Latest news with #HadiAbassi
Cision Canada
4 days ago
- Business
- Cision Canada
Atlas Engineered Products Announces Acquisition of Truss-Worthy Construction Systems Inc. in Ontario, Canada
, June 2, 2025 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) announced today that the Company has completed the acquisition of Truss-Worthy Construction Systems Inc. ("Truss-Worthy") located in Colborne, Ontario, Canada. Truss-Worthy is a manufacturer of roof trusses and a supplier of engineered wood products ("EWP"). "I am excited to announce the acquisition of our 9 th manufacturing facility, especially with the strategic positioning it brings in combination with the 42 acres we purchased in December 2024. This acquisition links another piece to our national footprint with coverage on the Eastern side of Toronto," said Hadi Abassi, CEO, President and Founder of the Company. "Truss-Worthy fits nicely into our overall, long term strategic plan and we are excited to have this location join the AEP group of companies. The Company is also still anticipating closing an acquisition in Western Canada and will maintain a disciplined approach to acquiring new manufacturing facilities that fit our long-term goals." The acquisition of Truss-Worthy was completed effective May 30 th, 2025. To acquire all the issued and outstanding shares of Truss-Worthy, the Company paid a purchase price of $1.575 million with a working capital adjustment to be determined and finalized within 90 days of closing date of the SPA. Additionally, the Company is acquiring the land and buildings from the current landlord on which Truss-Worthy's facilities are located for a purchase price of $850,000. The purchase price for the business operations and the land and building was paid for with cash. Unaudited fiscal year ended January 31, 2025, Truss-Worthy generated just over $2 million in revenues, net income of over $300,000 and non-IFRS measure normalized EBITDA of approximately $355,000 (see "Non-GAAP/Non-IFRS Financial Measures"). The three-year average non-IFRS measure normalized EBITDA was approximately $730,000, resulting in a 2.16x EBITDA for the business operations, excluding the land and buildings. Moving forward, the Company anticipates being able to bring its considerable operating synergies and material buying power to Truss-Worthy's operations as well as the significant expansion possibilities. This acquisition is a small location but aligns with the Company's strategic acquisition plan and links the Company's geographical footprint with the purchase of 42 acres at 281 Purdy Road in Colborne, Ontario announced in December 2024. This strategic acquisition allows the Company to develop the market and gain customer relationships in the area ahead of further potential development at the 42-acre property. Development of the 42-acre property will greatly expand the geographical reach of the Company in the surrounding area, provinces, and the United States. Non-GAAP / Non-IFRS Financial Measures Certain financial measures in this news release do not have any standardized meaning under IFRS and, therefore are considered non-IFRS or non-GAAP measures. These non-IFRS measures are used by management to facilitate the analysis and comparison of period-to-period operating results for AEP and to assess whether AEP's operations are generating sufficient operating cash flow to fund working capital needs and to fund capital expenditures. As these non-IFRS measures do not have any standardized meaning under IFRS, these measures may not be comparable to similar measures presented by other issuers. The non-IFRS measures used in this news release may include "EBITDA", "EBITDA margin", "adjusted EBITDA", "adjusted EBITDA margin", "normalized EBITDA" and "normalized EBITDA margin". For a description of the composition of these measures, please refer to AEP's Management's Discussion and Analysis for the three months ended March 31, 2025 under "Non-IFRS / Non-GAAP Financial Measures", available on AEP's website at or on SEDAR+ at About Atlas Engineered Products Ltd. AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new automated technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators. Company contact details: Hadi Abassi, CEO & President, Founder Atlas Engineered Products Ltd. Email: [email protected] 250-754-1400 PO Box 37036 Country Club PO Nanaimo, BC V9T 6N4 FORWARD LOOKING INFORMATION Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Although AEP believes that the expectations reflected in the forward looking statements are reasonable, there is no assurance that such expectations will prove to be correct, or that such future events will occur in the disclosed time frames or at all. AEP cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond AEP's control. Such factors include, among other things: risks and uncertainties related to the housing market, changes in interest rates and other risks and uncertainties relating to AEP, including those described in the Management's Discussion and Analysis ("MD&A") for AEP's three months ended March 31, 2025. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, AEP undertakes no obligation to publicly update or revise forward-looking information. SOURCE Atlas Engineered Products Ltd.
