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SNC-LAVALIN ANNOUNCES A FORECASTED LOSS ON A MAJOR POWER PROJECT
SNC-Lavalin Group Inc. (TSX:SNC) announced that its 2007 first quarter results, scheduled for release on May 4, 2007, will be affected by a forecasted loss on a major power project, mainly due to issues arising from the bankruptcy proceedings of a key supplier.
As reported in the Management Discussion and Analysis in the 2006 Annual Report, the Power segment was expected to provide a positive contribution to the overall Company profit in 2007. Due to this forecasted loss, the power segment is now expected to have an operating loss in 2007.
Considering the recognition of the two events in the first quarter, namely the gain from the sale of SNC TEC and the forecasted loss on this power project, SNC-Lavalin’s management expects an increase in net income excluding Highway 407 for the year 2007 compared to 2006.
The Company will provide an update during its regularly scheduled conference call for analysts following release of its first quarter 2007 results.
SNC-Lavalin (TSX: SNC) is one of the leading groups of engineering and construction companies in the world, a global leader in the ownership of infrastructure, and in operations and maintenance services. The SNC-Lavalin companies have offices across Canada and in 30 other countries around the world and are currently working in some 100 countries.
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Media Contact
Gillian MacCormackVice-President, Global Public Relations
SNC-Lavalin Group Inc.
514-393-8000 x7354
gillian.maccormack@snclavalin.com
Investors
Stéphane RoyVice-President, Investor Relations
SNC-Lavalin Group Inc.
514-393-1000 x7559
stephane.roy@snclavalin.com