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FOR THE YEARS ENDED DECEMBER 31

(in millions of Canadian dollars, except per share amounts)

 

2013

2012

 

$

$

     

Revenue

3,068.6

2,887.1

Adjusted EBITDA*

184.0

171.9

Operating profit*

97.3

117.3

Profit

40.6

77.6

Adjusted profit*

47.8

74.4

Backlog revenue

1,773

2,428

Earnings per share

   

   Basic

0.77

1.46

   Diluted

0.72

1.18

Adjusted earnings per share*

   

   Basic

0.91

1.41

   Diluted

0.84

1.18

Dividends per share

0.32

0.28

Book value per share*

   Basic

11.10

10.25

   Diluted

11.10

10.27

Weighted average number of shares outstanding (in millions)

   

   Basic

52.7

53.0

   Diluted

78.9

79.0

2013 REVENUE BY SEGMENT (%)

$3
Billion
32% Infrastructure
45% Energy
23% Mining
185
0
25
1996-00
766
115
164
2001-05
1200
492
270
2006-10
1250
1250
264
2011
1436
1343
164
2012
1388.97
1657.04
46.686
2013

FIVE-YEAR FINANCIAL PERFORMANCE(1)

2261
2009
2750
2010
2896
2011
2887
2012
3069
2013
124
2009
60
2010
148
2011
172
2012
184
2013
8.48
2009
8.41
2010
9.26
2011
10.27
2012
11.10
2013

*The financial highlights and five-year financial performance section of the annual report present certain non-GAAP and additional GAAP financial measures to assist readers in understanding the Company’s performance. Non-GAAP financial measures are measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with GAAP. Additional GAAP financial measures are presented on the face of the Company’s consolidated statements of income and are not meant to be a substitute for other subtotals or totals presented in accordance with IFRS, but rather should be evaluated in conjunction with such IFRS measures. These measures are defined in the notes to the five-year performance section.

 

Notes

1. The Company prepares its consolidated financial statements in accordance with Canadian generally accepted accounting principles (“GAAP”) as set out in the Handbook of the Canadian Institute of Chartered Accountants (“CICA Handbook”). In 2010, the CICA Handbook was revised to incorporate International Financial Reporting Standards (“IFRS”) and to require publicly accountable enterprises to apply such standards effective for years beginning on or after January 1, 2011. Accordingly, the Company commenced reporting on this basis in its consolidated financial statements at December 31, 2011. The term “Canadian GAAP” refers to Canadian GAAP before the adoption of IFRS. Amounts previously reported for 2010 have been restated to give effect to these changes in accordance with IFRS. Amounts reported for 2008 to 2009 reflect amounts reported previously in accordance with Canadian GAAP. On January 1, 2013, the Company also adopted various new accounting standards including IFRS 11 “Joint Arrangements”. Amounts previously reported for 2012 have been restated to give effect to these changes, while amounts for 2011 and prior years are prepared in accordance with IFRS or Canadian GAAP before the adoption of new accounting standards in 2013.

2. Adjusted EBITDA represents operating profit (loss) adjusted to exclude depreciation and amortization, the gain (loss) on sales of assets and investments, and net income (loss) from projects accounted for using the equity method, but including JV EBITDA from projects accounted for using the equity method. JV EBITDA represents the Company’s proportionate share of the earnings or losses from projects accounted for using the equity method before depreciation and amortization, net financing expense and income taxes.

3. Book Value Per Share (diluted) is calculated as shareholders’ equity plus the increase in shareholders’ equity if options and convertible debentures in the money are exercised and/or converted plus officer share purchase loans plus the book value of LTIP shares, all divided by shares outstanding at year end (diluted). Shares outstanding at year end (diluted) represent the number of shares issued at the end of the year plus the number of shares issuable if options and convertible debentures in the money were exercised and/or converted plus the number of LTIP shares.

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