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AECOM to Support King Fahd Stadium Transformation for Vision 2030
ZACKS· 2025-05-21 15:20
Group 1: AECOM's Partnership and Project Involvement - AECOM has partnered with the Saudi Ministry of Sport to provide site supervision consultancy at King Fahd Sport City in Riyadh, supporting the transformation of the stadium for the AFC Asian Cup 2027 and the 2034 FIFA World Cup [1][2][3] - The project aligns with Saudi Arabia's Vision 2030, aiming to use sports to boost the economy and enhance community well-being [2][3] - AECOM will leverage its global experience from major sports events to meet FIFA standards and support the stadium's upgrades [3][4] Group 2: AECOM's Experience and Capabilities - AECOM Hunt will act as a key consulting partner, bringing expertise from managing over 140 stadiums, including notable venues like Intuit Dome and SoFi Stadium [5] - The partnership reflects AECOM's focus on delivering significant infrastructure projects, utilizing experience from past global sports events [4] Group 3: Financial Performance and Backlog - AECOM has reported a total backlog of $24.27 billion at the end of the second quarter of fiscal 2025, an increase from $23.74 billion in the prior year, with a 54.9% contracted backlog growth [6][7] - The company achieved an 80% win rate on major enterprise pursuits in the fiscal second quarter, maintaining an overall win rate of over 50% [7] - AECOM's net service revenues grew by 4% on an adjusted basis in the second quarter of fiscal 2025, indicating solid organic growth [10]