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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 : opts for corruption trial before judge alone

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06/28/2019 | 11:45am EDT

MONTREAL — Lawyers representing SNC-Lavalin Group Inc. have opted for trial by judge alone in a corruption case that has loomed over the Montreal-based engineering giant.

The company was ordered to stand trial last May.

The Montreal-based firm is accused of paying $47.7 million in bribes to public officials in Libya between 2001 and 2011. SNC-Lavalin, its construction division and a subsidiary also face one charge each of fraud and corruption for allegedly defrauding various Libyan organizations of $129.8 million.

Being found guilty could have grave consequences for SNC-Lavalin because it could find itself blacklisted and shut out of lucrative federal contracts for a period of 10 years as well as undermining its international business opportunities.

Shortly after learning that it would be ordered to stand trial, SNC-Lavalin said it intended to vigorously challenge the charges and plead not guilty.

The company has been caught in a political controversy for months after failing to secure a deferred prosecution agreement, a kind of plea deal that would have seen the firm agree to pay a fine rather than face prosecution.

Former attorney general Jody Wilson-Raybould alleged that top government officials pressured her to overrule federal prosecutors in the Libya case and negotiate a deferred prosecution agreement with the company.

The case will return to court on Sept. 20.

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 1,24%
P/E ratio 2019 -1,56x
P/E ratio 2020 10,6x
EV / Sales2019 0,52x
EV / Sales2020 0,45x
Capitalization 3 009 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 30,92  CAD
Last Close Price 17,14  CAD
Spread / Highest target 139%
Spread / Average Target 80,4%
Spread / Lowest Target 28,4%
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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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