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SNC-Lavalin grows backlog to $15.2 billion and reports second quarter results for 2018

02 August 2018 17:38 | Anonymous member (Administrator)

  • Reported Q2 2018 IFRS net income attributable to SNC-Lavalin shareholders of $83.0 million, or $0.47 per diluted share, which included a net expense of $88 million ($64.5 million after taxes) to settle the 2012 class action lawsuits. It also included a net gain on disposal of a Capital investment of $62.7 million ($58.4 million after taxes).
  • Q2 2018 adjusted net income from E&C(1) of $113.5 million, up 77.0%, (or $0.65 per diluted share, up 51.2%), compared to Q2 2017.
  • Reported Q2 2018 EBITDA of $187.8 million, compared to $174.0 million in Q2 2017.
  • Adjusted E&C EBITDA(7) more than doubled to $189.7 million, compared to $86.8 million in Q2 2017.
    • Continued strong adjusted E&C EBITDA(7) margin performance of 7.7% in Q2 2018, up from 4.6% in Q2 2017. 
  • Strong backlog(8) of $15.2 billion at the end of June 2018, compared to $10.4 billion at year end, up 45.8%. 
  • 2018 Outlook maintained: adjusted diluted EPS from E&C(2) in the range of $2.60 to $2.85 and adjusted consolidated diluted EPS(5) in the range of $3.60 to $3.85.
“We are very pleased with our first six months performance, which is in line with our expectations and reached a milestone of over $15 billion of backlog,” said Neil Bruce, President and Chief Executive Officer, SNC-Lavalin Group Inc. “We are entering the third quarter of 2018 with a strong backlog, a number of recently signed master service agreements and a high quality prospects list across our key sectors and geographies; poised for a strong second half of 2018. The integration of Atkins business continues to progress well and we have been able to share technologies, data and knowledge that is improving and broadening our services to clients.”  READ MORE.

Source: www.snclavalin.com

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