APRIL 2015 NET REVENUES AND EBITDA Historical information as per new reporting segments
PURPOSE OF THE DOCUMENT 2 In connection with the acquisition of Parsons Brinckerhoff, the internal reporting structure was modified, effective January 1, 2015. The Corporation now manages through four reportable operating segments, which are the following: Canada, Americas (USA and South America), EMEIA (Europe, Middle East, India and Africa) and APAC (Asia Pacific comprising mainly Asia and Australia). Comparative information will conform to this structure, hence us providing historical information as per new reporting segments in the following pages.
NET REVENUES
NET REVENUES Q1 2014 4 Q1 2014 (in millions of dollars, except percentages) Canada Americas EMEIA APAC Total Net revenues* 2014 $109.0 $56.1 $249.5 $26.0 $440.6 Net revenues* 2013 $125.7 $47.3 $211.6 $22.2 $406.7 Net change % (13.3%) 18.6% 17.9% 17.1% 8.3% Organic Growth (Contraction)** (13.3%) 9.3% 6.3% 15.2% 1.1% Acquisition Growth** 0.0% 0.5% 0.1% 0.0% 0.1% Foreign Currency Impact*** 0.0% 8.8% 11.5% 1.9% 7.1% Net change % (13.3%) 18.6% 17.9% 17.1% 8.3% Approximate number of employees - 2014 4,400 2,100 7,500 1,200 15,200 Approximate number of employees - 2013 4,900 1,700 7,100 1,100 14,800 Net change % (10.2%) 23.5% 5.6% 9.1% 2.7% **: Organic and Acquisition growth are calculated based on local currency/ies. *** : Foreign Currency Impact represents the foreign exchange component to convert total local currency/ies Net revenues to Canadian equivalent amount, net of organic and acquisition growth.
Q2 2014 5 Q2 2014 (in millions of dollars, except percentages) Canada Americas EMEIA APAC Total Net revenues* 2014 $181.9 $57.1 $245.8 $28.3 $513.1 Net revenues* 2013 $136.9 $51.2 $214.0 $24.6 $426.7 Net change % 32.9% 11.5% 14.9% 15.0% 20.2% Organic Growth (Contraction)** (10.5%) 9.4% 7.4% 11.8% 2.0% Acquisition Growth** 43.4% 0.3% 1.6% 0.0% 14.9% Foreign Currency Impact*** 0.0% 1.8% 5.9% 3.2% 3.3% Net change % 32.9% 11.5% 14.9% 15.0% 20.2% **: Organic and Acquisition growth are calculated based on local currency/ies. *** : Foreign Currency Impact represents the foreign exchange component to convert total local currency/ies Net revenues to Canadian equivalent amount, net of organic and acquisition growth.
6 Q2 2014 YEAR TO DATE YTD Q2 2014 (in millions of dollars, except percentages) Canada Americas EMEIA APAC Total Net revenues* 2014 $290.9 $113.2 $495.3 $54.3 $953.7 Net revenues* 2013 $262.6 $98.5 $425.6 $46.8 $833.5 Net change % 10.8% 14.9% 16.4% 16.0% 14.4% Organic Growth (Contraction)** (11.8%) 9.4% 6.8% 13.4% 1.5% Acquisition Growth** 22.6% 0.4% 0.9% 0.0% 7.7% Foreign Currency Impact*** 0.0% 5.1% 8.7% 2.6% 5.2% Net change % 10.8% 14.9% 16.4% 16.0% 14.4% Approximate number of employees - 2014 Approximate number of employees - 2013 6,400 2,200 7,700 1,200 17,500 4,900 1,700 7,200 1,200 15,000 Net change % 30.6% 29.4% 6.9% 0.0% 16.7% **: Organic and Acquisition growth are calculated based on local currency/ies. *** : Foreign Currency Impact represents the foreign exchange component to convert total local currency/ies Net revenues to Canadian equivalent amount, net of organic and acquisition growth.
Q3 2014 7 Q3 2014 (in millions of dollars, except percentages) Canada Americas EMEIA APAC Total Net revenues* 2014 $196.8 $64.2 $243.8 $32.6 $537.4 Net revenues* 2013 $132.3 $52.1 $198.3 $24.9 $407.6 Net change % 48.8% 23.2% 23.0% 31.0% 31.8% Organic Growth (Contraction)** (4.4%) 12.5% 10.8% 11.9% 6.0% Acquisition Growth** 53.2% 0.1% 2.6% 11.9% 19.5% Foreign Currency Impact*** 0.0% 10.6% 9.6% 7.2% 6.3% Net change % 48.8% 23.2% 23.0% 31.0% 31.8% **: Organic and Acquisition growth are calculated based on local currency/ies. *** : Foreign Currency Impact represents the foreign exchange component to convert total local currency/ies Net revenues to Canadian equivalent amount, net of organic and acquisition growth.
8 Q3 2014 YEAR TO DATE YTD Q3 2014 (in millions of dollars, except percentages) Canada Americas EMEIA APAC Total Net revenues* 2014 $487.7 $177.4 $739.1 $86.9 $1,491.1 Net revenues* 2013 $394.9 $150.6 $623.9 $71.7 $1,241.1 Net change % 23.5% 17.8% 18.5% 21.2% 20.1% Organic Growth (Contraction)** (9.3%) 10.5% 8.1% 12.9% 3.0% Acquisition Growth** 32.8% 0.3% 1.4% 4.2% 11.6% Foreign Currency Impact*** 0.0% 7.0% 9.0% 4.1% 5.5% Net change % 23.5% 17.8% 18.5% 21.2% 20.1% Approximate number of employees - 2014 Approximate number of employees - 2013 6,200 2,300 7,900 1,300 17,700 4,750 1,750 7,300 1,200 15,000 Net change % 30.5% 31.4% 8.2% 8.3% 18.0% **: Organic and Acquisition growth are calculated based on local currency/ies. *** : Foreign Currency Impact represents the foreign exchange component to convert total local currency/ies Net revenues to Canadian equivalent amount, net of organic and acquisition growth.
