Ag Growth International Inc. · TSX:AFN
Ag Growth International — Q3 2025 Earnings Presentation
29 slides from Ag Growth International's earnings presentation, 2025
Slide 1: Q3 2025 Earnings Call
EARNINGS CA PAUL / HOUSEHOLDER RUDYK L
Slide 2: CEO Commentary
AGI= CEO COMMENTARY
Slide 3: Topics for Today's Review
TOPICS FOR TODAY’S REVIEW STRATEGY & TARIFF OUTLOOK SAFETY MARKET UPDATE UPDATE 3
Slide 4: Safety Is a Top Priority
SAFETY IS A TOP PRIORITY
Slide 5: Q3 2025 Results
Q3 2025 RESULTS CAD, millions REVENUE ADJUSTED EBITDA ADJ. EBITDA MARGIN $389 $357 19.2% 18.2% $69 $71 Q3/24 Q3/25 Q3/24 Q3/25 Q3/24 Q3/25 Adjusted EBITDA is a non-IFRS measure. Adjusted EBITDA Margin % is non-IFRS ratio. See "Non-IFRS and Other Financial Measures". Source: Company reports 5
Slide 6: Corporate Strategic Priorities
CORPORATE STRATEGIC PRIORITIES PROFITABLE OPERATIONAL BALANCE ORGANIC EXCELLENCE SHEET GROWTH DISCIPLINE KPI KPI KPI Revenue & Adjusted Margin Expansion Net Debt Leverage Ratio EBITDA Growth Free Cash Flow 6
Slide 7: Profitable Organic Growth
PROFITABLE ORGANIC GROWTH Product Transfers • Key driver to success in Brazil • Several key products now transferred to India PROFITABLE Emerging Markets ORGANIC GROWTH • Major project wins in Middle East and elsewhere • Business development resources & focus working Growth Platforms • Processing –
Slide 8: Operational Excellence
OPERATIONAL EXCELLENCE Facility Consolidations • Finalized two facility consolidations in North America • Streamline operations, remove costs – an additional facility divested in Q4 OPERATIONAL EXCELLENCE Manufacturing Optimization • New processes, rationalized products, coordinated logistics • Imme
Slide 9: Balance Sheet Discipline
BALANCE SHEET DISCIPLINE Facility-Level Focus • Deployment of upgraded and consistent processes and tools to each of our facilities to optimize working capital BALANCE Financing Receivable Monetization SHEET DISCIPLINE • Commercial investment fund setup in Brazil • 1st receivable monetized early Q4;
Slide 10: Tariffs
TARIFFS • New regulations and higher tariff rates introduced in the third quarter • Mitigants: supplier and supply chain network redesign and optimization • Minimal disruption to operations and margins • Continue to closely monitor the situation for new developments 10
Slide 11: Outlook
OUTLOOK • Expectations for Q4 2025 are for lower Adjusted EBITDA sequentially and versus prior year largely from challenging market conditions, negative mix, and notably higher SG&A costs compared to prior year. • Commercial segment order book provides visibility across the first half of 2026. Focus
Slide 12: CFO Commentary
AGI= CFO COMMENTARY
Slide 13: Topics for Today's Review
TOPICS FOR TODAY’S REVIEW THIRD BALANCE CAPITAL QUARTER CASH FLOW SHEET ALLOCATION RESULTS 13
Slide 14: Q3 2025 Commercial Results
Q3 2025 COMMERCIAL RESULTS CAD, millions REVENUE ADJUSTED EBITDA ADJ. EBITDA MARGIN $256 19.5% $50 17.9% $173 $31 Q3/24 Q3/25 Q3/24 Q3/25 Q3/24 Q3/25 Adjusted EBITDA is a non-IFRS measure. Adjusted EBITDA Margin % is non-IFRS ratio. See "Non-IFRS and Other Financial Measures". Revenue by segment is
Slide 15: Commercial Segment Commentary
COMMERCIAL SEGMENT COMMENTARY • Growth driven by execution of large-scale projects across multiple international markets • Exceptional demand in Brazil for integrated solutions, supported by product transfer programs, technical partnerships, tailored financing • Major projects in Middle East and Afr
Slide 16: Q3 2025 Farm Results
Q3 2025 FARM RESULTS CAD, millions REVENUE ADJUSTED EBITDA ADJ. EBITDA MARGIN $185 24.6% $134 20.5% $45 $28 Q3/24 Q3/25 Q3/24 Q3/25 Q3/24 Q3/25 Adjusted EBITDA is a non-IFRS measure. Adjusted EBITDA Margin % is non-IFRS ratio. See "Non-IFRS and Other Financial Measures". Revenue by segment is a supp
Slide 17: Farm Segment Commentary
FARM SEGMENT COMMENTARY • Varied regional performance • Lower volumes & unfavorable product mix compressed margins • Market uncertainty persists; continued cost control and recovery preparation underway 17
