Tornado Infrastructure Equipment (TGH) Investor Presentation summary

Financial performance and growth

• 2024 revenue reached $136.9M, up 30.4% YoY, surpassing analyst estimates of $131.6M–$134.9M.

• EBITDAS for 2024 was $15.6M, a 25.7% YoY increase, also exceeding analyst expectations.

• 320 trucks sold in 2024, up from 241 in 2023 (+32.8% YoY).

• Cash position at $4.7M and debt/leases at $5.6M as of December 31, 2024.

• Analyst 2025 revenue estimates range from C$157.7M to C$165.6M, with EBITDA projected at C$18.2M–C$20.4M.

Strategic initiatives and acquisitions

• Completed acquisition of CustomVac in May 2025, adding a 39,000 sq. ft. facility and expanding into environmental and industrial vacuum equipment.

• CustomVac expected to be immediately accretive, with TTM gross profit of $9.6M and asset value of $11.6M as of January 31, 2025.

• New production facility under construction, expected to boost capacity in 2025.

• Strategic supply and co-development agreement with Ditch Witch, minimum deal value $43.9M USD, plus $6M IP payment.

Industry trends and market opportunity

• Global vacuum truck market projected to grow from $2.0B in 2024 to $3.5B by 2032.

• US Infrastructure Bill and Inflation Reduction Act expected to drive significant demand for Hydrovac services.

• Hydrovac excavation is becoming the North American standard for safe urban and critical infrastructure work.