{"id":598389,"date":"2019-05-23T03:44:46","date_gmt":"2019-05-23T03:44:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/earnings-watch-orascom-construction-reports-1q2019-results\/"},"modified":"2019-05-23T03:44:46","modified_gmt":"2019-05-23T03:44:46","slug":"earnings-watch-orascom-construction-reports-1q2019-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/earnings-watch-orascom-construction-reports-1q2019-results\/","title":{"rendered":"Earnings Watch: Orascom Construction reports 1Q2019 results"},"content":{"rendered":"

EARNINGS WATCH- Orascom Construction\u2019s attributable profit dipped 5% y-o-y in 1Q2019 to<\/b> USD 30.2 mn compared to USD 31.9 mn a year earlier, the company said in its earnings release (pdf)<\/a>. The bottom line was impacted by increased financing costs, the company said. Revenues decreased by about 7% during the quarter to USD 705.6 mn. Orascom reported a net debt position of USD 78.6 mn as of the end of the quarter \u201cmainly driven by peak execution at several large infrastructure and commercial projects in Egypt.\u201d As of 30 April 2019, net debt decreased to about USD 40 mn though after applying \u201cstrict\u201d cash and debt management. Shareholders approved a dividend distribution of USD 0.30 per share<\/b> (totaling USD 35 million) that will be paid in July 2019.<\/p>\n

Backlog: <\/b>Consolidated backlog excluding its global services arm Besix stood at USD 4.3 bn by end of 1Q2019, in-line with figures from last year. Consolidated new awards increased 44.4% to USD 480.7 mn in 1Q2019. Pro forma backlog including Orascom\u2019s 50% share in Besix increased 9.8% y-o-y in 1Q2019 to USD 7 bn while pro forma new awards totaled USD 857.2 mn during the quarter. \u201cWe remain focused on quality new opportunities across our core markets in Egypt, the Middle East and the United States where we continue to see an attractive project pipeline,\u201d said CEO Osama Bishai.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Orascom Construction\u2019s attributable profit dipped 5% y-o-y in 1Q2019 to USD 30.2 mn compared to USD 31.9 mn a year earlier, the company said in its earnings release (pdf). The bottom line was impacted by increased financing costs, the company said. Revenues decreased by about 7% during the quarter to USD 705.6 mn. 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The bottom line was impacted by increased financing costs, the company said. Revenues decreased by about 7% during the quarter to USD 705.6 mn. 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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":596440,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/28\/orascom-construction-profits-drop-38-y-o-y-in-2q2019\/","url_meta":{"origin":598389,"position":1},"title":"Orascom Construction profits drop 38% y-o-y in 2Q2019","author":"enterpriseam admin","date":"28 August 2019","format":false,"excerpt":"EARNINGS WATCH- Orascom Construction profits drop 38% y-o-y in 2Q2019 to USD 31.3 mn, compared to USD 50.6 mn a year earlier, the company said in its earnings release (pdf). While net income was hit mostly by higher financing costs in Egypt during 1H2019, the company managed to reduce its\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":642941,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/27\/earnings-watch-orascom-construction-2\/","url_meta":{"origin":598389,"position":2},"title":"Earnings watch: Orascom Construction","author":"enterpriseam admin","date":"27 August 2017","format":false,"excerpt":"EARNINGS WATCH- Orascom Construction Limited (OC) reported net income attributable to shareholders in 2Q2017 of USD 23.7 mn, down from USD 26.4 mn in the same period last year. Revenues came in at USD 947.2 mn in 2Q2017 against USD 1.024 bn in the same period last year. Revenue was\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":598389,"position":3},"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. OC\u2019s revenues dropped 8.8% to register USD 3.68 bn.","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":570355,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/earnings-watch-orascom-construction-profits-dip-16-2-y-o-y\/","url_meta":{"origin":598389,"position":4},"title":"Earnings watch: Orascom Construction profits dip 16.2% y-o-y","author":"enterpriseam admin","date":"29 March 2020","format":false,"excerpt":"EARNINGS WATCH- Orascom Construction profits dipped 16.2% y-o-y in 2019 to USD 121.3 mn, compared to USD 144.7 mn the previous year, the company said in its earnings release (pdf). Revenues for the year increased 5.7% to USD 3.184 bn. The company attributed the drop in profits to higher net\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":620517,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/22\/orascom-constructions-net-income-up-28-in-1q-2024\/","url_meta":{"origin":598389,"position":5},"title":"Orascom Construction\u2019s net income up 28% in 1Q 2024","author":"enterpriseam admin","date":"22 May 2024","format":false,"excerpt":"The company\u2019s new awards fell 29% y-o-y to USD 609.5 mn during the quarter","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\/2024\/5\/1677.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598389","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=598389"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598389\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/598376"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=598389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=598389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=598389"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=598389"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=598389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}