Wajax Corporation · TSX:WJX
Wajax — Q4 2025 Earnings Presentation
18 slides from Wajax's earnings presentation, Mar 4, 2026
Slide 1: Wajax Corporation Financial Results Q4 2025
WAJAX CORPORATION FINANCIAL RESULTS Q4 2025 March 3, 2026 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 More than 167 years of operating history 105 branches coast-to-coast A broad range of industrial products and services Diverse market and sector experience REVENUE SOURCES Q4 2025 REVENUE SOURCES FY 2025 ($ millions) ($ millions) Industrial Parts Industrial Parts
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: 2026 Strategic Priorities
2026 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. Invest in operational efficiency, process optimization and technology enablemen
Slide 7: Highlights – Fourth Quarter
HIGHLIGHTS – FOURTH QUARTER Wajax delivered steady performance in the fourth quarter of 2025, highlighted by gross profit margin growth, higher earnings and improved leverage -1.0% 100 bps GROSS 25% 104% -1% REVENUE ADJUSTED ADJUSTED YTD TRIF3 PROFIT $560.0 EBITDA1 BASIC EPS1 MARGIN1 million $44.0 $
Slide 8: Revenue by Region
REVENUE BY REGION Fourth quarter growth in eastern Canada ERS, construction and forestry and power systems sales were offset by sales declines in western and central Canada Q4 2025 ($ millions) FY 2025 ($ millions) (4)% 2% 6% 0% (5)% 4% Note: Totals may not add due to rounding. Together We Get More
Slide 9: Heavy Equipment and Product Support Revenue
HEAVY EQUIPMENT AND PRODUCT SUPPORT REVENUE Equipment YoY Change 31.5% 74.2% (2.1)% (0.3)% (1.2)% • Increase from Q3 2025 was due primarily to higher sales in all regions, led by higher mining sales in western Canada and higher construction and forestry sales in western and eastern Canada. • Decreas
Slide 10: Industrial Parts and ERS Revenue
INDUSTRIAL PARTS AND ERS REVENUE Industrial Parts YoY Change (1.7)% (6.6)% (4.1)% —% (2.3)% • Decrease from Q3 2025 was due primarily to lower sales in eastern Canada. • Decrease from Q4 2024 was due primarily to lower sales in central Canada. ERS YoY Change (23.7)% (3.2)% (1.1)% 3.5% 11.1% • Increa
Slide 11: Revenue by Category
REVENUE BY CATEGORY Strong ERS, mining and power systems revenue offset by lower construction and forestry and material handling sales in the fourth quarter FY* CATEGORY4 Q4 2025 Q4 2024 CHANGE FY 2025 FY 2024 CHANGE W C E HEAVY EQUIPMENT $ 341.7 $ 353.4 $ (11.8) $ 1,258.3 $ 1,199.1 $ 59.2 ↑ — ↑ Con
Slide 12: Backlog and Inventory
Backlog 2 1 BACKLOG1 1. Backlog increased by $10.1 million (2.0%) from Q3 2025 to $516.6 million 2. Backlog decreased by $47.8 million (-8.5%) compared to Q4 2024 Inventory 2 1 INVENTORY 1. Total inventory of $547.6 million decreased $58.2 million compared to Q3 2025 2. Total inventory decreased $12
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 2.61x 2.53x 2.35x 2.28x 1.62x Working capital efficiency has improved slightly from Q3 2025 due to lower trailing four quarter average working capital, l
Slide 14: Outlook
OUTLOOK • Looking ahead, Wajax continues to see strong customer demand in the mining and energy sectors, with mining demand reflected in a backlog of two large mining shovels for delivery over the next five quarters. • Market conditions in other sectors remain mixed across regions with continued mac
Slide 15: Message from Iggy Domagalski
MESSAGE FROM IGGY DOMAGALSKI • As I reflect on 17 years with this organization, I am encouraged by what our teams have accomplished. • We have expanded and diversified the business through a mix of acquisitions and organic growth, built a culture that helps our people succeed personally and professi
Slide 16: Appendix
APPENDIX 1 Together We Get More Done.
Slide 17: 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 and twelve months ended December 31, 2025 under the heading “Non-GAAP and Other Financial Measures”, which is available on SEDAR+ at www.sedarplus.c
Slide 18: wajax.com
wajax.com Together We Get More Done.