Cision Canada
27-05-2025
- Business
- Cision Canada
Atlas Engineered Products Reports First Quarter 2025 Financial and Operating Results, Including YoY Revenue Increase of 21%
, May 27, 2025 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce its financial and operating results for the three months ended March 31, 2025. All amounts are presented in Canadian dollars. Financial and Operating Highlights Revenue of $11M, representing an increase of 21% year-over-year Wall Panel revenue increased by 42% year-over-year Engineered Wood Products revenue increased by 30% year-over-year Adjusted EBITDA of $586,666, representing an increase of 137% year-over-year Hadi Abassi, President and CEO of AEP, commented: "I continue to be proud and impressed with the effort and results that the team at AEP have accomplished. Despite the housing start statistics and convoluted political and economic climates, the Company delivered a 21% increase in revenue over last year and worked diligently to drive organic growth in wall panels and engineered wood products, in addition to increasing production on roof trusses. I am encouraged by the start of 2025 to continue our organic growth initiatives across Canada and strategic acquisitions that will further strengthen our geographical footprint." Revenue for the three months ended March 31, 2025 was $11,010,715 compared to revenue of $9,121,059 for the three months ended March 31, 2024. Revenue has increased due to significant progress on the integration of LCF. LCF increased revenues by 56% compared to the prior year through organic growth by expanding into the wood frame commercial building market. Additionally, the Company has seen a 30% increase in engineered wood product sales for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The Company has been able to expand its supply of engineered wood products to the multi-family building sector due to the expansion of our salesforce, skill of our design team, and buying power with our national supplier. Gross margin remained consistent at 16% for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The Company generally sees lower margins during the first fiscal quarter when the seasonality of the construction industry is the worst. The Company needs to maintain key skilled labour even though revenues are typically lower than during the rest of the year. Additionally, the quieter first quarter is the best time to perform maintenance and repairs on all vehicles and manufacturing equipment to ensure the best efficiency and reduce downtime during the busier construction season in summer and fall. Net loss after taxes was $846,331 for the three months ended March 31, 2025 compared to net loss after taxes of $993,436 for the three months ended March 31, 2024. Net loss after taxes has reduced compared to the prior period due to the increase in revenues. The change was offset a bit by non-cash items such as depreciation and amortization and share-based payments which resulted in an increase in operating expenses. These amounts are added back for adjusted and normalized EBITDA. Non-IFRS measure adjusted EBITDA for the three months ended March 31, 2025 was $586,666 with an adjusted EBITDA margin of 5%. Adjusted EBITDA for the three months ended March 31, 2024 was $247,738 with an adjusted EBITDA margin of 3%. These increases were mainly due to increased sales. While net loss for the period did not increase at the same rate, this was due to non-cash items of depreciation and amortization and share-based payments, which are added back for adjusted EBITDA. Selected Financial Results Outlook for 2025 The Company is continuing to see strong quoting volumes in comparison to 2024, previously reporting a 25% increase in quoting volume year over year. With an additional month completed, the Company sees this trend continuing as the first four months of 2025 resulted in a 29% increase in quoting volume compared to the first four months of 2024. Orders have remained stagnant with small increases for the first four months. However, since the federal election in Canada has concluded, the Company has seen significantly more orders being placed and looks forward to this trend continuing with further political and economic stability, along with strong government support of the construction industry. AEP continues to work at delivering organic growth through increased wall panel manufacturing and supply of engineered wood products. This organic growth will continue to help insulate the Company to potential effects of a recession by allowing for increased sales volume potential per order. While industry volumes are largely driven by macroeconomic and political factors beyond the Company's control, AEP will leverage its scale, agility and strong balance sheet to further gain market share. The Company plans to build capacity during the busy construction season by adding automation and completing projects ahead in the winter months. As of March 31, 2025, finished goods and inventories have increased compared to December 31, 2024, due to this strategy. Projects built in the first quarter will be shipped in the second and third quarters when locations are typically at full production capacity and would have difficulties finding enough labour to handle a significant increase. AEP