Calian Group (CGY) Investor presentation summary

Business overview and market position

• Over 40 years in operation with a workforce of 5,800 and a market cap of $542M.

• FY24 revenues reached $747M, with 49% from commercial and 51% from government customers.

• Revenue segmentation: 29% ITCS, 28% Advanced Technologies, 28% Health, 15% Learning.

• 68% of revenues are Canadian, 32% international; 70% services, 30% products.

• Key customers span defence, space, health, and government sectors.

Industry tailwinds and growth drivers

• Defence, space, and health sectors are experiencing strong growth due to increased spending and technological advancements.

• Defence revenues have grown at a 14% CAGR, reaching $363M in LTM Q2-25.

• Defence exposure: 49% of FY24 revenues, with significant contributions from health and learning segments.

• Global trends include increased defence budgets, aging populations, and focus on preventive healthcare.

Financial performance and execution

• Double-digit revenue (15% CAGR) and adjusted EBITDA (21% CAGR) growth from 2017 to 2024.

• Strategic plan targets $1B in revenues and $125M in adjusted EBITDA by FY26, driven by organic and acquisition growth.

• Recent acquisitions (e.g., AMS, Mabway) have expanded offerings and geographic reach.

• Short-term headwinds in ITCS due to cost pressures and delayed procurement decisions.