STRONG FOURTH-QUARTER RESULTS AND SUSTAINED ACQUISITION ACTIVITY

10 acquisitions generating additional annual sales of $100 million Richelieu’s 100th acquisition in its history

Highlights of the fourth quarter ended November 30, 2025

Sales of $510.9 million, an increase of 7.3%, including 4.1% internal growth and 3.2% from acquisitions.
EBITDA of $59.2 million, an increase of 9.1% – EBITDA margin of 11.6%.
Net earnings attributable to shareholders of $25.6 million, or $0.46 per diluted share, an increase of 4.5%.
Cash flows from operating activities of $68.7 million.

2025 fiscal year

Sales of $1.96 billion, an increase of 7.2%.
EBITDA of $213.9 million, an increase of 6.2% – EBITDA margin of 10.9%.
Net earnings attributable to shareholders of $85.8 million, or $1.55 per diluted share, an increase of 1.3%.
Cash flows from operating activities of $202.4 million.
Strong and sound financial position as at November 30, 2025, with a working capital of $624.0 million (ratio 3.3:1).

Acquisitions

Fiscal year 2025: 9 acquisitions (U.S. and Canada), including 3 in the fourth quarter (Canada).
After November 30, 2025: acquisition of 3 distribution centres (Portland, Seattle, and Spokane) from McKillican American — the 10th acquisition since December 2024 and Richelieu’s 100th acquisition in its history.

A 2.2% increase in the quarterly dividend, which rises to $0.1566 per share for the first quarter of 2026.

MONTREAL, Jan. 15, 2026 /CNW/ – “For Richelieu, 2025 was a year of sustained growth, with sales reaching $1.96 billion. Over the past thirteen months, we completed ten acquisitions in North America, representing additional annual sales of $100 million. The most recent acquisition, completed after year-end, is also Richelieu’s 100th acquisition in its history. Moreover, our 4th quarter and full-year results reflect good progress across our market segments in North America. Our operations generated cash flows of $68.7 million in the last quarter, including a $30 million reduction in inventories, and positive cash flows of $202.4 million for the full year. Benefiting from our strong balance sheet, our leadership position, and the expertise of our team, we will continue to focus on our innovation and acquisition strategies to seize opportunities, help evolve our markets, and drive growth,” said Richard Lord, President and Chief Executive Officer.

“We are maintaining our proactive market development strategy and will continue to invest in value creation in the short and long term. I am particularly proud of the acquisitions of Ideal Security and Klassen Bronze, which expand our private brand portfolio, bringing the total to ten brands in the retailers and renovation superstores market Segment. These additions strengthen our position in this strategic segment and fully align with our “one-stop shop” strategy, to the benefit of our partners and customers. They also support the growth of our private brands and exclusive products. It is worth noting that our private brands and exclusive products intended for manufacturers and retailers represent a significant proportion of our sales” added Richard Lord.

Three acquisitions were completed in Canada in the fourth quarter and one in the United States after November 30, 2025, representing the 10th acquisition since December 1, 2024.

On September 2, 2025, the acquisition of Ideal Security, a Canadian distributor located in the Greater Montreal area, QC, whose specialized hardware products for doors and windows are sold to the hardware retailers and renovation superstores market.
On October 1, 2025, the acquisition of Finmac Lumber, a distributor of specialized wood products, located in Winnipeg, MB, in Western Canada.
On October 29, 2025, the acquisition of Klassen Bronze, offering a broad range of letters, numbers, mailboxes, signage, and keys of all kinds, primarily serving the hardware retailers and renovation superstores market.
On December 12, 2025, acquisition of McKillican American’s three distribution centres specializing in hardware and building materials, located in Portland, OR, Seattle, and Spokane, WA.

New Private Brands Targeting the Retailers and Renovation Superstores Market Segment: with the acquisitions of Ideal Security and Klassen Bronze, Richelieu is expanding its portfolio of private brands aimed at the retailers and renovation superstores market, bringing the total number of private brands to 10 and further strengthening its position in this market. These new developments are part of the Corporation’s “one-stop shop” strategy, supported by its service centres in Calgary for Western Canada, Kitchener for Eastern Canada, and Chicago for the United States.

It should be noted that six acquisitions were completed during the first nine months of the fiscal year, two of which were in Canada— Mill Supply (NS and PEI) and Les Industries Camcoat (QC). The other four were completed in the United States: Darant Distributing (CO), Midwest Specialty Products (MN), Modulex Partition (NJ), and Rhoads & O’Hara Architectural Products (NJ).

ANALYSIS OF OPERATING RESULTS FOR THE YEAR ENDED NOVEMBER 30, 2025, COMPARED WITH THE YEAR ENDED NOVEMBER 30, 2024

Consolidated sales
The following table provides an overview of Richelieu’s sales in its two main markets for the years ended November 30, 2025 and 2024 :

Consolidated sales reached $1.96 billion, an increase of $131.8 million or 7.2% over last year, of which 3.2% from acquisitions and 4.0% from internal growth. Internal growth in the U.S. manufacturers’ market was supported by higher selling prices. Part of this internal growth came from price adjustments applied to reflect the customs tariffs, representing a cost pass-through with no impact on gross margin. In currency comparable to that of the 2024 financial year, the growth in consolidated sales for the year ended November 30, 2025, would have been 5.9%.

Earnings before interest, income taxes, and amortization (EBITDA) totalled $213.9 million, up by $12.5 million or 6.2% over 2024. This growth was mainly driven by higher sales. Therefore, EBITDA margin stood at 10.9%, compared with 11.0% for 2024.

Amortization expenses amounted to $75.9 million, compared with $68.9 million for 2024, an increase of $7.0 million. This increase is primarily attributable to the growth in right-of-use assets related to lease renewals and recent business acquisitions. Net financial costs were $14.3 million, compared to $11.7 million, an increase of $2.6 million due to higher interest expenses resulting from the increase in lease obligations. Income taxes amounted to $33.1 million, an increase of $1.8 million over 2024.

Net earnings were up by 1.2%. Considering non-controlling interests, net earnings attributable to shareholders of the Corporation totalled $85.8 million, a growth of 0.1% compared to 2024. Net earnings per share amounted to $1.55 basic and diluted, compared with $1.54 basic and $1.53 diluted for 2024, an increase of 0.6% and 1.3% respectively.

FOURTH QUARTER ENDED NOVEMBER 30, 2025

Consolidated sales
The following table provides an overview of Richelieu’s sales in its two main markets for the quarters ended November 30, 2025 and 2024 :

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