believes that the future of the industry will be in significantly automated manufacturing facilities that can produce higher volumes at a lower cost. The new automation facility in Ontario is continuing with the completion of the steel framing and commencement of cladding for the facility. The building is still anticipated to be completed later in 2025. In addition to the Company's organic growth strategies, the Company is evaluating acquisition opportunities across North America. In September, the Company announced due diligence completion for a future acquisition in Western Canada which was anticipated to close in early Spring of 2025. This closing is still anticipated for Spring of 2025. Conference Call AEP will host a conference call to discuss the results today, May 27, 2025 at 11:00am EST (8:00am PST). The call will be hosted by Hadi Abassi, CEO & President, Founder, and Melissa MacRae, CFO. Details to join this conference call are below. Date: Tuesday, May 27, 2025 Time: 11:00am EST (8:00am PST) Webinar Link: Uto2fU4WDv Meeting ID: 286 831 885 522 3 Passcode: ha9sM76k Non-GAAP / Non-IFRS Financial Measures Certain financial measures in this news release do not have any standardized meaning under IFRS and, therefore are considered non-IFRS or non-GAAP measures. These non-IFRS measures are used by management to facilitate the analysis and comparison of period-to-period operating results for AEP and to assess whether AEP's operations are generating sufficient operating cash flow to fund working capital needs and to fund capital expenditures. As these non-IFRS measures do not have any standardized meaning under IFRS, these measures may not be comparable to similar measures presented by other issuers. The non-IFRS measures used in this news release may include "EBITDA", "EBITDA margin", "adjusted EBITDA", "adjusted EBITDA margin", "normalized EBITDA" and "normalized EBITDA margin". For a description of the composition of these measures, please refer to AEP's Management's Discussion and Analysis for the three months ended March 31, 2025 under "Non-IFRS / Non-GAAP Financial Measures", available on AEP's website at or on SEDAR at About Atlas Engineered Products Ltd. AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators. Company contact details: Hadi Abassi, CEO & President, Founder Atlas Engineered Products Ltd. Email: [email protected] 250-754-1400 PO Box 37036 Country Club PO Nanaimo, BC V9T 6N4 FORWARD LOOKING INFORMATION Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Although AEP believes that the expectations reflected in the forward looking statements are reasonable, there is no assurance that such expectations will prove to be correct, or that such future events will occur in the disclosed time frames or at all. AEP cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond AEP's control. Such factors include, among other things: risks and uncertainties related to the housing market, changes in interest rates and other risks and uncertainties relating to AEP, including those described in the Management's Discussion and Analysis ("MD&A") for AEP's three months ended March 31, 2025. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, AEP undertakes no obligation to publicly update or revise forward-looking information. SELECTED FINANCIAL INFORMATION Except as noted below, the financial information provided in this news release is derived from the AEP's audited financial statements for the three months ended March 31, 2025 and the related notes thereto as prepared in accordance with International Financial Reporting Standards ("IFRS") and related IFRS Interpretations Committee ("IFRICs") as issued by the International Accounting Standards Board ("IASB"). A copy of AEP's financial statements for the three months ended March 31, 2025 and the related Management's Discussion and Analysis is available on AEP's website at or on SEDAR at Financial information for AEP's acquisitions are included in AEP's unaudited financial statements from the date of acquisition. Financial information for acquired businesses for periods prior to the date of acquisition were prepared by management and have not been reviewed or audited by independent auditors. SOURCE Atlas Engineered Products Ltd.
Cision Canada
21-05-2025
- Business
- Cision Canada
Atlas Engineered Products Announces Q1 2025 Financial Results Conference Call
TSX.V: AEP OTC: APEUF NANAIMO, BC, May 21, 2025 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce that the Company will issue a news release regarding its financial results for the three months ended March 31, 2025, before markets open on Tuesday, May 27, 2025. AEP will host a conference call to discuss the results on May 27, 2025, at 11:00am EST (8:00am PST). The call will be hosted by Hadi Abassi, CEO & President, Founder, and Melissa MacRae, CFO. Related earnings release materials will be available on the Company's SEDAR+ profile at and the Company's website at Webinar Details: Date: Tuesday, May 27, 2025 Time: 11:00am EST (8:00am PST) Webinar Link: Meeting ID: 286 831 885 522 3 Passcode: ha9sM76k About Atlas Engineered Products Ltd. AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new automated technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. SOURCE Atlas Engineered Products Ltd.