Q4 2014 9 Q4 2014 (in millions of dollars, except percentages) Canada Americas EMEIA APAC Total Net revenues* 2014 $201.4 $200.6 $345.4 $111.4 $858.8 Net revenues* 2013 $122.3 $52.4 $235.5 $25.9 $436.1 Net change % 64.7% 282.8% 46.7% 330.1% 96.9% Organic Growth (Contraction)** 1.6% 10.4% 12.7% 10.6% 9.1% Acquisition Growth** 63.1% 253.2% 31.1% 305.0% 82.5% Foreign Currency Impact*** 0.0% 19.2% 2.9% 14.5% 5.3% Net change % 64.7% 282.8% 46.7% 330.1% 96.9% **: Organic and Acquisition growth are calculated based on local currency/ies. *** : Foreign Currency Impact represents the foreign exchange component to convert total local currency/ies Net revenues to Canadian equivalent amount, net of organic and acquisition growth.
10 Q4 2014 YEAR TO DATE YTD Q4 2014 (in millions of dollars, except percentages) Canada Americas EMEIA APAC Total Net revenues* 2014 $689.1 $378.0 $1,084.5 $198.3 $2,349.9 Net revenues* 2013 $517.2 $203.0 $859.4 $97.6 $1,677.2 Net change % 33.2% 86.2% 26.2% 103.2% 40.1% Organic Growth (Contraction)** (6.8%) 10.5% 9.3% 12.3% 4.6% Acquisition Growth** 40.0% 64.5% 9.3% 84.1% 29.7% Foreign Currency Impact*** 0.0% 11.2% 7.6% 6.8% 5.8% Net change % 33.2% 86.2% 26.2% 103.2% 40.1% Approximate number of employees - 2014 Approximate number of employees - 2013 6,500 7,800 11,800 5,600 31,700 4,400 2,000 7,400 1,200 15,000 Net change % 47.7% 290.0% 59.5% 366.7% 111.3% **: Organic and Acquisition growth are calculated based on local currency/ies. *** : Foreign Currency Impact represents the foreign exchange component to convert total local currency/ies Net revenues to Canadian equivalent amount, net of organic and acquisition growth.
EBITDA
Q1 2014 12 Q1 2014 Canada Americas EMEIA APAC Total Net Revenues* 109.0 56.1 249.5 26.0 440.6 EBITDA* 42.1 Global Corporate Costs 1.6 Adjusted EBITDA* 10.5 6.2 26.3 0.7 43.7 Adjusted EBITDA Margin* 9.6% 11.1% 10.5% 2.7% 9.9%
Q2 2014 13 Q2 2014 Canada Americas EMEIA APAC Total Net Revenues* 181.9 57.1 245.8 28.3 513.1 EBITDA* 55.0 Global Corporate Costs 5.6 Adjusted EBITDA* 25.4 8.2 25.3 1.7 60.6 Adjusted EBITDA Margin* 14.0% 14.3% 10.3% 6.0% 11.8%
Q2 2014 YEAR TO DATE 14 Q2 YTD 2014 Canada Americas EMEIA APAC Total Net Revenues* 290.9 113.2 495.3 54.3 953.7 EBITDA* 97.1 Global Corporate Costs 7.2 Adjusted EBITDA* 35.9 14.4 51.6 2.4 104.3 Adjusted EBITDA Margin* 12.3% 12.7% 10.4% 4.4% 10.9%
Q3 2014 15 Q3 2014 Canada Americas EMEIA APAC Total Net Revenues* 196.8 64.2 243.8 32.6 537.4 EBITDA* 66.4 Global Corporate Costs 6.6 Adjusted EBITDA* 35.1 9.4 25.2 3.3 73.0 Adjusted EBITDA Margin* 17.8% 14.6% 10.3% 10.0% 13.6%
Q3 2014 YEAR TO DATE 16 Q3 YTD 2014 Canada Americas EMEIA APAC Total Net Revenues* 487.7 177.4 739.1 86.9 1,491.1 EBITDA* 163.4 Global Corporate Costs 13.9 Adjusted EBITDA* 71.0 23.8 76.8 5.7 177.3 Adjusted EBITDA Margin* 14.6% 13.4% 10.4% 6.6% 11.9%
Q4 2014 17 Q4 2014 Canada Americas EMEIA APAC Total Net Revenues* 201.4 200.6 345.4 111.4 858.8 EBITDA* 90.1 Global Corporate Costs 8.1 Adjusted EBITDA* 26.5 23.3 41.1 7.3 98.2 Adjusted EBITDA Margin* 13.2% 11.6% 11.9% 6.6% 11.4%
Q4 2014 YEAR TO DATE 18 Q4 YTD 2014 Canada Americas EMEIA APAC Total Net Revenues* 689.1 378.0 1,084.5 198.3 2,349.9 EBITDA* 253.5 Global Corporate Costs 22.0 Adjusted EBITDA* 97.5 47.1 117.9 13.0 275.5 Adjusted EBITDA Margin* 14.1% 12.5% 10.9% 6.6% 11.7%