ADF Group (DRX) AGM 2024 Presentation summary

meeting overview

• Annual General Meeting held June 11, 2024, in Laval, QC, covering fiscal year ended January 31, 2024.

• Agenda included financial statements, election of directors, auditor appointment, management report, and Q&A.

• Directors elected include Jean Paschini, Pierre Paschini, Marise Paschini, Jean Rochette, Guy Pelletier, Danilo D'Aronco, Myriam Blouin, and Richard Martel.

strategic investments and operations

• $125M invested over 15 years in plant expansions, modernization, and new facilities in Canada and the US.

• $30M dedicated to robotization, making ADF a North American pioneer in automated steel fabrication.

• $7M invested in sustainability, including LED lighting, HVAC upgrades, EV charging, and a Sustainable Development Committee.

• Focus on talent retention: competitive compensation, 5-year union agreement, internal training, and safety culture.

financial performance (fiscal year ended jan 31, 2024)

• Revenue rose 32% to $331M; net income up 152% to $37.6M; gross margins up 105%.

• Order backlog reached $510.9M, up 35.7%, mainly from large industrial and public infrastructure projects.

• Cash on hand increased by $65.2M; working capital up 68% to $110.1M.

• Shareholders' equity up 30% to $162.1M; book value per share at $4.97.

• Total indebtedness at $48.8M, representing 30% of equity; cash exceeds debt.