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Aecon reports second quarter 2021 results A aecon.com/press-room/news/2021/07/22/aecon-reports-second-quarter-2021-results Jul 22 , 2021 Toronto , Ontario – July 22 , 2021 : Aecon Group Inc. ( TSX : ARE ) ( " Aecon " or the " Company " ) today reported results for the second quarter of 2021 with significant year - over - year increases in revenue , Adjusted EBITDA , and earnings per share , with backlog of $ 6.5 billion as at June 30 , 2021 . " During the quarter , new awards of nearly $ 1.6 billion resulted from strong demand for Aecon's services across Canada in smaller and medium sized projects , and also incorporated a number of multi - year projects in the nuclear , civil operations and urban transportation systems , and industrial sectors - illustrating the diversity of Aecon's backlog by scale , duration , geography , and sector , " said Jean - Louis Servranckx , President & Chief Executive Officer , Aecon Group Inc. " Aecon's overall outlook for 2021 remains positive as construction continues on a number of projects that ramped up in 2019 and 2020 , backed by the level of backlog and new awards achieved during the first half of 2021 and the strong demand environment for Aecon's services going forward , including recurring revenue programs . " HIGHLIGHTS • Revenue for the three months ended June 30 , 2021 of $ 971 million was $ 192 million , or 25 per cent , higher compared to the same period in 2020 . Adjusted EBITDA of $ 61.3 million for the second quarter of 2021 ( margin of 6.3 per cent ) improved by $ 36.9 million compared to Adjusted EBITDA of $ 24.4 million ( margin of 3.1 per cent ) in the second quarter of 2020 . Operating profit of $ 34.6 million for the three months ended June 30 , 2021 compared to an operating loss of $ 0.8 million in the same period in 2020 . • Net income of $ 17.6 million ( diluted earnings per share of $ 0.27 ) for the second quarter increased by $ 23.8 million compared to a net loss of $ 6.2 million ( diluted loss per share of $ 0.10 ) in the same period in 2020 . Reported backlog as at June 30 , 2021 of $ 6,524 million compares to backlog of $ 7,255 million as at June 30 , 2020 . • New contract awards of $ 1,582 million were booked in the second quarter of 2021 , compared to $ 1,080 million in the same period in 2020 . • Aecon consortiums were awarded several multi - year projects in the second quarter : o West End Connectors , a consortium in which Aecon holds a 40 per cent interest , reached financial close on the $ 729 million Eglinton Crosstown West Extension Advance Tunnel project in Toronto . o The Steam Generator Replacement Team ( " SGRT " ) , a joint venture in which Aecon holds a 50 per cent interest , was awarded an approximately $ 350 million contract to replace steam generators at Units 3 and 4 of the Bruce Nuclear Generating Station in Kincardine , Ontario . o Red River Solutions , a joint venture in which Aecon holds a 50 per cent interest , was awarded a $ 272 million design - build contract by the City of Winnipeg for the North End Sewage Treatment Plant Upgrade : Headworks Facilities Project in Manitoba . • Aecon's alliance agreements with Enbridge Gas Inc. were extended until the end of 2023 , representing additional recurring revenue opportunities in utilities operations , ilding on a 20 - year relationship with Enbridge . 1/13