ATS Reports Third Quarter Fiscal 2026 Results

About this update from Ats Corporation

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All references to \"$\" or \"dollars\" in this news release are to Canadian dollars unless otherwise indicated.\n \n \n \n Third quarter highlights:\n \n \n \n \n Revenues increased 16.7% year over year to $760.7 million.\n \n \n Net income was $30.0 million compared to $6.5 million a year ago.\n \n \n Basic earnings per share were 31 cents, compared to 7 cents a year ago.\n \n \n Adjusted EBITDA\n \n 1\n \n was $105.2 million compared to $87.5 million a year ago.\n \n \n Adjusted basic earnings per share\n \n 1\n \n were 48 cents compared to 32 cents a year ago.\n \n \n Order Bookings\n \n 2\n \n were $821 million, compared to $883 million a year ago.\n \n \n Order Backlog\n \n 2\n \n was $2,053 million, compared to $2,060 million a year ago.\n \n \n \n “Today, ATS reported third quarter results for fiscal 2026,” said Doug Wright, Chief Executive Officer. “Results reflected solid organic revenue growth across our diversified portfolio, including continued momentum in services. Order bookings in the quarter reflected activity in multiple end markets. Disciplined execution also supported continued progress on working capital and balance-sheet strength, with leverage ending the quarter at the top end of our target range.”\n \n \n \n Year-to-date highlights:\n \n \n \n \n Revenues were $2,225.8 million compared to $1,959.0 million a year ago.\n \n \n Net income was $87.9 million compared to $40.9 million a year ago.\n \n \n Basic earnings per share were $0.90, compared to $0.42 a year ago.\n \n \n Adjusted EBITDA\n \n 1\n \n was $310.5 million compared to $271.8 million a year ago.\n \n \n Adjusted basic earnings per share\n \n 1\n \n were $1.33 compared to $1.07 a year ago.\n \n \n Order Bookings\n \n 1\n \n were $2,248 million, compared to $2,442 million a year ago.\n \n \n \n Mr. Wright added: “Looking ahead, I’m encouraged by the strength of our portfolio, the depth of our leadership team, and the discipline embedded in the ATS Business Model. As I continue to deepen my understanding of the business, my focus is on translating learning into action, particularly around execution discipline, margin performance, and capital allocation. These fundamentals position us well to navigate the current environment and build long-term value for customers and shareholders.”\n \n \n \n \n \n \n 1\n \n \n \n \n \n \n Non-IFRS measure: see \"Non-IFRS and Other Financial Measures\".\n \n \n \n \n \n \n \n 2\n \n \n \n \n \n \n Supplementary financial measure: see \"Non-IFRS and Other Financial Measures\".\n \n \n \n \n \n \n \n \n \n \n \n \n Financial results\n \n \n (In millions of dollars, except per share and margin data)\n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n Variance\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n Variance\n \n \n \n \n \n \n Revenues\n \n \n \n \n \n $\n \n \n \n \n \n \n 760.7\n \n \n \n \n \n \n $\n \n \n \n \n 652.0\n \n \n \n \n \n 16.7%\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,225.8\n \n \n \n \n \n \n $\n \n \n \n \n 1,959.0\n \n \n \n \n \n 13.6%\n \n \n \n \n \n \n Net income\n \n \n \n \n \n $\n \n \n \n \n \n \n 30.0\n \n \n \n \n \n \n $\n \n \n \n \n 6.5\n \n \n \n \n \n 361.5%\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 87.9\n \n \n \n \n \n \n $\n \n \n \n \n 40.9\n \n \n \n \n \n 114.9%\n \n \n \n \n \n \n Adjusted earnings from operations\n \n 1\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 79.9\n \n \n \n \n \n \n $\n \n \n \n \n 65.7\n \n \n \n \n \n 21.6%\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 237.6\n \n \n \n \n \n \n $\n \n \n \n \n 208.3\n \n \n \n \n \n 14.1%\n \n \n \n \n \n \n Adjusted earnings from operations margin\n \n 2\n \n \n \n \n \n \n \n \n \n \n 10.5%\n \n \n \n \n \n \n \n \n \n \n 10.1%\n \n \n \n \n \n 43bps\n \n \n \n \n \n \n \n \n \n \n 10.7%\n \n \n \n \n \n \n \n \n \n \n 10.6%\n \n \n \n \n \n 4bps\n \n \n \n \n \n \n Adjusted EBITDA\n \n 1\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 105.2\n \n \n \n \n \n \n $\n \n \n \n \n 87.5\n \n \n \n \n \n 20.2%\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 310.5\n \n \n \n \n \n \n $\n \n \n \n \n 271.8\n \n \n \n \n \n 14.2%\n \n \n \n \n \n \n Adjusted EBITDA margin\n \n 2\n \n \n \n \n \n \n \n \n \n \n 13.8%\n \n \n \n \n \n \n \n \n \n \n 13.4%\n \n \n \n \n \n 41bps\n \n \n \n \n \n \n \n \n \n \n 14.0%\n \n \n \n \n \n \n \n \n \n \n 13.9%\n \n \n \n \n \n 8bps\n \n \n \n \n \n \n Basic earnings per share\n \n \n \n \n \n $\n \n \n \n \n \n \n 0.31\n \n \n \n \n \n \n $\n \n \n \n \n 0.07\n \n \n \n \n \n 342.9%\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.90\n \n \n \n \n \n \n $\n \n \n \n \n 0.42\n \n \n \n \n \n 114.3%\n \n \n \n \n \n \n Adjusted basic earnings per share\n \n 1\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.48\n \n \n \n \n \n \n $\n \n \n \n \n 0.32\n \n \n \n \n \n 50.0%\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 1.33\n \n \n \n \n \n \n $\n \n \n \n \n 1.07\n \n \n \n \n \n 24.3%\n \n \n \n \n \n \n Order Bookings\n \n 3\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 821\n \n \n \n \n \n \n $\n \n \n \n \n 883\n \n \n \n \n \n (7.0)%\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,248\n \n \n \n \n \n \n $\n \n \n \n \n 2,442\n \n \n \n \n \n (7.9)%\n \n \n \n \n \n \n \n \n \n As At\n \n \n \n \n \n \n December 28\n \n \n \n 2025\n \n \n \n \n \n \n December 29\n \n 2024\n \n \n \n \n \n \n \n Variance\n \n \n \n \n \n \n Order Backlog\n \n 3\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,053\n \n \n \n \n \n \n $\n \n \n \n \n 2,060\n \n \n \n \n \n (0.3)%\n \n \n \n \n \n \n 1\n \n Non-IFRS financial measure - See \"Non-IFRS and Other Financial Measures\".\n \n \n \n \n \n 2\n \n Non-IFRS ratio - See \"Non-IFRS and Other Financial Measures\".\n \n \n \n \n \n 3\n \n Supplementary financial measure - See \"Non-IFRS and Other Financial Measures\".\n \n \n \n \n \n CEO Appointment and CFO Transition\n \n \n On December 16, 2025, the Company announced the appointment of Doug Wright as Chief Executive Officer (\"CEO\") and a member of its Board of Directors. Mr. Wright joined ATS on January 12, 2026.\n \n \n Separately, on January 19, 2026, the Company announced that Ryan McLeod will resign as Chief Financial Officer, effective February 15, 2026, to pursue an opportunity in an unrelated industry. Anne Cybulski, Vice President, Corporate Controller, will assume the role of Interim Chief Financial Officer upon Mr. McLeod’s departure, and a search for a permanent replacement is underway.\n \n \n \n Third quarter summary\n \n \n \n Third quarter of fiscal 2026 revenues were 16.7% or $108.7 million higher than in the corresponding period a year ago, primarily due to a year-over-year increase in organic revenues (revenues excluding contributions from acquired companies and foreign exchange translation) of 12.6%, in all markets, with the exception of transportation, as expected, alongside a 4.1% positive impact of foreign exchange translation. Revenues generated from construction contracts increased 12.9% or $44.3 million from the prior period primarily due to organic revenue growth on higher Order Backlog entering the period, and the positive impact of foreign exchange translation. Revenues from services increased 29.4% or $46.4 million, primarily due to organic revenue growth on higher Order Backlog entering the period, and the positive impact of foreign exchange translation. Revenues from the sale of goods increased 12.0% or $18.0 million primarily due to organic revenue growth on higher Order Backlog entering the period, and the positive impact of foreign exchange translation.\n \n \n By market, revenues generated in life sciences increased $14.7 million or 3.9% year over year. This was primarily due to the positive impact of foreign exchange translation. Revenues generated in consumer products increased $48.9 million or 57.4% year over year primarily due to organic revenue growth, including contributions from warehouse packaging automation projects. Revenues generated in food & beverage increased $11.5 million or 10.2% from the corresponding period last year due to the positive impact of foreign exchange translation, in addition to organic revenue growth on higher Order Backlog entering the quarter. Revenues in energy increased $44.6 million or 161.6% year over year due to organic revenue growth on higher Backlog Order entering the quarter. Revenues in transportation decreased $11.0 million or 22.1% year over year due to lower Order Backlog entering the quarter.\n \n \n Net income for the third quarter of fiscal 2026 was $30.0 million (31 cents per share basic), compared to net income of $6.5 million (7 cent per share basic) for the third quarter of fiscal 2025. The increase primarily reflected higher revenues. Adjusted basic earnings per share were 48 cents compared to 32 cents in the third quarter of fiscal 2025.\n \n \n Depreciation and amortization expense was $40.3 million in the third quarter of fiscal 2026, compared to $37.9 million a year ago. This increase was due to incremental amortization on recent capital asset additions.\n \n \n EBITDA was $98.0 million (12.9% EBITDA margin) in the third quarter of fiscal 2026 compared to $71.0 million (10.9% EBITDA margin) in the third quarter of fiscal 2025. EBITDA for the third quarter of fiscal 2026 included $5.5 million of restructuring charges, $0.3 million of incremental costs related to acquisition activity and a $1.4 million expense of stock-based compensation due to revaluation of cash settled awards. EBITDA for the corresponding period in the prior year included $3.3 million of restructuring charges, $1.0 million of incremental costs related to acquisition activity, $2.1 million of acquisition-related fair value adjustments to acquired inventories, $8.7 million of one-time settlement costs for a cancelled customer project and a $1.4 million of stock-based compensation revaluation expenses. Excluding these amounts, adjusted EBITDA was $105.2 million (13.8% adjusted EBITDA margin), compared to $87.5 million (13.4% adjusted EBITDA margin) for the corresponding period in the prior year. Higher adjusted EBITDA primarily reflected increased revenues partially offset by increased selling, general and administrative costs.