Page 15 - Shareholders Report 2023

MARKETS & DIVISIONS

AVIATION & AEROSPACE | MARKET

The Aviation & Aerospace Market began 2023
with key revenue-generating projects in active Ranked #1
construction, including the Jacksonville Aviation
Authority (JAA) Boeing Maintenance Hangar TOP CONTRACTORS IN
in Jacksonville, Florida; Blue Origin Warehouse MANUFACTURING
Expansion in Merritt Island, Florida and the Amazon AEROSPACE
Data Center, Miguel Hildago, Ciudad de Mexico.
Top 400 Contractors Sourcebook
This resulted in revenue of $145.7 million, exceeding ENR 2023 | Ranked #5 in 2022
the goal of $140.5 million. However, fee write-
downs on the JAA Boeing MRO Hangar and Orlando
Melbourne International Airport (MLB) terminal
projects caused the contribution to fall $6 million MARITIME
short of its goal of $12.4 million. The market ended DIVISION OF AVIATION & AEROSPACE
2023 by exceeding its sales goal of $158 million
with year-end sales totaling $177.4 million on The cruise and cargo industries are still recovering
these projects: Dassault Falcon Jet MRO and Paint from the COVID-19 pandemic. As a result, several
Hangars, Melbourne, Florida; Airbus U.S. Space & substantial Maritime prospects continued to
Defense Renovations, Merritt Island; and Boeing experience delayed procurement. Financial
South Yard, Jacksonville early procurement. Looking goals for 2023 were not achieved. The Maritime
ahead, 2024 is promising with expected sales coming Division sales were ($758,000) against a budget
from Guaranteed Maximum Price (GMP) conversions of $20 million due to a canceled Carnival planning
on Boeing South Yard, Boeing Cafeteria, Airbus U.S. prospect. Revenue of $186,000 fell short of the
Space & Defense Building Expansion, SAFRAN Phase $3.35 million goal. Contribution follows with a loss
III Facility Expansion, Negri Sembilan, Malaysia, of ($569,000) against a $390,000 goal. The division
and early due diligence for All Points Spacecraft has been dissolved, with legacy prospects being
Processing Facility at Cape Canaveral, Florida. pursued within the Aviation & Aerospace Market.
selection of clients
selection of clients

JACKSONVILLE AVIATION AUTHORITY (JAA) BOEING
MAINTENANCE HANGAR / PROJECT SHOCKWAVE
JACKSONVILLE, FLORIDA

2023 Annual Report to Shareholders ◆ Haskell 13