Aecon Group Inc. - ARE.t is a Canadian leader in construction and infrastructure development providing integrated turnkey services to private and public sector clients.
The company is an industry leader in some of the country's strongest growth sectors – transportation, resources, power, as well as social, manufacturing and urban infrastructure.
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On November 10, 2014 the company reported Numbers
"Aecon Group Inc. (TSX: ARE) today reported results for the third quarter of 2014, including backlog of $2.7 billion at the end of the third quarter, an increase of 28 per cent compared to the end of the same period in 2013.
“Aecon’s third quarter results were consistent with seasonally stronger results posted in the second half of the year for the construction industry in Canada. We anticipate that Aecon will complete 2014 with another year of solid financial performance through a continued focus on execution and margins,” said Teri McKibbon, President and Chief Executive Officer, Aecon Group Inc.
HIGHLIGHTS
•Revenue was $840 million for the third quarter of 2014 compared to $897 million for the same period of 2013, largely due to longer than anticipated ramp-up on new projects as a result of externally-driven delays.
•Adjusted EBITDA for the third quarter of 2014 was $76.5 million (margin of 9.1 per cent) compared to $79.5 million (margin of 8.9 per cent) for the third quarter of 2013.
•Profit for the third quarter of 2014 was $39.5 million ($0.49 EPS - diluted) compared to $34.4 million ($0.53 EPS - diluted) in the third quarter of 2013.
•Backlog of $2.7 billion at September 30, 2014 was 28 per cent higher than the $2.1 billion at the end of the third quarter of 2013.
•New contract awards of $818 million were booked in the third quarter of 2014 compared to $772 million in the same period of 2013.
•New contract awards of $2,787 million were booked in the first nine months of 2014 compared to $1,824 million in the same period of 2013, an increase of 53 per cent
•Subsequent to quarter end, Aecon announced a mining contract for approximately $200 million for the K+S Potash Canada Legacy project in Saskatchewan.
•Aecon announced today that it has been awarded fabrication and module assembly work with a value of approximately $155 million for a major client in Alberta.
•For the eighth consecutive year, Aecon was named to the 50 Best Employers in Canada through the Aon Hewitt national survey published by Maclean’s magazine.
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