2022 Sustainability Report - Building a Sustainable Future
Construction Q3 2023 Results (continued)
Q3 2022 TTM results include net benefit from the Canada Emergency Wage Subsidy ("CEWS") program of $4.1M
Q3 2023*
Adjusted EBITDAⓇ down by $65M, or 80%, quarter-over-quarter and
Operating Profit down by $62M, or 98%, quarter-over-quarter
Lower gross profit in civil operations due to negative gross profit of $41.6 million in the third quarter
of 2023 from one of the four fixed price legacy projects versus a gross profit of $1.0 million in the
same period in 2022 from the same project.+
Negative gross profit of $49.5 million from one of the four fixed price legacy projects in urban
transportation solutions compared to a negative gross profit of $22.5 million in the same period last
year from the same project.+
ACCON
* Totals and variances may not add due to rounding.
This is a non-GAAP financial measure. Refer to page 2 in this presentation.
See Section 5 "Recent Developments" and Section 10.2 "Contingencies" in the Q3 2023 MD&A and Section 13 "Risk Factors" in the 2022 Annual MD&A.
Q3 2023 TTM*
Adj. EBITDA ($M)
Adj. EBITDA ($M)
-80%
-52%
$82
$192
$92
$17
Q3 2022
(6.3% margin)
Q3 2023
(1.4% margin)
Q3 2022 TTM
Q3 2023 TTM
(4.3% margin)
(2.0% margin)
Operating Profit ($M)
Operating Profit ($M)
$116
$63
-98%
-54%
$54
$1
Q3 2022 TTM
Q3 2023 TTM
Q3 2022
(4.9% margin)
Q3 2023
(0.1% margin)
(2.6% margin)
(1.1% margin)
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