Wajax Corporation · TSX:WJX
Wajax — Q1 2025 Earnings Presentation
17 slides from Wajax's earnings presentation, May 6, 2025
Slide 1: Wajax Corporation Financial Results Q1 2025
WAJAX CORPORATION FINANCIAL RESULTS Q1 2025 May 6, 2025 1 Together We Get More Done.
Slide 2: Cautionary Statement Regarding Forward-Looking Information
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This presentation contains certain forward-looking statements and forward-looking information, as defined in applicable securities laws (collectively, “forward-looking statements”). These forward-looking statements relate to future events or
Slide 3: Non-GAAP and Other Financial Measures
NON-GAAP AND OTHER FINANCIAL MEASURES This presentation contains certain non-GAAP and other financial measures that do not have a standardized meaning prescribed by generally accepted accounting principles ("GAAP"). Therefore, these financial measures may not be comparable to similar measures presen
Slide 4: Wajax At-A-Glance
WAJAX AT-A-GLANCE NATIONAL FOOTPRINT 167-year operating history 111 branches coast-to-coast A broad range of industrial products and services Diverse market and sector experience REVENUE SOURCES Q1 2025 ($ millions) $555.0M IN REVENUE IN Q1 2025 Industrial Parts and Engineered $11.4 Repair Services
Slide 5: Purpose and Values
PURPOSE AND VALUES Empowering People to Build a Better Tomorrow We commit to safety and well-being; We develop potential and expertise; We deliver an exceptional experience together; We build lasting relationships; and We strive to continuously improve. Together We Get More Done. 5 Wajax Financial R
Slide 6: 2025 Strategic Priorities
2025 STRATEGIC PRIORITIES Continue to build a people-first company. Grow our existing business with a focus on parts, service, and margin improvement. Unlock the potential of our enhanced direct relationship with Hitachi. Acquire and integrate Industrial Parts and ERS businesses. Improve our cost st
Slide 7: Highlights – First Quarter
HIGHLIGHTS – FIRST QUARTER Higher revenues and improved cost efficiency were offset partially by lower gross profit margins -290 bps 6% 16% 15.1% GROSS ADJUSTED ADJUSTED 141% REVENUE YTD TRIF3 PROFIT EBITDA1 BASIC EPS1 $555.0 MARGIN1 million 19.1% $43.2 $0.69 1.30 • Higher equipment million per shar
Slide 8: Revenue by Region
REVENUE BY REGION Strong growth in all regions Revenue by Region ($ millions) 10% 11% 20% Note: Totals may not add due to rounding. Together We Get More Done. 8 Wajax Financial Results - Q1 2025 (May 6, 2025)
Slide 9: Heavy Equipment and Product Support Revenue
HEAVY EQUIPMENT AND PRODUCT SUPPORT REVENUE Equipment YoY Change (25.8)% (5.2)% 4.5% 31.5% 74.2% • Decrease from Q4 2024 was due primarily to lower mining sales in western Canada and lower material handling sales in eastern Canada. • Increase from Q1 2024 was due primarily to higher construction and
Slide 10: Industrial Parts and ERS Revenue
INDUSTRIAL PARTS AND ERS REVENUE Industrial Parts YoY Change 1.0% (5.0)% (15.3)% (1.7)% (6.6)% • Increase from Q4 2024 was due primarily to higher sales in western and eastern Canada. • Decrease from Q1 2024 was due primarily to lower sales in western and eastern Canada. ERS YoY Change (0.9)% (4.4)%
Slide 11: Revenue by Category
REVENUE BY CATEGORY Revenue increase driven primarily by higher construction and forestry equipment sales in all regions and higher mining equipment sales in western Canada YTD* CATEGORY4 Q1 2025 Q1 2024 CHANGE W C E HEAVY EQUIPMENT $ 328.7 $ 243.2 $ 85.5 ↑ ↑ ↑ Construction and Forestry 138.2 92.5 4
Slide 12: Backlog and Inventory
Backlog 2 1 BACKLOG1 1. Backlog decreased by $3.2 million (-0.6%) from Q4 2024 to $561.3 million 2. Backlog decreased by $25.8 million (-4.4%) compared to Q1 2024 Inventory 2 1 INVENTORY 1. Total inventory of $658.1 million decreased $15.2 million compared to Q4 2024 2. Total inventory decreased $91
Slide 13: Cash Flow, Leverage and Balance Sheet
CASH FLOW, LEVERAGE1 AND BALANCE SHEET Cash Flow from Operating Activities Working Capital Efficiency1 Leverage1 Total committed credit facilities 2.78x 2.61x 2.53x 2.20x 2.17x Working capital efficiency has improved from Q4 2024 due to higher trailing 12-month revenue Inventory turns have improved
Slide 14: Outlook
OUTLOOK • Looking ahead to the balance of 2025, Wajax continues to see strong customer demand in the mining and energy sectors, with the former supported by robust backlog • Headwinds are expected to persist, with broader market conditions remaining soft and continued uncertainty surrounding tariffs
Slide 15: Appendix
APPENDIX 1 Together We Get More Done.
Slide 16: Endnotes
ENDNOTES 1. This measure does not have a standardized meaning prescribed by GAAP. Please see Wajax’s Management’s Discussion and Analysis for the three months ended March 31, 2025 under the heading “Non-GAAP and Other Financial Measures”, which is available on SEDAR+ at www.sedarplus.ca, for definit
Slide 17: wajax.com
wajax.com Together We Get More Done.