Infrastructure and sustainability ‘megatrends’ propel Aecom to $11bn revenue
15 November 2023
Aecom saw its revenue for its 2023 financial year increase 10% to $11 billion, as it hailed growth driven by “megatrends” of investment in infrastructure, sustainability and the energy transition.
The engineering and consultancy company made full-year adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) of $964 million, which was ahead of Aecom’s original guidance.
Backlog in Aecom’s design business increased by 12% to a record high, driven by its global water, transportation and environment businesses.
In its guidance for 2024, Aecom said it expected adjusted operating margin of 15.9%, up 90 basis points from 2023 and organic growth in net service revenue of 8%-10%.
The company’s chief executive Troy Rudd said, “We have focused our capital and technical expertise on the fastest-growing markets around the globe, which has resulted in a record win rate on the highest-returning opportunities.
“We have built an enviable leadership position and competitive advantage to fully capitalize on robust end market growth ahead.”
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