{"id":544849,"date":"2022-03-23T04:00:33","date_gmt":"2022-03-23T04:00:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/orascom-construction-net-income-up-29-in-2021\/"},"modified":"2022-03-23T04:00:33","modified_gmt":"2022-03-23T04:00:33","slug":"orascom-construction-net-income-up-29-in-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/orascom-construction-net-income-up-29-in-2021\/","title":{"rendered":"Orascom Construction net income up 29% in 2021"},"content":{"rendered":"

Orascom Construction (OC) reported USD <\/strong>113.4 mn<\/strong> in net income<\/strong> attributable to shareholders<\/strong> in 2021<\/strong>, up 29% y-o-y, according to its financials (pdf)<\/a>. Revenues rose 5% from 2020 to USD 3.5 bn. In 4Q, the company reported a 43% increase in net income attributable to shareholders to USD 37.1 mn, on revenues of USD 1 bn, up 8% on 4Q 2020, the company said in its earnings release (pdf)<\/a>.<\/p>\n

OC\u2019s consolidated backlog rose 12% y-o-y to USD 6.1 bn in 2021<\/strong>, with new awards rising 22% for the year, but dipping 13% y-o-y in 4Q 2021. Egypt accounted for the lion\u2019s share of the company\u2019s backlog, comprising 71% of the total, followed by the US (22%) and Saudi Arabia (3%). Pro forma backlog including OC\u2019s 50% share in Besix rose 10% y-o-y to USD 8.9 bn in 2021.<\/p>\n

\u201cWe maintained our record backlog achieved in the previous quarter, highlighting our successful efforts in pursuing quality projects <\/strong>across sectors,\u201d company head Osama Bishai said. Egyptian projects played a major part in the growth, with the company signing contracts for transport projects, water infrastructure, and the Egypt-Saudi interconnection project. OC signed USD 2 bn-worth of new awards in the Middle East during the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Orascom Construction (OC) reported USD 113.4 mn in net income attributable to shareholders in 2021, up 29% y-o-y, according to its financials (pdf). Revenues rose 5% from 2020 to USD 3.5 bn. In 4Q, the company reported a 43% increase in net income attributable to shareholders to USD 37.1 mn, on revenues of USD 1 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[130,302,409,72,363],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544849","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-construction","tag-earnings","tag-earnings-watch","tag-enterpriseam","tag-orascom-construction","wpautop","entry"],"acf":{"mongo_id":"0e241cb0-59b3-4253-87c9-4a061b2c8971","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[544829],"teaser":"","voice_url":""},"yoast_head":"\nOrascom Construction net income up 29% in 2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/orascom-construction-net-income-up-29-in-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orascom Construction net income up 29% in 2021\" \/>\n<meta property=\"og:description\" content=\"Orascom Construction (OC) reported USD 113.4 mn in net income attributable to shareholders in 2021, up 29% y-o-y, according to its financials (pdf). 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Full-year net income came in at USD 144.7 mn in 2018, up 84.3% y-o-y from USD 78.5 mn in 2017.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576370,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/earnings-orascom-construction-profits-down-6-in-3q2020\/","url_meta":{"origin":544849,"position":5},"title":"Earnings: Orascom Construction profits down 6% in 3Q2020","author":"enterpriseam admin","date":"22 November 2020","format":false,"excerpt":"EARNINGS WATCH- Orascom Construction (OC) profits fell 6.2% y-o-y to USD 30.2 mn in 3Q2020 from USD 32.2 mn last year, the company said in its earnings release (pdf). Revenues for the quarter were up 4.4% y-o-y to USD 824.5 mn. 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