Foraco International Reports Q4 & FY 2025 Audited Results

About this update from Foraco International Sa

Increased Activity QoQ and Record Backlog Providing Strong Visibility for 2026 and Beyond TORONTO, March 2, 2026 /CNW/ - Foraco International SA (TSX: FAR) ("Foraco" or the "Company"), a leading global provider of drilling services, today reported its financial results for the three-month and year ended December 31, 2025. All amounts are expressed in US dollars (US$) unless otherwise stated. Q4 2025 Highlights: Management Comments Tim Bremner, Chief Executive Officer of Foraco, stated, "In Q4 2025, South America was the Group's main growth driver, with revenue nearly doubling year-on-year on the back of new long-term contracts, while North America and Asia Pacific were impacted by the early seasonal break in drilling operations compared to last year. FY 2025 was a transition year for the Group. During the period we successfully strengthened the Group's commercial activity, which resulted in a record backlog at year-end. We also reinforced our management structure, gained new clients mainly in gold, capitalized on our water segment, relocated assets across regions, redeployed the company within Canada and developed the United States. As at December 31, 2025, the order backlog for continuing operations reached a record level of US$ 404.4 million, compared with US$ 220.5 million as at December 31, 2024. With most major mobilizations now completed, the Group enters FY 2026 with a solid operational base, supporting a progressive recovery in performance." Fabien Sevestre, Chief Financial Officer of Foraco, added, "During the quarter, we secured and began executing several long-term contracts in key regions. Capital expenditure was executed to support these contracts and longer-term growth. Throughout Q4 and FY 2025, we maintained strict financial discipline. We generated positive free cash flow and secured financing lines to support growth. We preserved a solid balance sheet, with full compliance with financial covenants. Cost control remained strict. Working capital was stable at US$ 0.6 million, reflecting sound management. All the above enhances revenue visibility for FY 2026 and supports improved cash conversion." Income Statement Highlights – Q4 2025 Revenue Profitability Highlights – FY 2025 Revenue For the year ended December 31, 2025, the revenue amounted to US$258.2 million compared to US$293.5 milli...

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