ADF Group Inc Q3 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nicholas Cortellucci - Atrium Research - Analyst : Good Morning JF and Jean. How's it going? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 12, 2024 / 3:00PM, DRX.TO - Q3 2025 ADF Group Inc Earnings Call Doing well. I guess the first question here, I think the backlog has been in everyone's focus over the last two quarters here. So are you guys confident you'll be able to sign some new contracts over the coming months and again, post another year of growth in fiscal 2026? Or what should we be expecting?

Question: Nicholas Cortellucci - Atrium Research - Analyst : SP-4 Understood. Okay. And then the second question here, I was looking into your guys' history a bit. And I think the last NCIB was in 2016. So maybe give us a bit more rationale on why you guys got that approved. Mainly the valuation, I'd imagine, I have you guys at 3 times EBITDA, taking advantage of that going into the new year?

Question: Nicholas Cortellucci - Atrium Research - Analyst : Great. Okay. And then I guess the last question here, mostly on margin. So about 35% of the backlog is fabrication hours now. So how should we look at margins going into Q4 and fiscal 2025, are these levels still pretty realistic what we saw in Q3. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 12, 2024 / 3:00PM, DRX.TO - Q3 2025 ADF Group Inc Earnings Call

Question: Nicholas Cortellucci - Atrium Research - Analyst : Understood. Yes. No, that makes sense. Yeah, those are the only questions I have. Thanks for the time guys and, and happy holidays.