AECOM uses balanced capital allocation strategy to drive organic growth, improved profitability and cash flow
Company reaffirms its fiscal year 2013 targets
AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for public and private clients in over 130 countries around the world, continues to successfully execute on its strategy for profitable growth, balanced capital allocation and disciplined financial management, John M. Dionisio, AECOM chairman and chief executive officer, will tell analysts at the company’s annual analyst event today in New York City. The event will also feature presentations from other members of AECOM’s senior leadership team, including: Michael S. Burke, president; Jane Chmielinski, chief operating officer; Fred Werner, president, EMEA; and Stephen M. Kadenacy, executive vice president and chief financial officer.
“Since our founding 22 years ago, we have grown rapidly to become our clients’ trusted architects, engineers, construction managers, and operations and maintenance experts,” said Dionisio. “We are the number one global design firm in the world, and we believe there are ample opportunities to expand further during the next decade, both in emerging and mature markets.”
The company’s long-term growth plan is focused on organic expansion and targets a greater mix of revenue and profit from multinational corporations, high-margin technical and construction services, and emerging markets such as Africa, China, India, the Middle East, Eastern Europe, Latin America and natural-resource rich economies.
“We are focused on growing the business profitably, increasing our returns on investment and maximizing value for our shareholders,” said Burke. “Over the next 5 years, we expect to generate at least $1 billion in free cash flow(1), which will support our balanced capital allocation priorities, including organic investments, acquisitions and share repurchase.”
A live webcast of the analyst event, which begins at 6:30 p.m. Eastern, as well as presentation materials, will be accessible by visiting the Investors page on AECOM's website at http://investors.aecom.com. An archived version of the webcast will also be available following today’s session.
AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM serves clients in more than 130 countries and had revenue of $8.2 billion during the 12 months ended Sept. 30, 2012. More information on AECOM and its services can be found at www.aecom.com.
AECOM expects to generate net cash provided by operating activities in excess of $1 billion over the next five years. Free cash flow, which is a non-GAAP measure, is defined as net cash provided by operating activities less payments for capital expenditures. The company anticipates that the cumulative net cash provided by operating activities over the next five years, reduced by payments for capital expenditures over the same period of time, will also be in excess of $1 billion. AECOM believes that non-GAAP financial measures such as free cash flow also provide a meaningful perspective on its business results as the company utilizes this information to evaluate and manage the business.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, free cash flow, profit margins and statements of plans for future operations and growth, including with respect to our share repurchase program. AECOM believes that non-GAAP financial measures such as EBITDA and free cash flow also provide a meaningful perspective on its business results as the company utilizes this information to evaluate and manage the business. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our annual report on Form 10-K for the fiscal year ended Sept. 30, 2012, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement.
AECOM Technology Corporation
Paul Gennaro, 212-973-3167
SVP & Chief Communications Officer
Lynn Antipas Tyson, 646-432-8428
SVP, Investor Relations