Savaria (SIS) Q4 2025 earnings summary

Executive summary

• Achieved record Q4 adjusted EBITDA of CAD 51.3 million at a 21.2% margin, up nearly 20% year-over-year, marking the best quarter ever.

• Full-year sales reached CAD 913.5 million with adjusted EBITDA of CAD 186.3 million at a 20.4% margin, both all-time highs.

• The Savaria One transformation program drove sustainable operational improvements, cultural change, and profitability.

• Growth was realized across all business areas, with significant contributions from North America and Europe.

• Investments in people, processes, and products supported operational improvements.

Financial highlights

• Q4 consolidated revenues were CAD 241.8 million, up 8.3% year-over-year, with 5.2% organic growth and 2.5%-2.7% positive FX impact.

• Gross profit increased 10% to CAD 353.8 million, representing 38.9% of revenue, up 160 bps.

• Operating income for 2025 was CAD 105.4 million, up 25.2%; Q4 operating income rose 36.6%.

• Net earnings for 2025 were CAD 68.8 million, up 41.8% year-over-year; Q4 net earnings were CAD 20.5 million, up 43%.

• Adjusted EBITDA for 2025 was CAD 186.3 million (20.4% margin), up 15.5%; Q4 adjusted EBITDA was CAD 51.3 million (21.2% margin), up 19.7%.

Outlook and guidance

• Entering 2026 with strong momentum and at least 100 new initiatives planned under Savaria One.

• Management expects continued margin improvement and sustainable growth, with further details to be shared at the April Investor Day.

• CapEx for 2026 expected to be 2.5%-3% of sales, returning to 2%-2.5% in 2027.

• Focus remains on continuous improvement and operational excellence post-Savaria One.

• No short-term guidance provided; focus is on mid- to long-term targets.