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AtkinsRéalis Reports Second Quarter 2026 Results

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3 months ago

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Revenue of $3.0 billion, up 10%, and Segment Adjusted EBIT up 10%, over Q2 2025 Adjusted EBITDA(1) up 14%, over Q2 2025, to a quarterly record highDiluted EPS of $0.59 and Adjusted diluted EPS(1)(5) of $0.97, up 20% over Q2 2025Net cash generated from operating activities of $83.5 millionNuclear full year revenue outlook increased to approximately $2.7 billion

MONTREAL, Aug. 6, 2026 /CNW/ — AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, today announced its financial results for the second quarter ended June 30, 2026.

AtkinsRéalis reports strong results, delivering year-over-year increases in revenue, Adjusted EBITDA and Adjusted Diluted EPS in Q2. The Company continues to leverage its financial flexibility, strong cash position and low debt to advance its value-focused capital allocation strategy. Demand for the Company’s engineering services and nuclear products continues to be robust, resulting in a $20 billion backlog at quarter’s end.

“We executed another strong quarter, led by significant Nuclear growth, and consistent demand for our unique Engineering Services capabilities,” said Ian L. Edwards, President and CEO of AtkinsRéalis. “We also enhanced our Adjusted EBITDA margin and delivered positive operating cash flows, highlighting our ability to grow while operating more efficiently. Additionally, we continued to execute our value-focused capital allocation priorities, repurchasing $242 million of shares and advancing our Land and Expand strategy through the announced acquisitions of WGA, Coras Solutions and TOBIN. These additions strengthen our local presence and technical capabilities across Australia and Ireland. Looking ahead, momentum continues to build globally for the proprietary CANDU technology. Canada’s Nuclear Energy Strategy reinforces CANDU as a cornerstone of the country’s nuclear advantage, while our progress toward bringing CANDU technology to the U.S. marks another important step in expanding its role internationally. None of this progress would be possible without our 41,000 colleagues, whose hard work and dedication continue to move AtkinsRéalis forward as we engineer a better future for our planet and its people.”

Q2 2026 Financial Highlights

(All results reflect comparisons to prior-year period of Q2 2025)
(Engineering Services Regions is comprised of the following reportable segments: Canada, United Kingdom & Ireland (“UKI”), United States & Latin America (“USLA”) and Asia, Middle East & Australia (“AMEA”))

Revenue totaled $3.0 billion, an increase of 10.0%, or 8.3% on an organic revenue growth(1)(3) basisEngineering Services Regions revenue(2) totaled $2.0 billion, an increase of 5.0%, or 2.2% on an organic revenue growth(1)(3) basis Nuclear revenue totaled $671.2 million, an increase of 18.3%, or 18.1% on an organic revenue growth(1)(3) basisSegment Adjusted EBIT increased by 10.2% to $271.4 millionSegment Adjusted EBIT for Engineering Services Regions(2) increased by 11.8% to $191.4 million, representing a Segment Adjusted EBIT to segment revenue ratio of 9.8%. Segment Adjusted EBITDA to segment net revenue ratio(1)(4) was 16.4%, an increase of 70 basis points Segment Adjusted EBIT for Nuclear increased by 20.8% to $77.0 million, representing a Segment Adjusted EBIT to segment revenue ratio of 11.5% and a Segment Adjusted EBITDA to segment net revenue ratio(1)(4) of 25.6%Segment Adjusted EBIT for All other segments was $3.0 million Adjusted EBITDA(1) increased by 14.2% to a quarterly record high of $292.9 million, representing an Adjusted EBITDA to revenue ratio(1)(6) of 9.8%, an increase of 40 basis points
Net income attributable to AtkinsRéalis shareholders totaled $95.7 million, or $0.59 per diluted share, compared to $2.3 billion, or $13.32 per diluted share in Q2 2025, which included an after-tax gain on disposal of the Company’s remaining 6.76% interest in Highway 407 ETR of $2.2 billion, or $12.86 per diluted share
Adjusted net income attributable to AtkinsRéalis shareholders(1) increased to $158.7 million, or $0.97 per diluted share, compared to $140.9 million, or $0.81 per diluted share in Q2 2025, representing an increase of 19.8% in Adjusted diluted EPSBacklog totaled $20.2 billion as at June 30, 2026, with Engineering Services Regions reaching a new record-high level The Company returned a total of $245.0 million to shareholders through share repurchases and dividends in Q2 2026 ($332.3 million year-to-date)
Net cash generated from operating activities was $83.5 million
Cash and cash equivalents as at June 30, 2026 totaled $833.0 million

2026 Outlook (Revised)

The Company is raising its Nuclear revenue outlook for full year 2026 to approximately $2.7 billion, from approximately $2.5 billion, reflecting continued strong revenue growth year-to-date.

All other financial outlook metrics for full year 2026, issued on February 27, 2026, in the Q4 2025 press release are maintained.

Second Quarter Financial Results

Net income attributable to AtkinsRéalis shareholders in the second quarter of 2026 totaled $95.7 million, compared to $2.32 billion in Q2 2025, which included an after-tax gain on disposal of the Company’s remaining 6.76% interest in Highway 407 ETR of $2.24 billion. Excluding this gain, net income increased mainly due to higher Segment Adjusted EBIT, lower corporate selling, general and administrative expenses, restructuring and transformation costs, and net financial expenses, partially offset by a higher income tax expense.

Financial Highlights

Q2 2026

Q2 2025

2026A

2025A

Revenue

   Engineering Services Regions

1,950.2

1,857.9

3,894.8

3,594.7

   Nuclear

671.2

567.3

1,407.8

1,105.6

   All other segments*

363.9

289.8

680.5

560.4

2,985.3

2,715.0

5,983.1

5,260.6

Segment Adjusted EBIT

   Engineering Services Regions

191.4

171.2

350.0

322.0

   Nuclear

77.0

63.7

158.9

126.4

   All other segments*

3.0

11.4

7.0

16.6

271.4

246.3

515.9

465.0

Earnings before interest and taxes (EBIT)

176.1

2,711.8

331.0

2,833.2

Earnings before interest, taxes, depreciation and amortization (EBITDA)(1)

254.2

2,785.2

486.1

2,967.1

Gain on disposal of a joint venture

–

2,569.9

–

2,569.9

Adjusted EBITDA(1)

292.9

256.4

546.6

470.5

Net income attributable to AtkinsRéalis shareholders

95.7

2,317.5

188.5

2,386.6

Diluted EPS attributable to AtkinsRéalis shareholders ($)

