Q4 2025 Foraco International SA Earnings Call Transcript
Key Points
- Foraco International SA (FRACF) reported a record order book of $404 million as of December 31, 2025, with $228 million expected to be completed in 2026.
- The company saw significant growth in virtually all regions, with South America revenue increasing by 95% year over year in Q4 2025.
- Foraco International SA (FRACF) has increased its exposure to gold, which now represents over 35% of its order book for 2026.
- The company has maintained a disciplined approach to market transitions, allowing it to tender new projects at improved commercial terms.
- Foraco International SA (FRACF) has a strong focus on operational discipline and has the capacity and flexibility to meet growing market demand.
- Q4 2025 EBITDA was flat year over year at $10 million, impacted by new contract commencements and seasonal effects.
- Full year 2025 revenue decreased to $258 million from $293 million in 2024, with EBITDA margin dropping from 21% to 18%.
- North America revenue decreased by 13% in Q4 2025 due to the completion and deferral of certain Canadian contracts.
- The company experienced increased depreciation costs linked to significant CapEx for long-term contracts, impacting gross margin.
- Labor markets are tightening across all regions, which is expected to lead to higher labor costs over time.
(Operation Instructions)
Good morning, ladies and gentlemen, and welcome to the Ferrao Fourth Quarter 2025 earnings conference call. This call is being recorded on Monday, March 2, 2026. I would now like to turn the conference over to Tim Bremner. Please go ahead.
Thanks, Joanna, and good morning, everyone.
Thank you for joining us today to discuss Faraka's results for the 4th quarter and full year ending December 30th, 2025. Joining me on the call is Fabian Sylvest, our Chief Financial Officer, who will walk you through the financial results and key drivers.
Before we begin, please note that our comments today may include forward-looking statements which are subject to risk and uncertainties.
Now turning to the highlights.
Q4 2025 revenue was $66 million excluding adverse foreign exchange compared to $61 million in Q4 2024, an 8% increase. EBITDA was essentially flat year over year at $10 million and was impacted by the commencement of new
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