Recent Insider Transactions • May 21
Non-Executive Chairman recently sold €621k worth of stock On the 13th of May, John Beck sold around 20k shares on-market at roughly €31.03 per share. This transaction amounted to 9.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by €1.3m. Duyuru • Mar 27
Aecon Group Inc. has completed a Follow-on Equity Offering in the amount of CAD 150.0135 million. Aecon Group Inc. has completed a Follow-on Equity Offering in the amount of CAD 150.0135 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,822,000
Price\Range: CAD 39.25
Discount Per Security: CAD 1.57 Duyuru • Mar 26
Aecon Group Inc. to Report Q1, 2026 Results on Apr 28, 2026 Aecon Group Inc. announced that they will report Q1, 2026 results After-Market on Apr 28, 2026 Duyuru • Mar 17
Aecon Group Inc., Annual General Meeting, Jun 01, 2026 Aecon Group Inc., Annual General Meeting, Jun 01, 2026. Duyuru • Mar 12
Aecon Group Inc. has filed a Follow-on Equity Offering in the amount of CAD 150.0135 million. Aecon Group Inc. has filed a Follow-on Equity Offering in the amount of CAD 150.0135 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,822,000
Price\Range: CAD 39.25 Duyuru • Jan 09
Aecon Group Inc. to Report Q4, 2025 Results on Mar 05, 2026 Aecon Group Inc. announced that they will report Q4, 2025 results After-Market on Mar 05, 2026 Duyuru • Dec 16
Aecon Group Inc. Announces Quarterly Dividend, Payable on January 5, 2026 Aecon Group Inc. announced that the Board of Directors approved its next quarterly dividend of 19 cents per share. The dividend will be paid on January 5, 2026 to shareholders of record as of December 24, 2025. Duyuru • Oct 30
Aecon Group Inc. Provides Financial Guidance for the Full Year 2025 and 2026 Aecon Group Inc. provided financial guidance for the full year 2025 and 2026. For the full year 2025, the company's Revenue is expected to be stronger than 2024, driven by record reported backlog of $10.8 billion at the end of the third quarter of 2025, recurring revenue programs continuing to see solid demand, a strong bid pipeline, and the impact of strategic acquisitions completed in 2024 and 2025.
For the year 2026, the company believes it is positioned to achieve further revenue growth. Duyuru • Sep 16
Aecon Group Inc. to Report Q3, 2025 Results on Oct 29, 2025 Aecon Group Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 29, 2025 Duyuru • Aug 08
Aecon Group Inc. (TSX:ARE) acquired Bodell Construction Co. Aecon Group Inc. (TSX:ARE) acquired Bodell Construction Co. on August 7, 2025.
Aecon Group Inc. (TSX:ARE) completed the acquisition of Bodell Construction Co. on August 7, 2025. Duyuru • Aug 02
Aecon Group Inc. announces Quarterly dividend, payable on October 02, 2025 Aecon Group Inc. announced Quarterly dividend of CAD 0.1900 per share payable on October 02, 2025, ex-date on September 22, 2025 and record date on September 22, 2025. Duyuru • Jun 20
Aecon Group Inc. to Report Q2, 2025 Results on Jul 31, 2025 Aecon Group Inc. announced that they will report Q2, 2025 results After-Market on Jul 31, 2025 Duyuru • Apr 08
Aecon Group Inc., Annual General Meeting, Jun 03, 2025 Aecon Group Inc., Annual General Meeting, Jun 03, 2025. Location: ontario, toronto Canada Duyuru • Mar 26
Aecon Group Inc. to Report Q1, 2025 Results on Apr 23, 2025 Aecon Group Inc. announced that they will report Q1, 2025 results After-Market on Apr 23, 2025 Duyuru • Mar 06
Aecon Group Inc. Approves A Quarterly Dividend, Payable on April 2, 2025 Aecon Group Inc. approved A Quarterly Dividend, Payable on April 2, 2025. For the period, the company reported dividend of 19 cents per share. The dividend will be paid to shareholders of record on March 21, 2025. Duyuru • Jan 10
Aecon Group Inc. to Report Q4, 2024 Results on Mar 05, 2025 Aecon Group Inc. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025 Duyuru • Dec 18
Aecon Group Inc. (TSX:ARE) completed the acquisition of United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC. Aecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 million on October 28, 2024. A cash consideration of $33 million will be paid by Aecon Group Inc. The transaction is subject to customary adjustments and closing conditions, including obtaining all necessary regulatory approvals. United’s management and operational teams will join Aecon upon closing of the Transaction.
