In a year characterized by extraordinary global and financial challenges, WSP Global (TSX:WSP) demonstrated foundational strength and displayed agility.
Superior operating model resulting in a solid performance
WSP’s superior operating model, in addition to the unparalleled commitment of the company’s resilient workforce, allowed it to finish the year with a solid performance and make progress across all business units, setting the stage for continued growth in 2021.
Diverse workplace culture and strategy
Further WSP has been embracing change over the last several years. Collaboration appears to be central to WSP’s working environment. This year appears to have been a pivotal moment for WSP’s diverse workplace culture and strategy as it re-imagined how and where employees work within a different context.
Confronting a unique moment in time with courage and openness
As COVID-19 reached pandemic status, 90% of WSP’s global workforce shifted to remote work, while continuing to meet the needs of the company’s clients and communities. WSP’s employees appear to have confronted this unique moment in time with courage and openness. From COVID-19 response to relief efforts, WSP’s teams appear to have been called upon to provide the critical support needed to keep the company’s communities safe across the world.
Application of WSP’s global innovation program
Through the application of WSP’s global innovation program, Future Ready, which challenges and inspires all WSP employees to advise and design programs ready for the future as well as today, WSP’s experts explored various topics such as the post-pandemic workplace, the future of public transport, rethinking urban planning, and the impact of COVID-19 on global supply chains.
Helping clients face current challenges as well as preparing for the ones to come
With the 2020 launch of Future Ready in Asia, Latin America, and Central Europe, WSP appears to have achieved the company’s 2021 ambition to execute Future Ready globally, setting it apart in the way WSP delivers sustainable projects. As a true partner to WSP’s clients, WSP brought value that is anchored in the company’s ability to help clients face current challenges as well as prepare for the ones to come.
Strengthening client relationships
Also, WSP’s client relationships, whether new or long-standing, appear to have only been strengthened by this pandemic because the company’s clients have seen firsthand the company’s commitment to keeping projects and portfolios moving thanks to the company’s experienced and dedicated teams.
Delivering strong financial results
Furthermore, WSP has been delivering strong financial results. The flexibility and strength of WSP’s operating model, and tremendous efforts of the company’s leadership and teams, appears to have allowed it to end fiscal 2020 with solid results in line with WSP’s objectives to protect the company’s financial position and maintain margins, which it had set at the beginning of the pandemic.
Solid platform for WSP’s continued success
Despite a decrease in revenues, WSP completed the year in a strong financial position with a healthy backlog, improved adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margins, and record cash flows. This provides a solid platform for WSP’s continued success in 2021.