0.59

13.32

1.15

13.67

Adjusted net income attributable to AtkinsRéalis shareholders(1)**

158.7

140.9

290.6

250.9

Adjusted diluted EPS(1)(5)** ($)

0.97

0.81

1.77

1.44

Backlog as at June 30

   Engineering Services Regions

13,357.7

13,000.2

   Nuclear

4,211.2

5,648.2

   All other segments*

2,613.6

2,291.6

20,182.6

20,939.9

All figures in millions of Canadian dollars, except as otherwise indicated

Certain totals and subtotals may not reconcile due to rounding

A For the six-month period ended June 30

* 2025 Revenue, Segment Adjusted EBIT and Backlog figures have been restated to reflect the new presentation effective as of January 1, 2026

** Comparative figures have been restated to reflect the current period presentation by including the loss on extinguishment of debt to the list of adjustments

Quarterly Dividend

The Board of Directors today declared a cash dividend of $0.02 per share, unchanged from the previous quarter. The dividend is payable on September 3, 2026 to shareholders of record on August 20, 2026. This dividend is an “eligible dividend” for Canadian federal and provincial income tax purposes.

Second Quarter 2026 Conference Call / Webcast

AtkinsRéalis will hold a webcast and conference call today at 8:00 a.m. (Eastern Daylight Time) to discuss and present its second quarter financial results. The live webcast of the conference call can be accessed through a link posted on the Company’s website at www.atkinsrealis.com/en/investors or using this link. To participate to the conference call, please pre-register using this link. Registrants will receive a confirmation email with dial-in details and a unique access code required to join the live call.

A recording of the webcast and a transcript of the conference call will be available on the Company’s website within 24 hours following the call.

About AtkinsRéalis

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world’s infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital advisory services. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services and Nuclear, as the steward of CANDU® nuclear technology. News and information are available at www.atkinsrealis.com or follow us on LinkedIn.

Non-IFRS Financial Measures and Ratios, Supplementary Financial Measures, Total of Segments Measures and Non-Financial Information

The Company reports its financial results in accordance with IFRS® Accounting Standards (“IFRS”). However, the following non‑IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information are used by the Company in this press release: Organic revenue growth (contraction), EBITDA, Adjusted EBITDA, Segment Adjusted EBITDA, Adjusted net income (loss) attributable to AtkinsRéalis shareholders, Adjusted diluted EPS, Segment Adjusted EBITDA to segment net revenue ratio, Adjusted EBITDA to revenue ratio and Segment net revenue, as well as certain measures for various reportable segments that are grouped together, such as Revenue, Segment Adjusted EBIT and Backlog for the various Engineering Services Regions segments. Additional details for these non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information can be found below and in Sections 4 and 9 of the Company’s Management Discussion & Analysis (“MD&A”) for the second quarter of 2026, which sections are incorporated by reference into this press release, filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company’s website at www.atkinsrealis.com under the “Investors” section.

Non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information do not have any standardized meaning under IFRS and other issuers may define these measures differently and, accordingly, they may not be comparable to similar measures prepared by other issuers. Such non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information have limitations and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

However, management believes that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information provide additional insight into the Company’s operating performance and financial position, and certain investors may use this information to evaluate the Company’s performance from period to period. Reconciliations and calculations of non-IFRS measures and ratios, supplementary financial measures, total of segments measures and non-financial information to the most comparable IFRS measures and ratios are set forth below in the section “Reconciliations and Calculations” of this press release.

(1) Non-IFRS financial measure or ratio or supplementary financial measure.

(2) Total of segments measure.

(3) Organic revenue growth (contraction) ratio is a non-IFRS ratio comparing organic revenue (which excludes foreign exchange and acquisitions and disposals impacts), itself a non-IFRS financial measure, between two periods. See “Calculation of organic revenue growth (contraction)” in the section “Reconciliations and Calculations” of this press release for each non-IFRS financial measure used as a component of this non-IFRS ratio.

(4) Segment Adjusted EBITDA to segment net revenue ratio for Engineering Services Regions and Nuclear are non-IFRS ratios based on Segment Adjusted EBITDA and segment net revenue, both of which are non-IFRS financial measures. See “Calculation of Segment net revenue and Segment Adjusted EBITDA to segment net revenue ratios for Engineering Services Regions and Nuclear” in the section “Reconciliations and Calculations” of this press release for each non-IFRS financial measure used as a component of these non-IFRS ratios.

(5) Adjusted diluted EPS is a non-IFRS ratio based on adjusted net income (loss) attributable to AtkinsRéalis shareholders, itself a non-IFRS financial measure. See “Reconciliation of Adjusted net income attributable to AtkinsRéalis shareholders to IFRS net income attributable to AtkinsRéalis shareholders” in the section “Reconciliations and Calculations” of this press release for the non-IFRS financial measure used as a component of this non-IFRS ratio.

(6) Adjusted EBITDA to revenue ratio is a non-IFRS ratio based on Adjusted EBITDA and revenue, of which the Adjusted EBITDA is a non-IFRS financial measure. See “Reconciliation of EBITDA and Adjusted EBITDA to IFRS net income and calculation of Adjusted EBITDA to revenue ratio” in the section “Reconciliations and Calculations” of this press release for the non-IFRS financial measure used as a component of this non-IFRS ratio.

Reconciliations and Calculations

Q2 2026

Q2 2025

Before Taxes

Taxes

After Taxes

Diluted EPS

(in $)

Before Taxes

Taxes

After Taxes

Diluted EPS

(in $)

Net income attributable to AtkinsRéalis shareholders

(IFRS)

95.7

0.59

2,317.5

13.32

Restructuring and transformation costs*

21.2

(5.3)

16.0

34.0

(3.2)

30.8

Amortization of intangible assets related to business combinations

28.7

(6.0)

22.7

26.6

(5.4)

21.2

Acquisition-related costs and integration costs

13.8

(1.8)

12.1

7.2

–

7.2

Loss on extinguishment of debt**

16.6

(4.4)

12.2

1.5

(0.4)

1.1

Gain on disposal of a joint venture

–

–

–

(2,569.9)

333.1

(2,236.8)

Total adjustments

80.3

(17.4)

63.0

0.39

(2,500.7)

324.1

(2,176.6)

(12.51)

Adjusted net income attributable to AtkinsRéalis shareholders

(non-IFRS)

158.7

0.97

140.9

0.81

Six months ended

June 30, 2026

Six months ended

June 30, 2025

Before Taxes

Taxes

After Taxes

Diluted EPS

(In $)

Before Taxes

Taxes

After Taxes

Diluted EPS

(In $)

Net income attributable to AtkinsRéalis shareholders

(IFRS)