Aecon Group Inc. (TSX:ARE) completed the acquisition of United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC on December 17, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: CA$0.90 (vs CA$2.16 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.90 (down from CA$2.16 in 3Q 2023). Revenue: CA$1.28b (up 2.9% from 3Q 2023). Net income: CA$56.5m (down 58% from 3Q 2023). Profit margin: 4.4% (down from 11% in 3Q 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 7% per year. Duyuru • Oct 28
Aecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 million Aecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 million on October 28, 2024. A cash consideration of $33 million will be paid by Aecon Group Inc. The transaction is subject to customary adjustments and closing conditions, including obtaining all necessary regulatory approvals. United’s management and operational teams will join Aecon upon closing of the Transaction. Upcoming Dividend • Sep 13
Upcoming dividend of CA$0.19 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 02 October 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (3.7%). Recent Insider Transactions • Aug 02
Executive VP & CFO recently bought €103k worth of stock On the 30th of July, Jerome Julier bought around 9k shares on-market at roughly €11.07 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Jerome's only on-market trade for the last 12 months. Declared Dividend • Jul 29
Second quarter dividend of CA$0.19 announced Shareholders will receive a dividend of CA$0.19. Ex-date: 20th September 2024 Payment date: 2nd October 2024 Dividend yield will be 5.9%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not covered by earnings (355% earnings payout ratio). However, it is well covered by cash flows (30% cash payout ratio). The dividend has increased by an average of 9.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 295% to bring the payout ratio under control. EPS is expected to grow by 536% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Jul 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.3% Last year net profit margin: 1.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (347% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Reported Earnings • Jul 25
Second quarter 2024 earnings released: CA$1.99 loss per share (vs CA$0.46 profit in 2Q 2023) Second quarter 2024 results: CA$1.99 loss per share (down from CA$0.46 profit in 2Q 2023). Revenue: CA$853.8m (down 27% from 2Q 2023). Net loss: CA$123.9m (down CA$152.1m from profit in 2Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Duyuru • Jul 25
Aecon Group Inc. Approves Quarterly Dividend, Payable on October 2, 2024 Aecon Group Inc.’s board of directors approved its next quarterly dividend of 19 cents per share. The dividend will be paid on October 2, 2024 to shareholders of record as of September 20, 2024. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €9.30, the stock trades at a forward P/E ratio of 171x. Average forward P/E is 12x in the Construction industry in Europe. Total loss to shareholders of 9.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.23 per share. Duyuru • Jun 15
Aecon Group Inc. to Report Q2, 2024 Results on Jul 24, 2024 Aecon Group Inc. announced that they will report Q2, 2024 results After-Market on Jul 24, 2024 Declared Dividend • Jun 10
First quarter dividend of CA$0.19 announced Shareholders will receive a dividend of CA$0.19. Ex-date: 21st June 2024 Payment date: 3rd July 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but not covered by cash flows (dividend approximately 42x free cash flows). The dividend has increased by an average of 9.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 35% over the next year. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range. Buy Or Sell Opportunity • May 27
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to €11.30. The fair value is estimated to be €9.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 0.8% in a year. Earnings are forecast to decline by 52% in the next year. Buy Or Sell Opportunity • Apr 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to €11.60. The fair value is estimated to be €9.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to decline by 1.1% in a year. Earnings are forecast to decline by 56% in the next year. Reported Earnings • Apr 25
First quarter 2024 earnings released: CA$0.10 loss per share (vs CA$0.15 loss in 1Q 2023) First quarter 2024 results: CA$0.10 loss per share (improved from CA$0.15 loss in 1Q 2023). Revenue: CA$846.6m (down 24% from 1Q 2023). Net loss: CA$6.12m (loss narrowed 35% from 1Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to €11.50. The fair value is estimated to be €9.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 3.7% in 2 years. Earnings are forecast to decline by 33% in the next 2 years. Duyuru • Mar 26
Aecon Group Inc. to Report Q1, 2024 Results on Apr 24, 2024 Aecon Group Inc. announced that they will report Q1, 2024 results After-Market on Apr 24, 2024 Upcoming Dividend • Mar 14
Upcoming dividend of CA$0.19 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (4.0%). Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €11.40, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 3.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.78 per share. Declared Dividend • Mar 11
