RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%
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Driven by construction contracts and services, ATS’ (TSX: ATS) FY24 revenue surges nearly 18%
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Highlights
ATS Automation Tooling Systems Inc (TSX: ATS) is a Canadian firm specialising in automation systems. It is dedicated to designing and constructing tailored automated manufacturing and testing systems for clients, offering pre-and post-automation services. Predominantly, the company derives its revenue from the European and North American markets. Its market capitalization stands at CAD 4.70 billion.
In FY24, ATS recorded a significant 17.7% surge in revenue, reaching CAD 3,032.8mn compared to FY23. This increase was primarily attributed to elevated revenues from construction contracts and services. Consequently, the company saw a remarkable 41.8% rise in earnings from operations, which was partially offset by increased operating expenses. Further, income before income tax witnessed a substantial 54.4% upswing to CAD 246.6mn, primarily fueled by higher operating income and partially offset by higher net finance costs. Driven by these factors, ATS achieved a notable increase in net income at CAD 194.1 million, in contrast to CAD 127.7 million in FY23.
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