\n \n \n \n Order Backlog Continuity\n \n \n (In millions of dollars)\n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n Opening Order Backlog\n \n \n \n \n \n $\n \n \n \n \n \n \n 2,070\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,824\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,139\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,793\n \n \n \n \n \n \n \n \n \n \n Revenues\n \n \n \n \n \n \n \n \n \n (761\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (652\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (2,226\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (1,959\n \n \n \n \n )\n \n \n \n \n \n \n Order Bookings\n \n \n \n \n \n \n \n \n \n 821\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 883\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2,248\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2,442\n \n \n \n \n \n \n \n \n \n \n Order Backlog adjustments\n \n 1\n \n \n \n \n \n \n \n \n \n \n (77\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n 5\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (108\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (216\n \n \n \n \n )\n \n \n \n \n \n \n Total\n \n \n \n \n \n $\n \n \n \n \n \n \n 2,053\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 2,060\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,053\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 2,060\n \n \n \n \n \n \n \n \n \n \n 1\n \n Order Backlog adjustments include incremental Order Backlog of acquired companies ($12 million acquired with Paxiom Group (\"Paxiom\") in the nine months ended December 29, 2024), foreign exchange adjustments, and normal course scope changes and cancellations.\n \n \n \n \n \n Order Bookings\n \n \n Third quarter of fiscal 2026 Order Bookings were $821 million, a 7.0% year-over-year decrease, reflecting a 10.4% decline in organic Order Bookings, partially offset by 3.4% from the positive impact of foreign exchange translation. By market, Order Bookings in life sciences decreased compared to the prior-year period primarily due to the inclusion of several large enterprise Order Bookings last year and timing of customer capital investment cycles. Order Bookings within life sciences in the quarter were well diversified, including orders for radiopharmaceutical applications and for medical device equipment outside of autoinjector (GLP-1) assembly equipment. Order Bookings in consumer products increased from the prior period primarily due to timing of customer orders, including orders for warehouse packaging automation. Order Bookings in food & beverage decreased compared to the prior-year period primarily due to timing of customer capital spending decisions in Europe for tomato processing, partially offset by the positive impact of foreign exchange translation. Order Bookings in energy increased compared to the prior-year period, primarily reflecting strength in nuclear-related programs, including reactor refurbishment and fuel fabrication. Order Bookings in transportation decreased, as expected, based on end-market capacity requirements, particularly in electric vehicles (\"EV\").\n \n \n Trailing twelve month book-to-bill ratio at December 28, 2025 was 1.06:1.\n \n \n \n Backlog\n \n \n At December 28, 2025, Order Backlog was $2,053 million, 0.3% lower than at December 29, 2024.\n \n \n \n Outlook\n \n \n The life sciences funnel remains strong and diversified, with opportunities in strategic submarkets such as pharmaceuticals, radiopharmaceuticals, and medical devices. Management continues to identify opportunities with both new and existing customers, including those who produce diagnostic and therapeutic radiopharmaceuticals, auto-injectors, wearable devices, automated pharmacy solutions, contact lenses and pre-filled syringes, as well as opportunities to provide life science solutions that leverage integrated capabilities from across ATS. ATS serves customers in laboratory research where government funding in the U.S. has had and continues to face challenges. However, management has not seen a material impact on its overall life sciences funnel activity. Funnel activity in consumer products is stable, although discretionary spending by consumers, influenced by factors such as inflationary pressures, may impact timing of some customer investments in the Company's solutions. Funnel activity in food & beverage remains strong. The Company continues to benefit from strong brand recognition within global tomato processing, as well as other soft fruit and vegetable processing industries. There is continued demand for automated solutions within the food & beverage market more broadly, in areas such as secondary processing and packaging. Funnel activity in energy remains strong and includes longer-term opportunities in the nuclear industry. The Company is focused on clean energy applications including solutions for the refurbishment of nuclear power plants, early participation in the new reactor build market, including small modular reactors, and grid battery storage. In transportation, the funnel consists of opportunities reflective of current end-market capacity needs. ATS is positioned to deploy its specialized capabilities, including in EV battery assembly, to support customers as opportunities arise.\n \n \n Customers seeking to de-risk or enhance supply chain resiliency, address skilled worker shortages or combat higher labour costs present ongoing and future opportunities for ATS. Management believes that the underlying trends driving customer demand for ATS solutions, including growing labour constraints, production onshoring or reshoring and the need for scalable, high-quality, energy-efficient production, remain favourable. In addition, funnel growth in markets where sustainability requirements are a focus for customers — including nuclear and grid battery storage, as well as consumer goods packaging — provides ATS with opportunities to use its capabilities to respond to customer needs, such as global and regional requirements to reduce carbon emissions.\n \n \n Order Backlog of $2,053 million is expected to help mitigate some of the impact of quarterly variability in Order Bookings on revenues in the short term. The Company's Order Backlog includes several large enterprise programs that have longer periods of performance and therefore longer revenue recognition cycles, particularly in life sciences. In the fourth quarter of fiscal 2026, management expects to generate revenues in the range of $710 million to $750 million. This estimate is calculated each quarter based on management's assessment of project schedules across all customer contracts in Order Backlog, expectations for faster-turn product and services revenues, expected delivery timing of third-party equipment and operational capacity.\n \n \n Supplier lead times are generally acceptable across key categories; however, inflationary or other cost increases (see \"Tariffs\"), and price and lead-time volatility may continue to disrupt the timing and progress of the Company's margin expansion efforts and may affect revenue recognition. Over time, achieving management's margin target assumes that the Company will successfully implement its margin expansion initiatives, and that such initiatives will result in improvements to its adjusted earnings from operations margin that offset these shorter-term pressures (see \"Forward-Looking Statements\" for a description of the risks underlying the achievement of the margin target in future periods).\n \n \n The timing and geographies of customer capital expenditure decisions on larger opportunities, including as a result of their evaluations of tariffs, can cause variability in Order Bookings from quarter to quarter (see \"Tariffs\"). Revenues in a given period are dependent on a combination of the volume of outstanding projects the Company is contracted to perform, the size and duration of those projects, and the timing of project activities including design, assembly, testing, and installation. Given the specialized nature of the Company's offerings, the size and scope of projects vary based on customer needs. The Company seeks to achieve revenue growth organically and by identifying strategic acquisition opportunities that provide access to attractive end markets and new products and technologies and deliver hurdle-rate returns. After-sales revenues and reoccurring revenues, which ATS defines as revenues from ancillary products and services associated with equipment sales, and revenues from customers who purchase non-customized ATS products at regular intervals, are expected to provide some balance to customers' capital expenditure cycles.\n \n \n The Company continues to target improvements in non-cash working capital. Over the long term, the Company expects to continue investing in non-cash working capital to support growth, with some fluctuations expected on a quarter-over-quarter basis. The Company's long-term goal is to maintain its investment in non-cash working capital as a percentage of annualized revenues below 15%. The Company expects that continued cash flows from operations, together with cash and cash equivalents on hand and credit available under operating and long-term credit facilities will be sufficient to fund its requirements for investments in non-cash working capital and capital assets, and to fund strategic investment plans including some potential acquisitions. Acquisitions could result in additional debt or equity financing requirements for the Company. Non-cash working capital as a percentage of revenues is a non-IFRS ratio — see \"Non-IFRS and Other Financial Measures.\"\n \n \n The Company continues to make progress with its plans to integrate acquired companies, and expects to realize cost and revenue synergies consistent with announced integration plans.\n \n \n \n Reorganization Activity\n \n \n The Company periodically undertakes reviews of its operations to ensure alignment with strategic market opportunities. As a part of this review, the Company has identified an opportunity to improve the cost structure of the organization to reallocate resources to strategic focus areas and improve operational efficiencies. In the third quarter of fiscal 2026, restructuring expenses of $5.5 million were recorded in relation to these activities. Actions are expected to continue to the end of the fiscal year. The Company anticipates total restructuring expenses to be approximately $20 million; this increase compared to the previously disclosed amount is a result of additional opportunities identified to further optimize the cost structure.