Fourth quarter dividend of CA$0.19 announced Shareholders will receive a dividend of CA$0.19. Ex-date: 21st March 2024 Payment date: 3rd April 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but not covered by cash flows (175% cash payout ratio). The dividend has increased by an average of 9.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 66% over the next 2 years. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range. New Risk • Mar 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 472% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (175% cash payout ratio). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€146k sold). Duyuru • Mar 07
Aecon Group Inc., Annual General Meeting, Jun 04, 2024 Aecon Group Inc., Annual General Meeting, Jun 04, 2024, at 09:00 Eastern Daylight. Location: 20 Carlson Court, Suite 105 Toronto Canada Reported Earnings • Mar 07
Full year 2023 earnings released: EPS: CA$2.62 (vs CA$0.50 in FY 2022) Full year 2023 results: EPS: CA$2.62 (up from CA$0.50 in FY 2022). Revenue: CA$4.64b (down 1.1% from FY 2022). Net income: CA$161.9m (up 433% from FY 2022). Profit margin: 3.5% (up from 0.6% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Duyuru • Mar 06
Aecon Group Inc. Announces Quarterly Dividend, Payable on April 3, 2024 Aecon's Board of Directors approved an increase to the quarterly dividend to 19 cents per share from 18.5 cents per share previously. The first increased dividend will be paid on April 3, 2024, to shareholders of record on March 22, 2024. Duyuru • Jan 09
Aecon Group Inc. to Report Q4, 2023 Results on Mar 05, 2024 Aecon Group Inc. announced that they will report Q4, 2023 results After-Market on Mar 05, 2024 Recent Insider Transactions • Dec 22
Insider recently sold €83k worth of stock On the 19th of December, Adam Borgatti sold around 10k shares on-market at roughly €8.24 per share. This transaction amounted to 74% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €742k more than they bought in the last 12 months. Duyuru • Dec 16
Aecon Group Inc. Announces Departure of Its Chief Financial Officer, David Smales Effective January 26, 2024 Aecon Group Inc. announced the departure of Chief Financial Officer David Smales who has decided to pursue another leadership opportunity. Mr. Smales will resign from his role effective January 26, 2024 and is committed to working with Aecon's management team to ensure a smooth transition. Aecon is considering all alternatives for his replacement. Mr. Smales joined Aecon as Executive Vice President and Chief Financial Officer in November 2009 and has been a guiding force on Aecon's leadership team. David built a strong multi-disciplinary team with oversight spanning all corporate and operational finance activities including Investor Relations, Capital Market activities, Information Services, Procurement, Insurance, Sustainability, and Communications. Duyuru • Dec 15
Aecon Group Inc. Announces Upcoming Departure of David Smales, Executive Vice President Effective January 26, 2024 Aecon Group Inc. announced the departure of Executive Vice President David Smales who has decided to pursue another leadership opportunity. Mr. Smales will resign from his role effective January 26, 2024 and is committed to working with Aecon's management team to ensure a smooth transition. Aecon is considering all alternatives for his replacement. Mr. Smales joined Aecon as Executive Vice President and Chief Financial Officer in November 2009 and has been a guiding force on Aecon's leadership team. David built a strong multi-disciplinary team with oversight spanning all corporate and operational finance activities including Investor Relations, Capital Market activities, Information Services, Procurement, Insurance, Sustainability, and Communications. Duyuru • Dec 13
Aecon Group Inc. Announces Quarterly Dividend, Payable on January 3, 2024 Aecon Group Inc. announced on December 8, 2023 Aecon's Board of Directors approved its next quarterly dividend of 18.5 cents per share. The dividend will be paid on January 3, 2024 to shareholders of record as of December 22, 2023. Recent Insider Transactions • Nov 01
Non-Executive Chairman recently bought €67k worth of stock On the 30th of October, John Beck bought around 10k shares on-market at roughly €6.68 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months. New Risk • Oct 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 41% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 41% per year for the foreseeable future. High level of non-cash earnings (27% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Buying Opportunity • Oct 27
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €8.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 2.4% in 2 years. Earnings is forecast to decline by 41% in the next 2 years. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CA$2.16 (vs CA$0.57 in 3Q 2022) Third quarter 2023 results: EPS: CA$2.16 (up from CA$0.57 in 3Q 2022). Revenue: CA$1.24b (down 6.1% from 3Q 2022). Net income: CA$133.4m (up 287% from 3Q 2022). Profit margin: 11% (up from 2.6% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 49% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 49% per year for the foreseeable future. High level of non-cash earnings (26% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Duyuru • Sep 21
