(39)	(39)	(38)	(39)	(40)	(39)	(42)	(43)	(46)	(50)	(52)	(54)	(54)
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(0)	(50)	(30)	(13)	(1)	0	0	0	0	9	6	0	0	(10)	0	0	0	(1)	(2)	(16)	(18)	(16)	(13)	(16)	(24)	(33)	(38)	(21)	1	4	7	(6)	(28)	(34)	(34)	(24)	(27)	(27)	(28)	(21)	(15)	(29)	(308)	(306)	18	31	(14)	293	248	(219)	286	(52)	(129)	995	968	(98)	6	246	51	30	25	(611)	(21)	2
Operating Income	28 N/A	39 +39%	49 +24%	52 +7%	56 +6%	52 -8%	48 -7%	53 +10%	57 +8%	61 +7%	63 +4%	70 +10%	75 +8%	77 +2%	82 +6%	84 +2%	84 +1%	88 +4%	87 -1%	93 +8%	99 +6%	117 +19%	138 +17%	149 +8%	158 +6%	159 +1%	162 +2%	167 +3%	178 +7%	177 -1%	190 +7%	206 +9%	217 +5%	241 +11%	246 +2%	231 -6%	230 0%	232 +1%	256 +10%	277 +8%	292 +5%	309 +6%	359 +16%	363 +1%	441 +22%	518 +17%	543 +5%	612 +13%	661 +8%	752 +14%	780 +4%	779 0%	702 -10%	618 -12%	605 -2%	614 +1%	685 +12%	684 0%	718 +5%	765 +7%	807 +5%	947 +17%	954 +1%	962 +1%	1 210 +26%	1 395 +15%	1 620 +16%	1 925 +19%	2 021 +5%	2 028 +0%	2 149 +6%	2 185 +2%	2 131 -2%	2 275 +7%	1 839 -19%	1 799 -2%	2 094 +16%	1 983 -5%	2 013 +2%	2 427 +21%	2 589 +7%	2 330 -10%	2 985 +28%	2 831 -5%	2 595 -8%	3 549 +37%	3 476 -2%	2 167 -38%	2 424 +12%	2 706 +12%	2 639 -2%	2 690 +2%	2 897 +8%	2 433 -16%	3 003 +23%	2 931 -2%
Pre-Tax Income
Interest Income Expense	(15)	(14)	(13)	(14)	(16)	(17)	(19)	(19)	(20)	(21)	(22)	(23)	(44)	(30)	(36)	(39)	(41)	(38)	(34)	(32)	(33)	(33)	(34)	(35)	(34)	(35)	(35)	(39)	(43)	(45)	(48)	(49)	(52)	(56)	(62)	(70)	(54)	(55)	(54)	(57)	(76)	(93)	(98)	(93)	(103)	(93)	(91)	(101)	(157)	(166)	(191)	(206)	(143)	(98)	(76)	(38)	(70)	(94)	(106)	(127)	(142)	(132)	(124)	(141)	(173)	(202)	(265)	(282)	(267)	(287)	(268)	(277)	(281)	(409)	(403)	(407)	(405)	(301)	(324)	(386)	(434)	(439)	(468)	(464)	(470)	(472)	(457)	(447)	(450)	(446)	(477)	(495)	(541)	(582)	(591)	(594)
Non-Reccuring Items	4	4	1	(1)	(1)	(1)	(1)	(1)	(2)	(2)	(1)	(1)	(2)	(1)	(2)	(2)	(1)	(1)	(1)	(1)	(1)	(3)	(4)	(4)	(4)	(3)	17	38	37	37	15	(8)	(7)	(6)	(3)	(0)	0	(1)	0	(2)	(1)	(23)	(25)	(32)	(26)	0	(11)	0	(1)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(300)	(300)	0	0	(2 090)	(2 102)	(2 125)	(2 125)	(474)	0	(439)	671	1 110	0	0	0	231	0	(385)	(385)	(616)	0	0	0
Total Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(8)	(3)	(5)	(8)	(10)	0	(1)	(2)	(12)	(47)	(46)	(45)	(9)	(10)	(10)	(10)	(9)	(8)	(9)	(9)	(10)	(10)	(10)	(11)	(10)	(11)	(11)	(11)	(12)	(12)	(12)	(12)	(12)	(12)	(13)	(13)	(8)	(9)	(9)	(11)	(15)	(14)	(14)	(13)	(16)	(16)	(16)	(16)	(16)	(16)	(16)	(16)	(16)	(17)	(18)	(19)	(20)	(21)	(22)	(23)
Pre-Tax Income	17 N/A	29 +74%	36 +24%	38 +4%	39 +3%	34 -14%	28 -16%	33 +15%	35 +8%	39 +9%	41 +6%	45 +11%	29 -35%	46 +56%	44 -3%	43 -3%	43 0%	50 +16%	52 +5%	61 +16%	65 +7%	81 +26%	100 +22%	111 +11%	120 +8%	121 +1%	144 +18%	166 +16%	173 +4%	170 -2%	157 -8%	149 -5%	158 +6%	179 +13%	181 +1%	160 -12%	168 +5%	174 +4%	197 +13%	211 +7%	205 -3%	192 -6%	236 +23%	237 +0%	300 +27%	378 +26%	395 +5%	466 +18%	494 +6%	576 +17%	579 +0%	563 -3%	550 -2%	512 -7%	520 +2%	567 +9%	605 +7%	580 -4%	602 +4%	627 +4%	655 +4%	804 +23%	819 +2%	810 -1%	1 025 +27%	1 181 +15%	1 343 +14%	1 631 +21%	1 742 +7%	1 729 -1%	1 868 +8%	1 895 +1%	1 542 -19%	1 557 +1%	1 427 -8%	1 381 -3%	(416) N/A	(434) -4%	(450) -4%	(97) +78%	1 665 N/A	1 875 +13%	2 062 +10%	3 022 +47%	3 219 +7%	3 061 -5%	3 003 -2%	1 704 -43%	2 189 +28%	2 243 +2%	1 759 -22%	1 791 +2%	1 720 -4%	1 830 +6%	2 390 +31%	2 314 -3%