188.5

1.15

2,386.6

13.67

Restructuring and transformation costs*

37.6

(9.3)

28.4

62.5

(10.3)

52.2

Amortization of intangible assets related to business combinations

57.2

(11.9)

45.3

46.1

(9.2)

36.9

Acquisition-related costs and integration costs

19.2

(3.0)

16.2

10.9

–

10.9

Loss on extinguishment of debt**

16.6

(4.4)

12.2

1.5

(0.4)

1.1

Gain on disposal of a joint venture

–

–

–

(2,569.9)

333.1

(2,236.8)

Total adjustments

130.6

(28.6)

102.1

0.62

(2,449.0)

313.2

(2,135.8)

(12.23)

Adjusted net income attributable to AtkinsRéalis shareholders

(non-IFRS)

290.6

1.77

250.9

1.44

*Restructuring and transformation costs for the second quarter and for the first six months of 2026 exclude the restructuring and transformation costs and related tax impact attributable to non-controlling interest

**Comparative figures have been restated to reflect the current period presentation by including the loss on extinguishment of debt to the list of adjustments

Note that certain totals and subtotals may not reconcile due to rounding

All figures in millions of Canadian dollars, except as otherwise indicated

Reconciliation of EBITDA and Adjusted EBITDA to IFRS net income and calculation of Adjusted EBITDA to revenue ratio

Q2 2026

Q2 2025

Six months ended

June 30, 2026

Six months ended

June 30, 2025

Revenue

2,985.3

2,715.0

5,983.1

5,260.6

Net income

103.9

2,321.0

203.7

2,391.6

Net financial expenses

30.8

39.2

44.9

76.8

Income tax expense

41.4

351.6

82.5

364.9

EBIT

176.1

2,711.8

331.0

2,833.2

Depreciation and amortization

78.1

73.4

155.0

133.8

EBITDA

254.2

2,785.2

486.1

2,967.1

Restructuring and transformation costs

24.9

34.0

41.3

62.5

Acquisition-related costs and integration costs

13.8

7.2

19.2

10.9

Gain on disposal of a joint venture

–

(2,569.9)

–

(2,569.9)

Adjusted EBITDA

292.9

256.4

546.6

470.5

Adjusted EBITDA to revenue ratio

9.8 %

9.4 %

9.1 %

8.9 %

Note that certain totals and subtotals may not reconcile due to rounding

All figures in millions of Canadian dollars, except as otherwise indicated

Components of Engineering Services Regions

Q2 2026

Q2 2025

Six months ended
June 30, 2026

Six months ended
June 30, 2025

Revenue

  Canada

412.6

366.1

788.8

691.8

  UKI

721.1

670.3

1,467.4

1,331.1

  USLA

529.0

512.1

1,057.5

944.2

  AMEA

287.5

309.4

581.1

627.5

Engineering Services Regions

1,950.2

1,857.9

3,894.8

3,594.7

Segment Adjusted EBIT

  Canada

37.4

26.3

59.8

42.6

  UKI

86.4

78.0

175.4

153.1

  USLA

47.3

43.3

81.7

82.8

  AMEA

20.4

23.5

33.1

43.5

Engineering Services Regions

191.4

171.2

350.0

322.0

June 30,

2026

June 30,

2025

Backlog

  Canada

7,587.2

7,965.8

  UKI

2,100.1

1,937.3

  USLA

1,991.8

1,779.4

  AMEA

1,678.6

1,317.7

Engineering Services Regions

13,357.7

13,000.2

Note that certain totals and subtotals may not reconcile due to rounding

All figures in millions of Canadian dollars

Reconciliation of Segment Adjusted EBIT to Segment Adjusted EBITDA for Engineering Services Regions and Nuclear

Q2 2026

Q2 2025

Six months ended
June 30, 2026

Six months ended
June 30, 2025

Segment Adjusted EBIT – Engineering Services Regions

191.4

171.2

350.0

322.0

Depreciation and amortization – Engineering Services Regions

39.9

38.3

79.3

71.3

Segment Adjusted EBITDA – Engineering Services Regions

231.3

209.4

429.4

393.3

Q2 2026

Q2 2025

Six months ended
June 30, 2026

Six months ended
June 30, 2025

Segment Adjusted EBIT – Nuclear

77.0

63.7

158.9

126.4

Depreciation and amortization – Nuclear

5.2

5.4

10.6

10.8

Segment Adjusted EBITDA – Nuclear

82.2

69.2

169.4

137.1

Note that certain totals and subtotals may not reconcile due to rounding

All figures in millions of Canadian dollars

Calculation of Segment net revenue and Segment Adjusted EBITDA to segment net revenue ratios for Engineering Services Regions and Nuclear

Q2 2026

Q2 2025

Six months ended
June 30, 2026

Six months ended
June 30, 2025

Revenue – Engineering Services Regions

1,950.2

1,857.9

3,894.8

3,594.7

Less: Direct costs for sub-contractors and other direct expenses that are recoverable directly from clients – Engineering Services Regions

544.0

523.4

1,093.3

1,018.6

Segment net revenue –

Engineering Services Regions

1,406.2

1,334.5

2,801.4

2,576.1

Segment Adjusted EBITDA – Engineering Services Regions

231.3

209.4

429.4

393.3

Segment Adjusted EBITDA to segment

net revenue ratio – Engineering Services Regions

16.4 %

15.7 %

15.3 %

15.3 %

Engineering Services Regions comprises Canada, UKI, USLA and AMEA segments

Q2 2026

Q2 2025

Six months ended
June 30, 2026

Six months ended
June 30, 2025

Revenue – Nuclear

671.2

567.3

1,407.8

1,105.6

Less: Direct costs for sub-contractors and other direct expenses that are recoverable directly from clients – Nuclear

350.4

295.3

764.9

580.2

Segment net revenue – Nuclear

320.8

272.0

642.9

525.4

Segment Adjusted EBITDA – Nuclear

82.2

69.2

169.4

137.1

Segment Adjusted EBITDA to segment

net revenue ratio – Nuclear

25.6 %

25.4 %

26.4 %

26.1 %

Note that certain totals and subtotals may not reconcile due to rounding

All figures in millions of Canadian dollars, except as otherwise indicated

Calculation of organic revenue growth (contraction)

Revenue

Q2 2026

Revenue

Q2 2025 

Variance

Foreign exchange
impact

Acquisitions /
Disposals impact

Organic revenue
growth

Engineering Services Regions

1,950.2

1,857.9

92.3

9.2

42.9

40.2

Nuclear

671.2

567.3

103.9

1.5

–

102.4

All other segments*

363.9

289.8

74.1

3.8

(13.5)

