RE:RE:RE:Legacy Projects Impact on FY24 Yes. The CEO said the majority of the LSTK backlog was associated to the GHB and then he said 2/3 so you are correct. Below is the excerpt for reference. LSTKs represent less than 5% of the backlog, two-third of which is doing great - see below. They said last quarter that another 90m is associated to CGL which will never be performed - second excerpt at the bottom of this post.
The challenge now for Aecon is talent acquisition and retention, and thorough project management.
So on the 330m, the majority now is on Gordie Howe. I mean around two-third of the backlog is on Gordie Howe, forecasting to be substantially completed in September 2025. In terms of execution, it is going quite right. Just to give you an example, this bridge, which is the longest span in North America, 851 meters across the river North to South, is made of 53 segments of 15 meters each, with 3 segments remaining. Then we have the acceses/entry, I mean, Canadian side and the American side and the link to interstate I-35 -on the Michigan site. Everything is on time. So I would say I'm rather happy with the execution of this project.
Excerpt from the March 6 conference call
CEO: Okay. We still have our full legacy project on our shoulders, but the situation is getting better and better. I mean, you have noticed, we have something like 420 million of backlog, which represents 7%. So it's a steep decrease. On this 420 million of backlog, I mean, 60% is about Gordie Howe, which is not the most difficult one. There's something like 90 to 95 on CGL, but most probably we are not going to execute it, because the client has other alternative to finalize a cleanup. So it's remaining rather weak on Egglinton and on Finch.