{"id":565205,"date":"2021-03-25T13:39:02","date_gmt":"2021-03-25T13:39:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/25\/earnings-watch-oc\/"},"modified":"2021-03-25T13:39:02","modified_gmt":"2021-03-25T13:39:02","slug":"earnings-watch-oc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/25\/earnings-watch-oc\/","title":{"rendered":"Earnings Watch: OC"},"content":{"rendered":"

The EGX30 rose 1.6% at today\u2019s close<\/strong> on turnover of EGP 819 mn (44.6% below the 90-day average). Foreign investors were net buyers. The index is up 0.2% YTD.<\/p>\n

In the green: <\/strong>Eastern Co. (+7.7%), Fawry (+2.9%) and Heliopolis Housing (+2.6%).<\/p>\n

In the red: <\/strong>AMOC (-2.6%), Sidi Kerir (-2.2%) and Export Development Bank (-1.1%).<\/p>\n

\n

<\/a> EARNINGS WATCH- Orascom Construction (OC) net profits fell 6.2% y-o-y to USD 25.9 <\/strong>mn in 4Q2020 from USD 27.6 mn last year,<\/strong> the company said in its earnings release (pdf)<\/a>. Revenues for the quarter were up 3.2% y-o-y to USD 927.8 mn. FY2020 net profits fell 25% y-o-y to USD 90 mn from USD 121 mn, while revenues were up 5.9% y-o-y to USD 3.4 bn. Health and safety efforts allowed OC to successfully navigate covid-19 challenges as well as reaching targets that include Egypt\u2019s mega water projects and commercial projects in the US, and securing new awards, said CEO Osama Bishai. Revenue increase came from projects operating on a \u201cfull-fledged basis\u201d despite health and safety challenges. OC also saw positive cashflow, reflecting healthy operations, he added.<\/p>\n

OC\u2019s consolidated backlog excluding Besix inched slightly by 0.1% y-o-y to USD 5.4 bn as of the end of FY2020.<\/strong> Consolidated new awards rose 16% y-o-y to USD 920 mn during the year. Including the group\u2019s 50% share in Besix, pro forma backlog as of the end of September rose 1.2% y-o-y to USD 8 bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

The EGX30 rose 1.6% at today\u2019s close on turnover of EGP 819 mn (44.6% below the 90-day average). Foreign investors were net buyers. The index is up 0.2% YTD. In the green: Eastern Co. (+7.7%), Fawry (+2.9%) and Heliopolis Housing (+2.6%). In the red: AMOC (-2.6%), Sidi Kerir (-2.2%) and Export Development Bank (-1.1%). EARNINGS […]<\/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":[7219],"tags":[633,642,145,363,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565205","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-enterprisepm","tag-go-with-the-flow","tag-logistics","tag-orascom-construction","tag-transport","wpautop","entry"],"acf":{"mongo_id":"0049abe3-06d4-4665-96ad-b09a2744952a","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[565197],"teaser":"","voice_url":""},"yoast_head":"\nEarnings Watch: OC - 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\/2021\/03\/25\/earnings-watch-oc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch: OC\" \/>\n<meta property=\"og:description\" content=\"The EGX30 rose 1.6% at today\u2019s close on turnover of EGP 819 mn (44.6% below the 90-day average). Foreign investors were net buyers. The index is up 0.2% YTD. In the green: Eastern Co. (+7.7%), Fawry (+2.9%) and Heliopolis Housing (+2.6%). In the red: AMOC (-2.6%), Sidi Kerir (-2.2%) and Export Development Bank (-1.1%). 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Revenues for the quarter were up 4.4% y-o-y to USD 824.5 mn. CEO Osama Bishai said the results indicate \u201csteady performance\u201d\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":605455,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/31\/orascom-construction-net-income-nearly-triples-in-1h-2023\/","url_meta":{"origin":565205,"position":2},"title":"Orascom Construction net income nearly triples in 1H 2023","author":"enterpriseam admin","date":"31 August 2023","format":false,"excerpt":"The company\u2019s revenues fell 19% y-o-y during 2Q 2023","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1472.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574040,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/27\/earnings-watch-orascom-construction-reports-usd-9-5-mn-in-net-profit-in-2q2020\/","url_meta":{"origin":565205,"position":3},"title":"Earnings Watch- Orascom Construction reports USD 9.5 mn in net profit in 2Q2020","author":"enterpriseam admin","date":"27 August 2020","format":false,"excerpt":"EARNINGS WATCH- Orascom Construction (OC) profits dropped to USD 9.8 mn 2Q2020, down from USD 31.3 mn in 2Q2019, the company said in itsearnings release (pdf). Revenues for the quarter were up 0.1% y-o-y to USD 791.2 mn. Stable 2Q2020 revenues indicate a \u201chealthy rate of execution\u201d in the company\u2019s\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":630180,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/15\/earnings-watch-orascom-construction\/","url_meta":{"origin":565205,"position":4},"title":"Earnings watch: Orascom Construction","author":"enterpriseam admin","date":"15 April 2018","format":false,"excerpt":"EARNINGS WATCH- Orascom Construction (OC) reported net income attributable to shareholders increasing by 61.2% y-o-y of USD 78.5 mn in 2017. The figure, excluding a one-off non-cash tax effect, shows a 112.5% y-o-y increase to USD 103.5 mn. 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