Net Income
Tax Provision	24	23	17	20	21	22	24	24	26	34	33	32	31	26	25	26	28	26	26	23	24	21	22	24	23	20	4	(8)	(11)	(12)	(5)	(1)	4	8	6	14	8	(8)	(20)	(35)	(39)	(36)	(48)	(48)	(75)	(94)	(98)	(128)	(143)	(169)	(188)	(169)	(167)	(156)	(198)	(207)	(199)	(192)	(144)	(162)	(189)	(230)	(241)	(241)	(142)	(178)	(211)	(276)	(464)	(468)	(189)	(180)	(35)	(44)	(325)	(331)	100	124	141	58	(423)	(472)	(495)	(214)	(248)	(202)	(199)	(383)	(413)	(398)	202	209	154	108	(514)	(537)
Income from Continuing Operations	40	52	54	57	60	56	52	57	62	72	74	77	60	71	69	69	70	76	79	83	89	103	121	135	142	141	148	158	162	158	152	148	162	186	188	174	176	166	177	176	166	156	188	189	225	283	297	338	351	408	391	394	383	356	322	360	406	388	458	465	466	574	578	569	883	1 003	1 132	1 355	1 278	1 261	1 679	1 715	1 507	1 513	1 102	1 050	(316)	(310)	(309)	(39)	1 242	1 403	1 567	2 808	2 971	2 859	2 804	1 321	1 776	1 845	1 961	2 000	1 874	1 938	1 876	1 777
Income to Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(0)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(8)	(10)	(10)	0	0	0
Net Income (Common)	40 N/A	50 +23%	49 0%	51 +4%	52 +2%	49 -5%	46 -8%	46 +2%	48 +3%	55 +14%	53 -3%	57 +7%	60 +6%	56 -7%	60 +5%	64 +8%	70 +10%	76 +8%	79 +3%	83 +6%	89 +7%	103 +15%	121 +18%	135 +11%	142 +6%	141 -1%	148 +5%	158 +7%	162 +3%	158 -3%	152 -4%	148 -2%	162 +9%	186 +15%	188 +1%	174 -7%	176 +1%	166 -5%	177 +6%	176 0%	166 -6%	156 -6%	188 +21%	189 +0%	225 +19%	284 +26%	297 +5%	338 +14%	344 +2%	401 +16%	384 -4%	387 +1%	348 -10%	321 -8%	287 -11%	325 +13%	355 +9%	337 -5%	407 +21%	414 +2%	394 -5%	483 +23%	468 -3%	440 -6%	797 +81%	906 +14%	1 024 +13%	1 236 +21%	1 153 -7%	1 135 -2%	1 551 +37%	1 585 +2%	1 376 -13%	1 374 0%	956 -30%	897 -6%	(476) N/A	(470) +1%	(466) +1%	(191) +59%	1 098 N/A	1 264 +15%	1 431 +13%	2 672 +87%	2 842 +6%	2 733 -4%	2 676 -2%	1 197 -55%	1 648 +38%	1 714 +4%	1 822 +6%	1 852 +2%	1 721 -7%	1 781 +3%	1 725 -3%	1 630 -6%
EPS (Diluted)	0.49 N/A	0.57 +16%	0.55 -4%	0.56 +2%	0.57 +2%	0.52 -9%	0.48 -8%	0.49 +2%	0.5 +2%	0.54 +8%	0.54 N/A	0.45 -17%	0.6 +33%	0.54 -10%	0.55 +2%	0.57 +4%	0.65 +14%	0.58 -11%	0.6 +3%	0.63 +5%	0.73 +16%	0.75 +3%	0.87 +16%	1 +15%	1.03 +3%	1.02 -1%	1.07 +5%	1.14 +7%	1.19 +4%	1.12 -6%	1 -11%	0.93 -7%	1.07 +15%	1.12 +5%	1.12 N/A	1.06 -5%	1.04 -2%	0.98 -6%	1.04 +6%	1.04 N/A	0.99 -5%	0.92 -7%	0.65 -29%	0.66 +2%	0.87 +32%	0.95 +9%	0.96 +1%	1.08 +13%	1.12 +4%	1.17 +4%	1.18 +1%	1.18 N/A	1.06 -10%	0.94 -11%	0.83 -12%	0.96 +16%	1.02 +6%	0.89 -13%	1.04 +17%	1.05 +1%	1.01 -4%	1.2 +19%	1.16 -3%	1.1 -5%	1.86 +69%	1.78 -4%	2.01 +13%	2.43 +21%	2.27 -7%	2.24 -1%	3.04 +36%	3.1 +2%	2.68 -14%	2.5 -7%	1.73 -31%	1.65 -5%	-0.87 N/A	-0.85 +2%	-0.84 +1%	-0.35 +58%	1.99 N/A	2.29 +15%	2.59 +13%	4.81 +86%	5.13 +7%	4.96 -3%	4.85 -2%	2.17 -55%	2.99 +38%	3.11 +4%	3.13 +1%	3.18 +2%	3 -6%	3.06 +2%	2.96 -3%	2.8 -5%

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