April 2, 2007
Bechtel Corporation today announced revenue of $20.5 billion in 2006, a 13 percent increase over 2005 and a record for the fourth straight year. Bookings of new work surged 34 percent to $24.7 billion, also a record.
Bechtel Announces Record 2006 Business Results
Strong execution combined with a diverse, international business portfolio helped Bechtel achieve the best overall financial performance in its 109-year history.
Bechtel’s Oil, Gas & Chemicals business unit and Bechtel National, the government services unit, set the pace for revenue. Bechtel’s other business units including global infrastructure, power, and communications continued to provide solid contributions to the overall record performance. About half the company’s revenue came from outside North America, reflecting Bechtel’s global reach.
Project highlights included the start of work in India on expansion of what will be the world’s largest refinery; collaboration with the University of California on management and operation of Los Alamos National Laboratory, the nation’s premier institution for defense research; the successful completion of our contract for the reconstruction of infrastructure in Iraq; continued work on high-profile civil projects ranging from the London Underground to the Tacoma Narrows Bridge in Washington state; the completion of two major power plants ahead of schedule; progress on construction of aluminum smelters in Oman and Iceland; and ongoing work to upgrade Cingular’s wireless network across the United States.
Bechtel once again demonstrated its commitment to safety in 2006. Ninety percent of projects finished the year without a lost-time accident, and 56 projects achieved at least one million consecutive safe work hours.
“Commitment to customers remained paramount in 2006,” said Chairman and CEO Riley Bechtel. “We performed quality work on time and within budget on a broad range of projects, and we helped customers meet their goals for sustainability—an increasingly important component of new construction work.”
Additional information is available in the Bechtel Report 2007.