MONTREAL, May 15, 2024 /CNW/ - AtkinsRéalis [SNC-Lavalin Group Inc.] (TSX: ATRL), a fully integrated professional services and project management company with offices around the world, today announced its financial results for the first quarter ended March 31, 2024.
AtkinsRéalis reports a strong start of the year, delivering solid Q1 year-over-year increases in revenue, Segment Adjusted EBIT, Adjusted EBITDA and EPS, as well as positive operating cash flows. The Company's backlog continued to achieve record highs with strong increases in Engineering Services Regions and Nuclear.
"We continued our momentum from 2023 into the first quarter. Our financial results and increased backlog reflect our strong market position and the continued demand for our Engineering Services and Nuclear businesses. This great start to the year positions us well to deliver on our full year 2024 outlook," said Ian L. Edwards, President and CEO of AtkinsRéalis. "We have constructed a powerful, organic growth engine, enhanced by our new organizational structure, which we expect to fuel significant positive net cash from operations for the Company and which should continue to drive long-term shareholder value. This is an exciting time at AtkinsRéalis, and I want to thank our 38,000 employees for their dedication to helping create a better future for our planet and its people."
Q1 2024 Financial Highlights
(All results reflect comparisons to prior-year period of Q1 2023, except as otherwise indicated)
(Engineering Services Regions include the following reportable segments: Canada, United Kingdom & Ireland ("UKI"), United States & Latin America ("USLA") and Asia, Middle East & Australia ("AMEA"))
- AtkinsRéalis Services revenue(1) totaled $2.2 billion, an increase of 18.5%, or 19.1% on an organic revenue growth(2)(3) basis
- Engineering Services Regions revenue(1) totaled $1.7 billion, an increase of 16.9%, or 17.9% on an organic revenue growth(2)(3) basis, above the Company's full year outlook range, with strong organic revenue growth in Canada, USLA and AMEA
- Nuclear revenue totaled $298.6 million, an increase of 22.2%, or 20.9% on an organic revenue growth(2)(3) basis, above the Company's full year outlook range
- AtkinsRéalis Services Segment Adjusted EBIT(1) increased by 19.5% to $186.8 million
- Segment Adjusted EBIT for Engineering Services Regions(1) increased by 18.8% to $146.0 million, representing a Segment Adjusted EBITDA to segment net revenue ratio(2)(4) of 15.0%, an increase of 50 basis points and in line with the Company's full year outlook range
- Segment Adjusted EBIT for Nuclear increased by 19.2% to $39.0 million, representing a margin of 13.1%, in line with the Company's full year outlook range
- Segment Adjusted EBIT for LSTK Projects was negative $13.0 million
- Segment Adjusted EBIT for Capital was $1.1 million, compared to $11.6 million in Q1 2023, mainly due to a revised estimate on a financial asset held in one of the Company's investments
- Adjusted EBITDA from PS&PM(2) increased by 12.1% to $174.8 million from $155.9 million
- AtkinsRéalis Services backlog reached a new record-high and totaled $15.3 billion as at March 31, 2024, an increase of 26.4%. Backlog additions in Q1 2024 totaled $3.7 billion and included $1.4 billion for one specific Operations & Maintenance contract acquisition
- Net income attributable to AtkinsRéalis shareholders totaled $45.5 million, or $0.26 per diluted share, compared to $28.4 million, or $0.16 per diluted share in Q1 2023
- Adjusted net income attributable to AtkinsRéalis shareholders from PS&PM(2) totaled $73.8 million, or $0.42 per diluted share, compared to $55.4 million, or $0.32 per diluted share in Q1 2023
- Net cash generated from operating activities was $36.6 million
- Net limited recourse and recourse debt to Adjusted EBITDA ratio(2)(5) was 1.7 as at March 31, 2024 compared to 1.8 as at December 31, 2023
2024 Outlook
Nuclear organic revenue growth(2)(3) outlook for full year 2024 compared to 2023 raised to between 15% and 20%, from the previous range of between 12% and 15%, reflecting strong growth to date and confidence in continued demand, supported by a strong backlog.
