Atkinsrealis Group Inc. · TSX:ATRL
Atkinsrealis — Q1 2025 Earnings Presentation
23 slides from Atkinsrealis's earnings presentation, May 15, 2025
Slide 1: Q1 Conference Call Presentation
Q1 CONFERENCE CALL PRESENTATION May 15, 2025
Slide 2: Forward-Looking Statements, Forward-Looking Financial Information and Outlook
Forward-Looking Statements, Forward-Looking Financial Information and Outlook 2 References in this presentation to the “Company”, “AtkinsRéalis”, “we”, us” and “our” mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Stat
Slide 3: First Quarter Highlights
3 First Quarter ▪ Significant organic revenue growth Highlights ▪ AtkinsRéalis Services revenue increased 15%1,2 (10% on an organic revenue growth3 basis) ▪ Strong increase in Adjusted EBITDA from PS&PM and EPS ▪ Record-high backlog ▪ Engineering Services Regions, Nuclear and Linxon all reached new
Slide 4: AtkinsRéalis Services Backlog
4 AtkinsRéalis Services Backlog1 in $M Selected Q1 Bookings ▪ Life extension contract of four CANDU® reactors at the Pickering Nuclear Generating 20,184 Station in Ontario +32.2% ▪ Life extension contract of CANDU® Unit 1 at the Cernavoda Nuclear Power Plant in Romania 17,198 ▪ Project alliance agre
Slide 5: Engineering Services Regions
5 Engineering Services Regions Revenue1 ($M) Backlog1 ($M) Net Revenue1 Organic revenue contraction2 (4)% +6% 1,719 1,737 11,969 12,716 1,176 1,242 Q1 2024 Q1 2025 31-Mar-24 31-Mar-25 Segment Adjusted EBITDA3 ($M) 15.0% 14.8% and Segment Adjusted EBITDA to 177 184 Segment Net Revenue (%)2 Segment Ad
Slide 6: Canada
6 Canada Revenue ($M) Net Revenue Backlog ($M) Organic revenue Q1 Key Highlights and Wins (14)% contraction1 Continued backlog growth in Transportation, particularly the rail sector, and +9% 371 Power & Renewables markets 326 Revenue decrease driven by a major project contract that ended in Q2 2024,
Slide 7: UKI
7 UKI Revenue ($M) Net Revenue Backlog ($M) Organic revenue +3% Q1 Key Highlights and Wins growth1 Defence and Power & Renewables end markets remain robust and offer strong +9% 661 growth dynamics 607 Entering the new funding cycle in the Water market (AMP8); well-positioned to build on our current
Slide 8: USLA
8 USLA Revenue ($M) Net Revenue Backlog ($M) Organic revenue (1)% Q1 Key Highlights and Wins contraction1 Strong US business growth, supported by the Transportation, Infrastructure +6% 416 432 and Industrial markets, partially offset by lower volume in the Minerals & Metals market outside the US US
Slide 9: AMEA
9 AMEA Revenue ($M) Net Revenue Backlog ($M) Organic revenue (9)% Q1 Key Highlights and Wins contraction1 Revenue and backlog decreased mainly driven by a large project reaching -12% 325 318 completion of phase 1 at the end of 2024 and lower volume in Middle East Segment Adjusted EBITDA margin decre
Slide 10: Nuclear
10 Nuclear Revenue ($M) Backlog ($M) Net Revenue Organic revenue +77% growth1 +185% 538 299 5,248 201 253 1,844 Q1 2024 Q1 2025 31-Mar-24 31-Mar-25 Segment Adjusted EBIT ($M) Segment Adjusted EBITDA2 ($M) (% of Segment Revenue) and Segment Adjusted EBITDA to Segment Net Revenue (%)1 +61% +56% 63 68
Slide 11: Nuclear Q1 Key Highlights and Wins
11 Nuclear Q1 Key Highlights and Wins CANDU® Services Canadians for CANDU® campaign continues to gain support New build support (Hinkley Point C, Sizewell C) and decommissioning services (Sellafield) continue to drive growth in UK region Reactor life extension of Cernavoda 1 (Romania) Phase 2 and of
Slide 12: CANDU® Delivers Revenue Today and into the Future
12 CANDU® Delivers Revenue Today and into the Future Strong Present Total $0.9B $1.9B $3.2B $5.2B Nuclear Dec. 31 Dec. 31 Dec.31 Mar.31 Bright Future Backlog 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Darlington 1 to 4 Life Extension Bruce 3 to 8 Projects Pickering 5 to 8 Phase 1 Ph
Slide 13: Linxon, LSTK Projects & Capital
13 Linxon, LSTK Projects & Capital Linxon LSTK Projects Capital Revenue ($M) +36% Organic revenue Segment Segment growth1 Adjusted EBIT ($M) Adjusted EBIT ($M) 224 10 159 Q1 2024 Q1 2025 1 Segment Adjusted EBIT ($M) -13 -15 4.6% Q1 2024 Q1 2025 (% of Segment Revenue) Q1 2024 Q1 2025 10 1.2% 2 Q1 202
Slide 14: Financial Performance
14 FINANCIAL PERFORMANCE
Slide 15: Q1 Selected Financial Metrics
15 Q1 Selected Financial Metrics in $M, except otherwise indicated Q1 2025 Q1 2024 Change Revenues PS&PM 2,532 2,258 12% Capital 14 7 100% Total Revenues 2,546 2,264 12% Segment Adjusted EBIT – Total 219 175 25% Corporate SG&A expenses – from PS&PM (38) (40) (5)% Restructuring and transformation cos
Slide 16: Free Cash Flow
16 Free Cash Flow1 in $M Q1 2025 Q1 2024 Segment Adjusted EBIT2 from AtkinsRéalis Services 224 187 Segment Adjusted EBITDA1 from AtkinsRéalis Services 263 223 Change in working capital and other items from AtkinsRéalis Services (35) 48 Net cash generated from operating activities – AtkinsRéalis Serv
Slide 17: Revised Outlook 2025
17 Revised Outlook 2025 Growth Pillars Other Metrics Corporate Selling, General and Amortization of Intangible 7% – 9% 16% – 17% Administrative Expenses Assets Related to Business Expected to be more Combinations weighted in the second Segment $120M – $130M half of 2025 Adjusted EBITDA to From PS&PM
Slide 18: Conclusion
18 CONCLUSION
Slide 19: Conclusion
19 Conclusion ▪ We had a strong start to the year ▪ General market conditions for Engineering Services and new Nuclear remain strong as the energy transition and infrastructure development needs remain at the forefront of public entities across the globe v ▪ Our focus is simple: Deliver Excellence,
Slide 20: Questions & Answers
20 QUESTIONS & ANSWERS
Slide 21: Appendix
21 APPENDIX
Slide 22: Financial Targets 2025-2027
22 Financial Targets 2025-20271 set in 2024, updated May 15, 20252 2025 – 2027 Target Engineering Services Regions3 Organic revenue growth4 CAGR 2025 – 2027 >8% Segment Adjusted EBITDA to segment net revenue ratio4 by 2027 Between 17% and 18% Nuclear Annual revenue by 2027 Between $2.2B to $2.5B Pre
Slide 23: Endnotes
Endnotes 23 (See also the cautionary statement regarding non-IFRS financial measures and ratios, supplementary financial measures, total of segment measures and non-financial information at slide 2 of this presentation.) 1. Organic revenue growth (contraction) ratio is a non-IFRS ratio comparing org