Strategic Provider of End-to-End Automation Solutions
Positioned for Continued Strong Growth
Leverage Managed in the Context of Significant M&A
3.5x
3.0x
Target
2.5x
Range
2.0x
1.5x
1.0x
0.5x
Net Debt to Adj EBITDA(1) Trend
iX LOG
Unternehmensberatung GmbH
MARCO
INDUSTRIAL
AUTOMATION
PARTNERS
a PA Company
inimc
CFT BIO DOT
LEADERS
INNOVATE
cim
FAC
AATS COMPANY
SP DF HSG
US IPO
NC-C
NCC AUTOMATED SYSTEMS
IPCOS
Odyssey
Validation Compliance
ARGUS
TRIAD
UNLIMITED
yazzeom
•
•
•
PA Compens
•
ATS
Leverage Framework
Willing to temporarily exceed
for the right target
Target must meet ATS' strict
and consistent acquisition
criteria
Demonstrated history of
effective use of balance sheet
to drive key acquisitions
Balance Sheet Highlights
$795 million cash and
unutilized multipurpose credit
at October 1, 2023
0.0x
2020
2021
2022
2023
2024
.
Leverage Target 2.0 - 3.0x
•
Non-cash Working Capital % of
Revenue¹ Target <15%
(1) Net Debt to Adjusted EBITDA and Non-Cash Working Capital as a % of revenues are Non-IFRS ratios. Please see "Non-IFRS and Other Financial Measures" and "Appendix: Reconciliation of Non-
IFRS Measures to IFRS Measures.
15
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