Corporate selling, general and administrative expenses from PS&PM outlook for full year 2024 increased to approximately $130 million from the previous guidance of approximately $110 million, driven by higher long-term compensation costs primarily as a result of the significant share price rise.
All other financial outlook metrics for full year 2024, issued on March 1, 2024, in the Q4 2023 press release, are maintained.
First Quarter Financial Results
Professional Services & Project Management are collectively referred to as "PS&PM" to distinguish them from "Capital" activities. PS&PM groups together the Company's segments, namely Engineering Services Regions (Canada, United Kingdom & Ireland ("UKI"), United States & Latin America ("USLA"), and Asia, Middle East, & Australia ("AMEA")), Nuclear, Linxon, and Lump-Sum Turnkey ("LSTK") Projects, while Capital is its own reportable segment and separate from PS&PM.
The increase in net income attributable to AtkinsRéalis shareholders was mainly due to higher Segment Adjusted EBIT and lower net financial expenses, partially offset by higher corporate selling, general and administrative expenses primarily driven by higher long-term compensation costs.
IFRS Financial Highlights
Q1 2024A |
Q1 2023A |
|
Revenues |
||
From PS&PM |
2,257.7 |
2,006.7 |
From Capital |
6.6 |
16.3 |
2,264.3 |
2,023.1 |
|
Attributable to AtkinsRéalis shareholders |
||
Net income (loss): |
||
From PS&PM |
53.2 |
26.0 |
From Capital |
(7.7) |
2.4 |
45.5 |
28.4 |
|
Diluted EPS: |
||
From PS&PM ($) |
0.30 |
0.15 |
From Capital ($) |
(0.04) |
0.01 |
0.26 |
0.16 |
Non-IFRS Financial Highlights
Q1 2024A |
Q1 2023A |
||
Attributable to AtkinsRéalis shareholders |
|||
Adjusted net income from PS&PM(2) |
73.8 |
55.4 |
|
Adjusted diluted EPS from PS&PM(2)(6) ($) |
0.42 |
0.32 |
|
Adjusted EBITDA from PS&PM(2) |
174.8 |
155.9 |
Segment Performance
Q1 2024A |
Q1 2023A |
|
Segment revenues |
||
AtkinsRéalis Services |
||
Engineering Services Regions |
1,719.0 |
1,470.1 |
Nuclear |
298.6 |
244.3 |
Linxon |
158.8 |
121.5 |
Total |
2,176.4 |
1,835.9 |
LSTK Projects |
81.3 |
170.8 |
Capital |
6.6 |
16.3 |
2,264.3 |
2,023.1 |
|
Segment Adjusted EBIT |
||
AtkinsRéalis Services |
||
Engineering Services Regions |
146.0 |
122.9 |
Nuclear |
39.0 |
32.7 |
Linxon |
1.8 |
0.8 |
Total |
186.8 |
156.3 |
LSTK Projects |
(13.0) |
(9.2) |
Capital |
1.1 |
11.6 |
174.9 |
158.8 |
|
Backlog as at March 31 |
||
AtkinsRéalis Services |
||
Engineering Services Regions |
11,969.1 |
10,099.1 |
Nuclear |
1,844.2 |
985.8 |
Linxon |
1,457.2 |
994.4 |
Total |
15,270.5 |
12,079.3 |
LSTK Projects |
298.8 |
517.9 |
Capital |
24.5 |
29.3 |
15,593.8 |
12,626.5 |
All figures in millions of Canadian dollars, except as otherwise indicated |
Certain totals and subtotals may not reconcile due to rounding |
A For the three-month period ended March 31 |
Investor Day
AtkinsRéalis will host a hybrid Investor Day in Toronto, Canada on Thursday, June 13, 2024. The event will feature presentations from Ian L. Edwards, President and Chief Executive Officer, and Jeff Bell, Chief Financial Officer, alongside other members of the executive team. Building on the strong value creation from the 2022-2024 "Pivoting to Growth" strategy, the leadership team will unveil the Company's strategy and capital allocation framework for 2025-2027, including key initiatives for revenue growth and margin expansion. The Company will also showcase its globally diversified capabilities and dedication to engineering a better future for our planet and its people.
