is changing its name to AtkinsRéalis as the Canadian engineering giant tries to forge a new corporate identity and move on from years of turmoil.
Meanwhile, over four years as CEO, Mr. Edwards has reshaped the company by selling oil and gas assets and pivoting toward a simplified business model centred on engineering services and consulting work, while riskier fixed-price construction contracts that have historically sucked cash are wound down. It all amounts to a new purpose and a new approach to business, he says.
“It’s a question of unifying everything under one brand – to energize our youth in the company, to energize our customers around what we do,” he said. “Honestly, I really do think that in Canada, the pride in the company is coming back for people that are close to us … and I really wish I could get the whole general public aligned to that as well.”
A sustained turnaround for SNC-Lavalin hinges on closing the gap to its rivals in terms of profit margins and generating consistent, growing free cash flow, Mr. Sytchev said in a research note. The analyst estimates that free cash flow will still be negative for fiscal 2023, even if things are “definitely moving in the right direction.”
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