Q4 2025 Aecon Group Inc Earnings Call Transcript
Key Points
- Aecon Group Inc (AEGXF) achieved record revenue of $5.4 billion in 2025, marking a 28% increase over 2024.
- The company reported a significant backlog addition of $9.5 billion, with a record year-end backlog of $10.7 billion.
- Aecon Group Inc (AEGXF) delivered its strongest safety performance in over five years, maintaining disciplined risk management.
- The company advanced its nuclear leadership in North America, notably with the partnership selection for the G7 first grid-scale small modular reactor at the Darlington Nuclear Generating Station.
- Aecon Group Inc (AEGXF) expanded strategically through acquisitions, including Bodell Construction, Trinity Industrial Services, and KPC Power and Electrical Services.
- Adjusted EBITDA and operating profit in 2025 were negatively impacted by $94 million in legacy project losses.
- Concessions adjusted EBITDA for the year decreased to $57 million from $87 million last year, driven by lower income from O&M activities.
- The company faced challenges in the regulatory environment in Canada, affecting its utility business.
- Despite the strong backlog, the company does not anticipate the same level of bookings in 2026 as achieved in 2025.
- Aecon Group Inc (AEGXF) continues to manage legacy project impacts, with $6 million in negative impact reported in the quarter.
Good day, and thank you for standing by. Welcome to the Q4 2025 Aecon Group Inc earnings call. (Operator Instructions). Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Adam Borgatti, Senior Vice President of Corporate Development and Investor Relations. Please go ahead.
Thank you, Dede. Good morning, everyone, and thanks for participating in our year-end 2025, results conference call. Joining me today are Jean-Louis Servranckx, President and CEO; Jerome Julier, Executive Vice President and CFO; and Alistair MacCallum, Senior Vice President, Finance.
Our earnings announcement was released yesterday evening, and we posted a slide presentation on our website, which we'll refer to during this call.
Following our call, we'll be glad to take questions from the analysts and we ask analysts to keep to one question and a follow-up before getting back into the
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