Ats Corporation · TSX:ATS
Ats — Q4 2025 Earnings Presentation
15 slides from Ats's earnings presentation, May 28, 2025
Slide 1: Q4 2025 Earnings Call
Q4 2025 Earnings Call May 28, 2025 6:00pm ET
Slide 2: Today's Hosts
Today's Hosts Andrew Hider Ryan McLeod Chief Executive Officer Chief Financial Officer
Slide 3: Forward Looking Statements
Forward Looking Statements Note to Reader: This presentation and the oral statements made during this call contain certain statements that may constitute forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities laws ("forward-l
Slide 4: Non-IFRS and Other Financial Measures
Non-IFRS and Other Financial Measures Throughout this presentation management uses certain non-IFRS financial measures, non-IFRS ratios and supplementary financial measures to evaluate the performance of the Company. The terms “EBITDA”, "adjusted revenues", “organic revenue”, “adjusted net income”,
Slide 5: Q4 2025 & Recent Highlights
Q4 2025 & Recent Highlights Strong Quarter for Order Bookings1 ▪ Q4 Order Bookings¹ up ~ 9% y/y to $863M; diversified across all strategic market verticals ▪ Q4 Adjusted revenues1 were $721.1M, down ~9% y/y on expected lower EV revenues ▪ Q4 Adj. Earnings from Operations¹ of $74.3M, 10.3% adjusted e
Slide 6: Outlook
Outlook Order Backlog1 provides good revenue visibility: • Life Sciences $1,199M: ◦ Funnel remains strong; supported by market growth across key submarkets • Food and Beverage $258M: ◦ Funnel remains strong; ended F25 with record backlog; continue to identify synergies with Paxiom • Energy $186M: ◦
Slide 7: Financial Results
Financial Results Y/Y Y/Y Y/Y Y/Y (C$ M, except per share Q4 Q4 Change Change F2025 F2024 Change Change data) F2025 F2024 ($) (%) ($) (%) Revenues $574.2 $791.5 $(217.3) (27.5)% $2,533.3 $3,032.9 $(499.6) (16.5)% Adjusted Revenue Growth: Adjusted revenues1 721.1 791.5 $(70.4) (8.9)% 2,680.2 3,032.9
Slide 8: Summary
Summary ▪ Strong, diversified Order Backlog1 provides good revenue visibility ▪ F25 Order Bookings1 of $3.3 billion, a record for ATS ▪ Estimated Q1-F26 Order Backlog-to-revenue conversion2 of $680 million to $730 million ▪ Long-term outlook in strategic end-markets remains positive; short-term marg
Slide 9: ATS
ATS
Slide 10: WATS
WATS
Slide 11: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix Reconciliation of Non-IFRS Measures to IFRS Measures 11
Slide 12: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures The following table reconciles adjusted EBITDA and EBITDA to the most directly The following table reconciles organic revenue to adjusted revenues, which have comparable IFRS measure (net income (loss)) (in millions of dollars): been rec
Slide 13: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures The following table reconciles adjusted earnings from operations to the most The following table reconciles adjusted basic earnings per share to the most directly comparable IFRS measures (net income (loss)) (in millions of dollars): dir
Slide 14: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures The following table reconciles net debt to adjusted EBITDA to the most directly The following table reconciles free cash flow to the most directly comparable comparable IFRS measure (in millions of dollars): IFRS measure (in millions of
Slide 15: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures The following table reconciles the previously reported non-IFRS financial measures to reflect the exclusion of the stock-based compensation revaluation expenses: (C$ M) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 F2024 F2024 F2024 F2024 F2025 F2025 F2025 F2
ATS Corporation Common Shares — Q4 2025 Earnings Presentation on 6ix