Aecon to hold information meeting with analysts

TORONTO, April 26, 2013 /CNW/ - Aecon Group Inc. (TSX: ARE) will host an 
information meeting today for analysts to update them and the investment 
community of the Company's recently simplified organizational structure, 
management appointments, reporting segments for 2013, and adoption of IFRS 11 
concerning accounting of joint arrangements. 
Consistent with its business strategy to focus on its core market sectors, the 
Company announced that it will be reporting 2013 financial performance on the 
basis of four segments: Infrastructure, Energy, Mining and Concessions. 
Previously, Aecon reported its results within three segments: Infrastructure, 
Industrial and Concessions. (The 2012 comparable results realigned to the 
revised 2013 segments are included as background information to this press 
release.) 
"Our organizational structure now fully reflects our business strategy and we 
expect greater alignment of our offering of comprehensive construction 
services to meet the needs of our clients across Canada," said John M. Beck, 
Chairman and CEO, Aecon Group Inc. "We will continue to be focused on 
execution and disciplined about reaching our target of 9 per cent EBITDA in 
2015." 
As part of its simplified and refined organizational structure, Aecon has made 
the following management appointments: 


    --  Mark Rivett, previously Aecon's Senior Vice President of
        Transportation has become Executive Vice President of Aecon's
        Infrastructure segment.  As one of Canada's leading
        construction executives, Mr. Rivett is responsible for all of
        Aecon's transportation-related services, as well as the Heavy
        Civil and Social Infrastructure businesses;
    --  Phil Ward, previously head of the Lockerbie & Hole Eastern
        division, is now Executive Vice President of Aecon Mining.  A
        highly regarded and experienced veteran in the construction
        industry, Mr. Ward will lead the segment which consolidates the
        Company's contract mining services alongside its mining
        installations capabilities spanning the scope of a project's
        life cycle from resource extraction, to processing and
        reclamation.
    --  An executive search is well underway to fill the new position
        of Executive Vice President, Aecon Energy.  This position will
        be responsible for the full suite of services to the energy
        sector including oil and gas, power generation (nuclear,
        co-gen, thermal, and renewable), utilities (including pipelines
        and transmission), and energy support services.

In addition, Aecon appointed Vincent Borg as Senior Vice President, Corporate 
Affairs, and Roger Howarth as Senior Vice President, Project Controls. The 
Company recently named Paula Palma as Chief Information Officer.

Mr. Beck added: "We welcome these experienced professionals to our management 
team and are pleased to be attracting individuals of this calibre."

Aecon has adopted a new accounting standard, IFRS 11, concerning accounting of 
joint arrangements which became effective January 1, 2013. This standard 
requires joint arrangements to be classified as either joint ventures or joint 
operations. The only significant joint venture to be affected by IFRS 11 is 
the Company's interest in the Quiport JV operating the new Quito airport. 
This interest will be accounted for as an equity investment going forward as 
opposed to previously being reported on a proportionate consolidation basis.

The slide presentation used by David Smales, Aecon's EVP and Chief Financial 
Officer, for the information meeting with analysts is posted on Aecon's 
website under investors: www.aecon/analystmeetingapril2013.

Aecon Group Inc. is a Canadian leader in construction and infrastructure 
development providing integrated turnkey services to private and public sector 
clients. Aecon is pleased to be consistently recognized as one of the Best 
Employers in Canada.

The information in this press release includes certain forward-looking 
statements. These "forward-looking" statements are based on currently 
available competitive, financial and economic data and operating plans but are 
subject to risks and uncertainties. In addition to events beyond Aecon's 
control, there are factors which could cause actual or future results, 
performance or achievements to differ materially from those expressed or 
inferred herein including, but not limited to: the timing of projects, 
unanticipated costs and expenses, general market and industry conditions and 
operational and reputational risks, including Large Project Risk and 
Contractual Factors. Readers are referred to the specific risk factors 
relating to and affecting Aecon's business and operations as filed by Aecon 
pursuant to applicable securities laws. Forward-looking statements may 
include, without limitation, statements regarding the operations, business, 
performance, prospects, strategies and outlook for Aecon. Forward-looking 
statements, may in some cases be identified by words such as "will," "plans," 
"believes," "expects," "anticipates," "estimates," "projects," "intends," 
"should" or the negative of these terms, or similar expressions. Except as 
required by applicable securities laws, forward-looking statements speak only 
as of the date on which they are made and Aecon undertakes no obligation to 
publicly update or revise any forward-looking statement, whether as a result 
of new information, future events or otherwise.
                                   New EBITDA definition
                                                                

$ millions               Q1 2012 Q2 2012 Q3 2012 Q4 2012 FY 2012

EBITDA (as previously        0.4    25.9    69.0    78.1   173.3
reported)

Adjusted EBITDA (as        (0.2)    25.9    68.7    78.0   172.4
previously reported)

EBITDA (NEW definition)    (0.4)    25.8    68.6    77.9   171.9
                                                                

EBITDA Margin (as           0.1%    3.9%    8.3%    8.2%    5.9%
previously reported)

Adjusted EBITDA Margin      0.0%    3.9%    8.2%    8.2%    5.9%
(as previously reported)

EBITDA Margin (NEW        (0.1)%    4.0%    8.4%    8.4%    6.0%
definition)
       2012 Full Year Results Restated to Conform with 2013 Reporting Segments
                                                                             

$                                                    Other and
millions  Infrastructure Energy  Mining Concessions Eliminations Consolidated

Revenue          1,195.0 1,018.9  676.7         2.9        (6.4)      2,887.1

Gross               62.7   123.6   97.5       (4.9)            -        278.9
Profit

EBITDA*             21.2    63.2   85.8        28.1       (26.4)        171.9

Operating


                 5.7    50.4   61.3        33.2       (33.3)        117.3
Profit 
                                                                          
EBITDA              1.8%    6.2%  12.7%         n/a          n/a         6.0%
Margin* 
Backlog            1,120     997    311           -            -        2,428 
*Based on new EBITDA definition 
Vince Borg Senior Vice President, Corporate Affairs Aecon Group Inc. 
416-297-2615 vborg@aecon.com www.aecon.com 
SOURCE: Aecon Group Inc. 
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CO: Aecon Group Inc.
ST: Ontario
NI: CST 2575 WNEWS  
-0- Apr/26/2013 15:15 GMT
 
 
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