\n \n \n \n Tariffs\n \n \n The majority of the Company's shipments from Canada into the U.S. fall within the current terms of the US-Mexico-Canada trade agreement (\"USMCA\"). However, the U.S. has imposed tariffs on certain goods from various jurisdictions globally, including Canada and Europe; and further tariffs continue to be discussed. Management continues to actively monitor the situation as it evolves, and is taking steps to mitigate risks where possible while continuing to offer support to customers based on their needs, which may include onshoring or reshoring production. Supply chain impacts resulting from shifting trade dynamics have been largely mitigated through alternative sourcing, along with pricing strategies. While the Company could see impacts over time arising from unmitigated costs related to the tariffs themselves, potential supplier price increases, and the timing and geographic shifts in customers' capital deployment, ATS' global footprint and decentralized operating model, supported by the ABM, provide some flexibility to address potential disruptions over the long term. On a trailing twelve month basis, the Company's equipment and product adjusted revenues from its Canadian and European operations being sold into the U.S. remained consistent with the range previously disclosed (just over 20% of the Company's total adjusted revenues for the year ended March 31, 2025). Adjusted revenues is a non-IFRS financial measure - see Non-IFRS and Other Financial Measures.\n \n \n \n Quarterly Conference Call\n \n \n ATS will host a conference call and webcast at 8:30 a.m. eastern time on Wednesday, February 4, 2026 to discuss its quarterly results. The listen-only webcast can be accessed live at\n \n www.atsautomation.com\n \n . The listen-only webcast can be accessed at\n \n https://events.q4inc.com/attendee/136520854\n \n and the conference call can be accessed by dialing\n \n (888) 660-6652\n \n five minutes prior and quoting reference number 8782510. A replay of the conference will be available on the ATS website following the call. Alternatively, a telephone recording of the call will be available for one week (until midnight February 11, 2026) by dialing (800) 770-2030 and using the access code 8782510.\n \n \n \n About ATS\n \n \n ATS Corporation is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added solutions including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, transportation, food & beverage, consumer products, and energy. Founded in 1978, ATS employs approximately 7,500 people at more than 65 manufacturing facilities and over 85 offices in North America, Europe, Asia and Oceania. The Company's common shares are traded on the Toronto Stock Exchange (\"TSX\") and the New York Stock Exchange (\"NYSE\") under the symbol ATS. Visit the Company's website at\n \n www.atsautomation.com\n \n .\n \n \n SOURCE: ATS Corporation\n \n \n \n Consolidated Revenues\n \n \n (In millions of dollars)\n \n \n \n \n \n \n Revenues by type\n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n Revenues from construction contracts\n \n \n \n \n \n $\n \n \n \n \n \n \n 387.9\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 343.6\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 1,211.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,056.0\n \n \n \n \n \n \n Services rendered\n \n \n \n \n \n \n \n \n \n 204.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 158.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n 537.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n 491.8\n \n \n \n \n \n \n Sale of goods\n \n \n \n \n \n \n \n \n \n 168.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 150.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 477.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n 411.2\n \n \n \n \n \n \n \n Total revenues\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 760.7\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 652.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,225.8\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,959.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenues by market\n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n Life Sciences\n \n \n \n \n \n $\n \n \n \n \n \n \n 390.8\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 376.1\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 1,144.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,054.9\n \n \n \n \n \n \n Consumer Products\n \n \n \n \n \n \n \n \n \n 134.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n 85.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n 392.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n 246.4\n \n \n \n \n \n \n Food & Beverage\n \n \n \n \n \n \n \n \n \n 124.8\n \n \n \n \n \n \n \n \n \n \n \n \n \n 113.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 388.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n 304.0\n \n \n \n \n \n \n Energy\n \n \n \n \n \n \n \n \n \n 72.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n 27.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n 158.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n 90.3\n \n \n \n \n \n \n Transportation\n \n \n \n \n \n \n \n \n \n 38.8\n \n \n \n \n \n \n \n \n \n \n \n \n \n 49.8\n \n \n \n \n \n \n \n \n \n \n \n \n \n 143.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n 263.4\n \n \n \n \n \n \n \n Total revenues\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 760.7\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 652.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,225.8\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,959.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Consolidated Operating Results\n \n \n (In millions of dollars)\n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Earnings from operations\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 57.7\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 33.1\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 190.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 122.8\n \n \n \n \n \n \n \n \n \n \n Amortization of acquisition-related intangible assets\n \n \n \n \n \n \n \n \n \n 15.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n 16.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n 44.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 51.2\n \n \n \n \n \n \n \n \n \n \n Acquisition-related transaction costs\n \n \n \n \n \n \n \n \n \n 0.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.2\n \n \n \n \n \n \n \n \n \n \n Acquisition-related inventory fair value charges\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n 2.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.8\n \n \n \n \n \n \n \n \n \n \n Restructuring charges\n \n \n \n \n \n \n \n \n \n 5.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 20.4\n \n \n \n \n \n \n \n \n \n \n Cancelled contract costs\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n Stock-based compensation forfeiture\n \n 2\n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n (7.3\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n Mark to market portion of stock-based compensation\n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (1.8\n \n \n \n \n )\n \n \n \n \n \n \n \n Adjusted earnings from operations\n \n 1\n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 79.9\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 65.7\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 237.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 208.3\n \n \n \n \n \n \n \n \n \n \n 1\n \n Non-IFRS financial measure - See \"Non-IFRS and Other Financial Measures\".\n \n \n \n \n \n 2\n \n Reversal of previously recorded stock-based compensation expense due to the departure of the Company's former CEO within the fiscal year.\n \n \n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Earnings from operations\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 57.7\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 33.1\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 190.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 122.8\n \n \n \n \n \n \n \n \n \n \n Depreciation and amortization\n \n \n \n \n \n \n \n \n \n 40.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 37.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n 117.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 114.7\n \n \n \n \n \n \n \n \n \n \n \n EBITDA\n \n 1\n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 98.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 71.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 307.8\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 237.5\n \n \n \n \n \n \n \n \n \n \n Restructuring charges\n \n \n \n \n \n \n \n \n \n 5.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 20.4\n \n \n \n \n \n \n \n \n \n \n Acquisition-related transaction costs\n \n \n \n \n \n \n \n \n \n 0.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.2\n \n \n \n \n \n \n \n \n \n \n Acquisition-related inventory fair value charges\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n 2.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.8\n \n \n \n \n \n \n \n \n \n \n Cancelled contract costs\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n Stock-based compensation forfeiture\n \n 2\n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n (7.3\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n Mark to market portion of stock-based compensation\n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (1.8\n \n \n \n \n )\n \n \n \n \n \n \n \n Adjusted EBITDA\n \n 1\n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 105.2\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 87.5\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 310.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 271.8\n \n \n \n \n \n \n \n \n \n \n 1\n \n Non-IFRS financial measure - See \"Non-IFRS and Other Financial Measures\".\n \n \n \n \n \n 2\n \n Reversal of previously recorded stock-based compensation expense due to the departure of the Company's former CEO within the fiscal year.