Cascades Inc. · TSX:CAS
Cascades — Shareholder Meeting (2025)
41 slides from Cascades's shareholder meeting presentation, 2025
Slide 1: Cascades
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Slide 2: 2025 Annual General Meeting of Shareholders
2025 Annual General Meeting of Shareholders 2
Slide 3: Disclaimer: Forward-Looking Statement
DISCLAIMER FORWARD-LOOKING STATEMENT Certain statements that may be made today, including statements regarding future results and performance, are forward-looking statements within the meaning of securities legislation based on current expectations. The accuracy of such statements is subject to a nu
Slide 4: Patrick Lemaire, Chairman of the Board
Patrick Lemaire Chairman of the Board of Directors 4
Slide 5: Word of Welcome
5 1 Word of Welcome 5
Slide 6: Opening of the 2025 Annual General Meeting
6 2 Opening of the 2025 Annual General Meeting 6
Slide 7: Management Representatives
Management Representatives Patrick Hugues Allan Michael Lemaire Simon Hogg Guerra Chairman of the Board of President and Chief Vice-President and Chief Corporate Secretary Directors Executive Officer Financial Officer 7
Slide 8: Meeting Procedures
8 3 Meeting Procedures 8
Slide 9: Confirmation of the Mailing of the Notice of Meeting, Management Proxy Circular and Proxy Form
9 4 Confirmation of the Mailing of the Notice of Meeting, Management Proxy Circular and Proxy Form 9
Slide 10: Report of the Scrutineers
10 5 Rapport of the Scrutineers 10
Slide 11: Filing of the Audited Consolidated Financial Statements for 2024
11 6 Filing of the Audited Consolidated Financial Statements for the year ended December 31, 2024, and the Independent Auditor’s Report 11
Slide 12: Election of Directors
12 7 Election of Directors 12
Slide 13: Thank you Mario Plourde!
Thank you Mario Plourde!
Slide 14: Election of Directors
14 7 Election of Directors Patrick Alain Sylvie Sylvie Lemaire Lemaire Lemaire Vachon Michelle Hubert T. Nelson Cormier Lacroix Gentiletti Mélanie Elif Alex N. Hugues Dunn Lévesque Blanco Simon 14
Slide 15: Appointment of the Independent Auditor
15 8 Appointment of the Independent Auditor PricewaterhouseCoopers LLP Partnership of chartered professional accountants 15
Slide 16: Advisory Vote on Executive Compensation
16 9 Advisory Vote on Executive Compensation Accepting the Corporation’s Approach to Executive Compensation 16
Slide 17: Shareholder Proposals
17 10 Shareholder Proposals 17
Slide 18: Vote and Voting Results
18 11 Vote and Voting Results 18
Slide 19: 2024 Highlights
2024 Highlights Hugues Simon President and Chief Executive Officer 19
Slide 20: 2024 Financial Results
20 2024 +4% +1% Financial SALES Results ($M) EBITDA (A)1 +48% -10% (1) EBITDA (A) = Adjusted earnings before interest, & taxes, depreciation and amortization. EBITDA (A) Margin = EBITDA (A) as a percentage of sales. OPERATING Please click here for supplemental information on non-IFRS Accounting Stan
Slide 21: Capital Expenditures
21 Capital ($M) Expenditures (excluding right-of-use assets, disposal of assets and accounts payable variation) $148 M 21
Slide 22: Net Debt Reconciliation
Net Debt Reconciliation1 (in $M) +11% +$214 M Net debt ratio1 : 3.4x Net debt ratio1 : 4.2x (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 48 to 54 of our 2024 Annual Report, Management Discussion & Analysi
Slide 23: Consolidated Financials Ratios & Debt Maturities
Consolidated Financials Ratios & Debt Maturities NET DEBT / EBITDA (A)1,2,3 LONG-TERM DEBT MATURITIES (as of December 31, 2024, in $M) 287 67 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 48 to 54 of our 2
Slide 24: Containerboard Packaging 2024 Highlights
24 CONTAINERBOARD PACKAGING 2024 Highlights ($M) Stronger volumes +1% Favourable FX Selling prices under pressure +4% Continued inflationary pressure on costs 1 1 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pa
Slide 25: Specialty Products 2024 Highlights
25 SPECIALTY PRODUCTS 2024 Highlights ($M) Higher selling prices -2% Favourable FX Softer volumes +5% Continued inflationary pressure on raw materials 1 1 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 48 t
Slide 26: Tissue Papers 2024 Highlights
26 TISSUE PAPERS 2024 Highlights ($M) Lower selling prices and lower volumes offset by favorable sales +14% mix Benefits from significant -4% repositioning of operational platform Favourable raw materials prices 1 1 and operating costs (1) Please click here for supplemental information on Non-IFRS A
Slide 27: Financial Review
27 Financial Review Allan Hogg Vice-President and Chief Financial Officer 27
Slide 28: Q1 2025 Results
Q1 2025 Results 28
Slide 29: Q1 2025 Results
Q1 2025 Results (in millions of Canadian dollars, except per common share amounts) Q1 2025 Q4 2024 Q1 2024 Sales 1,154 1,211 1,109 Operating income 50 16 9 EBITDA (A)1 125 146 103 Net earnings (loss) 7 (13) (20) Adjusted net earnings (loss)1 13 25 — Net earnings (loss) per common share $0.07 ($0.13)
Slide 30: Raw Material Costs - Index List Prices
Raw Material Costs - Index List Prices Recycled Fibre Prices Virgin Pulp Prices ($US /s.t.) Current Current ($US/s.t.) (April-25) (May-25) 1,610 143 1,370 73 Recovered Paper Prices ($US/s.t.) Q1 2025 Q4 2024 Q1 2024 Q1/Q1 Q1/Q4 White grades - Basket of products (Northeast average) 130 124 147 (12%)
Slide 31: EBITDA (A) and Operating Income Variance Q1 2025
EBITDA (A)1 and Operating Income Variance Q1 2025 (in $M) +21% +$22 M 1 1 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 27 to 32 of our 2025 Quarterly Report 1, Management Discussion & Analysis, available
Slide 32: Net Debt Reconciliation Q1-2025
Net Debt Reconciliation1 Q1-2025 (in $M) +6% +$120 M Net debt ratio1: 4.2x Net debt ratio1 : 4.2x (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 27 to 32 of our 2025 Quarterly Report 1, Management Discussio
Slide 33: Outlook
Outlook Hugues Simon President and Chief Executive Officer 33
Slide 34: Strategic Priority Areas: 2025 - 2026
STRATEGIC PRIORITY AREAS: 2025 - 2026 STRENGTHEN OUR CULTURE OF EXCELLENCE TO DRIVE PROFITABILITY 1 • Productivity led margin improvements: the right product for the right customer on the right equipment to drive productivity and profitability levels • Optimized logistics and cost structure, support
Slide 35: Recognitions in Sustainability
Recognitions in Sustainability 35
Slide 36: Question Period
36 15 Question Period 36
Slide 37: Martin P. Pelletier 1942-2025
Martin P. Pelletier 1942-2025
Slide 38: Adjournment of the Meeting
38 16 Adjournment of the Meeting 38
Slide 39: Investors and Media Contacts
39 INVESTORS MEDIA Jennifer Aitken Hugo D'Amours Director, Investor Relations Vice-president, Communications, Public Affairs and Sustainable Development (514) 282-2697 (418) 573-2348 investor@cascades.com hugo_damours@cascades.com 39
Slide 40: Thank you
2025 Annual General Meeting of Shareholders Thank you 40
Slide 41: Cascades
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