Infrastructure and sustainability ‘megatrends’ propel Aecom to $11bn revenue

Aecom office in Markham, Ontario, Canada (Image: Raysonho @ Open Grid Scheduler / Grid Engine, CC0, via Wikimedia Commons)

Aecom saw its revenue for its 2023 financial year increase 10% to $11 billion, as it hailed growth driven by “megatrends” of investment in infrastructure, sustainability and the energy transition.

The engineering and consultancy company made full-year adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) of $964 million, which was ahead of Aecom’s original guidance.

Backlog in Aecom’s design business increased by 12% to a record high, driven by its global water, transportation and environment businesses.

In its guidance for 2024, Aecom said it expected adjusted operating margin of 15.9%, up 90 basis points from 2023 and organic growth in net service revenue of 8%-10%.

The company’s chief executive Troy Rudd said, “We have focused our capital and technical expertise on the fastest-growing markets around the globe, which has resulted in a record win rate on the highest-returning opportunities.

“We have built an enviable leadership position and competitive advantage to fully capitalize on robust end market growth ahead.”