83.8

Total

2,985.3

2,715.0

270.3

14.5

29.4

226.4

Revenue

Q2 2026

Revenue

Q2 2025 

Variance

Foreign exchange
impact

Acquisitions /
Disposals impact

Organic revenue
growth

Engineering Services Regions

1,950.2

1,857.9

5.0 %

0.5 %

2.3 %

2.2 %

Nuclear

671.2

567.3

18.3 %

0.3 %

–

18.1 %

All other segments*

363.9

289.8

25.6 %

1.3 %

(4.7) %

28.9 %

Total

2,985.3

2,715.0

10.0 %

0.5 %

1.1 %

8.3 %

Revenue

Q2 2025

Revenue

Q2 2024

Variance

Foreign exchange
impact

Acquisitions /
Disposals impact

Organic revenue
growth

(contraction)  

Engineering Services Regions

1,857.9

1,746.6

111.2

46.6

83.4

(18.8)

Nuclear

567.3

357.6

209.7

8.2

–

201.5

All other segments*

289.8

259.7

30.1

8.1

–

22.0

Total

2,715.0

2,364.0

351.0

62.9

83.4

204.8

Revenue

Q2 2025

Revenue

Q2 2024 

Variance

Foreign exchange
impact

Acquisitions /
Disposals impact

Organic revenue
growth

(contraction)

Engineering Services Regions

1,857.9

1,746.6

6.4 %

2.7 %

4.8 %

(1.1) %

Nuclear

567.3

357.6

58.6 %

2.3 %

–

56.3 %

All other segments*

289.8

259.7

11.6 %

3.1 %

–

8.5 %

Total

2,715.0

2,364.0

14.8 %

2.7 %

3.5 %

8.7 %

Revenue

Six months ended
June 30, 2026

Revenue

Six months ended
June 30, 2025 

Variance

Foreign exchange
impact

Acquisitions /
Disposals impact

Organic revenue
growth  

Engineering Services Regions

3,894.8

3,594.7

300.1

6.7

166.1

127.3

Nuclear

1,407.8

1,105.6

302.2

3.2

–

299.1

All other segments*

680.5

560.4

120.2

6.9

(13.5)

126.8

Total

5,983.1

5,260.6

722.5

16.7

152.6

553.2

Revenue

Six months ended
June 30, 2026

Revenue

Six months ended
June 30, 2025

Variance

Foreign exchange
impact

Acquisitions /
Disposals impact

Organic revenue
growth

Engineering Services Regions

3,894.8

3,594.7

8.3 %

0.2 %

4.6 %

3.5 %

Nuclear

1,407.8

1,105.6

27.3 %

0.3 %

–

27.0 %

All other segments*

680.5

560.4

21.4 %

1.2 %

(2.4) %

22.6 %

Total

5,983.1

5,260.6

13.7 %

0.3 %

2.9 %

10.5 %

Revenue

Six months ended
June 30, 2025

Revenue

Six months ended
June 30, 2024

Variance

Foreign exchange
impact

Acquisitions /
Disposals impact

Organic revenue
growth

(contraction)  

Engineering Services Regions

3,594.7

3,465.7

129.0

123.4

90.4

(84.8)

Nuclear

1,105.6

656.2

449.4

18.4

–

431.0

All other segments*

560.4

506.4

54.0

16.5

–

37.5

Total

5,260.6

4,628.3

632.4

158.2

90.4

383.7

Revenue

Six months ended
June 30, 2025

Revenue

Six months ended
June 30, 2024

Variance

Foreign exchange
impact

Acquisitions /
Disposals impact

Organic revenue
growth

(contraction)

Engineering Services Regions

3,594.7

3,465.7

3.7 %

3.6 %

2.6 %

(2.4) %

Nuclear

1,105.6

656.2

68.5 %

2.8 %

–

65.7 %

All other segments*

560.4

506.4

10.7 %

3.3 %

–

7.4 %

Total

5,260.6

4,628.3

13.7 %

3.4 %

2.0 %

8.3 %

Note that certain totals and subtotals may not reconcile due to rounding

All figures in millions of Canadian dollars, except as otherwise indicated

* 2025 and 2024 figures have been restated to reflect the new presentation effective as of January 1, 2026

Forward-Looking Statements

References in this press release, and hereafter, to the “Company”, “AtkinsRéalis”, “we”, “us” and “our” mean, as the context may require, AtkinsRéalis Group Inc. and all or some of its subsidiaries or joint arrangements or associates, or AtkinsRéalis Group Inc. or one or more of its subsidiaries or joint arrangements or associates.

Statements made in this press release that describe the Company’s or management’s budgets, estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be “forward-looking statements”, which can be identified by the use of the conditional or forward-looking terminology such as “aims”, “anticipates”, “assumes”, “believes”, “cost savings”, “estimates”, “expects”, “forecasts”, “goal”, “intends”, “likely”, “may”, “objective”, “outlook”, “plans”, “projects”, “should”, “synergies”, “target”, “vision”, “will”, or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. Forward-looking statements in this press release include statements relating to the Company’s future economic performance and financial condition. Forward-looking statements also include statements relating to the following: i) future capital expenditures, revenue, expenses, earnings, economic performance, indebtedness, financial condition, losses, project or contract-specific cost reforecasts and claims provisions, future prospects, and potential future significant contract opportunities, including those in the Nuclear segment; and ii) business and management strategies and the expansion and growth of the Company’s operations. All such forward-looking statements are made pursuant to the “safe-harbour” provisions of applicable Canadian securities laws. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company’s current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company’s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company’s 2025 Annual MD&A (particularly in the sections entitled “Critical Accounting Judgements and Key Sources of Estimation Uncertainty” and “How We Analyze and Report Our Results”). If these assumptions are inaccurate, the Company’s actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company’s assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. These risks include, but are not limited to, matters relating to: (a) contract awards and timing; (b) contract liability and execution risk; (c) backlog and contracts with termination for convenience provisions; (d) competition; (e) qualified personnel; (f) international operations; (g) risks relating to the Company’s Nuclear segment; (h) research and development activities and related investments; (i) acquisition and integration of businesses; (j) divestitures and the sale of significant assets; (k) dependence on third parties; (l) supply chain disruptions; (m) joint arrangements and partnerships; (n) cybersecurity, information systems and data and compliance with privacy legislation; (o) Artificial Intelligence (“AI”) and other innovative technologies; (p) being a provider of services to government agencies; (q) strategic direction; (r) professional liability or liability for faulty services; (s) monetary damages and penalties in connection with professional and engineering reports and opinions; (t) gaps in insurance coverage; (u) health and safety; (v) work stoppages, union negotiations and other labour matters; (w) epidemics, pandemics and other health crises; (x) global climate change, extreme weather conditions and the impact of natural or other disasters; (y) Environmental, Social and Governance (“ESG”); (z) intellectual property; (aa) ownership interests in investments; (bb) Lump-sum turnkey (“LSTK”) contracts; (cc) liquidity and financial position; (dd) indebtedness; (ee) impact of operating results and level of indebtedness on financial situation; (ff) dependence on subsidiaries to help repay indebtedness; (gg) dividends; (hh) post-employment benefit obligations, including pension-related obligations; (ii) working capital requirements; (jj) collection from customers; (kk) impairment of goodwill and other non-current intangible and tangible assets; (ll) the impact on the Company of legal and regulatory proceedings, investigations and dispute settlements; (mm) employee, agent or partner misconduct or failure to comply with anti-corruption and other government laws and regulations; (nn) reputation of the Company; (oo) inherent limitations to the Company’s control framework; (pp) regulatory framework; (qq) global economic conditions; (rr) inflation; (ss) fluctuations in commodity prices; and (tt) income taxes.