\n \n \n \n \n \n Order Backlog by Market\n \n \n (In millions of dollars)\n \n \n \n \n \n \n As at\n \n \n \n \n \n \n December 28\n \n \n \n 2025\n \n \n \n \n \n \n \n \n \n December 29\n \n 2024\n \n \n \n \n \n \n Life Sciences\n \n \n \n \n \n $\n \n \n \n \n \n \n 1,090\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,220\n \n \n \n \n \n \n Consumer Products\n \n \n \n \n \n \n \n \n \n 321\n \n \n \n \n \n \n \n \n \n \n \n \n \n 180\n \n \n \n \n \n \n Food & Beverage\n \n \n \n \n \n \n \n \n \n 203\n \n \n \n \n \n \n \n \n \n \n \n \n \n 252\n \n \n \n \n \n \n Energy\n \n \n \n \n \n \n \n \n \n 296\n \n \n \n \n \n \n \n \n \n \n \n \n \n 158\n \n \n \n \n \n \n Transportation\n \n \n \n \n \n \n \n \n \n 143\n \n \n \n \n \n \n \n \n \n \n \n \n \n 250\n \n \n \n \n \n \n \n Total\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,053\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 2,060\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Reconciliation of Non-IFRS Measures to IFRS Measures\n \n \n (In millions of dollars, except per share data)\n \n \n The following table reconciles adjusted EBITDA and EBITDA to the most directly comparable IFRS measure (net income):\n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Adjusted EBITDA\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 105.2\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 87.5\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 310.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 271.8\n \n \n \n \n \n \n \n \n \n \n Less: restructuring charges\n \n \n \n \n \n \n \n \n \n 5.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 20.4\n \n \n \n \n \n \n \n \n \n \n Less: acquisition-related transaction costs\n \n \n \n \n \n \n \n \n \n 0.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.2\n \n \n \n \n \n \n \n \n \n \n Less: acquisition-related inventory fair value charges\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n 2.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.8\n \n \n \n \n \n \n \n \n \n \n Less: Cancelled contract costs\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n Less: Stock-based compensation forfeiture\n \n 1\n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n (7.3\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n Less: mark to market portion of stock-based compensation\n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (1.8\n \n \n \n \n )\n \n \n \n \n \n \n \n EBITDA\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 98.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 71.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 307.8\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 237.5\n \n \n \n \n \n \n \n \n \n \n Less: depreciation and amortization expense\n \n \n \n \n \n \n \n \n \n 40.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 37.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n 117.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 114.7\n \n \n \n \n \n \n \n \n \n \n \n Earnings from operations\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 57.7\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 33.1\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 190.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 122.8\n \n \n \n \n \n \n \n \n \n \n Less: net finance costs\n \n \n \n \n \n \n \n \n \n 24.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n 22.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n 74.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 65.5\n \n \n \n \n \n \n \n \n \n \n Less: provision for income taxes\n \n \n \n \n \n \n \n \n \n 3.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n 4.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n 28.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 16.4\n \n \n \n \n \n \n \n \n \n \n \n Net income\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 30.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 6.5\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 87.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 40.9\n \n \n \n \n \n \n \n 1\n \n Reversal of previously recorded stock-based compensation expense due to the departure of the Company's former CEO within the fiscal year.\n \n \n \n \n The following table reconciles adjusted earnings from operations, adjusted net income, and adjusted basic earnings per share to the most directly comparable IFRS measures (net income and basic earnings per share):\n \n \n \n \n \n \n Three Months Ended December 28, 2025\n \n \n \n \n \n \n \n \n \n \n \n \n \n Three Months Ended December 29, 2024\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Earnings\n \n from\n \n operations\n \n \n \n \n \n \n \n \n \n \n \n \n Finance\n \n costs\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Provision\n \n for income taxes\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net\n \n income\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Basic\n \n EPS\n \n \n \n \n \n \n \n \n \n \n \n \n \n Earnings\n \n from\n \n operations\n \n \n \n \n \n \n \n \n \n \n Finance\n \n costs\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Provision\n \n for income\n \n taxes\n \n \n \n \n \n \n \n \n \n \n \n \n Net\n \n Income\n \n \n \n \n \n \n \n \n \n \n \n \n Basic\n \n EPS\n \n \n \n \n \n \n \n \n \n \n \n Reported (IFRS)\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 57.7\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (24.1\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (3.6\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 30.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.31\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 33.1\n \n \n \n \n \n \n \n \n $\n \n \n \n \n (22.5\n \n \n \n \n )\n \n \n \n \n \n \n \n \n $\n \n \n \n \n (4.1\n \n \n \n \n )\n \n \n \n \n \n \n \n \n $\n \n \n \n \n 6.5\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 0.07\n \n \n \n \n \n \n \n \n \n \n Amortization of acquisition-\n \n \n related intangibles\n \n \n \n \n \n \n \n \n \n 15.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 15.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.15\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 16.1\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 16.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.17\n \n \n \n \n \n \n \n \n \n \n Restructuring charges\n \n \n \n \n \n \n \n \n \n 5.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 5.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.06\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.3\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.03\n \n \n \n \n \n \n \n \n \n \n Acquisition-related inventory fair value charges\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2.1\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.02\n \n \n \n \n \n \n \n \n \n \n Acquisition-related transaction costs\n \n \n \n \n \n \n \n \n \n 0.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.0\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.01\n \n \n \n \n \n \n \n \n \n \n Cancelled contract costs\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.09\n \n \n \n \n \n \n \n \n \n \n Mark to market portion of stock-based compensation\n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.01\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.01\n \n \n \n \n \n \n \n \n \n \n Adjustment to provision for\n \n \n income taxes\n \n 1\n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (5.6\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (5.6\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (0.05\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (8.2\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n (8.2\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n (0.08\n \n \n \n \n )\n \n \n \n \n \n \n \n Adjusted (non-IFRS)\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 79.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 46.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.48\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 65.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 30.9\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 0.32\n \n \n \n \n \n \n \n \n \n \n 1\n \n Adjustments to provision for income taxes relate to the income tax effects of adjustment items that are excluded for the purposes of calculating non-IFRS based adjusted net income.\n \n \n \n \n \n \n \n \n Nine Months Ended December 28, 2025\n \n \n \n \n \n \n \n \n \n \n \n \n \n Nine Months Ended December 29, 2024\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Earnings\n \n from\n \n operations\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Finance\n \n costs\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Provision\n \n for income\n \n taxes\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net\n \n income\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Basic\n \n EPS\n \n \n \n \n \n \n \n \n \n \n \n \n \n Earnings\n \n from\n \n operations\n \n \n \n \n \n \n \n \n \n \n \n \n Finance\n \n costs\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Provision\n \n for income\n \n taxes\n \n \n \n \n \n \n \n \n \n \n \n \n Net\n \n income\n \n \n \n \n \n \n \n \n \n \n \n \n Basic\n \n EPS\n \n \n \n \n \n \n \n \n \n \n \n Reported (IFRS)\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 190.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (74.1\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (28.7\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 87.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.90\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 122.8\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (65.5\n \n \n \n \n )\n \n \n \n \n \n \n \n \n $\n \n \n \n \n (16.4\n \n \n \n \n )\n \n \n \n \n \n \n \n \n $\n \n \n \n \n 40.9\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 0.42\n \n \n \n \n \n \n \n \n \n \n Amortization of acquisition-related intangibles\n \n \n \n \n \n \n \n \n \n 44.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 44.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.45\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 51.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 51.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.52\n \n \n \n \n \n \n \n \n \n \n Restructuring charges\n \n \n \n \n \n \n \n \n \n 8.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.08\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 20.