SNC-Lavalin reports rise in organic growth for Q2 2023


Success in first half of the year sees SNC-Lavalin Group raise forecast organic growth for whole year. 

SNC-Lavalin delivered another quarter of strong results, with a significant increase in organic revenue growth and Segment Adjusted EBIT.

The company’s backlog continued to be strong with another record high level achieved in the Engineering Services segment and a significant increase in the Nuclear segment.

Given the Company’s strong year-to-date performance, strong backlog and pipeline of prospects, investors have been told that previous projected organic growth for 2023 will be revised up from between 5% and 7% to between 12% and 15%.

Ian L. Edwards, president and CEO of SNC-Lavalin Group Inc, commented: “Performance this past quarter highlights the continuing success of our “Pivoting to Growth” strategy as we grow into a premier Professional Services and Project Management company. Subsequent to quarter close, we announced the sale of our Scandinavian Engineering Services business as part of our strategic review to further maximize long-term value creation for the Company. Our core expertise in Engineering Services and Nuclear is well regarded across the globe and positions SNC-Lavalin for long-term success in capturing new work as we transition to a more sustainable future for our planet and its people.”

SNC-LavalinQ2 2023Q2 2022
Revenues (millions)$2,131.5$2,023.1
*Adjusted EBITDA (millions)$183.9$160.5
EBITDA Margin (%)8.58.5
Net debt to adjusted EBITDA (ratio)3.12.9
~Order Book (millions)12,357.7$12,079.3
Booking-to-revenue (ratio)1.141.13
*SNCL Services Segment Adjusted EBIT | ~SNCL Services