The Company cautions that the foregoing list of factors is not exhaustive. For more information on risks and uncertainties, and assumptions that could cause the Company’s actual results to differ from current expectations, please refer to the sections “Risks and Uncertainties”, “How We Analyze and Report Our Results” and “Critical Accounting Judgements and Key Sources of Estimation Uncertainty” in the Company’s 2025 Annual MD&A, and as may be updated from time to time in the Company’s 2026 interim quarterly MD&A filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company’s website at www.atkinsrealis.com under the “Investors” section.

The forward-looking statements herein reflect the Company’s expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any written or oral forward-looking information or statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

For More Information:

Media

Investors

Antoine Calendrier

Denis Jasmin

Vice President, Global External
Communications

Vice President, Investor Relations

514-393-8000 ext. 57553

media@atkinsrealis.com 

denis.jasmin@atkinsrealis.com

The Company’s unaudited interim condensed consolidated financial statements for the three-month and six-month periods ended June 30, 2026 and 2025, together with its Management’s Discussion and Analysis for the corresponding periods, can be accessed on the Company’s website at www.atkinsrealis.com and on www.sedarplus.com.

SOURCE AtkinsRéalis

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Technology

AEWIN Showcases Server Portfolio with AMD EPYC 9006 SP7 Processors at AMD in Depth: EPYC “Venice”

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6 minutes ago

on

November 11, 2026

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Comprehensive AI, General-Purpose, and Storage Server Portfolio Highlights Platform Readiness and Upcoming System Shipments

LAS VEGAS, Nov. 10, 2026 /PRNewswire/ — AEWIN Technologies Co., Ltd., a member of the Qisda Group and a server and network appliance provider, today announced new servers powered by AMD EPYC™ 9006 SP7 Server CPUs. Originally previewed on November 5th during the AMD in Depth: EPYC “Venice” event in Las Vegas, the BG28-A10710 and BX28-A10710 highlight AEWIN’s platform readiness as the company prepares to bring its latest EPYC servers to the market in alignment.

In addition to the systems demonstrated at the event, AEWIN’s Server portfolio spans AI, general-purpose, and storage servers designed for a broad range of infrastructure requirements. Building on its previously announced lineup, AEWIN offers servers featuring high-performance computing power, high-speed connectivity, and flexible configurations to support AI workloads, enterprise applications, scalable storage, and cloud infrastructure.

For AI computing, the BG18-A10710 1U AI Server supports up to two single-width 600W GPUs and integrates two-phase direct liquid cooling (2P DLC) solutions for CPU and GPU thermal management. The BG28-A10710 2U AI Server accommodates up to four full-height, full-length GPUs, supporting demanding AI training, inference, and accelerated computing workloads through PCIe 6.0 connectivity.

For enterprise and cloud infrastructure, the BX28-A10710 2U General Purpose Server combines balanced compute and storage capabilities with support for two PCIe 6.0 slots, one OCP 3.0 slot, and up to 12 U.2 NVMe SSDs. For performance-critical storage workloads, the BS28-A10710 2U Storage Server supports up to 16 E3.S Gen6 SSDs, providing high-density storage capacity and high-bandwidth connectivity for data-intensive applications.

By translating AMD EPYC 9006 SP7 Server CPU capabilities into purpose-built platforms, AEWIN enables customers to address diverse workload requirements. Its offerings deliver the versatility needed to master shifting market dynamics, seamlessly balancing extreme performance with cost-effective scalability. With its expanding server portfolio and the broader technology capabilities of Qisda Group ecosystem partners, AEWIN is well positioned to empower customers to build reliable, efficient, and future-ready rack-scale AI infrastructure.

View original content to download multimedia:https://www.prnewswire.com/news-releases/aewin-showcases-server-portfolio-with-amd-epyc-9006-sp7-processors-at-amd-in-depth-epyc-venice-302935761.html

SOURCE AEWIN Technologies Co., Ltd.

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Technology

Baylin announces $35.3 million in revenue for the third quarter of 2026 as compared to $16.8 million for the same period in 2025

Published

6 minutes ago

on

November 11, 2026

By

Investor Conference Call on November 11, 2026 at 10:00 a.m. ET

TORONTO, Nov. 10, 2026 /CNW/ — Baylin Technologies Inc. (TSX: BYL) (OTCQB: BYLTF) (the “Company” or “Baylin”), a leading diversified global wireless technology company focused on cellular radio frequency products, custom antenna solutions, satellite communications products, and supporting services, today announced its financial results for the three and nine months ended September 30, 2026. All amounts are stated in Canadian dollars unless otherwise indicated.

THIRD QUARTER SUMMARY

Revenue of $35.3 million compared to $16.8 million in the third quarter of 2025, an increase of 110.7%. The increase was primarily due to the inclusion of a full quarter of revenue from the Kaelus business line.Gross profit of $12.2 million compared to $7.3 million in the third quarter of 2025, due mainly to the inclusion of gross profit from the Kaelus business line.Gross margin of 34.6% compared to 43.4% in the third quarter of 2025 was largely attributed to product mix within the period combined with inflationary pressures, increased operating costs and the ongoing impact of global economic and geopolitical uncertainty.Adjusted EBITDA* of $0.7 million compared to $0.6 million in the third quarter of 2025 was impacted by the same factors as gross margin.Net loss of $0.7 million compared to $1.1 million in the third quarter of 2025, due primarily to an operating loss of $0.8 million. On a per share basis, a net loss of $0.00 per share in the third quarter of 2026 compared to a net loss of $0.01 per share in the third quarter of 2025.Net debt* of $12.7 million at September 30, 2026 compared to $12.4 million at December 31, 2025.Backlog* of $50.9 million at September 30, 2026 compared to $20.4 million at December 31, 2025. The increase was mainly due to the inclusion of backlog from the Kaelus business line and strong new order intake from the Satcom business line.