The event will commence at 8:30 a.m. (Eastern Time) and is expected to last about half a day. It will comprise formal presentations along with interactive Question & Answer panel sessions with senior leadership. The full agenda, the list of speakers and the presentation slides will be available on the Company's dedicated Investor Day 2024 webpage.
To participate in our Investor Day 2024 virtually, including the Question & Answer sessions, registration is required and can be completed in advance by clicking here.
Due to limited capacity, in-person attendance will be by invitation only.
A recording and a transcript of the webcast will be available and archived shortly after the conclusion of the event on the Investor Day 2024 and Investor's Briefcase web pages.
Quarterly Dividend
The Board of Directors today declared a cash dividend of $0.02 per share, unchanged from the previous quarter. The dividend is payable on June 12, 2024, to shareholders of record on May 29, 2024. This dividend is an "eligible dividend" for Canadian federal and provincial income tax purposes.
First Quarter 2024 Conference Call / Webcast
AtkinsRéalis will hold a conference call and audio webcast today at 8:00 a.m. (Eastern Time) to discuss and present its first quarter financial results. The live audio webcast of the conference call can be accessed through a link posted on the Company's website at www.atkinsrealis.com/en/investors. The call will also be accessible by telephone, for which an accompanying slide presentation can be accessed at www.atkinsrealis.com/en/investors/investor-essentials/investors-briefcase/2024.
Please dial toll free at 1 844 763 8274 in North America, dial 1 647 484 8814 outside North America, or dial +44 20 3795 9972 in the United Kingdom. A recording and a transcript of the conference call will be available on the Company's website within 24 hours following the call.
Annual Meeting of Shareholders
AtkinsRéalis' Annual Meeting of Shareholders (the "Meeting") will be held on Thursday, May 16, 2024, at 11:00 a.m. (Eastern Time). Registered shareholders as of the close of business on March 25, 2024 and duly appointed proxyholders of record are entitled to participate in the Meeting virtually at https://web.lumiagm.com/453602059, regardless of geographic location, and will have the opportunity to ask questions and vote, all in real time, provided they are connected to the internet and comply with all of the requirements set out in the proxy materials. Whether or not a shareholder plans to attend the Meeting, the Company urges all shareholders to vote and submit their proxy in advance of the Meeting by one of the methods described in the proxy materials provided to shareholders.
Additional information related to the Meeting can also be found in AtkinsRéalis' 2024 Management Proxy Circular which is available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com.
About AtkinsRéalis
Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-leading professional services and project management company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at www.atkinsrealis.com or follow us on LinkedIn.
Non-IFRS Financial Measures and Ratios, Supplementary Financial Measures, Total of Segments Measures and Non-Financial Information
The Company reports its financial results in accordance with International Financial Reporting Standards ("IFRS"). However, the following non‑IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information are used by the Company in this press release: Organic revenue growth (contraction), EBITDA, Adjusted EBITDA, Adjusted net income (loss) attributable to AtkinsRéalis shareholders, Adjusted diluted EPS, Segment Adjusted EBITDA to segment net revenue ratio, Segment net revenue, Net limited recourse and recourse debt to Adjusted EBITDA ratio and Net limited recourse and recourse debt as well as certain measures for various reportable segments that are grouped together, such as revenue for the various Engineering Services Regions segments and the various segments that comprise the AtkinsRéalis Services line of business. Additional details for these non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information can be found below and in Sections 4, 6 and 9 of the Company's Management's Discussion and Analysis ("MD&A") for the first quarter of 2024, which sections are incorporated by reference into this press release, filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section.