Yahoo
21-05-2025
- Business
- Yahoo
Atlas Engineered Products Announces Q1 2025 Financial Results Conference Call
TSX.V: AEP OTC: APEUF NANAIMO, BC, May 21, 2025 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce that the Company will issue a news release regarding its financial results for the three months ended March 31, 2025, before markets open on Tuesday, May 27, 2025. AEP will host a conference call to discuss the results on May 27, 2025, at 11:00am EST (8:00am PST). The call will be hosted by Hadi Abassi, CEO & President, Founder, and Melissa MacRae, CFO. Related earnings release materials will be available on the Company's SEDAR+ profile at and the Company's website at Webinar Details: Date: Tuesday, May 27, 2025 Time: 11:00am EST (8:00am PST) Webinar Link: Meeting ID: 286 831 885 522 3 Passcode: ha9sM76k About Atlas Engineered Products Ltd. AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new automated technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. SOURCE Atlas Engineered Products Ltd. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
25-04-2025
- Business
- Cision Canada
Atlas Engineered Products Reports Fourth Quarter and Year Ended 2024 Financial and Operating Results, Including YoY Revenue Increases of 6% in Q4 and 13% Annual
, April 25, 2025 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2024. All amounts are presented in Canadian dollars. Financial and Operating Highlights Revenue of $55.8M, representing an increase of 13% year-over-year Wall Panel revenue increased by 159% year-over-year Engineered Wood Products revenue increased by 21% year-over-year Adjusted EBITDA of $8.5M, despite costs of $645K associated with automation and expansion of the management and sales team Strong balance sheet with cash of $13M, long-term debt of $21M, and real estate net carrying value of $15M, without recent appraisals. Hadi Abassi, President and CEO of AEP, commented: "I am proud of the effort and results that the team at AEP has accomplished. Total housing starts in Ontario and BC, two key markets for the Company, declined by double digit percentages, 2024 over 2023. Despite the housing start statistics, the Company has produced a 15% adjusted EBITDA margin and worked diligently to drive organic growth in wall panels and engineered wood products. I am encouraged by the start of 2025 to continue our organic growth efforts across Canada and strategic acquisitions that will further strengthen our geographical footprint." Revenue for the three and twelve months ended December 31, 2024 was $15,069,615 and $55,828,723 compared to revenue of $14,197,425 and $49,413,675 for the three and twelve months ended December 31, 2023, representing a 6% and 13% increase, respectively. Revenue has increased due to acquisitive growth and organic growth – two key strategies of the Company. The year ended December 31, 2024 was the first full year that included results from LCF, a strategic acquisition that closed on August 23, 2023. LCF increased revenues for fiscal 2024 by almost 45% in addition to adding significant wall panel production to the Company and knowledge for the entire group. Organic growth in wall panels was 27% and 159% for the three and twelve months ended December 31, 2024, respectively, compared to the three months ended December 31, 2023, these results included LCF in full for both periods. Gross profit for the three and twelve months ended December 31, 2024 was $3,591,777 and $4,084,663 compared to $3,046,448 and $4,258,301 for the three and twelve months ended December 31, 2023, representing an 18% increase and 0.1% decrease, respectively. Gross profits increased for the three months ended December 31, 2024 due to an increase in sales and an improvement in gross margin of 3% over the prior period. Net loss after taxes was $212,128 for the year ended December 31, 2024 compared to net income after taxes of $3,149,838 for the year ended December 31, 2023. This decrease was primarily due to a more competitive market for sales that resulted in lower margins, as well as, increased costs related to future sales and robotics plans that will require significant expansion in sales teams, management, and support staff. Additionally, the Company recognized an impairment loss of $1,484,952 due to the write off of the vendor deposit as required under IFRS. Non-IFRS measure adjusted EBITDA for the year ended December 31, 2024 was $8,499,458 compared to $9,298,310 in adjusted EBITDA for the year ended December 31, 2023. This does not include any adjustment for costs associated with future automation and expansion of the management and sales team of $645,000. Selected Financial Results ANNUAL SELECTED FINANCIAL RESULTS Year Ended Dec 2024 Dec 2023 Revenue $55,828,723 $49,413,675 Cost of Sales 42,282,238 35,854,858 Gross Profit 13,546,485 13,558,817 Gross Margin % 24 % 27 % Operating Expenses 10,649,618 8,294,053 Operating Income 2,896,867 5,264,764 Net (Loss) Income After Adjustments and Taxes (212,128) 3,149,838 Adjusted EBITDA 8,499,458 9,298,310 Adjusted EBITDA Margin % 15 % 19 % Normalized EBITDA 8,524,374 9,928,857 Normalized EBITDA Margin % 15 % 20 % Weighted Average Number of Shares 65,056,625 58,101,219 Adjusted EBITDA per Share ($ per share) 0.13 0.16 (Loss) Income per Share, Basic ($ per share) 0.00 0.05 (Loss) Income per Share, Fully Diluted ($ per share) 0.00 0.05 Selected Financial Information as at: Dec 2024 Dec 2023 Total Assets $80,254,197 $79,443,699 Total Non-Current Liabilities 23,882,711 37,089,753 Outlook for 2025 The Company is continuing to see strong quoting volumes in comparison to 2024. For the first three months of 2025, the Company saw a 25% increase