* This is a non-IFRS measure. See notes in “Selected Financial Information”.

RECENT DEVELOPMENTS

Term Facility

On May 15, 2026, the Company entered into an agreement (the “Credit Agreement”) with Luis LP (the “Lender”), an entity established by SAF Group, a Calgary-based private credit lender, pursuant to which the Lender established a non-revolving term credit facility (the “Term Facility”) in favour of the Company for up to $30.9 million.

Following September 30, 2026, the Company failed to meet the minimum Lender-defined EBITDA covenant applicable to the second and third quarters of 2026 combined period. On November 10, 2026, the Company and the Lender entered into the First Amending Agreement, under which the Lender waived the Company’s failure to meet the minimum Lender-defined EBITDA covenant for the second and third quarters of 2026 combined, subject to the terms and conditions of the First Amending Agreement. The waiver does not apply to any other Default or Event of Default or to any future covenant tests, including the fourth quarter of 2026 tests, which remain in place. The principal terms of the First Amending Agreement can be found in the Company’s management’s discussion and analysis (the “MD&A”) for the three and nine months ended September 30, 2026.

Pursuant to the terms of the Credit Agreement, the Company is prohibited from making the Kaelus deferred purchase price payments of approximately $10.6 million due November 15, 2026 and $2.7 million due December 15, 2026 when due and the Company is uncertain whether it will be allowed to make the final instalment of $7.3 million due March 27, 2027 (collectively the “Kaelus Payments”). Interest on a portion of the Kaelus Payments accrues at 5% per annum from closing until paid. The Company is evaluating alternatives to address these obligations.

The Kaelus Payments are presented in Canadian dollars based on the September 30, 2026 exchange rate. As previously disclosed, the Kaelus Payments are payable in Swedish Krona (SEK), and the actual Canadian dollar equivalent of the final payments will vary based on the exchange rate in effect on the applicable payment dates.

If a guaranteed Kaelus Payment is not made when due, the former Kaelus shareholders may make written demand under the guarantee against 2385796 Ontario Inc., a corporation controlled by Mr. Royer.

SELECTED FINANCIAL INFORMATION

The table below discloses selected financial information for the periods indicated.

(in $000’s except per share amounts)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

Change

Change

2026

2025

Change

Change

$

$

$

%

$

$

$

%

Profit and Loss

Revenue

35,300

16,754

18,546

> 100.0%

73,383

58,076

15,307

26.4 %

Gross profit

12,230

7,274

4,956

68.1 %

29,273

25,682

3,591

14.0 %

Gross margin

34.6 %

43.4 %

(8.8 pp)

(20.3 %)

39.9 %

44.2 %

(4.3 pp)

(9.7 %)

Net loss

(742)

(1,100)

358

(32.5 %)

(6,249)

(2,142)

(4,107)

> 100.0%

Basic and diluted net loss per share

($0.00)

($0.01)

$0.01

(100.0 %)

($0.03)

($0.01)

($0.02)

> 100.0%

EBITDA(1)

263

249

14

5.6 %

(371)

2,060

(2,431)

N/A

Adjusted EBITDA(2)

703

586

117

20.0 %

3,805

4,695

(890)

(19.0 %)

As at

As at

As at

As at

September

30, 2026

September

30, 2025

Change

Change

September

30, 2026

December

31, 2025

Change

Change

$

$

$

%

$

$

$

%

Balance Sheet and Other

Current assets

75,520

33,399

42,121

> 100.0%

75,520

39,413

36,107

91.6 %

Total assets

114,512

44,243

70,269

> 100.0%

114,512

45,377

69,135

> 100.0%

Current liabilities

92,484

38,433

54,051

> 100.0%

92,484

50,582

41,902

82.8 %

Total liabilities

99,612

54,098

45,514

84.1 %

99,612

57,026

42,586

74.7 %

Net debt(3)

12,695

11,364

1,331

11.7 %

12,695

12,395

300

2.4 %

Backlog(4)

50,874

22,645

28,229

> 100.0%

50,874

20,404

30,470

> 100.0%

Notes:

(1)

See “Non-IFRS Measures”. “EBITDA” refers to net income (loss) plus income tax expense (recovery), interest and other finance expense (income), investment income, fair value adjustments, depreciation and amortization.

(2)

See “Non-IFRS Measures”. “Adjusted EBITDA” refers to EBITDA adjusted for the impact of certain items, including asset impairment charges, expenses from mergers and acquisitions, costs of reorganization of a business, gain or loss on the sale of a business, including related expenses, legal costs incurred from significant non-operating activities, severance and executive recruitment costs, and share-based compensation.

(3)

See “Non-IFRS Measures”. “Net debt” refers to total bank indebtedness less cash and cash equivalents.

(4)

See “Non-IFRS Measures”. “Backlog” refers to the value of unfulfilled purchase orders placed by customers.

A copy of the Company’s unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2026 and corresponding management’s discussion and analysis (the “MD&A”) are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

OUTLOOK

Corporate

In the third quarter of 2026, the Company continued to advance its strategy of building a diversified global RF technology platform following the acquisition of Kaelus in May 2026. The quarterly sequential revenue increase in the third quarter reflected the contribution from the first full quarter of the Kaelus business line, combined with improvements from the Satcom business line. These gains were tempered by the decline in revenue in the Wireless Infrastructure business line as a result of North American wireless carriers redirecting capital spending to fibre assets in support of data centre buildouts. The Company generated positive Adjusted EBITDA of $0.7 million in the third quarter of 2026, its eleventh consecutive quarter of positive Adjusted EBITDA.

The macroeconomic environment remains challenging, given the ongoing geopolitical tensions and continuing uncertainty. Continued disruptions to the oil supply in the Middle East kept the oil and fuel prices elevated, with broader impacts on transportation, logistics and other production costs across multiple industries. In addition, the Company is facing higher manufacturing costs amid industry-wide price spikes affecting a wide range of electronic components, including memory chips and other critical components.

Despite these challenges and uncertainties, we remain committed to our core principles: clear market-driven strategies, cost containment, prioritizing research and product development, and focusing on revenue growth and margin improvement. Management continues to monitor component pricing and supply chain conditions closely and is focused on mitigating the impact through procurement optimization, cost control initiatives and operational efficiencies.

