AECOM’s latest financial report shows a strong start to 2023, with good levels of organic growth and a rising order backlog.
In the first quarter of 2023, AECOM reported revenue increased 9% to $3.5bn and operating income increased 77& to $197m. This included organic net revenue rising by 8% in the design business.
Importantly, the Company’s focus on winning what matters to transform long-term earnings power resulted in a record win rate and record level of proposals and bids submitted. The design win rate reached a new high, including more than doubling the share of trailing twelve-month design wins valued at greater than $25m over the last few years, which has enhanced visibility and long-term earnings power.
Troy Rudd, AECOM’s chief executive officer, said: “Against a backdrop of rising demand and strong secular tailwinds, our focus on building the best franchises and culture in our industry is resulting in strong returns, as our second quarter performance underscores. Through the investments we are making in our teams and our focus on winning what matters to expand our long-term earnings power, we are delivering on our key priorities. This includes highly profitable and high returning organic growth and strong shareholder value creation through our returns-focused capital allocation policy.”
|AECOM||March 31 2023||March 31 2022|
|Adjusted EBITDA (millions)||$222.3||$244.3|
|Segment adjusted operating margin* (%)||14.5|
|Net debt to adjusted EBITDA* (ratio)||1.1|
|Order Book (millions)||$41,983|