Firan Technology Group (FTG) Investor presentation summary

Market overview and growth

• Revenue reached $191M in 2025, with a 4-year CAGR of approximately 25%.

• Adjusted EBITDA for 2025 was $32M, and exit backlog stood at $148M.

• Aerospace and defence markets are experiencing strong demand, with commercial aircraft deliveries and defence budgets rising.

• New program wins and global expansion, including recent greenfield projects and acquisitions, are driving growth.

• FTG's growth consistently exceeds industry averages, supported by a global footprint and diversified product portfolio.

Financial performance and capital structure

• Gross margin and adjusted EBITDA have grown at 37% and 35% CAGRs, respectively, from 2021 to 2025.

• Net debt is approximately $4M, with $12.8M in cash and short-term investments as of Q1 2026.

• Working capital remains strong, and low debt levels support future investments.

• Capital allocation focuses on organic investment, acquisitions, debt reduction, and share buybacks.

• 616,400 shares have been repurchased since 2022 under the NCIB program.

Strategic initiatives and operations

• Strategic priorities include expanding technology, geography, and capacity, and pursuing high-margin business.

• Ten acquisitions or greenfield operations have been completed in the past 15 years.

• Recent acquisition of FLYHT (now FTG Aerospace Calgary) adds Satcom, WQAR, and weather data products, with recurring revenue streams.

• Integration of acquired sites aims to reduce costs, shield profits, and leverage tax losses.

• Future M&A targets are aligned with market focus, technology expansion, and geographic diversification, especially in Europe and India.