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 20.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.21\n \n \n \n \n \n \n \n \n \n \n Acquisition-related fair value inventory charges\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.8\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.8\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.04\n \n \n \n \n \n \n \n \n \n \n Acquisition-related transaction costs\n \n \n \n \n \n \n \n \n \n 0.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.01\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.03\n \n \n \n \n \n \n \n \n \n \n Cancelled contract costs\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.09\n \n \n \n \n \n \n \n \n \n \n Stock-based compensation forfeiture\n \n 1\n \n \n \n \n \n \n \n \n \n \n (7.3\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (7.3\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (0.07\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n Mark to market portion of\n \n \n stock-based compensation\n \n \n \n \n \n \n \n \n \n 1.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.01\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (1.8\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (1.8\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n (0.02\n \n \n \n \n )\n \n \n \n \n \n \n Adjustment to provision for income taxes\n \n 2\n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (4.7\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (4.7\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (0.05\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (22.0\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n (22.0\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n (0.22\n \n \n \n \n )\n \n \n \n \n \n \n \n Adjusted (non-IFRS)\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 237.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 130.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 1.33\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 208.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 104.4\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1.07\n \n \n \n \n \n \n \n \n \n \n 1\n \n Reversal of previously recorded stock-based compensation expense due to the departure of the Company's former CEO within the fiscal year.\n \n \n \n \n \n 2\n \n Adjustments to provision for income taxes includes an additional $11.7 million (December 29, 2024 - $22.0 million) relating to the income tax effects of adjusting items that are excluded for the purposes of calculating non-IFRS based adjusted net income, in addition to an adjusting item of ($5.4) million relating to the impact on deferred income tax assets arising from a tax rate change, and ($1.6) million of additional income tax provision related to the departure of the Company's former CEO within the fiscal year.\n \n \n \n \n The following table reconciles organic revenue to the most directly comparable IFRS measure (revenues):\n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n Organic revenue\n \n \n \n \n \n $\n \n \n \n \n \n \n 733.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 600.2\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,109.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,820.8\n \n \n \n \n \n \n Revenues of acquired companies\n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 41.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n 43.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 112.3\n \n \n \n \n \n \n Impact of foreign exchange rate changes\n \n \n \n \n \n \n \n \n \n 27.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 10.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n 73.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 25.9\n \n \n \n \n \n \n \n Total revenues\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 760.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 652.0\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,225.8\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,959.0\n \n \n \n \n \n \n \n Organic revenue growth\n \n \n \n \n \n \n \n \n \n \n 12.6\n \n \n \n \n \n \n %\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 7.7\n \n \n \n \n \n \n %\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n The following table reconciles non-cash working capital as a percentage of revenues to the most directly comparable IFRS measures:\n \n \n \n \n \n \n As at\n \n \n \n \n \n \n December 28, 2025\n \n \n \n \n \n \n \n \n \n \n \n March 31, 2025\n \n \n \n \n \n \n \n \n Accounts receivable\n \n \n \n \n \n $\n \n \n \n \n \n \n 657.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 719.4\n \n \n \n \n \n \n \n \n \n \n Income tax receivable\n \n \n \n \n \n \n \n \n \n 10.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 32.1\n \n \n \n \n \n \n \n \n \n \n Contract assets\n \n \n \n \n \n \n \n \n \n 473.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 503.6\n \n \n \n \n \n \n \n \n \n \n Inventories\n \n \n \n \n \n \n \n \n \n 308.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 320.2\n \n \n \n \n \n \n \n \n \n \n Deposits, prepaids and other assets\n \n \n \n \n \n \n \n \n \n 103.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 104.2\n \n \n \n \n \n \n \n \n \n \n Accounts payable and accrued liabilities\n \n \n \n \n \n \n \n \n \n (671.3\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (665.1\n \n \n \n \n )\n \n \n \n \n \n \n Income tax payable\n \n \n \n \n \n \n \n \n \n (40.1\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (40.1\n \n \n \n \n )\n \n \n \n \n \n \n Contract liabilities\n \n \n \n \n \n \n \n \n \n (327.9\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (330.1\n \n \n \n \n )\n \n \n \n \n \n \n Provisions\n \n \n \n \n \n \n \n \n \n (23.5\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (30.0\n \n \n \n \n )\n \n \n \n \n \n \n \n Non-cash working capital\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 489.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 614.2\n \n \n \n \n \n \n \n \n \n \n Trailing six-month revenues annualized\n \n \n \n \n \n $\n \n \n \n \n \n \n 2,978.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 2,746.1\n \n \n \n \n \n \n \n \n \n \n \n Working capital %\n \n \n \n \n \n \n \n \n \n \n 16.4\n \n \n \n \n \n \n %\n \n \n \n \n \n \n \n \n \n \n \n \n \n 22.4\n \n \n \n \n %\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n The following table reconciles net debt to the most directly comparable IFRS measures:\n \n \n \n \n \n \n As at\n \n \n \n \n \n \n December 28, 2025\n \n \n \n \n \n \n \n \n \n \n March 31, 2025\n \n \n \n \n \n \n \n Cash and cash equivalents\n \n \n \n \n \n $\n \n \n \n \n \n \n 263.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 225.9\n \n \n \n \n \n \n \n \n \n \n Bank indebtedness\n \n \n \n \n \n \n \n \n \n (1.9\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (27.3\n \n \n \n \n )\n \n \n \n \n \n \n Current portion of lease liabilities\n \n \n \n \n \n \n \n \n \n (34.2\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (32.7\n \n \n \n \n )\n \n \n \n \n \n \n Current portion of long-term debt\n \n \n \n \n \n \n \n \n \n (0.2\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (0.2\n \n \n \n \n )\n \n \n \n \n \n \n Long-term lease liabilities\n \n \n \n \n \n \n \n \n \n (96.3\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (96.7\n \n \n \n \n )\n \n \n \n \n \n \n Long-term debt\n \n \n \n \n \n \n \n \n \n (1,365.5\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (1,543.5\n \n \n \n \n )\n \n \n \n \n \n \n \n Net Debt\n \n \n \n \n \n \n $\n \n \n \n \n \n \n (1,235.0\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (1,474.5\n \n \n \n \n )\n \n \n \n \n \n \n Pro Forma Adjusted EBITDA (TTM)\n \n \n \n \n \n $\n \n \n \n \n \n \n 407.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 374.4\n \n \n \n \n \n \n \n \n \n \n \n Net Debt to Pro Forma Adjusted EBITDA\n \n \n \n \n \n \n 3.0x\n \n \n \n \n \n \n \n \n \n \n 3.9x\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n The following table reconciles free cash flow to the most directly comparable IFRS measures:\n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n Cash flows provided by (used in) operating activities\n \n \n \n \n \n $\n \n \n \n \n \n \n 114.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 66.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 298.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (13.5\n \n \n \n \n )\n \n \n \n \n \n \n Acquisition of property, plant and equipment\n \n \n \n \n \n \n \n \n \n (6.1\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (6.9\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (21.3\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (22.1\n \n \n \n \n )\n \n \n \n \n \n \n Acquisition of intangible assets\n \n \n \n \n \n \n \n \n \n (10.5\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (9.5\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (30.0\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (27.0\n \n \n \n \n )\n \n \n \n \n \n \n \n Free cash flow\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 98.0\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 50.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 247.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (62.6\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Certain non-IFRS financial measures exclude the impact on stock-based compensation expense of the revaluation of restricted share units (\"RSUs\") and deferred share units (\"DSUs\") resulting specifically from the change in market price of the Company's common shares between periods. Management believes the adjustment provides further insight into the Company's performance.