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August 29, 2015 2:13 AM ET

Construction and Engineering

Company Overview of Aecon Mining

Company Overview

Aecon Mining provides construction services for oil sands clients in Canada. The company specializes in mining, environmental reclamation, project management, overburden removal, civil and road construction, mechanical, and general contracting services. The company was formerly known as Cow Harbour Construction Ltd. As a result of the acquisition of Cow Harbour Construction Ltd. by Aecon Construction Group Inc., Cow Harbour Construction Ltd. changed its name to Aecon Mining. The company was founded in 1987 and is based in Fort McMurray, Canada. As of August 26, 2010, Aecon Mining operates as a subsidiary of Aecon Construction Group Inc.

316 MacKay Crescent

Fort McMurray, AB T9H 4E4

Canada

Founded in 1987

Key Executives for Aecon Mining

Chief Executive Officer and President
Vice President of Operations
Compensation as of Fiscal Year 2015.

Aecon Mining Key Developments

Aecon Mining Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Aecon Mining reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of CAD 147.7 million against CAD 106.9 million a year ago. Operating profit was CAD 4.4 million against operating loss of CAD 9.6 million a year ago. Adjusted EBITDA was CAD 11.0 million against adjusted LBITDA of CAD 3.7 million a year ago. Revenue was CAD 41 million, or 38%, higher than in the same period in 2014. The majority of the increase was due to a higher volume of site installation work in the commodity mining sector largely from potash projects. Operating profit was improved by CAD 14.0 million when compared to an operating loss of CAD 9.6 million in the same period in 2014. Operating profit improved in all three sectors within the Mining segment in the second quarter. Operating profit in the commodity mining sector increased when compared to the same period last year due to higher volume and higher gross profit margin, and operating profit in contract mining operations increased due to higher gross profit margin as a result of a more favourable mix of work and better site conditions for unit rate reclamation work when compared to the same period in 2014. For the six months, the company reported revenues of CAD 285.3 million against CAD 214.4 million a year ago. Operating profit was CAD 16.7 million against operating loss of CAD 5.2 million a year ago. Adjusted EBITDA was CAD 31.7 million against CAD 8.2 million a year ago.

Aecon Mining Announces Earnings Results for the First Quarter Ended March 31, 2015

Aecon Mining announced earnings results for the first quarter ended March 31, 2015. In the quarter, revenue of $138 million was $30 million higher than the same period in 2014. Most of this increase was from a higher volume of site installation work in the commodity mining sector. Operating profit of $12.3 million for the first quarter of 2015 was $8 million higher than the first quarter of 2014 due primarily to higher volume and gross profit margin from site installation work in the commodity mining sector.

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