{"id":626099,"date":"2018-08-30T04:18:42","date_gmt":"2018-08-30T04:18:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/30\/oc-reports-strong-2q2018-earnings-natgasoline-gets-provisional-acceptance\/"},"modified":"2018-08-30T04:18:42","modified_gmt":"2018-08-30T04:18:42","slug":"oc-reports-strong-2q2018-earnings-natgasoline-gets-provisional-acceptance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/30\/oc-reports-strong-2q2018-earnings-natgasoline-gets-provisional-acceptance\/","title":{"rendered":"OC reports strong 2Q2018 earnings, Natgasoline gets provisional acceptance"},"content":{"rendered":"

<\/a> EARNINGS WATCH-<\/strong> Orascom Construction (OC) reported net income attributable to shareholders in 2Q2018 (pdf)<\/a> of USD 50.6 mn, up 113.5% y-o-y from USD 23.7 mn in the comparable period last year. Revenues came in 20.8% lower y-o-y at USD 750.1 mn compared to USD 947.2 mn in 2Q2017, which is \u201cmainly attributable to the completion of two large chemical plants in the U.S.\u201d The company\u2019s consolidated backlog as of 30 June 2018 stood at USD 4.2 bn, with new awards standing at USD 997.9 mn. Infrastructure and commercial work made up the bulk of the backlog, accounting for 96% of the total. In Egypt, \u201cthe Group remains a key player across several segments including transportation, the New Administrative Capital and Alamein city, and is benefitting from its strong positioning in other growing sectors such as water treatment and desalination.\u201d OC paid a USD 30 mn dividend to shareholders in July, CEO Osama Bishai noted.<\/p>\n

OC-built Natgasoline passes key checkpoint: <\/strong>Natgasoline, the largest methanol production facility in the US, received provisional acceptance after passing licensor performance tests<\/a>, Orascom Construction announced yesterday (pdf)<\/a>. OC had completed mechanical works at the facility, located in Beaumont, Texas, in April<\/a>. The main contractor for the project was Orascom Engineering & Construction USA.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Orascom Construction (OC) reported net income attributable to shareholders in 2Q2018 (pdf) of USD 50.6 mn, up 113.5% y-o-y from USD 23.7 mn in the comparable period last year. Revenues came in 20.8% lower y-o-y at USD 750.1 mn compared to USD 947.2 mn in 2Q2017, which is \u201cmainly attributable to the completion […]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626099","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4ae5c6c3-6e29-43dc-817a-48f540d78604","order":"0","is_powered_by":true,"section_story_id":"2c025b7a-751e-4c0d-af57-edf1d4e763fb","story_type":"1","photo_url":"","photo_position":"above","related_issue":[626087],"teaser":"","voice_url":""},"yoast_head":"\nOC reports strong 2Q2018 earnings, Natgasoline gets provisional acceptance - 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\/2018\/08\/30\/oc-reports-strong-2q2018-earnings-natgasoline-gets-provisional-acceptance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OC reports strong 2Q2018 earnings, Natgasoline gets provisional acceptance\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Orascom Construction (OC) reported net income attributable to shareholders in 2Q2018 (pdf) of USD 50.6 mn, up 113.5% y-o-y from USD 23.7 mn in the comparable period last year. 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In 4Q, the company reported a 43% increase in net income attributable to shareholders to USD 37.1 mn,\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":576370,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/earnings-orascom-construction-profits-down-6-in-3q2020\/","url_meta":{"origin":626099,"position":4},"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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