Orascom Construction’s consolidated backlog hits $4.6bn in H1

Cairo – Mubasher: Orascom Construction Plc announced that its consolidated backlog increased by 9.4% year-on-year to $4.6 billion in the first half of 2019.

Meanwhile, consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 26.8% to $142.4 million during the six-month period ended 30 June, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.

Pro forma EBITDA including the group’s 50% share in BESIX levelled up 15.6% year-on-year to $176.0 million in the January-June period of 2019.

Year-on-year, consolidated new awards hiked by 41.8% to $1.4 billion, while pro forma new awards including the group’s 50% share in BESIX surged by 22.1% to $2.4 billion over the six-month period ended 30 June.

During the first quarter of 2019, Orascom construction Plc, listed on the EGX and Nasdaq Dubai, reported a 3.7% year-on-year consolidated profit retreat, registering $33.7 million, compared to $35 million.  

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