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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Snc-Lavalin Group Inc    SNC   CA78460T1057

SNC-LAVALIN GROUP INC

(SNC)
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SNC Lavalin : CEO names London-based executive and moves to streamline firm

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06/18/2019 | 11:23am EDT

MONTREAL — The new head of SNC-Lavalin Group Inc. has named a senior executive who will be based in the United Kingdom and made some organizational changes aimed at streamlining the beleaguered company.

Interim chief executive Ian Edwards has appointed Nigel White as executive vice-president of a newly created oversight project office that reports directly to the CEO. Edwards says the oversight function will underpin all four sectors of the engineering and construction giant to assess risk and troubleshoot project issues.

The CEO, who was promoted to the top spot one week ago, also says the firm will fold the power sector of Atkins — the U.K. engineering giant SNC-Lavalin bought in 2017 —into SNC's infrastructure unit.

Analyst Derek Spronck says the change raises the odds SNC will sell off construction and resource-based businesses to return the firm to its roots in engineering and design. Last month, the Montreal-based company announced plans to stop bidding on fixed-price contracts and wind down operations in 15 countries.

SNC-Lavalin says its new vice-president, slated to start Aug. 1 after leaving his job as executive director at Hong Kong-based Gammon Construction Ltd., has more than three decades of experience, including more than 20 years at British construction company Balfour Beatty.

White's posting in London continues to raise questions about SNC-Lavalin's future in Canada, where its business has been shrinking for several years and where an ongoing corruption trial could result in a 10-year ban on federal bidding in the event of a conviction.

Companies in this story: (TSX:SNC)

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (CAD)
Sales 2019 9 182 M
EBIT 2019 269 M
Net income 2019 -1 932 M
Debt 2019 1 757 M
Yield 2019 1,28%
P/E ratio 2019 -1,52x
P/E ratio 2020 10,3x
EV / Sales2019 0,51x
EV / Sales2020 0,44x
Capitalization 2 935 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 30,92  CAD
Last Close Price 16,72  CAD
Spread / Highest target 145%
Spread / Average Target 84,9%
Spread / Lowest Target 31,6%
EPS Revisions
Managers
NameTitle
Neil Alexander Bruce President, Chief Executive Officer & Director
Kevin G. Lynch Chairman
Ian Edwards Chief Operating Officer
Sylvain Girard Chief Financial Officer & Executive Vice President
Eric D. Siegel Independent Director
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