Connor, Clark & Lunn Infrastructure Ltd. completed the acquisition of 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for $120 million. Connor, Clark & Lunn Infrastructure Ltd. entered into an agreement to acquire 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for approximately $130 million on March 15, 2023. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2023. Solomon Partners acted as financial advisor and McCarthy Tétrault LLP acted as legal advisor to Aecon Group Inc.Connor, Clark & Lunn Infrastructure Ltd. completed the acquisition of 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for $120 million on September 20, 2023. The final sale price was $120 million following certain closing adjustments. Aecon Concessions will retain the management contract for the airport and remain the controlling shareholder of Skyport, owning a 50.1% interest. Duyuru • Sep 19
Aecon Group Inc. to Report Q3, 2023 Results on Oct 25, 2023 Aecon Group Inc. announced that they will report Q3, 2023 results After-Market on Oct 25, 2023 Upcoming Dividend • Sep 14
Upcoming dividend of CA$0.18 per share at 6.8% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 03 October 2023. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 6.8%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.0%). Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: CA$0.46 (vs CA$0.10 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$0.46 (up from CA$0.10 loss in 2Q 2022). Revenue: CA$1.17b (up 3.9% from 2Q 2022). Net income: CA$28.2m (up CA$34.6m from 2Q 2022). Profit margin: 2.4% (up from net loss in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 3.0% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Duyuru • Jun 20
Aecon Group Inc. to Report Q2, 2023 Results on Jul 26, 2023 Aecon Group Inc. announced that they will report Q2, 2023 results After-Market on Jul 26, 2023 Upcoming Dividend • Jun 15
Upcoming dividend of CA$0.18 per share at 5.6% yield Eligible shareholders must have bought the stock before 22 June 2023. Payment date: 05 July 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.7%). Reported Earnings • Apr 26
First quarter 2023 earnings released: CA$0.15 loss per share (vs CA$0.29 loss in 1Q 2022) First quarter 2023 results: CA$0.15 loss per share (improved from CA$0.29 loss in 1Q 2022). Revenue: CA$1.11b (up 12% from 1Q 2022). Net loss: CA$9.44m (loss narrowed 46% from 1Q 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Mar 22
President recently sold €730k worth of stock On the 20th of March, Jean-Louis Servranckx sold around 81k shares on-market at roughly €8.98 per share. This transaction amounted to 94% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jean-Louis has been a net seller over the last 12 months, reducing personal holdings by €1.1m. Upcoming Dividend • Mar 16
Upcoming dividend of CA$0.18 per share at 5.6% yield Eligible shareholders must have bought the stock before 23 March 2023. Payment date: 04 April 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.9%). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €8.30, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Construction industry in Europe. Total loss to shareholders of 7.4% over the past three years. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: CA$0.50 (vs CA$0.82 in FY 2021) Full year 2022 results: EPS: CA$0.50 (down from CA$0.82 in FY 2021). Revenue: CA$4.70b (up 18% from FY 2021). Net income: CA$30.4m (down 39% from FY 2021). Profit margin: 0.6% (down from 1.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Duyuru • Jan 04
Aecon Group Inc. to Report Fiscal Year 2022 Results on Feb 28, 2023 Aecon Group Inc. announced that they will report fiscal year 2022 results at 4:00 PM, US Eastern Standard Time on Feb 28, 2023 Duyuru • Jan 01
Aecon Group Inc. Announces the Retirement of John W. Brace from the Board of Directors Aecon Group Inc. announced that John W. Brace has retired from Aecon's Board of Directors. Mr. Brace was appointed to Aecon's Board of Directors in 2019 and served as Chair of the Risk Committee and as a contributing member of the Audit Committee. Upcoming Dividend • Dec 15
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 22 December 2022. Payment date: 04 January 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.9%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.0%). Duyuru • Dec 07
Aecon Group Inc. Announces Quarterly Dividend, Payable on January 4, 2023 Aecon Group Inc. announced its quarterly dividend of 18.5 cents per share will be paid on January 4, 2023 to shareholders of record as of December 23, 2022. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CA$0.57 (vs CA$0.64 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.57 (down from CA$0.64 in 3Q 2021). Revenue: CA$1.32b (up 14% from 3Q 2021). Net income: CA$34.5m (down 10% from 3Q 2021). Profit margin: 2.6% (down from 3.3% in 3Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 3.4% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 17% per year. Duyuru • Sep 20