Non-IFRS financial measures and ratios, supplementary financial measures and non-financial information do not have any standardized meaning under IFRS and other issuers may define these measures differently and, accordingly, they may not be comparable to similar measures prepared by other issuers. Such non-IFRS financial measures and ratios, supplementary financial measures and non-financial information have limitations and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
However, management believes that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS financial measures and ratios and supplementary financial measures and non-financial information provide additional insight into the Company's operating performance and financial position and certain investors may use this information to evaluate the Company's performance from period to period. Furthermore, certain non-IFRS financial measures and ratios, certain additional IFRS measures and ratios, certain supplementary financial measures and other non-financial information are presented separately for PS&PM, by excluding components related to Capital, as the Company believes that such measures are useful as these PS&PM activities are usually analyzed separately by the Company. Reconciliations and calculations of non-IFRS measures and ratios to the most comparable IFRS measures and ratios are set forth below in the section "Reconciliations and Calculations" of this press release.
(1) |
Total of segments measure. |
(2) |
Non-IFRS financial measure or ratio or supplementary financial measure. |
(3) |
Organic revenue growth (contraction) is a non-IFRS ratio comparing organic revenue (which excludes foreign exchange and acquisition and disposal impacts), itself a non-IFRS financial measure, between two periods. |
(4) |
Segment Adjusted EBITDA to segment net revenue ratio for the Engineering Services Regions is a non-IFRS ratio based on Segment Adjusted EBITDA and segment net revenue, both of which are non-IFRS financial measures. |
(5) |
Net limited recourse and recourse debt to Adjusted EBITDA ratio is a non-IFRS ratio based on net limited recourse and recourse debt at the end of a given period and Adjusted EBITDA of the corresponding trailing twelve-month period, both of which are non-IFRS financial measures. |
(6) |
Adjusted diluted EPS is a non-IFRS ratio based on adjusted net income (loss) attributable to AtkinsRéalis shareholders, itself a non-IFRS financial measure. |
Reconciliations and Calculations
Reconciliation of Adjusted net income attributable to AtkinsRéalis shareholders from PS&PM to IFRS net income attributable to AtkinsRéalis shareholders
Q1 2024 |
Q1 2023 |
|||||||
Before Taxes |
Taxes |
After Taxes |
Diluted EPS (In $) |
Before Taxes |
Taxes |
After Taxes |
Diluted EPS (In $) |
|
Net income attributable to AtkinsRéalis shareholders (IFRS) |
45.5 |
0.26 |
28.4 |
0.16 |
||||
Restructuring and transformation costs |
4.6 |
(1.1) |
3.4 |
14.5 |
(1.7) |
12.8 |
||
Amortization of intangible assets related to business combinations |
20.9 |
(4.1) |
16.9 |
20.6 |
(4.0) |
16.5 |
||
Acquisition-related costs and integration costs |
0.3 |
- |
0.3 |
- |
- |
- |
||
Total adjustments |
25.8 |
(5.2) |
20.6 |
0.12 |
35.1 |
(5.7) |
29.4 |
0.17 |
Adjusted net income attributable to AtkinsRéalis shareholders (non-IFRS) |
66.1 |
0.38 |
57.8 |
0.33 |
||||
Net income (loss) attributable to AtkinsRéalis shareholders from Capital |
(7.7) |
(0.04) |
2.4 |
0.01 |
||||
Total adjustments |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted net income (loss) attributable to AtkinsRéalis shareholders from Capital (non-IFRS) |
(7.7) |
(0.04) |
2.4 |
0.01 |
||||
Adjusted net income attributable to AtkinsRéalis shareholders from PS&PM (non-IFRS) |
73.8 |
0.42 |
55.4 |
0.32 |
Note that certain totals and subtotals may not reconcile due to rounding |
