Savaria Q4 2025 Adjusted EBITDA Reaches $51.3M, an increase of 19.7%

Executive Summary

• Savaria reported record Q4 2025 results and strong full‑year performance, with revenue up 8.3% YoY to $241.8 M and FY 2025 revenue up 5.3% to $913.5 M.
• Adjusted EBITDA rose 19.7% YoY in Q4 to $51.3 M and 15.5% for the year to $186.3 M, delivering an adjusted EBITDA margin of 20.4% (up 180 bps).
• Net debt fell to $191.5 M from $262.7 M, improving the net‑debt‑to‑adjusted‑EBITDA ratio to 1.03, providing capacity for strategic acquisitions.

Key Details

• Q4 2025 Highlights
• Revenue: $241.8 M (+$18.4 M, +8.3%).
• Operating income: $29.7 M (+$8.0 M, +36.6%), margin 12.3% vs 9.7% in Q4 2024.
• Adjusted EBITDA: $51.3 M (+$8.4 M, +19.7%); adjusted EBITDA margin 21.2% (up 200 bps).
• Accessibility segment revenue: $183.4 M (+7.7%).

• Patient Care segment revenue: $58.3 M (+10.0%).

• Full‑Year FY 2025 Highlights

• Revenue: $913.5 M (+$45.8 M, +5.3%).
• Gross profit: $353.8 M (+$32.1 M, +10.0%), margin 38.7% (up 160 bps).
• Operating income: $105.4 M (+$21.2 M, +25.2%), margin 11.5% vs 9.7% in 2024.
• Net earnings: $68.8 M ($0.95 per share) vs $48.5 M ($0.68) in 2024.

• Adjusted EBITDA: $186.3 M (+$25.0 M, +15.5%); margin 20.4% (up 180 bps).

• Liquidity & Capital Resources

• Cash from operations FY 2025: $138.1 M.
• Net debt as of Dec 31 2025: $191.5 M, down from $262.7 M; net‑debt/adjusted‑EBITDA = 1.03 (vs 1.63).

• Available funds: $311.7 M for working capital, investments and growth opportunities.

• Acquisitions & Divestitures

• Acquired Western Elevator Ltd.; contributed ~0.6% revenue growth in Q4.

• FY‑wide acquisition impact (Western + Matot) ≈ 0.7% net growth; partially offset by divestitures of Van‑Action and Freedom Motors.

• Strategic Outlook

• Completion of the “Savaria One” transformation program; focus now on accelerating growth, expanding market opportunities, and deepening customer relationships.

• Investor Day scheduled for April 2026 to provide detailed guidance for upcoming fiscal years.

• ESG Disclosure

• Published 2025 ESG Report on March 4 2026, outlining sustainability initiatives and performance.

• Conference Call

• Results webcast & conference call held March 5 2026 at 8:30 a.m. EST; replay available on the company website.

Notable Quotes

“Our two‑year transformation program – Savaria One – finished at the end of 2025 and our goals were largely met… We move into 2026 with a stronger team than ever.” – Sébastien Bourassa, President & CEO

“The results helped us reduce our net debt‑to‑adjusted EBITDA ratio to 1.03, giving us ample room for strategic acquisitions.” – Marcel Bourassa, Executive Chairman