Bechtel Annual Report Shows Strong Performance for 2019
13 March 2020
Customer achievements in transit, clean energy and the environment drove the company’s success as global leader in engineering, procurement and construction.
Bechtel Corporation today released its Annual Report showing the company closed 2019 in a strong financial position. Bechtel helped customers expand air and rail transit for millions of travelers, provide zero-carbon power for communities, and eliminate the environmental risks of hazardous waste, reinforcing its standing as a trusted engineering, procurement and construction partner to industries and governments.
In 2019, Bechtel achieved:
- $21.8 billion in total revenue;
- $9.6 billion in new project awards;
- And $38.3 billion in backlog.
Bechtel built on its history of helping customers change the world for the better. Among the highlights:
- Cheniere continued to meet the growing demand for liquefied natural gas (LNG), with two new LNG facilities in the United States;
- Plant Vogtle Units 3 and 4 are now more than 75 percent complete and closer to producing carbon-free energy;
- The Kosovo government opened the country’s Route 6 motorway, expanding trade opportunities across Western Europe;
- Alba’s new aluminum smelter added three percent to Bahrain’s gross domestic product;
- And the Blue Grass Chemical Agent-Destruction Pilot Plant began to safely dismantle the last U.S. chemical weapons stockpile.
“The successes we had in 2019 were the result of close partnership and alignment with our customers,” said company Chairman and CEO Brendan Bechtel. “We thank our customers for choosing our people to help design and build projects that are changing the world for the better.”
Bechtel entered into many new partnerships in 2019. Among them:
- NASA chose Bechtel to design, construct, and commission Mobile Launcher 2, which will be used to assemble and launch the next version of the Space Launch System rocket;
- NextDecade and Cheniere called on Bechtel for new LNG facilities in the U.S.;
- The government of Serbia selected a Bechtel-ENKA joint venture to build the country’s first 5G-ready motorway;
- Bechtel and General Motors began exploring the construction of a national network of electric-vehicle charging stations;
- And a partnership with the U.S. government’s Millennium Challenge Corporation and the Côte d’Ivoire government to develop an infrastructure master plan to generate sustainable economic growth and stability.
Bechtel in 2019 strengthened its commitment to the development of colleagues in the skilled crafts, with new apprentice programs and partnerships with organized labor unions.
The company continued to invest heavily in innovation. Over the last four years, the company has deployed nearly 250 innovations across 56 projects worldwide to enhance results for customers. Nearly all of these ideas came from Bechtel colleagues working at project sites, where they deliver creative solutions to real-world problems for customers virtually every day.
Investments in operations, particularly through highly integrated and data-centric process, produced more efficient execution on half of our customers. These efforts contributed to our goal to reduce project delivery costs by 20 percent and improve schedule performance by 30 percent.