WSP Reports Strong Q2 2017 Results
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 08/09/17 -- WSP Global Inc. (TSX: WSP) ("WSP" or the "Corporation") today announced its financial and operating results for the second quarter of fiscal 2017, which ended on July 1, 2017.
SECOND QUARTER AND FIRST HALF OF 2017 HIGHLIGHTS
Q2 2017
Solid financial performance for the quarter. Consolidated organic growth in net revenues of 2.2% and adjusted EBITDA margin of 10.7%, in line with Management''s expectations. Backlog remained stable and DSO is in line with seasonality cycle.
H1 2017
"We are pleased with our second quarter results which, in addition to organic growth, showed adjusted EBITDA and adjusted EBITDA margin improvements. This growth reflects our effective strategy execution, and our focus on delivering on our 2017 financial outlook," said Alexandre L''Heureux, President and CEO of WSP. "As well, subsequent to the end of the quarter, we increased our footprint in Latin America with the acquisition of POCH, a 730-employee pure-play engineering services firm based in Chile. This acquisition is in alignment with our 2015-2018 strategic plan and represents a significant milestone in our ambition to become a top-tier player in Latin America".
DIVIDEND
The Board of WSP declared a dividend of $0.375 per share. This dividend will be payable on or about October 15, 2017, to shareholders of record at the close of business on September 30, 2017.
FINANCIAL REPORT
This release includes, by reference, the 2017 second quarter financial reports, including the unaudited interim consolidated financial statements and the Management''s Discussion & Analysis ("MD&A") of the Corporation.
For a copy of our full financial results for the second quarter of 2017, including the MD&A and the unaudited interim consolidated financial statements, please visit our website at .
CONFERENCE CALL
WSP will hold a conference call at 4 p.m. (Eastern Time) on August 9, 2017, to discuss these results. To participate in the conference call, dial 1-647-788-4922 or 1-877-223-4471 (toll-free). A presentation of the 2017 second quarter highlights and results will be available on the same day at in the Investors section.
A replay of the call will be available until September 9, 2017. The telephone numbers to access the replay of the call are 1-416-621-4642 or 1-800-585-8367 (toll-free), access code 51755983. The replay of the conference call will also be available in the Investors section of the WSP website under Presentations & Events, in the days following the event.
ANALYST AND INVESTOR DAY
The Corporation also announced that it will be holding an Analyst and Investor Day on September 27, 2017 at the St. Andrew''s Club & Conference Centre, in Toronto, Ontario (Canada). For additional information on the Analyst and Investor Day, please visit the Investor section of our website at .
RESULTS OF OPERATIONS
NON-IFRS MEASURES
The Corporation reports its financial results in accordance with IFRS. However, the following non-IFRS measures are used by the Corporation: net revenues; EBITDA; adjusted EBITDA; adjusted EBITDA margin; adjusted EBITDA before Global Corporate costs; adjusted EBITDA margin before Global Corporate costs; adjusted net earnings (loss); adjusted net earnings (loss) per share; adjusted net earnings (loss) excluding amortization of intangible assets related to acquisitions; adjusted net earnings (loss) excluding amortization of intangible assets related to acquisitions per share; acquisition and integration costs; backlog; funds from operations; funds from operations per share; free cash flow; free cash flow per share; days sales outstanding (or DSO) and net debt to adjusted EBITDA. Additional details for these non-IFRS measures can be found in WSP''s MD&A, which is posted on WSP''s website at , and filed with SEDAR at .
Management believes that these non-IFRS measures provide useful information to investors regarding the Corporation''s financial condition and results of operations as they provide key metrics of its performance. These non-IFRS measures are not recognized under IFRS, do not have any standardized meaning prescribed under IFRS and may differ from similar computations as reported by other issuers, and accordingly may not be comparable. These measures should not be viewed as a substitute for the related financial information prepared in accordance with IFRS.
ABOUT WSP
As one of the world''s leading professional services firms, WSP provides technical expertise and strategic advice to clients in the Property & Buildings, Transportation & Infrastructure, Environment, Industry, Resources (including Mining and Oil & Gas) and Power & Energy sectors. We also offer highly specialized services in project delivery and strategic consulting. Our experts include engineers, advisors, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals. With approximately 37,000 talented people in 500 offices across 40 countries, we are uniquely positioned to deliver successful and sustainable projects, wherever our clients need us.
FORWARD-LOOKING STATEMENTS
Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although WSP believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. WSP''s forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP''s actual or projected results are included in the Management''s Discussion and Analysis for the year ended December 31, 2016, which is available on SEDAR at . The forward-looking statements contained in this press release are made as of the date hereof and WSP does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
Contacts:
Alexandre L''Heureux
President and Chief Executive Officer
WSP Global Inc.
514-340-0046, ext. 5310
Isabelle Adjahi
Senior Vice President, Investor Relations
and Communications
WSP Global Inc.
514-340-0046, ext. 5648
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Datum: 09.08.2017 - 06:00 Uhr
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