Foraco International SA (FAR) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the FHIRACO fourth quarter 2025 earnings conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you need assistance, please press star zero for the operator. This call is being recorded on Monday, March 2nd, 2026. I would now like to turn the conference over to Tim Bremner. Please go ahead. Thanks, Joanna, and good morning, everyone. Thank you for joining us today to discuss Farraqua's results for the fourth quarter and full year ending December 31st, 2025. Joining me on the call is Fabian Silvestre, our Chief Financial Officer, who will walk you through the financial results and key drivers. Before we begin, please note that our comments today may include forward-looking statements, which are subject to risk and uncertainties. Now, turning to the highlights. Q4 2025 revenue was $66 million, excluding adverse foreign exchange, compared to $61 million in Q4 2024, an 8% increase. EBITDA was essentially flat year-over-year at $10 million and was impacted by the commencement of new contracts in the quarter and the usual seasonal effects, which impaired the performance by about $3 million. On a full-year basis, revenue was $258 million compared to $250 93 million in 2024, with EBITDA margin of 18% in 2025, compared to 21% in 2024. While full year results reflect the market transition we experienced across parts of 2025, Q4 was most certainly the inflection point. We saw significant growth in virtually all regions as market demand surged, and that demand is now clearly visible in our commercial pipeline. As a result, Morocco is reporting a record order book of $404 million as of December 31, 2025, of which ...