Bechtel Announces 2014 Business Results

Company Delivers Strong Performance

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May 06, 2015, 05:56 ET

RESTON, Va., May 6, 2015 /PRNewswire/ -- Bechtel today announced business results for 2014 that demonstrate the company's financial strength and solid performance. Revenue for 2014 totalled $37.2 billion, New Work Booked was $18.4 billion, and Backlog remains strong at $70.5 billion.

"In 2014, we continued to execute our long-term strategy of diversifying our portfolio and geographic footprint, and adapting our offerings, services, and business to best meet changing global demands," said Chief Executive Officer Bill Dudley. He added that the company also consolidated five global business units into four: Infrastructure; Mining & Metals; Oil, Gas & Chemicals; and Nuclear, Security & Environmental, further aligning the company with the needs of its customers.

Among the notable projects last year were the completion of the Dulles Metrorail Expansion, one of the largest rail projects in the United States, and the Hamad International Airport, one of the most modern airports in the world, in Qatar. The award-winning Ivanpah Solar Electric Generating System, in California, which powers 140,000 homes with clean, solar energy was delivered. The first cargo of liquefied natural gas (LNG) for export from Curtis Island was delivered on schedule for our customer, Queensland Curtis LNG (QCLNG), a BG Group company. At the Pueblo Chemical-Agent Destruction Pilot Plant in Colorado, the Bechtel team is completing systemization and was awarded the operations phase of the contract. The Caval Ridge metallurgical coal project, in Queensland, Australia, was completed under budget and three months ahead of schedule.

New project awards included a contract from the UK Ministry of Defence to provide managed-services for the naval and air forces; the construction of the new 695-megawatt Keeyask hydroelectric generating station in Manitoba, Canada and a 778-megawatt combined-cycle power plant in Virginia; as well as a 37-mile (60-kilometer) motorway in Kosovo. In addition, Bechtel received contracts to design and build an ethylene plant, in Texas, and provide front-end engineering and design for a new midscale liquefaction facility and export terminal in Louisiana.

"These accomplishments—and many more—would not have been possible without the commitment, passion, expertise, and hard work of our 58,000 colleagues worldwide," said Chief Operating Officer Brendan Bechtel. "By partnering with our customers, we are helping to deliver landmark projects that are fostering sustainable progress and helping local economies."

Bechtel had the best safety performance in the company's 117-year history with the lowest recordable incident rate. Eighty-five percent of all locations completed the year without a single lost-time incident, and 11 of its projects recorded more than 10 million or more safe work hours.

View the 2015 Bechtel Report.

About Bechtel

Bechtel is among the most respected engineering, project management, and construction companies in the world. We stand apart for our ability to get the job done right—no matter how big, how complex, or how remote. Bechtel operates through four global business units that specialize in infrastructure; mining and metals; nuclear, security and environmental; and oil, gas, and chemicals. Since its founding in 1898, Bechtel has worked on more than 25,000 projects in 160 countries on all seven continents. Today, our 58,000 colleagues team with customers, partners, and suppliers on diverse projects in 40 countries. www.bechtel.com

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SOURCE Bechtel