WSP announces profits for 2012

On March 12, the same day WSP announced the pending acquisition of Focus Corporation, it published its financial and operating results for the fiscal year ended December 31, 2013.

The company, whose shares are traded on the Toronto Stock Exchange, had revenues and net revenues for the year of $2,016.0 million and $1,677.2 million, up 60.3% and 64.4%, respectively.

It announced an EBITDA of $171.1 million or, $180.6 million, excluding restructuring charges. This represents EBITDA margins of 10.2% and 10.8% of net revenues, respectively. For the year, the company incurred restructuring charges of $9.5 million.

The WSP board also declared a dividend of $0.375 per share, payable on March 31, 2014.

Pierre Shoiry, president and chief executive officer of WSP, said the company had met its targets for 2013, and was pleased with the overall performance. “We would like to thank all our employees for their contribution and dedication,” he said. “These results demonstrate the strength of our diversified business model and the fundamentals of our industry. With the successful completion of our previously announced reorganization and rebranding, we will now focus on the future and continue to strive towards the growth objectives set out in our 2015 Strategic plan, as one global WSP.”

In January, the former company GENIVAR officially became “WSP Global,” adopting the name of the large U.K. company GENIVAR had acquired in 2012.

To see the full WSP results for the fourth quarter and 12 months of 2013, click here.