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Fri January 21 2022

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WSP reports increased revenue

13 May 14 WSP has reported first quarter revenues and net revenues up 6.8% and 8.3% respectively, compared to the same period last year.

Shoiry - on track for 2015 objectives
Shoiry - on track for 2015 objectives

The group’s revenue for WSP - which merged with Genivar in 2012 - was CA$511.1m (£278m) and net revenue was CA$440.6m. In addition, the group reported a record backlog level backlog of CA$1,723.1m - approximately 10.1 months of revenues - up $226.3m or 15.1% compared to Q4 2013.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) were CA$42.1m, up CA$5m or 13.5% compared to the first quarter of 2013. The EBITDA margin was at 9.6% of net revenues, compared to 9.1% for Q1 2013.

On 1 January, WSP reorganised its corporate structure and completed its rebranding as WSP, with the aim of setting strong foundations for future growth and positioning itself as a player with a global presence.

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It also undertook to acquire Focus Group Holdings, a 1,800-employee engineering and geomatics firm based in Alberta, Canada for an aggregate amount of CA$366.1m. The transaction closed on 10 April.

"Our good performance and recently-completed acquisitions put us on the right path to pursue and achieve our stated 2015 corporate objectives,” said Pierre Shoiry, president and chief executive officer of WSP. “As we continue to remain focused on financial performance, we will in parallel, spare no efforts in building on the other pillars of our strategy. As stated in the past, we believe our performance is reflected not only in our financial results, but also in the development of our business strategies centred around our employees and clients, thus creating a high-performance organisation that creates long term value for all of our stakeholders. In addition, to attain our objectives, we continuously strive to align our structure with the needs of our growing organization, hence us reorganizing our corporate team.”

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