ATS (ATS) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with a welcome, introduction of board and executive team, and emphasis on shareholder engagement.

• Agenda included business updates, financial review, election of directors, auditor reappointment, and executive compensation advisory vote.

Financial performance review

• Fiscal 2024 delivered record revenues of CAD 3 billion and adjusted earnings of CAD 398 million, with 18% revenue growth and 11% organic growth.

• Order bookings reached CAD 2.9 billion, ending with a CAD 1.8 billion backlog; adjusted EBITDA margin was 15.5%.

• Five-year compound annual revenue growth averaged 19.3%, with adjusted EBITDA growing 23.7% annually.

• Cash from operations was CAD 21 million, with a free cash outflow of CAD 68 million; net debt to adjusted EBITDA at 2.4:1.

Board and executive committee updates

• Board advanced ESG priorities, supported capital allocation strategies, and oversaw four acquisitions enhancing services, digitization, and AI capabilities.

• Sustainability committee is now fully active, alongside Audit, Governance, HR, and Strategic Opportunities committees.