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ACCON Aecon reports first quarter 2021 results TORONTO , April 22 , 2021 / CNW / - Aecon Group Inc. ( TSX : ARE ) ( " Aecon " or the " Company " ) today reported results for the first quarter of 2021 with year - over - year increases in revenue and Adjusted EBITDA , and backlog of $ 5.9 billion as at March 31 , 2021 . " Aecon's first quarter results illustrate consistent performance with steady growth in revenue and Adjusted EBITDA , " said Jean - Louis Servranckx , President & Chief Executive Officer , Aecon Group Inc. " Over a year into the global pandemic , Aecon continues to harness the resiliency and agility embedded in our diverse business to successfully navigate a challenging operating environment . The overall outlook for 2021 remains positive as we safely and sustainably continue our drive to be the number one Canadian infrastructure company . " HIGHLIGHTS • Revenue for the three months ended March 31 , 2021 of $ 754 million was $ 7 million , or 1 per cent , higher compared to the same period in 2020 . • Adjusted EBITDA of $ 20.8 million for the first quarter ( margin of 2.8 per cent ) improved by $ 1.6 million compared to Adjusted EBITDA of $ 19.2 million ( margin of 2.6 per cent ) in the first quarter of 2020 . Operating loss of $ 10.2 million for the three months ended March 31 , 2021 compared to an operating loss of $ 9.7 million in the same period in 2020 . • Reported backlog as at March 31 , 2021 of $ 5,913 million compares to backlog of $ 6,454 million as at December 31 , 2020 . • On March 4 , 2021 , West End Connectors , a consortium comprised of Aecon , Dragados Canada and Ghella , was identified by Infrastructure Ontario and Metrolinx as the First Negotiations Proponent to design , build and finance the Eglinton Crosstown West Extension Advance Tunnel project in Toronto . Financial close is expected in the second quarter of 2021 , at which time the project will be added to Aecon's backlog . • The Gordie Howe International Bridge project was recognized by P3 Bulletin with a Gold Award for Environmental , Social , and Governance ( ESG ) Performance of the Year at the virtual P3 Awards 2020 , honouring the best in Public - Private Partnerships throughout the Americas . • Aecon's subsidiary Bermuda Skyport , operator of the L.F. Wade International Airport , received the 2021 DFNI Americas Award honouring the Airport in the Americas with the Most Supportive Approach to Retail , recognizing excellence in uncovering opportunities within the pandemic to support its retailers and demonstrate a culture committed to travel retail . • Subsequent to quarter end : 。 Aecon proudly celebrated the completion of the Gardiner Expressway Rehabilitation , Section 1 project in Toronto on April 11 , 2021 . 。 Aecon's second annual Sustainability Report - Building Better Together - was released on April 20 , outlining Aecon's progress and key accomplishments in responsible ESG practices . The report includes a comprehensive Greenhouse Gas ( GHG ) inventory and sets