Slide 18: Balance Sheet Discipline
BALANCE SHEET DISCIPLINE • Net debt leverage ratio driven Net Debt Leverage Ratio by temporary increase in working capital requirements 7.0x for Commercial segment 6.0x 5.0x • Monetizing receivables 4.0x 3.9x expected to reduce working 3.0x capital and improve balance 2.0x sheet metrics 1.0x – Q4/20
Slide 19: Free Cash Flow Focus
FREE CASH FLOW FOCUS $111 $111 • Across 2025, Free Cash Flow will $88 be leveraged to support growth $73 $79 opportunities in Commercial $65 $50 $49 $50 $41 • Strategic temporary investment in $34 $36 working capital to support large- $8 $9 $4 scale projects, notably in Brazil $0.3 ($12) ($2) ($6) (
Slide 20: Near-Term Capital Allocation Priorities
NEAR-TERM CAPITAL ALLOCATION PRIORITIES • Operational improvements (ERP implementation) • Working capital investment to support Commercial growth • Temporary working capital High investment step-up for Priority • Routine capital investments (maintenance capex & intangibles) strategic Commercial grow
Slide 21: Questions
PAUL VI HOUSEHOLDER RUDYK
Slide 22: Forward-Looking Information (1/3)
FORWARD-LOOKING INFORMATION (1/3) This webcast presentation contains forward-looking statements and information (collectively, "forward-looking information") within the meaning of applicable securities laws that reflect our expectations regarding the future growth, results of operations, performance
Slide 23: Forward-Looking Information (2/3)
FORWARD-LOOKING INFORMATION (2/3) Forward-looking information involves significant risks and uncertainties. A number of factors could cause actual results to differ materially from results discussed in the forward-looking information, including: the risk that (i) the tariffs that are currently in ef
Slide 24: Forward-Looking Information (3/3)
FORWARD-LOOKING INFORMATION (3/3) These and other risks and uncertainties are described under "Risks and Uncertainties" in our most recently filed interim and annual MD&A and in our most recently filed Annual Information Form, all of which are available under the Company's profile on SEDAR+ [www.sed
Slide 25: Presentation of Financial Information
PRESENTATION OF FINANCIAL INFORMATION PRESENTATION OF FINANCIAL INFORMATION All financial information of AGI included in this presentation is reported in Canadian dollars and (except for forward-looking financial information) has been derived from audited and unaudited historical financial statement
Slide 26: Presentation of Financial Information
PRESENTATION OF FINANCIAL INFORMATION Adjusted EBITDA (adjusted earnings before interest, taxes, depreciation, and amortization) is a non-IFRS financial measure and its most directly comparable financial measure that is disclosed in our consolidated financial statements is profit (loss) before incom
Slide 27: Presentation of Financial Information
PRESENTATION OF FINANCIAL INFORMATION Adjusted EBITDA – Farm Segment - The following table reconciles profit (loss) before income Adjusted EBITDA – Commercial Segment - The following table reconciles profit (loss) before taxes to Adjusted EBITDA for the Farm segment for each of the periods presented
Slide 28: Presentation of Financial Information
PRESENTATION OF FINANCIAL INFORMATION Adjusted EBITDA Margin % is a non-IFRS ratio and is defined as Adjusted EBITDA divided by revenue. Adjusted EBITDA margin % is a non-IFRS ratio because one of its components, Adjusted EBITDA, is a non- IFRS financial measure. Management believes Adjusted EBITDA
Slide 29: Presentation of Financial Information
PRESENTATION OF FINANCIAL INFORMATION Order book is a supplementary financial measure and is defined as the total value of committed sales orders that have not yet been fulfilled that: (a) have a high certainty of being performed as a result of the existence of a purchase order, an executed contract
Ag Growth International — Q3 2025 Earnings Presentation on 6ix