\n \n \n The following table reconciles total stock-based compensation expense to its components:\n \n \n \n \n \n (in millions of dollars)\n \n \n \n \n \n Q3 2026\n \n \n \n \n \n \n \n \n \n Q2 2026\n \n \n \n \n \n \n \n \n \n \n Q1 2026\n \n \n \n \n \n \n \n \n Q4 2025\n \n \n \n \n \n \n \n \n \n \n Q3 2025\n \n \n \n \n \n \n \n \n Q2 2025\n \n \n \n \n \n \n \n \n \n \n Q1 2025\n \n \n \n \n \n \n \n \n \n \n Q4 2024\n \n \n \n \n \n \n \n \n Total stock-based compensation expense\n \n \n (recovery)\n \n \n \n \n \n $\n \n \n \n \n \n \n 4.5\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (6.7\n \n \n \n \n )\n \n \n \n \n \n \n \n \n $\n \n \n \n \n 8.4\n \n \n \n \n \n \n \n \n $\n \n \n \n \n (2.3\n \n \n \n \n )\n \n \n \n \n \n \n \n \n $\n \n \n \n \n 5.1\n \n \n \n \n \n \n \n \n $\n \n \n \n \n 2.7\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 3.7\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (4.3\n \n \n \n \n )\n \n \n \n \n \n \n Less: stock-based compensation forfeiture\n \n 1\n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n (7.3\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n Less: Mark to market portion of stock-based\n \n \n compensation\n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n \n (3.7\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n 3.6\n \n \n \n \n \n \n \n \n \n \n \n \n (3.4\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n 1.4\n \n \n \n \n \n \n \n \n \n \n \n \n (1.9\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n (1.3\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n (8.5\n \n \n \n \n )\n \n \n \n \n \n \n \n Base stock-based compensation expense\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 3.1\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (3.0\n \n \n \n \n )\n \n \n \n \n \n \n \n \n $\n \n \n \n \n 4.8\n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1.1\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 3.7\n \n \n \n \n \n \n \n \n $\n \n \n \n \n 4.6\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 5.0\n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 4.2\n \n \n \n \n \n \n \n 1\n \n Reversal of previously recorded stock-based compensation expense due to the departure of the Company's former CEO within the fiscal year.\n \n \n \n \n \n INVESTMENTS, LIQUIDITY, CASH FLOW AND FINANCIAL RESOURCES\n \n \n (In millions of dollars, except ratios)\n \n \n \n \n \n As at\n \n \n \n \n \n December 28, 2025\n \n \n \n \n \n \n \n \n \n March 31, 2025\n \n \n \n \n \n \n Cash and cash equivalents\n \n \n \n \n \n $\n \n \n \n \n \n \n 263.1\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 225.9\n \n \n \n \n \n \n Debt-to-equity ratio\n \n 1\n \n \n \n \n \n \n 0.92:1\n \n \n \n \n \n \n \n \n \n 1.10:1\n \n \n \n \n \n \n 1\n \n Debt is calculated as bank indebtedness, long-term debt and lease liabilities. Equity is calculated as total equity less accumulated other comprehensive income.\n \n \n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Three Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n \n \n December 28,\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n Nine Months\n \n Ended\n \n December 29,\n \n 2024\n \n \n \n \n \n \n \n \n Cash, beginning of period\n \n \n \n \n \n $\n \n \n \n \n \n \n 197.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 246.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 225.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 170.2\n \n \n \n \n \n \n \n \n \n \n Total cash provided by (used in):\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating activities\n \n \n \n \n \n \n \n \n \n 114.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 66.7\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 298.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (13.5\n \n \n \n \n )\n \n \n \n \n \n \n Investing activities\n \n \n \n \n \n \n \n \n \n (16.7\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (30.3\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (51.2\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (243.9\n \n \n \n \n )\n \n \n \n \n \n \n Financing activities\n \n \n \n \n \n \n \n \n \n (30.9\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (21.6\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (210.6\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n 344.6\n \n \n \n \n \n \n \n \n \n \n Net foreign exchange difference\n \n \n \n \n \n \n \n \n \n (1.2\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1.5\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 0.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 5.8\n \n \n \n \n \n \n \n \n \n \n \n Cash, end of period\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 263.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 263.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 263.1\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 263.2\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ATS CORPORATION\n \n \n \n Interim Condensed Consolidated Statements of Financial Position\n \n \n (in thousands of Canadian dollars - unaudited)\n \n \n \n \n As at\n \n \n \n \n \n \n \n \n December 28\n \n \n \n 2025\n \n \n \n \n \n \n \n \n \n March 31\n \n 2025\n \n \n \n \n \n \n \n ASSETS\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Current assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cash and cash equivalents\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 263,088\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 225,947\n \n \n \n \n \n \n Accounts receivable\n \n \n \n \n \n \n \n \n \n \n \n \n \n 657,006\n \n \n \n \n \n \n \n \n \n \n \n \n \n 719,435\n \n \n \n \n \n \n Income tax receivable\n \n \n \n \n \n \n \n \n \n \n \n \n \n 10,345\n \n \n \n \n \n \n \n \n \n \n \n \n \n 32,065\n \n \n \n \n \n \n Contract assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n 473,583\n \n \n \n \n \n \n \n \n \n \n \n \n \n 503,552\n \n \n \n \n \n \n Inventories\n \n \n \n \n \n \n \n \n \n \n \n \n \n 308,136\n \n \n \n \n \n \n \n \n \n \n \n \n \n 320,172\n \n \n \n \n \n \n Deposits, prepaids and other assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n 103,321\n \n \n \n \n \n \n \n \n \n \n \n \n \n 104,179\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,815,479\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,905,350\n \n \n \n \n \n \n \n Non-current assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Property, plant and equipment\n \n \n \n \n \n \n \n \n \n \n \n \n \n 315,424\n \n \n \n \n \n \n \n \n \n \n \n \n \n 325,048\n \n \n \n \n \n \n Right-of-use assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n 123,010\n \n \n \n \n \n \n \n \n \n \n \n \n \n 122,291\n \n \n \n \n \n \n Long-term deposits\n \n \n \n \n \n \n \n \n \n \n \n \n \n 4,866\n \n \n \n \n \n \n \n \n \n \n \n \n \n 4,992\n \n \n \n \n \n \n Other assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n 4,787\n \n \n \n \n \n \n \n \n \n \n \n \n \n 7,062\n \n \n \n \n \n \n Goodwill\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,390,325\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,394,576\n \n \n \n \n \n \n Intangible assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n 712,985\n \n \n \n \n \n \n \n \n \n \n \n \n \n 758,531\n \n \n \n \n \n \n Deferred income tax assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n 115,917\n \n \n \n \n \n \n \n \n \n \n \n \n \n 104,022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2,667,314\n \n \n \n \n \n \n \n \n \n \n \n \n \n 2,716,522\n \n \n \n \n \n \n \n Total assets\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 4,482,793\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 4,621,872\n \n \n \n \n \n \n \n LIABILITIES AND EQUITY\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Current liabilities\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Bank indebtedness\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 1,923\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 27,271\n \n \n \n \n \n \n Accounts payable and accrued liabilities\n \n \n \n \n \n \n \n \n \n \n \n \n \n 671,320\n \n \n \n \n \n \n \n \n \n \n \n \n \n 665,109\n \n \n \n \n \n \n Income tax payable\n \n \n \n \n \n \n \n \n \n \n \n \n \n 40,062\n \n \n \n \n \n \n \n \n \n \n \n \n \n 40,073\n \n \n \n \n \n \n Contract liabilities\n \n \n \n \n \n \n \n \n \n \n \n \n \n 327,885\n \n \n \n \n \n \n \n \n \n \n \n \n \n 330,134\n \n \n \n \n \n \n Provisions\n \n \n \n \n \n \n \n \n \n \n \n \n \n 23,502\n \n \n \n \n \n \n \n \n \n \n \n \n \n 29,960\n \n \n \n \n \n \n Current portion of lease liabilities\n \n \n \n \n \n \n \n \n \n \n \n \n \n 34,202\n \n \n \n \n \n \n \n \n \n \n \n \n \n 32,694\n \n \n \n \n \n \n Current portion of long-term debt\n \n \n \n \n \n \n \n \n \n \n \n \n \n 174\n \n \n \n \n \n \n \n \n \n \n \n \n \n 219\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,099,068\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,125,460\n \n \n \n \n \n \n \n Non-current liabilities\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Employee benefits\n \n \n \n \n \n \n \n \n \n \n \n \n \n 26,535\n \n \n \n \n \n \n \n \n \n \n \n \n \n 25,805\n \n \n \n \n \n \n Long-term provisions\n \n \n \n \n \n \n \n \n \n \n \n \n \n 245\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,000\n \n \n \n \n \n \n Long-term lease liabilities\n \n \n \n \n \n \n \n \n \n \n \n \n \n 96,262\n \n \n \n \n \n \n \n \n \n \n \n \n \n 96,699\n \n \n \n \n \n \n Long-term debt\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,365,537\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,543,459\n \n \n \n \n \n \n Deferred income tax liabilities\n \n \n \n \n \n \n \n \n \n \n \n \n \n 88,128\n \n \n \n \n \n \n \n \n \n \n \n \n \n 100,573\n \n \n \n \n \n \n Other long-term liabilities\n \n \n \n \n \n \n \n \n \n \n \n \n \n 25,482\n \n \n \n \n \n \n \n \n \n \n \n \n \n 19,519\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,602,189\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,787,055\n \n \n \n \n \n \n \n Total liabilities\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,701,257\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 2,912,515\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n EQUITY\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Share capital\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 851,073\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 842,015\n \n \n \n \n \n \n Contributed surplus\n \n \n \n \n \n \n \n \n \n \n \n \n \n 29,623\n \n \n \n \n \n \n \n \n \n \n \n \n \n 36,539\n \n \n \n \n \n \n Accumulated other comprehensive income\n \n \n \n \n \n \n \n \n \n \n \n \n \n 160,837\n \n \n \n \n \n \n \n \n \n \n \n \n \n 166,855\n \n \n \n \n \n \n Retained earnings\n \n \n \n \n \n \n \n \n \n \n \n \n \n 738,200\n \n \n \n \n \n \n \n \n \n \n \n \n \n 660,368\n \n \n \n \n \n \n Equity attributable to shareholders\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,779,733\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,705,777\n \n \n \n \n \n \n Non-controlling interests\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,803\n \n \n \n \n \n \n \n \n \n \n \n \n \n 3,580\n \n \n \n \n \n \n \n Total equity\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,781,536\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,709,357\n \n \n \n \n \n \n \n Total liabilities and equity\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 4,482,793\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 4,621,872\n \n \n \n \n \n Please refer to complete Interim Condensed Consolidated Financial Statements for supplemental notes which can be found on the\n \n \n Company’s profile on SEDAR+ at\n \n www.sedarplus.com\n \n , the Company's profile on the U.S. Securities and Exchange Commission's website at\n \n www.sec.gov\n \n , and on the Company’s website at\n \n www.atsautomation.com\n \n .