Atkinsrealis Group Inc. · TSX:ATRL
Atkinsrealis — Q3 2025 Earnings Presentation
23 slides from Atkinsrealis's earnings presentation, Nov 13, 2025
Slide 1: Q3 Conference Call Presentation
Q3 CONFERENCE CALL PRESENTATION November 13, 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. Sta
Slide 3: Third Quarter Highlights
3 AtkinsRéalis Services Quarterly Revenues2 Third Quarter in $M Highlights 17% 2,760 2,641 2,475 2,499 2,350 ▪ Significant organic revenue growth ▪ AtkinsRéalis Services revenue increased 17%1,2 (11% on an organic revenue growth3 basis) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 ▪ Strong increase in Ad
Slide 4: Engineering Services Regions
4 Engineering Services Regions Revenue1 ($M) Backlog1 ($M) Net Revenue1 Organic revenue growth2 +8% +0%2 +8% 1,792 1,939 12,031 13,045 1,289 1,386 Q3 2024 Q3 2025 30-Sep-24 30-Sep-25 Segment Adjusted EBITDA3 ($M) 17.2% and Segment Adjusted EBITDA to Segment 16.9% 239 Net Revenue (%)2 218 Segment Adj
Slide 5: Canada
5 Canada Revenue ($M) Net Revenue Backlog ($M) Organic revenue growth1 Q3 Key Highlights +1% › Strong demand and continued backlog growth in Transportation and Power +1%1 +5% 348 352 & Renewables end-markets; seeing challenges in Industrial › Continue to execute on our margin improvement initiative
Slide 6: UKI
6 UKI Revenue ($M) Net Revenue Backlog ($M) Organic revenue growth1 Q3 Key Highlights +10% › Strong demand for our services in Transportation (i.e. Aviation) coupled +5%1 +15% 714 with increasing demand in the Water and growing pipeline in secure 650 government services in Defence › Strong backlog d
Slide 7: USLA
7 USLA Revenue ($M) Net Revenue Backlog ($M) Organic revenue growth1 Q3 Key Highlights +26% › U.S. growth recovering, supported by Transportation and Infrastructure +0%1 +11% 540 markets, especially in the Southeast and our expanding Northeast business, offset by lower volume in Minerals & Metals ma
Slide 8: AMEA
8 AMEA Revenue ($M) Net Revenue Backlog ($M) Organic revenue contraction1 Q3 Key Highlights -9% › Revenue decreased, mainly driven by lower volumes on major Middle East -9%1 +15% 364 Buildings & Places projects that are nearing completion, including a large 333 project reaching completion of phase 1
Slide 9: Nuclear
9 Nuclear Revenue ($M) Backlog ($M) Net Revenue Organic revenue growth1 +62% +60%1 +68% 596 369 5,425 272 3,221 218 Q3 2024 Q3 2025 30-Sep-24 30-Sep-25 Segment Adjusted EBIT ($M) Segment Adjusted EBITDA2 ($M) (% of Segment Revenue) and Segment Adjusted EBITDA to Segment Net Revenue (%)1 +44% +40% 66
Slide 10: Nuclear Q3 Key Highlights
10 Nuclear Q3 Key Highlights CANDU® › Bruce Power renewed its 10-year Master Services Agreement with AtkinsRéalis, enabling up to $1B in additional work through 2035 › Issued $2B in purchase orders to over 548 companies in the CANDU® supply chain over the past 18 months—90% to Canadian suppliers, wi
Slide 11: CANDU® Delivers Revenue Today and into the Future
11 CANDU® Delivers Revenue Today and into the Future Strong Present Total $0.9B $1.9B $3.2B $5.4B Nuclear Dec. 31 Dec. 31 Dec.31 Sept. 30 Bright Future Backlog 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Darlington 1 to 4 Life Extension Bruce 3 to 8 Projects Canada Pickering 5 to 8 P
Slide 12: Linxon, LSTK Projects & Capital
12 Linxon, LSTK Projects & Capital Linxon Revenue ($M) Segment Organic revenue Adjusted EBIT ($M) growth1 (% of Segment Revenue) +19% 5.7% +15%1 3.4% 225 13 189 6 Q3 2024 Q3 2025 Q3 2024 Q3 2025 › Backlog increased 50% to a record $2.4B since the end of Q3 2024 › Operational performance significantl
Slide 13: Financial Performance
13 FINANCIAL PERFORMANCE
Slide 14: Q3 Selected Financial Metrics
14 Q3 Selected Financial Metrics in $M, except otherwise indicated Q3 2025 Q3 2024 Change Revenues PS&PM 2,794 2,424 15% Capital 14 28 (50)% Total Revenues 2,808 2,452 15% Segment Adjusted EBIT – Total 269 246 9% Corporate SG&A expenses – from PS&PM (26) (27) (4)% Net financial expenses (22) (41) (4
Slide 15: Free Cash Flow
15 Free Cash Flow1 in $M Nine months Nine months Q3 2025 ended Sept. Q3 2024 ended Sept. 30, 2025 30, 2024 Segment Adjusted EBIT2 from AtkinsRéalis Services 279 749 239 629 Segment Adjusted EBITDA1 from AtkinsRéalis Services 324 877 276 741 Change in working capital and other items from AtkinsRéalis
Slide 16: Revised Outlook 2025
16 Revised Outlook 2025 Growth Pillars Other Metrics Corporate Selling, General and Amortization of Intangible Low-Single 16% – 17% Administrative Expenses Assets Related to Business Combinations Digit % Segment $120M – $130M Engineering Previous: Mid-Single Digit % Adjusted EBITDA to Segment Net Re
Slide 17: Conclusion
17 CONCLUSION
Slide 18: Conclusion
18 18 Conclusion ▪ Strong third quarter results • Solid organic revenue growth • Improved margins • Record-high total backlog ▪ The combination of our Engineering Services and Nuclear businesses provides us with a unique competitive mix ▪ Energy transition and infrastructure redevelopment are fuelin
Slide 19: Questions & Answers
19 QUESTIONS & ANSWERS
Slide 20: Appendix
20 APPENDIX
Slide 21: Financial Targets 2025-2027
21 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 22: Endnotes
Endnotes 22 (See also the cautionary statement regarding non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information at slide 2 of this presentation.) 1. Organic revenue growth (contraction) ratio is a non-IFRS ratio comparing or
Slide 23: Contact us
Contact us Denis Jasmin CPA, F.CIRI Vice-President, Investor Relations +1 514 393 8000 ext. 57553 Send Investor Relations an email: Book an introduction call with Investor Relations: www.atkinsrealis.com/investors