Orascom Construction Reports FY 2015 Results


Orascom Construction Reports FY 2015 Results

Backlog Grows 14% to Secure Future Profitability and Strong MENA Performance Outweighed by One-Off Loss in USA

Highlights

  • Backlog increased 14% to USD 6.7 billion as the Group signed new contracts amounting to USD 4.8 billion in Egypt and USA during 2015
  • Pro forma backlog including the Group’s 50% share in BESIX increased 10% to USD 8.4 billion
  • MENA EBITDA margin of 15.4% and net income of USD 175.8 million highlight the strength of the Group’s regional operations
  • Consolidated results impacted by one-off loss in USA
  • Net cash position of USD 135.5 million as of 31 December 2015 and operating cash flow of USD 201.2 million generated in 2015
  • Return to profitability expected in Q1 2016 with estimated revenue of approximately USD 900 million and positive consolidated EBITDA

FY 2015 Results Press Release