Taiga Building Products Ltd. ("Taiga" or the "Company") today reported its financial results for the year ended December 31, 2024.

Fourth Quarter Ended December 31, 2024 Earnings Results

The Company's consolidated net sales for the quarter ended December 31, 2024 were $389.0 million compared to $367.7 million over the same quarter last year.  The increase in sales by $21.3 million was due to the marginally higher commodity prices throughout the quarter.

Gross margin for the quarter ended December 31, 2024 decreased to $41.3 million from $42.4 million over the same quarter last year. The decrease in gross margin was primarily due to higher costs of products during the quarter.

Net earnings for the quarter ended December 31, 2024 decreased to $6.6 million compared to $9.4 million over the same period last year primarily due to increased taxes payable for the quarter.    

EBITDA for the quarter ended December 31, 2024 was $15.7 million compared to $13.1 million for the same period last year.

Year Ended December 31, 2024 Earnings Results

Sales for the year ended December 31, 2024 were $1,634.4 million compared to $1,679.7 million in the prior year. The decrease in sales was largely due the Company selling lower volumes of commodity products during the year.

Gross margin for the year ended December 31, 2024 decreased to $173.3 million from $198.4 million in the prior year. The decrease in gross margin was primarily due to lower volumes of commodity products being sold during the year.

Net earnings for the year ended December 31, 2024 were $47.6 million compared to $61.3 million in the prior year. The decrease in net earnings was primarily due to decreased gross margin during the year.

EBITDA for the year ended December 31, 2024 was $79.8 million compared to $91.3 million in the prior year. EBITDA decreased primarily due to lower margins earned during the period.

Consolidated Statement of Earnings

For the Three Months Ended

The following is the reconciliation of net earnings to EBITDA: 

Consolidated Statement of Earnings

For the Year ended

The following is the reconciliation of net earnings to EBITDA:

The foregoing selected financial information is qualified in its entirety by and should be read in conjunction with our consolidated financial statements for the year ended December 31, 2024 and accompanying notes and management's discussion and analysis which will be available shortly on SEDAR+ at www.sedarplus.ca.

SOURCE Taiga Building Products Ltd.

SOURCE: Taiga Building Products Ltd.

For further information regarding Taiga, please contact: Mark Schneidereit-Hsu, CFO
and VP, Finance & Administration, Tel: 604.438.1471, Email:
mschneidereit@taigabuilding.com

COMTEX_463175821/2197/2025-02-27T17:00:00