{"id":577532,"date":"2022-11-27T03:54:24","date_gmt":"2022-11-27T03:54:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/"},"modified":"2022-11-27T03:54:24","modified_gmt":"2022-11-27T03:54:24","slug":"oc-revenues-up-20-y-o-y-in-9m-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/","title":{"rendered":"OC revenues up 20% y-o-y in 9M 2022"},"content":{"rendered":"

<\/a> Orascom Construction (OC) reported a 20.1% y-o-y rise in <\/strong>revenues to USD 3.05 <\/strong>bn in 9M 2022<\/strong>, according to its latest earnings release (pdf)<\/a>. Net income recorded USD 57.8 mn in the first nine months of the year (down 24.0% y-o-y.) The construction giant's revenues were up 32.7% y-o-y to post USD 1.1 bn in the third quarter of 2022, while net income during the July-September period was down 15.8% y-o-y at USD 23.9 mn. Earnings were impacted in both 9M and 3Q by the performance of Belgium-based subsidiary Besix, as well as \u201chigher net financing costs,\u201d according to the release.<\/p>\n

OC\u2019s consolidated backlog was down 4.9% y-o-y to USD 5.7 bn<\/strong> as of the end of September. OC attributed the dip to the fact that the figure was calculated based on the EGP-USD rate as of 31 October, to account for the devaluation of the EGP by the central bank on 27 October.<\/a> Consolidated new awards increased 10.6% y-o-y to USD 3.1 bn in 9M 2022, despite a 29.6% y-o-y drop in new awards in 3Q. Egypt accounted for 68.4% of the company\u2019s backlog, followed by the US (24.9%) and Saudi Arabia (2.2%). OC\u2019s pro forma backlog including its share in Besix decreased 5.1% y-o-y to USD 8.4 bn at the end of 3Q.<\/p>\n

What they said:<\/strong> OC continues to prioritize \u201cproject execution, controls, supply chain and collections as the company is \u201cstill facing a challenging operating climate,\u201d CEO Osama Bishai said in the release. We discussed OC\u2019s moves to expand its renewable energy business, among other topics, when we sat down with Bishai during COP27<\/a> for the Enterprise Climate CEO poll.<\/p>\n","protected":false},"excerpt":{"rendered":"

Orascom Construction (OC) reported a 20.1% y-o-y rise in revenues to USD 3.05 bn in 9M 2022, according to its latest earnings release (pdf). Net income recorded USD 57.8 mn in the first nine months of the year (down 24.0% y-o-y.) The construction giant's revenues were up 32.7% y-o-y to post USD 1.1 bn in […]<\/p>\n","protected":false},"author":1,"featured_media":577533,"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":[409,72,363],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam","tag-orascom-construction","wpautop","entry"],"acf":{"mongo_id":"8898fd45-35bf-4a18-b9cd-48a6a0a925b9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/419.jpg","photo_position":"above","related_issue":[577518],"teaser":"","voice_url":""},"yoast_head":"\nOC revenues up 20% y-o-y in 9M 2022 - 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\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OC revenues up 20% y-o-y in 9M 2022\" \/>\n<meta property=\"og:description\" content=\"Orascom Construction (OC) reported a 20.1% y-o-y rise in revenues to USD 3.05 bn in 9M 2022, according to its latest earnings release (pdf). Net income recorded USD 57.8 mn in the first nine months of the year (down 24.0% y-o-y.) The construction giant's revenues were up 32.7% y-o-y to post USD 1.1 bn in […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-27T03:54:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/419.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"OC revenues up 20% y-o-y in 9M 2022\",\"datePublished\":\"2022-11-27T03:54:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\"},\"wordCount\":261,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/419.jpg?fit=%2C&ssl=1\",\"keywords\":[\"earnings watch\",\"EnterpriseAM\",\"Orascom Construction\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\",\"name\":\"OC revenues up 20% y-o-y in 9M 2022 - 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Net income in the period was up nearly 60% over 1Q 2022, the\u2026","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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544849,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/orascom-construction-net-income-up-29-in-2021\/","url_meta":{"origin":577532,"position":1},"title":"Orascom Construction net income up 29% in 2021","author":"enterpriseam admin","date":"23 March 2022","format":false,"excerpt":"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. 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The company\u2019s topline rose 87% y-o-y to EGP 4.7 bn in 9M 2023, while its loan\u2026","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\/11\/1763.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546579,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-orascom-construction-mnhd-gb-auto\/","url_meta":{"origin":577532,"position":3},"title":"Earnings watch: Orascom Construction, MNHD, GB Auto","author":"enterpriseam admin","date":"22 May 2022","format":false,"excerpt":"Orascom Construction\u2019s (OC) net income slid 45% in 1Q 2022 due to deepening losses at Besix, according to its earnings release (pdf). The construction giant reported a USD 13.1 mn profit in the January-March quarter, down from USD 23.9 mn last year, as Belgium-based construction group\u2019s losses widened to USD\u2026","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\/2022\/5\/281.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565205,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/25\/earnings-watch-oc\/","url_meta":{"origin":577532,"position":4},"title":"Earnings Watch: OC","author":"enterpriseam admin","date":"25 March 2021","format":false,"excerpt":"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\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"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":577532,"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. 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=577532"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577532\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577518"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577533"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577532"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577532"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}