Quarterly Reports 2011

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

• The Company's financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS"), all 2010 comparative figures have been restated.
• Net income attributable to the Company's shareholders for the first quarter of 2011 was $73.9 million ($0.49 per share on a diluted basis), compared to $84.1 million ($0.55 per share on a diluted basis) for the first quarter of 2010.
• Net income excluding Infrastructure Concession Investments was $49.5 million for the first quarter of 2011 compared to $64.6 million for the corresponding period in 2010. SNC-Lavalin's net income from Infrastructure Concession Investments was $24.4 million for the first quarter of 2011 compared to $19.5 million for the first quarter of 2010.
• Revenues for the first quarter of 2011 increased by 25.1% to $1.6 billion, compared to $1.3 billion for the same period in 2010.
• Revenue backlog totalled $9.4 billion at the end of March 2011 compared to $9.7 billion at the end of December 2010 and $8.6 billion at the end of March 2010. Note that due to the adoption of IFRS, and particularly its impact on infrastructure concession investments, the Company no longer includes its Infrastructure Concession Investments revenue backlog.
• Financial position remained strong with cash and cash equivalents of $1.2 billion at March 31, 2011.
• Return on average shareholders' equity was 27.3% for the 12-month period ended March 31, 2011.
• The Board of Directors declared a cash dividend of $0.21 per share for the first quarter of 2011.