Calian Group (CGY) Investor presentation summary

Financial highlights and growth trajectory

• Achieved FY24 revenues of $747M and adjusted EBITDA of $92M, reflecting 13% and 30% year-over-year growth, respectively.

• Maintains a 15% revenue CAGR and 20% adjusted EBITDA CAGR since 2017, with consistent double-digit revenue growth over the past five years.

• Operating free cash flow conversion remains strong at ~70%, supporting internally funded growth without equity issuance.

• Net debt to adjusted EBITDA remains well below the 2.5x target, indicating a solid balance sheet and under-levered position.

• Over $200M in liquidity is available to pursue further growth initiatives.

Strategic objectives and M&A execution

• Targets $1B in revenues and $125M in adjusted EBITDA by FY26, driven by 5% organic and 10% acquisitive growth.

• Plans to deploy $250–300M in capital for M&A at 6x–8x EBITDA multiples, aiming for IRR above 15% before synergies.

• Nearly 50% of the 3-year adjusted EBITDA M&A target has been achieved after year one, with $90M deployed and $18.5M in EBITDA added.

• Consistently closes 2–3 acquisitions per year, with recent deals including Decisive, MDA Nuclear Assets, and Mabway.

Revenue diversification and segment performance

• Revenue is diversified across four segments: ITCS (29%), Health (28%), Advanced Technologies (28%), and Learning (15%).

• International revenue has grown at a 22% CAGR, product revenue at 12% CAGR, and commercial revenue at 16% CAGR since 2020.

• ITCS segment saw 13% EBITDA margin and $214M in FY24 revenues, with 17% acquisitive growth.

• Health segment delivered 18% EBITDA margin and $212M in revenues, with 15% organic growth.

• Advanced Technologies achieved 20% EBITDA margin and $208M in revenues, with 18% acquisitive growth.

• Learning segment posted 16% EBITDA margin and $113M in revenues, with 14% acquisitive growth.