RESTON, Virginia - May 17, 2013
Bechtel Announces 2012 Business Results
Company Continues Strong Performance Trend
- Total Revenue - $37.9 billion
- New Awards - $23.9 billion
- Backlog - $92 billion
Bechtel today announced business results for 2012 that demonstrate the company’s continued financial strength and solid performance across multiple industries. Bechtel had revenue of $37.9 billion, up 15 percent from the previous year, and new contract awards of $23.9 billion, down from the previous year’s unprecedented performance of $53 billion. Bechtel ended the year with project backlog of $92 billion.
“In 2012 we continued to enter new markets and regions, completed several very large projects, and were awarded significant new opportunities,” said Bechtel Chairman and Chief Executive Officer Riley Bechtel. “We credit our customers, suppliers, and our 53,000 colleagues for our continued success.”
Among the notable projects Bechtel completed last year were major refinery expansions in the United States and Thailand and a large copper concentrator in Peru. The company also advanced key projects in dozens of countries. In Australia, work progressed on three liquefied natural gas (LNG) facilities being built in close proximity to one another on Curtis Island. Construction of a chemical agent-destruction pilot plant was completed as part of a landmark chemical demilitarization project in the U.S. and commercial operations began at one of the world’s most modern ports in Abu Dhabi. New project awards included three new mining-related assignments in Chile, two natural gas-fired power plants in the U.S., a project management contract to oversee the design and construction of an industrial city in Saudi Arabia, and an additional LNG train in Australia.
“Following a record year in 2011 when we experienced unprecedented demand for LNG projects, each of our business units delivered solid performances in 2012,” said Bechtel President and Chief Operating Officer Bill Dudley. “We believe 2013 will be another strong year for Bechtel.”
Bechtel’s unwavering commitment to safety and improving the quality of life in communities where it works was visible around the world in 2012. Eighty percent of the projects completed the year without a single lost time incident, reinforcing the organization’s position as one of the world’s safest engineering and construction companies.
Sustainability remained a key focus with worker skills training and local supplier programs on dozens of projects. In Australia, the first apprentices from the groundbreaking adult apprenticeship program began work on the LNG projects. Sustainable design and construction initiatives on the Crossrail project in the UK were recognized by international groups. And the company’s work in the U.S. was honored with 19 national sustainability awards. In addition, colleagues volunteered thousands of hours with five global nonprofit partner organizations to deepen the positive impact Bechtel has on communities through education, engineering, and construction.