All figures in millions of Canadian dollars, except as otherwise indicated |
Reconciliation of EBITDA and Adjusted EBITDA to IFRS net income (loss)
Q1 2024 |
Q1 2023 |
|||||
From PS&PM |
From Capital |
Total |
From PS&PM |
From Capital |
Total |
|
Net income (loss) |
54.2 |
(7.7) |
46.6 |
26.1 |
2.4 |
28.5 |
Net financial expenses |
36.5 |
1.5 |
38.0 |
45.7 |
1.7 |
47.4 |
Income tax expense |
17.3 |
0.3 |
17.6 |
11.1 |
0.5 |
11.6 |
EBIT |
108.1 |
(5.9) |
102.1 |
82.9 |
4.6 |
87.5 |
Depreciation and amortization |
61.9 |
- |
61.9 |
58.6 |
- |
58.6 |
EBITDA |
169.9 |
(5.9) |
164.0 |
141.4 |
4.6 |
146.0 |
Restructuring and transformation costs |
4.6 |
- |
4.6 |
14.5 |
- |
14.5 |
Acquisition-related costs and integration costs |
0.3 |
- |
0.3 |
- |
- |
- |
Adjusted EBITDA |
174.8 |
(5.9) |
168.9 |
155.9 |
4.6 |
160.5 |
Note that certain totals and subtotals may not reconcile due to rounding |
All figures in millions of Canadian dollars |
Reconciliation of Segment Adjusted EBIT to Segment Adjusted EBITDA for Engineering Services Regions
Q1 2024 |
Q1 2023 |
|
Segment Adjusted EBIT – Engineering Services Regions |
146.0 |
122.9 |
Depreciation and amortization – Engineering Services Regions |
30.8 |
28.9 |
Segment Adjusted EBITDA – Engineering Services Regions |
176.8 |
151.7 |
Note that certain totals and subtotals may not reconcile due to rounding |
All figures in millions of Canadian dollars |
Calculation of Segment net revenue and Segment Adjusted EBITDA to segment net revenue ratio for Engineering Services Regions
Q1 2024 |
Q1 2023 |
|
Revenue – Engineering Services Regions |
1,719.0 |
1,470.1 |
Less: Direct costs for sub-contractors and other direct expenses that are recoverable directly from clients – Engineering Services Regions |
543.4 |
420.7 |
Segment net revenue – Engineering Services Regions |
1,175.6 |
1,049.4 |
Segment Adjusted EBITDA – Engineering Services Regions |
176.8 |
151.7 |
Segment Adjusted EBITDA to segment net revenue ratio – Engineering Services Regions |
15.0 % |
14.5 % |
Engineering Services Regions comprises Canada, UKI, USLA and AMEA segments |
All figures in millions of Canadian dollars, except as otherwise indicated |
Calculation of organic revenue growth
Revenue Q1 2024 |
Revenue Q1 2023 |
Variance |
Foreign |
Acquisition / |
Organic |
|
Engineering Services Regions |
1,719.0 |
1,470.1 |
249.0 |
21.4 |
(35.5) |
263.0 |
Nuclear |
298.6 |
244.3 |
54.3 |
3.2 |
- |
51.1 |
Linxon |
158.8 |
121.5 |
37.3 |
1.1 |
- |
36.2 |
Total – AtkinsRéalis Services |
2,176.4 |
1,835.9 |
340.5 |
25.8 |
(35.5) |
350.3 |
Revenue Q1 2024 |
Revenue Q1 2023 |
Variance |
Foreign |
Acquisition / |
Organic |
|
Engineering Services Regions |
1,719.0 |
1,470.1 |
16.9 % |
1.5 % |
(2.4) % |
17.9 % |
Nuclear |
298.6 |
244.3 |
22.2 % |
1.3 % |
- |
20.9 % |
Linxon |
158.8 |
121.5 |
30.7 % |
0.9 % |
- |
29.7 % |
Total – AtkinsRéalis Services |
2,176.4 |
1,835.9 |
18.5 % |
1.4 % |
(1.9) % |
19.1 % |
Note that certain totals and subtotals may not reconcile due to rounding |
All figures in millions of Canadian dollars, except as otherwise indicated |
Calculation of Net limited recourse and recourse debt to Adjusted EBITDA ratio
March 31, 2024 |
|
Limited recourse debt |
398.5 |
Recourse debt |
1,491.4 |
Less: Cash and cash equivalents |
557.8 |
Net limited recourse and recourse debt |
1,332.1 |
Adjusted EBITDA (trailing 12 months) |
771.0 |
Net limited recourse and recourse debt to Adjusted EBITDA ratio |
1.7 |
All figures in millions of Canadian dollars, except as otherwise indicated |
Forward-Looking Statements
References in this press release, and hereafter, to the "Company", "AtkinsRéalis", "we", "us" and "our" mean, as the context may require, SNC-Lavalin Group Inc. and all or some of its subsidiaries or joint arrangements or associates, or SNC-Lavalin Group Inc. or one or more of its subsidiaries or joint arrangements or associates.
