ATCO Ltd. reported another big year as the global entity continued its upward growth.
“I’m pleased to report that ATCO achieved adjusted earnings of $481 million, this is 49 million and over 11 per cent higher than the previous year,” said Katie Patrick, executive vice president, chief financial and investment officer with ATCO.
They recorded a strong year picking up some large contracts.
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“ATCO Structures delivered growth throughout 2024 which was tied to their strong base business performance driven by increased global space rental activity. In addition to improved workforce housing trade sales performance across Australia, Canada and the U.S.,” said Patrick.
ATCO Structures was awarded multiple contracts totalling $29 million to supply and install an accommodation camp. They were also awarded a contract to design and supply mine dry and administrative facilities for a uranium mine in Western Canada. The final site completion is expected in the second quarter of 2025.
ATCO Structures picked up a contract to decommission and relocate a rapid deployment camp in the Pilbara Region of Western Australia. Lastly, they picked up a $4 million contract to supply and install auxiliary buildings in support of an expansion project for a mine site located in north-central Chile.
Ashcor picked up its first reclaimed ash management (RAM) facility in the U.S. after announcing an agreement with Consumers Energy. The deal is to extract and repurpose impounded coal ash from the soon-to-be-retired J.H. Campbell Generating Complex in Michigan.
On the Canadian utilities side, ATCO Gas Australia received an important decision. They received the final access agreement from the Economic Regulation Authority, which approves the prices for ATCO’s gas distribution network for the next five years.
Last year marked advancements in two large utility infrastructure projects, the Yellowhead Mainline Project and the Central East Transfer Out Project.
Patrick says they expect to see more growth in the future.
“Over the long term, we continue to be bullish on the outlook of our energy businesses. As population and industrial needs continue to grow, we expect to see very strong fundamentals in our core Alberta markets and opportunities to deliver even higher rate based growth,” she said.
ATCO and it’s subsidiaries have approximately 21,000 employees and assets of $27 billion.
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