Aecon reports record backlog of CAN $3.3 bn

02 March 2016

Canada’s largest public construction and infrastructure company, Aecon Group, has reported a record CA$ 3.3 billion (US$ 2.45 billion) backlog in its year-end report.

The company also reported progress on revenue, up 14% to CA$ 2.92 billion (US$ 2.17 billion) on a like-for-like basis, excluding dispositions.

Another positive note for Aecon was the successful completion of the sale of its interest in Quito airport, for gross proceeds of CA$ 292 million (US$ 217 million).

Subsequently, Aecon’s board of directors approved an increase in the annual dividend from 40 cents per share, to 46 cents per share.

Subsequent to its year-end figures, Aecon was awarded a CA$ 2.75 billion (US$ 2.04 billion) contract to work on a refurbishment project at the Darlington Nuclear Generating Station – the biggest single contract in the company’s history.

Aecon’s president and CEO, Teri McKibbon, said of the results, "The fourth quarter capped a year which saw revenue growth in each of energy, mining, and infrastructure, and further year-over-year improvement in consolidated adjusted EBITDA margin on a like-for-like basis, driven by a focus on both the pursuit of large-scale, sophisticated projects with key clients in our core end-markets, as well as strong and consistent execution performance."

Latest News
What construction law changes will there be across the EU and UK in 2024?
Construction ERP software experts have outlined the legal developments that may be in store for 2024 to help the industry prepare for what lies ahead
South Korea to pump $19 billion into chip sector amid global building frenzy
South Korea has announced that it will pump 26 trillion won (US$19 billion) into its chip manufacturing businesses, as semiconductor firms race to build facilities in ‘all-out warfare’
Tutor Perini bags $228.6 million airport terminal connectors contract
Tutor Perini’s subsidiary Tutor Perini Building Corp. has won a $228.6 million deal to build connectors between terminals at Fort Lauderdale-Hollywood International Airport, Florida