Statements made in this press release that describe the Company's or management's budgets, estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "aims", "anticipates", "assumes", "believes", "cost savings", "estimates", "expects", "forecasts", "goal", "intends", "likely", "may", "objective", "outlook", "plans", "projects", "should", "synergies", "target", "vision", "will", or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. Forward-looking statements also include statements relating to the following: i) future capital expenditures, revenues, expenses, earnings, economic performance, indebtedness, financial condition, losses, project- or contract-specific cost reforecasts and claims provisions, and future prospects; and ii) business and management strategies and the expansion and growth of the Company's operations. All such forward-looking statements are made pursuant to the "safe-harbour" provisions of applicable Canadian securities laws. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2023 Annual MD&A (particularly in the sections entitled "Critical Accounting Judgements and Key Sources of Estimation Uncertainty" and "How We Analyze and Report Our Results"). If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. These risks include, but are not limited to, matters relating to: (a) fixed-price contracts or the Company's failure to meet contractual schedule, performance requirements or to execute projects efficiently; (b) backlog and contracts with termination for convenience provisions; (c) contract awards and timing; (d) being a provider of services to government agencies; (e) international operations; (f) nuclear liability; (g) ownership interests in investments; (h) dependence on third parties; (i) supply chain disruptions; (j) joint arrangements and partnerships; (k) information systems and data and compliance with privacy legislation; (l) artificial intelligence ("AI") and other innovative technologies; (m) qualified personnel; (n) strategic direction; (o) competition; (p) professional liability or liability for faulty services; (q) monetary damages and penalties in connection with professional and engineering reports and opinions; (r) gaps in insurance coverage; (s) health and safety; (t) work stoppages, union negotiations and other labour matters; (u) epidemics, pandemics and other health crises; (v) global climate change, extreme weather conditions and the impact of natural or other disasters; (w) environmental, social and governance ("ESG"); * divestitures and the sale of significant assets; (y) intellectual property; (z) liquidity and financial position; (aa) indebtedness; (bb) impact of operating results and level of indebtedness on financial situation; (cc) security under the CDPQ Loan Agreement (as defined in the Company's 2024 first quarter MD&A); (dd) dependence on subsidiaries to help repay indebtedness; (ee) dividends; (ff) post-employment benefit obligations, including pension-related obligations; (gg) working capital requirements; (hh) collection from customers; (ii) impairment of goodwill and other non-current intangible and tangible assets; (jj) the impact on the Company of legal and regulatory proceedings, investigations and dispute settlements; (kk) employee, agent or partner misconduct or failure to comply with anti-corruption and other government laws and regulations; (ll) reputation of the Company; (mm) inherent limitations to the Company's control framework; (nn) environmental laws and regulations; (oo) global economic conditions; (pp) inflation; (qq) fluctuations in commodity prices; and (rr) income taxes.
The Company cautions that the foregoing list of factors is not exhaustive. For more information on risks and uncertainties, and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the sections "Risks and Uncertainties", "How We Analyze and Report Our Results" and "Critical Accounting Judgements and Key Sources of Estimation Uncertainty" in the Company's 2023 Annual MD&A and as updated in the first quarter 2024 MD&A filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section.
The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any written or oral forward-looking information or statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.
For More Information: |
|
Media |
Investors |
Harold Fortin |
Denis Jasmin |
Senior Director, Global External |
Vice President, Investor Relations |
Communications |
514-393-8000 ext. 57553 |
The Company's unaudited interim condensed consolidated financial statements for the three-month periods ended March 31, 2024 and 2023, together with its Management's Discussion and Analysis for the corresponding periods, can be accessed on the Company's website at www.atkinsrealis.com and on www.sedarplus.com.
SOURCE AtkinsRéalis
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