Aecon records “solid” half-year results

By Joe Malone04 August 2016

Canadian construction company Aecon has recorded half-year revenues of CA$ 1.53 billion – a rise of 31% compared to the same period a year ago.

The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) was, however, down 7.6% on the same period in 2015 to CA$ 33.6 million.

The company noted its record backlog of CA$ 4.9 billion for the second quarter of 2016 as a highlight, which almost doubles that of a year ago, which stood at CA$ 2.6 billion.

“Aecon’s strong results for the second quarter of 2016, plus a new record backlog position of CA$ 4.9 billion, round out a solid first half of the year,” said Teri McKibbon, President and CEO of Aecon.

“While oil and commodity markets across Canada remain challenging in the current resource price environment, Aecon’s strong backlog position and diverse and flexible business model, combined with a strong commitment to increase infrastructure spending by all levels of government across Canada, bode well for Aecon’s ability to continue to make progress.”

The company’s infrastructure sector recorded revenues of CA$ 269 million, which is an increase of 20% year-on-year. The company said the largest increase occurred in heavy civil operations, due to continued ramp up on new projects in Ontario and Western Canada.

It said that revenue was also higher in transportation operations due to a higher volume of road building work in Ontario.

Aecon added that those increases were partially offset by lower revenue in water operations in Western Canada.

Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
10 ways to join the hydrogen power revolution
Interest in the use of hydrogen has soared over the past few years as the construction industry races to reduce its carbon footprint. We roundup some recent initiatives
Telescopic boom lifts - the trends
Higher capacities and 100% electric models are the trend. And what lies ahead for 200ft models, or above?
How construction can become sustainable
The construction industry is undergoing a transformative shift to adapt more environmentally friendly practices
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail:
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: