The head of AtkinsRéalis says the company is well positioned to take advantage of global energy and infrastructure needs following a yearslong restructuring at the firm formerly known as SNC-Lavalin.
“We’ve been through a pretty significant transformation over the last six years. We’ve simplified the business down to two real components,” Ian Edwards, president and CEO of the Montreal-based company, told BNN Bloomberg in a Friday interview.
“One is the nuclear part of our business, which we own and deploy the Canadian nuclear technology, and the other part of the business is a global professional service in engineering infrastructure.”
Edwards said the company’s focus on those two aspects of the business was a deliberate choice based on underlying trends that show a global demand for services related to the energy transition away from fossil fuels as well as the need to replace aging infrastructure.
“We’re pleased with where we’ve positioned the company. It’s taken a while to get through this transition, so in some respects, we’re kind of only just getting started but things are going well so far,” he said.
Edwards’ comments came a day after the firm reported first quarter results that showed significant increases in profit and revenue, driven mainly by nuclear deals.
Nuclear revenue grew by 77 per cent year-over-year to a quarterly record of $538 million, accounting for the majority of the company’s total revenue increase and its 52 per cent jump in profits, the firm said.
The company also sees more nuclear deals materializing in the future. On Thursday, it raised its 2025 nuclear revenue outlook to between $1.9 billion and $2 billion, from a previous range of $1.6 billion to $1.7 billion.
With files from The Canadian Press
