Q4 and Full Year 2023 Investor Presentation
Risk Balanced, Highly Collaborative, Diverse Backlog Mix
Future performance visibility supported by the robust combined backlog, characterized by accretive
embedded margins and significant multi-year recurring revenue MSAs
62%
Backlog expected
to convert into
Revenue over the
~75%
Collaborative delivery
models in Backlog and
Pending Backlog
next 12 months
in millions of
Canadian dollars
$6,000
$5,000
-24%
5 Year
CAGR
$1,100
•
$900
$1,907
$800
$4,000
$600
$825
$1,590
$1,036
$3,000
$2,000
$625
$3,448
$3,003
$2,682
$2,637
$1,000
$1,547
$0
2019
2020
2021
2022
2023
■Backlog
■Pending Backlog
■Recurring Revenue
Q4 and Full Year 2023 Investor Presentation
bird
~$1.1B in Recurring Revenue Contracts:
MSAs and other multi-year recurring contracts represent a recurring
revenue stream over the next one to seven years.
•
Supports longer-term visibility to profitability and growth outlook
Diversified in oil & gas, energy, nuclear, and mining sectors
Added $130 million through January 2024 NorCan acquisition (subsequent to
the year-end)
Benefits of Collaborative Delivery Models
Reduce Risk
Increase Value
Build Better
Full transparency on
project costs
Project costs not at risk
Upfront work drives quality,
efficiency and reduces
constructability risk
Improved project efficiency,
bringing schedule and cost
value to the client
Incentivizes all partners to
achieve project goals
Higher quality outcomes
from combined expertise
•
•
Gain share, pain share
driving high performance
and innovation solutions
Better conflict
resolution/collaborative
problem solving
Stronger relationships
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