Based on our current assessment for the fourth quarter of 2026, we expect (i) the Kaelus business line will continue to generate solid revenue, with margins improving relative to recent periods; (ii) the Custom Antenna Solutions business line will experience a gradual recovery in order intake, although customer purchasing activity may continue to be affected by macroeconomic conditions; (iii) sales volumes in the Wireless Infrastructure business line will remain below historical levels due to continued project delays and reduced carrier spending, particularly in the United States; and, (iv) the Satcom business line will deliver improved revenue performance compared to earlier periods.

These operating expectations are subject to ongoing financing and liquidity constraints. Although the First Amending Agreement improved the Company’s short-term liquidity, the terms of the Credit Agreement prohibit the Company from making the Kaelus Payments due in November and December 2026. The Company also remains subject to future financial covenant tests, which it may not satisfy. Management is working constructively with its Lender to negotiate amendments to its credit arrangements intended to address these challenges and support the Company’s ongoing liquidity requirements.

Kaelus Business Line

For the third quarter of 2026, Kaelus delivered strong revenue and Adjusted EBITDA in its first full quarter of consolidated operations, significantly bolstering the Company’s consolidated results. Based on current customer order volumes, ongoing sales velocity and efforts on improving margins, management believes that Kaelus will continue to produce healthy results. Looking ahead, management remains focused on integrating Kaelus into the broader organization, pursuing cross-selling opportunities across the combined customer portfolios of the Kaelus and Wireless Infrastructure business lines, as well as diversifying Kaelus’ customer base to drive further growth in 2027.

Custom Antenna Solutions Business Line

Custom Antenna Solutions delivered softer financial results in the third quarter of 2026 compared to the prior year period. The business line is being impacted by customer order delays due to market volatility and macroeconomic uncertainty. In addition, the business line faced higher production costs resulting from industry-wide price spikes across a wide range of electronic components, which placed additional pressure on gross margins. Despite these challenges, we expect Custom Antenna Solutions revenue in the fourth quarter of 2026 to be comparable to the third quarter, and full-year 2026 revenue to be similar to 2025. The number of active bids for new projects remains at a solid level.

Wireless Infrastructure Business Line

Wireless Infrastructure experienced challenging market conditions in the third quarter of 2026, primarily reflecting capital expenditure delays by North American carriers. Looking ahead, management will continue to leverage the competitive advantages of its multibeam and small cell antenna technologies to pursue new opportunities and drive further sales with wireless carriers and third-party network operators in domestic and international markets. Based on our current assessment, we anticipate Wireless Infrastructure’s performance in revenue, gross profit and Adjusted EBITDA for the full year 2026 will be softer than its very strong 2025 results. We expect carriers to resume infrastructure spending in 2027, which we anticipate will support a recovery in backlog and sales volume for the business line.

Satcom Business Line

Satcom recorded a significant increase in its backlog in the latter part of the second quarter of 2026 and early in the third quarter, primarily driven by multi-million-dollar purchase orders for the Genesis amplifiers across high-power broadcast, government and defence satellite applications. Although Satcom’s top line result in the third quarter of 2026 was weaker than the prior year period, Adjusted EBITDA was comparable and also demonstrated sequential improvement compared to the second quarter of 2026. With this backlog in hand, our outlook for the fourth quarter is more favourable as customers continue to transition from legacy lower-margin products to the new Genesis products manufactured in the United States. This shift in product mix coupled with increased sales volume is expected to improve margins, but we still anticipate that Satcom will end 2026 with lower revenue, gross profit and Adjusted EBITDA compared to 2025.

Satcom is generally not subject to US tariffs. See “Tariffs” below.

Tariffs

The Company continues to take proactive steps to monitor and mitigate the effect of US tariffs across all its business lines.

Wireless Infrastructure’s products are manufactured in our facility in China or third-party facilities in Vietnam. The actual margin impact of tariffs on Wireless Infrastructure has been mitigated to a level much lower than the applicable tariff due to a number of measures taken by the Company. This has allowed Wireless Infrastructure to be compliant with current tariff regime while protecting margins.

Custom Antenna Solutions is currently not directly affected by US tariffs on China. Although Custom Antenna Solutions’ products are manufactured in our facility in China or third-party facilities in Vietnam, they are shipped from there to contract manufacturers elsewhere in Asia for embedding in their final products.

Satcom’s products are manufactured in Canada, and a significant proportion (between 40% and 50% annually) is delivered to its customers in the United States. Satcom’s products are compliant with the Canada–United States–Mexico Agreement (“CUSMA”) and are therefore exempt from general tariffs applicable to non-qualifying Canadian goods. Following the initial joint review held on July 1, 2026, the United States declined to extend CUSMA for a new 16-year term in its current form, triggering annual joint reviews among the three countries. CUSMA remains in force. While the tariff treatment for qualifying Satcom products remains unchanged at this time, the ongoing annual joint reviews introduce medium-term trade policy uncertainty that could impact North American tariff structures in the future.

Since completion of the acquisition of Kaelus, the Company has been working to harmonize its tariff mitigation strategy across the Kaelus business line in order to minimize the impact of tariffs on its products shipped to US customers. Kaelus manufactures through its company-owned facility in China as well as through the use of contract manufacturers in China, Vietnam, and India. US sales represent approximately 20% of Kaelus’ total historical revenue.

KAELUS ACQUISITION – PRO FORMA FORECAST

The Company is withdrawing its financial outlook for fiscal 2026, most recently provided on August 5, 2026, including the forecast for combined revenue, gross profit, gross margin and Adjusted EBITDA. Investors should no longer rely on the August 5, 2026 financial outlook.

The August 5, 2026, financial outlook was based on management’s then-current expectations and assumptions regarding customer demand, order patterns and deployment activity across the Company’s businesses. Since that time, the timing of anticipated capital spending and network deployments by certain customers has changed, resulting in the deferral of certain expected customer orders and reduced visibility regarding the timing of future demand. As a result, management no longer believes it has a sufficient basis to support the financial outlook previously provided for fiscal 2026.

Accordingly, the Company is withdrawing its fiscal 2026 financial outlook, is not providing replacement quantitative guidance at this time. The Company will continue to provide disclosure concerning its historical financial results, business and operations and, where appropriate, other forward-looking information in accordance with applicable Canadian securities laws.