\n \n \n \n ATS CORPORATION\n \n \n \n Interim Condensed Consolidated Statements of Income\n \n \n \n \n (in thousands of Canadian dollars - unaudited)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Three months ended\n \n \n \n \n \n \n \n \n \n \n Nine months ended\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n December 28\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n \n \n December 29\n \n 2024\n \n \n \n \n \n \n \n \n \n December 28\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n \n \n December 29\n \n 2024\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenues\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 760,653\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 651,993\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 2,225,829\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 1,959,044\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating costs and expenses\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cost of revenues\n \n \n \n \n \n \n \n \n \n \n \n \n \n 535,780\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 454,061\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,563,231\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,374,193\n \n \n \n \n \n \n Selling, general and administrative\n \n \n \n \n \n \n \n \n \n \n \n \n \n 157,231\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 156,365\n \n \n \n \n \n \n \n \n \n \n \n \n \n 457,738\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 430,025\n \n \n \n \n \n \n Restructuring costs\n \n \n \n \n \n \n \n \n \n \n \n \n \n 5,485\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3,360\n \n \n \n \n \n \n \n \n \n \n \n \n \n 7,978\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 20,435\n \n \n \n \n \n \n Stock-based compensation\n \n \n \n \n \n \n \n \n \n \n \n \n \n 4,458\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 5,125\n \n \n \n \n \n \n \n \n \n \n \n \n \n 6,157\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 11,548\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Earnings from operations\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 57,699\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 33,082\n \n \n \n \n \n \n \n \n \n \n \n \n \n 190,725\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 122,843\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net finance costs\n \n \n \n \n \n \n \n \n \n \n \n \n \n 24,056\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 22,440\n \n \n \n \n \n \n \n \n \n \n \n \n \n 74,110\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 65,492\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income before income taxes\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 33,643\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 10,642\n \n \n \n \n \n \n \n \n \n \n \n \n \n 116,615\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 57,351\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income tax expense\n \n \n \n \n \n \n \n \n \n \n \n \n \n 3,610\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 4,137\n \n \n \n \n \n \n \n \n \n \n \n \n \n 28,678\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 16,438\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net income\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 30,033\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 6,505\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 87,937\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 40,913\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Attributable to\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Shareholders\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 29,946\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 6,414\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 87,742\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 40,809\n \n \n \n \n \n \n Non-controlling interests\n \n \n \n \n \n \n \n \n \n \n \n \n \n 87\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 91\n \n \n \n \n \n \n \n \n \n \n \n \n \n 195\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 104\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 30,033\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 6,505\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 87,937\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 40,913\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Earnings per share attributable to shareholders\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Basic\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.31\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 0.07\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.90\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 0.42\n \n \n \n \n \n \n Diluted\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.30\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 0.07\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 0.89\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 0.41\n \n \n \n \n \n Please refer to complete Interim Condensed Consolidated Financial Statements for supplemental notes which can be found on the\n \n \n Company’s profile on SEDAR+ at\n \n www.sedarplus.com\n \n , the Company's profile on the U.S. Securities and Exchange Commission's website at\n \n www.sec.gov\n \n , and on the Company’s website at\n \n www.atsautomation.com\n \n .\n \n \n \n ATS CORPORATION\n \n \n \n Interim Condensed Consolidated Statements of Cash Flows\n \n \n (in thousands of Canadian dollars - unaudited)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Three months ended\n \n \n \n \n \n \n \n \n \n \n \n \n Nine months ended\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n December 28\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n December 29\n \n 2024\n \n \n \n \n \n \n \n \n \n \n \n December 28\n \n 2025\n \n \n \n \n \n \n \n \n \n \n \n December 29\n \n 2024\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating activities\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net income\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 30,033\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 6,505\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 87,937\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 40,913\n \n \n \n \n \n \n \n \n \n \n Items not involving cash\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Depreciation of property, plant and equipment\n \n \n \n \n \n \n \n \n \n \n \n \n \n 8,770\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8,404\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 25,790\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 25,152\n \n \n \n \n \n \n \n \n \n \n Amortization of right-of-use assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n 9,965\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8,563\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 28,766\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 24,967\n \n \n \n \n \n \n \n \n \n \n Amortization of intangible assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n 21,569\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 20,943\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 62,493\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 64,511\n \n \n \n \n \n \n \n \n \n \n Deferred income taxes\n \n \n \n \n \n \n \n \n \n \n \n \n \n (7,540\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (9,488\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (32,810\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (25,266\n \n \n \n \n )\n \n \n \n \n \n \n Other items not involving cash\n \n \n \n \n \n \n \n \n \n \n \n \n \n (1,969\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (1,605\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (2,234\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (2,666\n \n \n \n \n )\n \n \n \n \n \n \n Stock-based compensation\n \n \n \n \n \n \n \n \n \n \n \n \n \n 2,701\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3,281\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 3,524\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 9,907\n \n \n \n \n \n \n \n \n \n \n Change in non-cash operating working capital\n \n \n \n \n \n \n \n \n \n \n \n \n \n 51,079\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 30,081\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 125,415\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (151,073\n \n \n \n \n )\n \n \n \n \n \n \n \n Cash flows provided by (used in) operating activities\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 114,608\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 66,684\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 298,881\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (13,555\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Investing activities\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Acquisition of property, plant and equipment\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (6,068\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (6,901\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (21,297\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (22,111\n \n \n \n \n )\n \n \n \n \n \n \n Acquisition of intangible assets\n \n \n \n \n \n \n \n \n \n \n \n \n \n (10,471\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (9,506\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (29,951\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (27,032\n \n \n \n \n )\n \n \n \n \n \n \n Business acquisitions, net of cash acquired\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2,280\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (179,389\n \n \n \n \n )\n \n \n \n \n \n \n Settlement of cross-currency interest rate swap instrument\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (16,555\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (16,555\n \n \n \n \n )\n \n \n \n \n \n \n Proceeds from disposal of property, plant and equipment\n \n \n \n \n \n \n \n \n \n \n \n \n \n (125\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 350\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,135\n \n \n \n \n \n \n \n \n \n \n \n Cash flows used in investing activities\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (16,664\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (30,332\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (51,248\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (243,952\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Financing activities\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Bank indebtedness\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (5,270\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (13,559\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (25,237\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (503\n \n \n \n \n )\n \n \n \n \n \n \n Repayment of long-term debt\n \n \n \n \n \n \n \n \n \n \n \n \n \n (16,315\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (218,569\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (231,385\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (505,686\n \n \n \n \n )\n \n \n \n \n \n \n Proceeds from long-term debt\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 193,836\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 84,999\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 908,354\n \n \n \n \n \n \n \n \n \n \n Settlement of cross-currency interest rate swap instrument\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 24,262\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 24,262\n \n \n \n \n \n \n \n \n \n \n Proceeds from exercise of stock options\n \n \n \n \n \n \n \n \n \n \n \n \n \n 55\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 52\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 11,088\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 139\n \n \n \n \n \n \n \n \n \n \n Purchase of non-controlling interest\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (4,370\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n Repurchase of common shares\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (10,000\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (44,983\n \n \n \n \n )\n \n \n \n \n \n \n Acquisition of shares held in trust\n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n —\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (9,616\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (14,690\n \n \n \n \n )\n \n \n \n \n \n \n Principal lease payments\n \n \n \n \n \n \n \n \n \n \n \n \n \n (9,387\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (7,678\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (26,059\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n (22,244\n \n \n \n \n )\n \n \n \n \n \n \n \n Cash flows provided by (used in) financing activities\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (30,917\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n (21,656\n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n (210,580\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 344,649\n \n \n \n \n \n \n \n \n \n \n Effect of exchange rate changes on cash and cash equivalents\n \n \n \n \n \n \n \n \n \n \n \n \n \n (1,251\n \n \n \n \n \n \n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1,519\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 88\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 5,833\n \n \n \n \n \n \n \n \n \n \n Increase in cash and cash equivalents\n \n \n \n \n \n \n \n \n \n \n \n \n \n 65,776\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 16,215\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 37,141\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 92,975\n \n \n \n \n \n \n \n \n \n \n Cash and cash equivalents, beginning of period\n \n \n \n \n \n \n \n \n \n \n \n \n \n 197,312\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 246,937\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 225,947\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 170,177\n \n \n \n \n \n \n \n \n \n \n \n Cash and cash equivalents, end of period\n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 263,088\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 263,152\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 263,088\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 263,152\n \n \n \n \n \n \n \n \n \n \n \n Supplemental information\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cash income taxes paid\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 15,891\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 21,797\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 29,995\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 51,213\n \n \n \n \n \n \n \n \n \n \n Cash interest paid\n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 18,230\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 23,147\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n \n \n 67,878\n \n \n \n \n \n \n \n \n \n \n \n \n \n $\n \n \n \n \n 62,837\n \n \n \n \n \n \n \n \n \n Please refer to complete Interim Condensed Consolidated Financial Statements for supplemental notes which can be found on the\n \n \n Company’s profile on SEDAR+ at\n \n www.sedarplus.com\n \n , the Company's profile on the U.S. Securities and Exchange Commission's website at\n \n www.sec.gov\n \n , and on the Company’s website at\n \n www.atsautomation.com\n \n .\n \n \n \n Non-IFRS and Other Financial Measures\n \n \n Throughout this document, management uses certain non-IFRS financial measures, non-IFRS ratios and supplementary financial measures to evaluate the performance of the Company.\n \n \n The terms \"EBITDA\", \"organic revenue\", \"adjusted net income\", \"adjusted earnings from operations\", \"adjusted revenues\", \"adjusted EBITDA\", \"pro forma adjusted EBITDA\", \"adjusted basic earnings per share\", and \"free cash flow\", are non-IFRS financial measures, \"EBITDA margin\", \"adjusted earnings from operations margin\", \"adjusted EBITDA margin\", \"organic revenue growth\", \"non-cash working capital as a percentage of revenues\", and \"net debt to pro forma adjusted EBITDA\" are non-IFRS ratios, and \"operating margin\", \"Order Bookings\", \"organic Order Bookings\", \"organic Order Bookings growth\", \"Order Backlog\", and \"book-to-bill ratio\" are supplementary financial measures, all of which do not have any standardized meaning prescribed within IFRS and therefore may not be comparable to similar measures presented by other companies. Such measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. In addition, management uses \"earnings from operations\", which is an additional IFRS measure, to evaluate the performance of the Company. Earnings from operations is presented on the Company's consolidated statements of income as net income excluding income tax expense and net finance costs. Operating margin is an expression of the Company's earnings from operations as a percentage of revenues. EBITDA is defined as earnings from operations excluding depreciation and amortization. EBITDA margin is an expression of the Company's EBITDA as a percentage of revenues. Organic revenue is defined as revenues in the stated period excluding revenues from acquired companies for which the acquired company was not a part of the consolidated group in the comparable period. Organic revenue growth compares the stated period organic revenue with the reported revenue of the comparable prior period. Adjusted earnings from operations is defined as earnings from operations before items excluded from management's internal analysis of operating results, such as amortization expense of acquisition-related intangible assets, acquisition-related transaction and integration costs, restructuring charges, legal settlement costs that arise outside of the ordinary course of business, the mark-to-market adjustment on stock-based compensation and certain other adjustments which would be non-recurring in nature (\"adjustment items\"). Adjusted earnings from operations margin is an expression of the Company's adjusted earnings from operations as a percentage of revenues. Adjusted revenues are defined as revenues before any adjustment items. Adjusted EBITDA is defined as adjusted earnings from operations excluding depreciation and amortization. Pro forma adjusted EBITDA is adjusted EBITDA on a pro forma basis to reflect full contribution from recent acquisitions. Adjusted EBITDA margin is an expression of the entity's adjusted EBITDA as a percentage of revenues. Adjusted basic earnings per share is defined as adjusted net income on a basic per share basis, where adjusted net income is defined as adjusted earnings from operations less net finance costs and income tax expense, plus tax effects of adjustment items and adjusted for other significant items of a non-recurring nature. Non-cash working capital as a percentage of revenues is defined as the sum of accounts receivable, contract assets, inventories, deposits, prepaids and other assets, less accounts payable, accrued liabilities, provisions and contract liabilities divided by the trailing two fiscal quarter revenues annualized. Free cash flow is defined as cash provided by operating activities less property, plant and equipment and intangible asset expenditures. Net debt to pro forma adjusted EBITDA is the ratio of the net debt of the Company (cash and cash equivalents less bank indebtedness, long-term debt, and lease liabilities) to the trailing twelve month pro forma adjusted EBITDA. Order Bookings represent new orders for the supply of automation systems, services and products that management believes are firm. Organic Order Bookings are defined as Order Bookings in the stated period excluding...

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