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29.10.2021 06:30
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SNC-Lavalin Reports Third Quarter 2021 Results
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Canada NewsWire
MONTREAL, Oct. 29, 2021
- SNCL Engineering Services revenue of $1.5 billion, an organic growth of 2.2%, or 4.2% based on constant currency(1), compared to Q3 2020
- SNCL-Engineering Services Segment Adjusted EBIT(2) of $145.0 million, representing a 9.8% margin, in line with Q3 2020
- Segment Adjusted EBIT to segment revenue ratio(3) of 9.4%, 16.3% and 6.6% for EDPM, Nuclear and Infrastructure Services, respectively
- Net income from continuing operations attributable to SNC-Lavalin shareholders of $18.6 million, or $0.11 per diluted share, compared to a net loss of $8.8 million, or $(0.05) in Q3 2020
- Net income from discontinued operations of $582.1 million, which include a gain on disposal of the Oil & Gas business of $577.8 million, mainly due to the reclassification to net income of the cumulative exchange differences on translating foreign operations upon disposal of such operations
- SNCL Engineering Services backlog reached $11.1 billion, an increase of 3.7% compared to September 30, 2020; LSTK construction backlog reduced by $235.8 million from the prior quarter
- Reaffirming outlook of SNCL Engineering Services revenue for full year 2021 to increase by a low single digit percentage, compared to 2020, and tightening outlook of SNCL Engineering Services Segment Adjusted EBIT to segment revenue ratio(3) to be between 9.0% and 9.5%
MONTREAL, Oct. 29, 2021 /CNW Telbec/ - SNC-Lavalin Group Inc. (TSX: SNC), a fully integrated professional services and project management company with offices around the world, today announced its results for the third quarter ended September 30, 2021.
"I am pleased to share that the Company delivered another quarter of solid performance, building on our year-to-date momentum, and once again led by strong financial results from our SNCL Engineering Services line of business. Across the portfolio, our execution remains sound. SNCL Engineering Services' strong performance through the first three quarters of the year has been in-line with our expectations, positioning us to achieve our full year financial outlook. At the same time, we continue to progress winding down our remaining LSTK contracts and have reduced the LSTK construction contracts backlog more than 65% over the last two years," said Ian L. Edwards, President and CEO of SNC-Lavalin Group Inc. "We have established a solid foundation for the Company focusing on our core businesses with an emphasis on delivering revenue growth and positive free cash flow. Our financial performance thus far in 2021 supports the progress we are making and positions us to execute on our "Pivoting to Growth Strategy".
IFRS Financial Highlights
| | Q3 2021 | Q3 2020A | YTD 2021B | YTD 2020A, B |
| Revenue | | | | |
| From PS&PM | 1,781,395 | 1,742,206 | 5,357,405 | 5,202,848 |
| From Capital | 27,383 | 38,894 | 68,901 | 106,724 |
| Total | 1,808,778 | 1,781,100 | 5,426,306 | 5,309,572 |
| Attributable to SNC-Lavalin Shareholders | | | | |
| Net income (loss) from continuing operations: | | | | |
| From PS&PM | 7,763 | (34,354) | 94,918 | (45,259) |
| From Capital | 10,815 | 25,506 | 20,595 | 12,062 |
| Total | 18,578 | (8,848) | 115,513 | (33,197) |
| Diluted EPS from continuing operations: | | | | |
| From PS&PM ($) | 0.04 | (0.20) | 0.54 | (0.26) |
| From Capital ($) | 0.06 | 0.15 | 0.12 | 0.07 |
| Total ($) | 0.11 | (0.05) | 0.66 | (0.19) |
| | | | | |
| Net income (loss) from discontinued operations | 582,111 | (76,277) | 603,936 | (229,539) |
| Net income (loss) | 600,689 | (85,125) | 719,449 | (262,736) |
| Net cash generated from (used for) operating activities | (64,962) | (136,293) | 18,774 | 16,879 |
| Backlog from continuing operations as at September 30 | | | 12,757,100 | 13,208,900 |
Non-IFRS Financial Highlights
| | Q3 2021 | Q3 2020A | YTD 2021B | YTD 2020A, B |
| Attributable to SNC-Lavalin shareholders | | | | |
| Adjusted net income (loss) from PS&PM(5) | 40,434 | (2,472) | 177,623 | 80,282 |
| Adjusted diluted EPS from PS&PM(6) ($) | 0.23 | (0.01) | 1.01 | 0.46 |
| Adjusted EBITDA from PS&PM(4) | 115,840 | 140,287 | 428,875 | 358,971 |
| Adjusted EBITDA from PS&PM to revenue from PS&PM ratio(9) | 6.5% | 8.1% Werbung Mehr Nachrichten zur State National Companies Inc Aktie kostenlos abonnieren
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