TAIGA (TBL) REPORTS MODEST SALES AND MARGIN GAINS IN THE THIRD QUARTER

TAIGA (TBL) REPORTS MODEST SALES AND MARGIN GAINS IN THE THIRD QUARTER Canada NewsWire BURNABY, BC, Nov. 7, 2025 BURNABY, BC, Nov. 7, 2025 /CNW/ - Taiga Building Products Ltd. ("Taiga" or the "Company") today reported its financial results for the three and nine months ended September 30, 2025 and 2024. Third Quarter Ended September 30, 2025 Earnings Results The Company's sales for the quarter ended September 30, 2025 were $431.3 million compared to $423.9 million over the same period last year. The increase in sales by $7.4 million or 2% was largely due to a higher average lumber pricing as well as changes in product mix during the quarter. Gross margin for the quarter ended September 30, 2025 increased to $48.2 million from $45.5 million over the same period last year. Gross margin percentage was 11.2% for the three months ended September 30, 2025 compared to 10.7% over the same period last year. The increase in gross margin dollars was primarily driven by the increased net sales. Net earnings for the quarter ended September 30, 2025 decreased to $12.8 million from $14.3 million over the same period last year primarily due to increases in selling and administrative expenses and interest costs from renewed borrowing under Taiga's credit facility, as a result of the dividends paid out in the second quarter. EBITDA for the quarter ended September 30, 2025 was $21.8 million compared to $21.5 million for the same period last year.  Nine Months Ended September 30, 2025Earnings Results The Company's consolidated net sales for the nine months ended September 30, 2025 were $1,272.2 million compared to $1,245.3 million over the same period last year. The increase in sales by $26.8 million or 2% was largely due to a change in product mix. Gross margin for the nine months ended September 30, 2025 increased to $134.9 million from $132.0 million over the same period last year. Net earnings for the nine months ended September 30, 2025 decreased to $37.7 million from $41.0 million over the same period last year primarily due to increases in selling and administrative expenses as well as higher interest expense due to renewed use of the Company's credit facility. EBITDA for the nine months ended September 30, 2025 was $62.1 million compared to $64.0 million for the same period last year. Condensed Consolidated Statement of Earnings For the Three Months Ended September 30, (in thousands of Canadian dollars, except for per share amounts) 2025 2024 Sales 431,276 423,886 Gross margin 48,215 45,544 Distribution expense 7,916 8,151 Selling and administration expense 21,882 19,169 Finance expense 1,685 3 Other income (30) (109) Earnings before income taxes 16,762 18,330 Income tax expense 3,953 3,999 Net earnings 12,809 14,331 Net earnings per share(1) 0.12 0.13 EBITDA(2) 21,780 21,497 The following is the reconciliation of net earnings to EBITDA: September 30, (in thousands of Canadian dollars) 2025 2024 Net earnings 12,809 14,331 Income tax expense 3,953 3,999 Finance and subordinated debt interest expense 1,685 3 Amortization 3,333 3,164 EBITDA 21,780 21,497 For the Nine Months Ended September 30, (in thousands of Canadian dollars, except for per share amounts) 2025 2024 Sales 1,272,184 1,245,340 Gross margin 134,934 132,009 Distribution expense 24,113 24,605 Selling and administration expense 58,930 53,183 Finance expense 2,650 202 Other income (235) (183) Earnings before income taxes 49,476 54,202 Income tax expense 11,771 13,177 Net earnings 37,705 41,025 Net earnings per share(1) 0.35 0.38 EBITDA(2) 62,052 64,037 The following is the reconciliation of net earnings to EBITDA: September 30, (in thousands of Canadian dollars) 2025 2024 Net earnings 37,705 41,025 Income tax expense 11,771 13,177 Finance and subordinated debt interest expense 2,650 202 Amortization 9,926 9,634 EBITDA 62,052 64,037 Notes: (1)  Earnings per share is calculated using the weighted average number of shares. (2)  Reference is made above to EBITDA, which represents earnings before interest, taxes, and amortization. As there is no generally accepted method of calculating EBITDA, the measure as calculated by Taiga might not be comparable to similarly titled measures reported by other issuers. EBITDA is presented as management believes it is a useful indicator of a company's ability to meet debt service and capital expenditure requirements and because management interprets trends in EBITDA as an indicator of relative operating performance. EBITDA should not be considered by an investor as an alternative to net income or cash flows as determined in accordance with IFRS. For the disclosure of the manner in which EBITDA is calculated and reconciliation to net earnings refer to the "EBITDA" section of the Company's management's discussion and analysis which will be available shortly on SEDAR+ at www.sedarplus.ca. The foregoing selected financial information is qualified in its entirety by and should be read in conjunction with our unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2025, and accompanying notes and management's discussion and analysis which will be available shortly on SEDAR+ at www.sedarplus.ca. SOURCE Taiga Building Products Ltd. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2025/07/c5066.html Contact: For further information regarding Taiga, please contact: Mark Schneidereit-Hsu, CFO and VP, Finance & Administration, Tel: 604.438.1471, Email: [email protected]