Aecon Group Inc. to Report Q3, 2022 Results on Oct 26, 2022 Aecon Group Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Oct 26, 2022 Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: CA$1.12b (up 16% from 2Q 2021). Net loss: CA$6.35m (down 136% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 3.1%, compared to a 9.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Duyuru • Jul 29
Aecon Group Inc. Announces Quarterly Dividend, Payable on October 4, 2022 Aecon's next quarterly dividend of 18.5 cents per share will be paid on October 4, 2022 to shareholders of record as of September 23, 2022. Board Change • Jul 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jun 14
Aecon Group Inc. to Report Q2, 2022 Results on Jul 28, 2022 Aecon Group Inc. announced that they will report Q2, 2022 results After-Market on Jul 28, 2022 Reported Earnings • Apr 28
First quarter 2022 earnings released: CA$0.29 loss per share (vs CA$0.30 loss in 1Q 2021) First quarter 2022 results: CA$0.29 loss per share (up from CA$0.30 loss in 1Q 2021). Revenue: CA$985.9m (up 31% from 1Q 2021). Net loss: CA$17.4m (loss narrowed 5.3% from 1Q 2021). Over the next year, revenue is forecast to stay flat compared to a 6.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Upcoming Dividend • Mar 17
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 24 March 2022. Payment date: 04 April 2022. Payout ratio is on the higher end at 85% but the company is not cash flow positive. Trailing yield: 4.7%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (3.8%). Reported Earnings • Mar 03
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: CA$0.82 (down from CA$1.47 in FY 2020). Revenue: CA$3.98b (up 9.2% from FY 2020). Net income: CA$49.7m (down 44% from FY 2020). Profit margin: 1.2% (down from 2.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 4.1%, compared to a 5.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Duyuru • Mar 03
Aecon Group Inc. Approves Quarterly Dividend , Payable on April 4,2022 Aecon Group Inc. announced that the Board of Directors approved an increase to the quarterly dividend to 18.5 cents per share from 17.5 cents per share previously. The first increased dividend will be paid on April 4, 2022 to shareholders of record on March 25, 2022. Duyuru • Feb 06
Aecon Group Inc., Annual General Meeting, Jun 02, 2022 Aecon Group Inc., Annual General Meeting, Jun 02, 2022. Recent Insider Transactions • Dec 05
President recently bought €221k worth of stock On the 1st of December, Jean-Louis Servranckx bought around 20k shares on-market at roughly €11.17 per share. This was the largest purchase by an insider in the last 3 months. This was Jean-Louis' only on-market trade for the last 12 months. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS CA$0.64 (vs CA$1.23 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CA$1.16b (up 12% from 3Q 2020). Net income: CA$38.4m (down 48% from 3Q 2020). Profit margin: 3.3% (down from 7.1% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 16
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 23 September 2021. Payment date: 04 October 2021. Trailing yield: 3.2%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (3.1%). Duyuru • Jul 24
Aecon Group Inc. Provides Earnings Guidance for the Year 2021 Aecon Group Inc. provided earnings guidance for the year 2021. The overall outlook for 2021 remains positive as construction continues on a number of projects that ramped up in 2019 and 2020, and due to the level of backlog and new awards during
2021 and the strong demand environment for Aecon's services going forward, including recurring
revenue programs, all subject to the unknown impacts of COVID-19 going forward. Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS CA$0.29 (vs CA$0.10 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$971.3m (up 25% from 2Q 2020). Net income: CA$17.6m (up CA$23.8m from 2Q 2020). Profit margin: 1.8% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 17
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 24 June 2021. Payment date: 05 July 2021. Trailing yield: 3.9%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.2%). Executive Departure • Jun 10
Independent Corporate Director Joseph Carrabba has left the company On the 8th of June, Joseph Carrabba's tenure as Independent Corporate Director ended after 7.9 years in the role. We don't have any record of a personal shareholding under Joseph's name. Joseph is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.50 years. Reported Earnings • Apr 24
First quarter 2021 earnings released: CA$0.31 loss per share (vs CA$0.19 loss in 1Q 2020) The company reported a poor first quarter result with increased losses and weaker control over costs, although revenues were flat. First quarter 2021 results: Revenue: CA$754.0m (flat on 1Q 2020). Net loss: CA$18.4m (loss widened 61% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 15
Upcoming Dividend of CA$0.17 Per Share Will be paid on the 5th of April to those who are registered shareholders by the 22nd of March. The trailing yield of 3.3% is below the top quartile of German dividend payers (3.3%), but is in line with industry peers (3.2%). Is New 90 Day High Low • Mar 01
New 90-day high: €12.40 The company is up 19% from its price of €10.40 on 01 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €31.94 per share.