in quoting volume and a 4% increase in orders compared to the same period last year. The Company anticipates higher quote to order conversion as winter comes to an end and the typically busier building season commences. The Company does continue to actively monitor economic policy developments related to the long-standing Canada and U.S. trade relationship and if those developments are anticipated to impact the Company in 2025. The Company reiterates that in the past four years, 1% or less of its revenues have come from sales outside of Canada. AEP continues to work at delivering organic growth through increased wall panel manufacturing and supply of engineered wood products. This organic growth would help insulate the Company to potential effects of a recession by allowing for increased sales volume potential per order. While industry volumes are largely driven by macroeconomic and political factors beyond the Company's control, AEP will continue to leverage its scale, agility and strong balance sheet to further gain market share. In addition to the Company's organic growth strategies, the Company continues to assess acquisition opportunities across North America. In September, the Company announced due diligence completion for a future acquisition in Western Canada which was anticipated to close in early Spring of 2025. This closing is still anticipated for Spring of 2025. The Company is also assessing additional opportunities to enhance its geographical footprint, manufacturing capabilities, and industry knowledge. AEP has a robust pipeline of very attractive deals, now that the industry has normalized from the high lumber prices and demand during the Covid-19 pandemic. This provides an opportunity for significant value creation for shareholders over the medium to long-term. AEP believes that the future of the industry will be in robotic manufacturing and the new facility in Ontario is continuing with the completion of excavation and foundation work and the start of the steel framing for the facility. The building is anticipated to be completed later in 2025. Conference Call AEP will host a conference call to discuss the results today, April 25, 2025 at 11:00am EST (8:00am PST). The call will be hosted by Hadi Abassi, CEO & President, Founder, and Melissa MacRae, CFO. Details to join this conference call are below. Date: Friday, April 25, 2025 Time: 11:00am EST (8:00am PST) Webinar Link: Meeting ID: 286 831 885 522 3 Passcode: ha9sM76k Non-GAAP / Non-IFRS Financial Measures Certain financial measures in this news release do not have any standardized meaning under IFRS and, therefore are considered non-IFRS or non-GAAP measures. These non-IFRS measures are used by management to facilitate the analysis and comparison of period-to-period operating results for AEP and to assess whether AEP's operations are generating sufficient operating cash flow to fund working capital needs and to fund capital expenditures. As these non-IFRS measures do not have any standardized meaning under IFRS, these measures may not be comparable to similar measures presented by other issuers. The non-IFRS measures used in this news release may include "EBITDA", "EBITDA margin", "adjusted EBITDA", "adjusted EBITDA margin", "normalized EBITDA" and "normalized EBITDA margin". For a description of the composition of these measures, please refer to AEP's Management's Discussion and Analysis for the year ended December 31, 2024 under "Non-IFRS / Non-GAAP Financial Measures", available on AEP's website at or on SEDAR at About Atlas Engineered Products Ltd. AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators. Company contact details: Hadi Abassi, CEO & President, Founder Atlas Engineered Products Ltd. Email: [email protected] 250-754-1400 PO Box 37036 Country Club PO Nanaimo, BC V9T 6N4 FORWARD LOOKING INFORMATION Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Although AEP believes that the expectations reflected in the forward looking statements are reasonable, there is no assurance that such expectations will prove to be correct, or that such future events will occur in the disclosed time frames or at all. AEP cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond AEP's control. Such factors include, among other things: risks and uncertainties related to the housing market, changes in interest rates and other risks and uncertainties relating to AEP, including those described in the Management's Discussion and Analysis ("MD&A") for AEP's year ended December 31, 2024. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, AEP undertakes no obligation to publicly update or revise forward-looking information. SELECTED FINANCIAL INFORMATION Except as noted below, the financial information provided in this news release is derived from the AEP's audited financial statements for the year ended December 31, 2024 and the related notes thereto as prepared in accordance with International Financial Reporting Standards ("IFRS") and related IFRS Interpretations Committee ("IFRICs") as issued by the International Accounting Standards Board ("IASB"). A copy of AEP's financial statements for the year ended December 31, 2024 and the related Management's Discussion and Analysis is available on AEP's website at or on SEDAR at Financial information for AEP's acquisitions are included in AEP's unaudited financial statements from the date of acquisition. Financial information for acquired businesses for periods prior to the date of acquisition were prepared by management and have not been reviewed or audited by independent auditors. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. SOURCE Atlas Engineered Products Ltd.