INVESTOR CONFERENCE CALL

Baylin will hold a conference call on Wednesday, November 11, 2026 at 10:00 a.m. (ET) to discuss its financial results for the three and nine months ended September 30, 2026. The conference call will be hosted by Leighton Carroll, Chief Executive Officer, and Cliff Gary, Chief Financial Officer. All interested parties are invited to participate using the dial-in details provided below.

Date:                     

November 11, 2026

Time:                     

10:00 a.m. (ET)

Dial-in Number:     

(+1) 888-699-1199 or (+1) 416-945-7677

Conference ID#:     

17616

Rapid Connect:   

To instantly join the conference call by phone, please use the following URL to easily register

and be connected into the conference call automatically: https://emportal.ink/3P7r42x

Webcast:               

This call is also on webcast and can be accessed at: https://app.webinar.net/Ka91P23nGMd

FORWARD-LOOKING INFORMATION AND STATEMENTS

This press release includes forward-looking information and forward-looking statements (together, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements are not statements of historical fact. Rather, forward-looking statements are disclosure regarding the conditions, developments, events or financial performance that we expect or anticipate may or will occur in the future including, among other things, information or statements concerning our objectives and strategies to achieve those objectives, statements with respect to management’s beliefs, estimates, intentions and plans, and statements concerning anticipated future circumstances, events, expectations, operations, performance or results. Forward-looking statements can be identified generally by the use of forward-looking terminology, such as “anticipate”, “believe”, “could”, “should”, “would”, “estimate”, “expect”, “forecast”, “indicate”, “intend”, “likely”, “may”, “outlook”, “plan”, “potential”, “project”, “seek”, “target”, “trend” or “will” or the negative or other variations of these words or other comparable words or phrases and is intended to identify forward-looking statements, although not all forward-looking statements contain these words.

Forward-looking statements in this press release and the MD&A referenced herein include statements concerning the outlook for our business generally and each of our business lines in particular, including our expectation for future financial performance, the effect of the macroeconomic environment, higher interest rates, timing of and potential impacts from US tariffs, and other disruptions to our business and financial performance. Forward-looking statements are based on certain assumptions and estimates made by us in light of experience and perception of historical trends, current conditions, anticipated future developments, including projected growth in the sales of passive and active radio frequency and satellite communications products, and supporting services, and other factors that we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such assumptions and estimates will prove to be correct.

Forward-looking statements in this press release and the MD&A referenced herein include statements regarding the Company’s expected covenant compliance, available liquidity, ability to continue funding operations and meet obligations, treatment or restructuring of the Kaelus deferred purchase price, discussions with the Lender and former Kaelus shareholders, and the timing and consequences of any demand under the guarantee. These statements assume, among other things, continued Lender support, forecast operating performance and identified financing availability. Actual results may differ materially if the Company fails to satisfy future covenants, cannot obtain additional liquidity or accommodations, is required to make payments sooner than anticipated, or a former Kaelus shareholder makes demand under the guarantee.

Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including the risk factors discussed in the Company’s most recent Annual Information Form, which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca. All the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors in this press release. There can be no assurance that the actual results or developments will be realized or, even if substantially realized, will have the expected consequences to, or effects on, the Company. Unless required by applicable securities law, the Company does not intend and does not assume any obligation to update any forward-looking statements.

NON-IFRS MEASURES

This press release includes a number of measures that are not recognized under International Financial Reporting Standards (“IFRS”), do not have any standardized meaning under IFRS and as such may not be comparable to similar measures presented by other companies. Management believes that these measures provide useful information to analysts, investors and other interested parties regarding the Company’s financial condition and results of operation as they provide additional key metrics of the Company’s performance. While management believes that non-IFRS measures provide useful supplemental information, they are not intended to represent, and should not be considered as alternatives to, net income (loss), cash flows generated by operating, investing or financing activities, or other financial statement data presented in accordance with IFRS. For further information, see “Non-IFRS Measures” on page 3 of the MD&A.

ABOUT BAYLIN

Baylin is a leading diversified global wireless technology company focused on cellular radio frequency products, custom antenna solutions, satellite communications products, and supporting services.

For further information, please visit www.baylintech.com.

SOURCE Baylin Technologies Inc.

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Technology

JOAM INNOTECH Accelerates Global Expansion with Integrated Protection PCB Technology

Published

6 minutes ago

on

November 11, 2026

By

SEOUL, South Korea, Nov. 11, 2026 /PRNewswire/ — JOAM INNOTECH Co., Ltd. (CEO Byung-hyun Lee), a Korean company specializing in electrical safety, has announced that it has developed a printed circuit board (PCB) module that combines overvoltage, overcurrent and earth-leakage protection in a single unit. The company now plans to use this technology to expand into the global electrical safety market.

JOAM INNOTECH develops and manufactures PCBs for earth-leakage circuit breakers. Drawing on its experience in mass-producing overcurrent protection PCBs, the company is focused on advancing electrical safety technology. Its latest development, an integrated protection module that combines overvoltage, instantaneous overcurrent and earth-leakage detection on a single PCB, strengthens its product competitiveness.

The new module is designed to detect abnormal conditions in the power system, such as sustained high voltage, overcurrent or earth leakage, and trigger the breaker’s trip mechanism in response. Unlike conventional protection methods that only suppress momentary voltage surges, the module has enhanced overvoltage detection that lets it respond when abnormally high voltage is supplied continuously.

Another key advantage is that the module works with existing compact earth-leakage circuit breaker designs. It was designed around standard PCB dimensions, mounting methods and trip coil connections, so manufacturers can add it without external protection devices or major mechanical redesigns. Circuit breaker and power strip manufacturers can expand protection features and set their products apart while keeping their existing product designs.

JOAM INNOTECH is taking a phased approach to development and commercialization. The company has been mass-producing and supplying overcurrent protection PCBs since late 2024, building up its manufacturing capabilities. In April 2026, it filed a Korean patent application for its overvoltage protection technology, and in May it built prototypes of the integrated protection module and ran initial performance tests. Next, the company plans to run application tests in finished products, verify reliability and set mass-production inspection standards to prepare for commercialization.

“We developed this integrated protection PCB module to add overvoltage protection while keeping the structural advantages of existing compact earth-leakage circuit breakers,” said a JOAM INNOTECH spokesperson. “We will keep advancing the technology and verifying its reliability to strengthen our competitiveness, and we aim to create new business opportunities in the global electrical safety market as well as in Korea.”

JOAM INNOTECH CO., LTD
John B. H. Lee
LBH0917@gmail.com

View original content:https://www.prnewswire.com/apac/news-releases/joam-innotech-accelerates-global-expansion-with-integrated-protection-pcb-technology-302935767.html

SOURCE JOAM INNOTECH CO., LTD

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