Quarterly Reports 2011

(in millions of CA$, except per share amounts)

• Departure of Chief Executive Officer and Appointment of Interim Chief Executive Officer
• SNC-Lavalin announced that Pierre Duhaime has stepped down from his position as Chief Executive Officer and as a director and will retire from the Company. Ian A. Bourne will assume the function of Vice-Chairman and Interim Chief Executive Officer while a search for a new Chief Executive Officer is carried out.
• Fourth Quarter
• For the fourth quarter of 2011, net income attributable to SNC-Lavalin shareholders was $76.0 million ($0.50 per share on a diluted basis) compared to $132.6 million ($0.87 per share on a diluted basis), excluding the 2010 net gain after taxes of $26.1 million from the disposal of two infrastructure concession investments.
• Year Ended December 31, 2011
• For the year ended December 31, 2011, net income attributable to SNC-Lavalin shareholders was $378.8 million ($2.49 per share on a diluted basis), compared to $431.0 million ($2.83 per share on a diluted basis), excluding the net gains of $45.7 million from the disposals of certain assets and investments recognized in 2010.
• Revenues for the year ended December 31, 2011 increased by 20.3% to $7.2 billion, compared to $6.0 billion for the year ended December 31, 2010.
• Revenue backlog increased to $10.1 billion at the end of December 2011 compared to $9.7 billion at the end of December 2010. Operations & Maintenance revenue backlog decreased by 12.9% while the Services revenue backlog increased by 57.8% to $2.2 billion.
• Financial position remained solid with cash and cash equivalents of $1.2 billion at December 31, 2011.
• Return on average shareholders' equity was 19.3% for the 12-month period ended December 31, 2011.
• Dividend Increase
• The Board of Directors increased the quarterly cash dividend by 4.8% to $0.22 per share for the fourth quarter of 2011.