Atkinsrealis Group Inc. · TSX:ATRL
Atkinsrealis — Q2 2025 Earnings Presentation
25 slides from Atkinsrealis's earnings presentation, Aug 7, 2025
Slide 1: Q2 Conference Call Presentation
Q2 CONFERENCE CALL PRESENTATION August 7, 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: Second Quarter Highlights
3 Second Quarter ▪ Significant organic revenue growth Highlights ▪ AtkinsRéalis Services revenue increased 15%1,2 (9% on an organic revenue growth3 basis) ▪ Strong increase in Adjusted EBITDA from PS&PM and Adjusted EPS from PS&PM ▪ Record-high total backlog ▪ Engineering Services Regions and Nuclea
Slide 4: Delivering on our Capital Allocation Framework
4 Delivering on our Capital Allocation Framework Deliberate actions taken to improve balance sheet, return capital to shareholders and invest for growth Maintain Strong Balance Sheet ✓ Repaid a significant amount of debt and improved net debt leverage ratio to achieve investment grade Going Forward
Slide 5: AtkinsRéalis Services Backlog
5 AtkinsRéalis Services Backlog1 in $M Selected Q2 Bookings ▪ Execution contract for the first of four planned small modular reactor (SMR) units at the 20,767 20,184 Darlington New Nuclear Project in Canada +33.0% ▪ Delivery Partner for technical and project management for Phase 1 of the Calgary Gre
Slide 6: Engineering Services Regions
6 Engineering Services Regions Revenue1 ($M) Backlog1 ($M) Net Revenue1 Organic revenue contraction2 +6% -1%2 +6% 1,747 1,858 12,214 13,000 1,245 1,334 Q2 2024 Q2 2025 30-Jun-24 30-Jun-25 Segment Adjusted EBITDA3 ($M) 15.7% and Segment Adjusted EBITDA to Segment 15.2% 209 Net Revenue (%)2 190 Segmen
Slide 7: Canada
7 Canada Revenue ($M) Net Revenue Backlog ($M) Organic revenue Q2 Key Highlights and Wins contraction1 -2% Continued backlog growth in Power & Renewables and Transportation -1%1 +5% 372 366 markets Revenue decrease mainly driven by a major project contract that ended in Q2 2024 7,603 7,966 Margin im
Slide 8: UKI
8 UKI Revenue ($M) Net Revenue Backlog ($M) Organic revenue Q2 Key Highlights and Wins growth1 +11% +5%1 +13% Strong demand in Water following the commencement of the new funding cycle 670 AMP8, in Transportation driven by capital programs in Aviation and Rail 603 Signaling, and in Defence end marke
Slide 9: USLA
9 USLA Revenue ($M) Net Revenue Backlog ($M) Organic revenue Q2 Key Highlights and Wins contraction1 +18% -3%1 +17% US business growth supported by Transportation, Infrastructure and Industrial 512 markets, offset by lower volume in Minerals & Metals market outside of the US 436 Advancement of U.S.
Slide 10: AMEA
10 AMEA Revenue ($M) Net Revenue Backlog ($M) Organic revenue Q2 Key Highlights and Wins contraction1 -8% Revenue and backlog decreased, mainly driven by a large project reaching -9%1 -4% 336 completion of phase 1 at the end of 2024 and lower volume on major Buildings & 309 Places projects in the Mi
Slide 11: Nuclear
11 Nuclear Revenue ($M) Backlog ($M) Net Revenue Organic revenue growth1 +59% +56%1 +223% 567 358 5,648 224 272 1,748 Q2 2024 Q2 2025 30-Jun-24 30-Jun-25 Segment Adjusted EBIT ($M) Segment Adjusted EBITDA2 ($M) (% of Segment Revenue) and Segment Adjusted EBITDA to Segment Net Revenue (%)1 +47% +42%
Slide 12: Nuclear Q2 Key Highlights and Wins
12 Nuclear Q2 Key Highlights and Wins CANDU® Services Canadians for CANDU campaign continues to gain support Awarded $450M execution contract by OPG2, for the first of four planned 300- megawatt BWRX-300 SMR units at the Darlington New Nuclear Project Expanded strategic partnership between AtkinsRéa
Slide 13: CANDU Delivers Revenue Today and into the Future
13 CANDU® Delivers Revenue Today and into the Future Strong Present Total $0.9B $1.9B $3.2B $5.6B Nuclear Dec. 31 Dec. 31 Dec.31 June 30 Bright Future Backlog 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Darlington 1 to 4 Life Extension Bruce 3 to 8 Projects Canada Pickering 5 to 8 Ph
Slide 14: Linxon, LSTK Projects & Capital
14 Linxon, LSTK Projects & Capital Linxon LSTK Projects Capital Revenue ($M) +16% Organic revenue +11%1 Segment Segment growth1 Adjusted EBIT ($M) Adjusted EBIT ($M) 216 187 22 19 Q2 2024 Q2 2025 Segment Adjusted EBIT ($M) 5.2% -18 -19 Q2 2024 Q2 2025 (% of Segment Revenue) Q2 2024 Q2 2025 11 1.6% 3
Slide 15: Financial Performance
15 FINANCIAL PERFORMANCE
Slide 16: Q2 Selected Financial Metrics
16 Q2 Selected Financial Metrics in $M, except otherwise indicated Q2 2025 Q2 2024 Change Revenues PS&PM 2,692 2,336 15% Capital 23 28 (18)% Total Revenues 2,715 2,364 15% Segment Adjusted EBIT – Total 246 208 18% Corporate SG&A expenses – from PS&PM (30) (39) (23)% Restructuring and transformation
Slide 17: Free Cash Flow
17 Free Cash Flow1 in $M Six months Six months Q2 2025 ended June Q2 2024 ended June 30, 2025 30, 2024 Segment Adjusted EBIT2 from AtkinsRéalis Services 246 470 204 391 Segment Adjusted EBITDA1 from AtkinsRéalis Services 291 554 242 465 Change in working capital and other items from AtkinsRéalis Ser
Slide 18: Capital Allocation Status Update
18 Capital Allocation Status Update Maintain strong balance sheet ▪ Achieved investment grade As at June 30, 2025: ▪ Upgraded to BBB (low) by DBRS with positive trends • Cash and cash equivalents $953M ▪ Upgraded to BBB- by S&P with stable outlook ▪ Sale of remaining interest in Highway 407 ETR • To
Slide 19: Revised Outlook 2025
19 Revised Outlook 2025 Growth Pillars Other Metrics Corporate Selling, General and Amortization of Intangible Mid-Single 16% – 17% Administrative Expenses Assets Related to Business Combinations Digit % Segment $120M – $130M Engineering Previous: 7% – 9% Adjusted EBITDA to Segment Net Revenue From
Slide 20: Conclusion
20 CONCLUSION
Slide 21: Conclusion
21 Conclusion ▪ Strong second quarter results • Solid organic revenue growth for AtkinsRéalis Services • Record-high total backlog ▪ Continued strong demand for our Engineering Services and Nuclear capabilities v ▪ Strategic internal actions taken to strengthen our capital structure ▪ Distinctly pos
Slide 22: Questions & Answers
22 QUESTIONS & ANSWERS
Slide 23: Appendix
23 APPENDIX
Slide 24: Financial Targets 2025-2027
24 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 25: Endnotes
Endnotes 25 (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