Orascom Construction Plc · EGX:ORAS
Orascom Construction — FY2020 Earnings Presentation
18 slides from Orascom Construction's earnings presentation, Mar 25, 2021
Slide 1: FY 2020 Results Presentation
Greater Cairo Metro Line III Phase 4B FY 2020 Results Presentation 25 March 2021
Slide 2: Table of Contents
Table of Contents Section Page Financial Highlights 1 Summary Financials 2-3 Consolidated Backlog 4-6 Pro Forma Snapshot Including BESIX 7 Construction Materials and Investments 8 Financial Statements 9-14
Slide 3: Financial Highlights
Financial Highlights Revenue of USD 3.4 billion and consolidated EBITDA of USD 197.8 million in FY 2020 Net income attributable to shareholders of USD 25.9 million in Q4 2020 and USD 90.9 million in FY 2020 Net cash position maintained at USD 358.6 million as of 31 December 2020 Consolidated
Slide 4: Summary Income Statement
Summary Income Statement USD million Revenue by Geography – FY 2020 FY 2020 FY 2019 Change Q4 2020 Q4 2019 Change Revenue 3,371.1 3,184.0 5.9% 927.8 898.7 3.2% MEA 2,107.3 2,182.2 (3.4)% 594.9 551.6 7.8% USA 37.5% Egypt USA 1,263.8 1,001.8 26.2% 332.9 347.1 (4.1)% 60.4% EBITDA 197.8 268.2 (26.2)% 47
Slide 5: Net Cash Position
Net Cash Position Net cash position of USD 358.6 million as of 31 December 2020 Evolution of Debt and Cash (USD Million) Cash Total debt Net debt $557 $507 $463 $474 $434 $403 $375 $375 $379 $348 $303 $261 $265 $153 $96 $115 31 Dec 16 31 Dec 17 31 Dec 18 31 Dec 19 31 Mar 20 30 Jun 20 30 Sep 20 31 De
Slide 6: Consolidated Backlog Growth
Consolidated Backlog Growth Current backlog size and quality supports the Group’s revenue and profitability targets Focus on pursuing quality projects where the Group has a competitive edge and is confident in the source of funding Evolution of Consolidated Backlog(1) Backlog New Awards Consolidated
Slide 7: Backlog Diversification
Backlog Diversification Backlog by Geography Backlog by Sector Backlog by Client Other 4.1% Private USA 19.0% 15.8% Commercial 33.2% Saudi Arabia 3.7% Infrastructure 58.6% Egypt Industrial 76.4% 8.2% Public 81.0% Backlog by Brand Backlog by Currency Currency Exposure Contrack Watts Weitz 1.6% 14.7%
Slide 8: Evolution of Backlog by Geography
Evolution of Backlog by Geography Consolidated Backlog by Geography (Excluding BESIX) $5.3 bn $4.6 bn $4.3 bn $5.4 bn $5.4 bn - 0.1 - 0.2 0.5 0.9 0.2 1.2 0.1 0.2 - 0.1 0.2 0.3 1.4 0.9 1.0 0.2 0.4 0.4 4.2 3.9 3.1 2.8 2.9 2016 2017 2018 2019 2020 Egypt Other USA Saudi Arabia USA (OCI N.V.) 6 Note: Bac
Slide 9: Pro Forma Snapshot Including 50% of BESIX – FY 2020
Pro Forma Snapshot Including 50% of BESIX – FY 2020 BESIX standalone backlog of EUR 4.2 billion and new awards of EUR 2.3 billion in FY 2020 Returned to profitability in H2 2020 and has a standalone net debt position decreased to of EUR 49.3 million as of 31 December 2020 BESIX book value of U
Slide 10: Construction Materials and Investments
Construction Materials and Investments Portfolio of investments in infrastructure, construction materials, industrial property management and facilities management Company Ownership FY 2020 Revenue Description Manufactures and supplies fabricated steel products in Egypt and North Africa – total ca
Slide 11: Financial Statements
Financial Statements 10
Slide 12: Income Statement
Income Statement USD million FY 2020 FY 2019 Q4 2020 Q4 2019 Results Commentary Revenue 3,371.1 3,184.0 927.8 898.7 Revenue: Cost of sales (3,048.3) (2,820.5) (851.0) (808.7) Consolidated revenue increased 3.2% y-o-y to USD 927.8 Gross profit 322.8 363.5 76.8 90.0 million in Q4 2020 and 5.9% y-o-y
Slide 13: Balance Sheet
Balance Sheet USD million 31 Dec 2020 31 Dec 2019 Results Commentary ASSETS Non-current assets Non-current assets Total investment in associates includes BESIX at an equity Property, plant and equipment 177.2 181.3 value of USD 382.9 million Goodwill 13.8 13.8 Current assets: Trade and other recei
Slide 14: Balance Sheet
Balance Sheet USD million 31 Dec 2020 31 Dec 2019 Results Commentary EQUITY Equity: Share capital 116.8 116.8 The movement in reserves relates primarily to currency Share premium 480.2 480.2 translation differences Reserves (289.7) (304.6) Liabilities: Retained earnings 288.6 249.5 Trade and oth
Slide 15: Cash Flow Statement
Cash Flow Statement USD million 31 Dec 2020 31 Dec 2019 Results Commentary Cash flow used in operating activities: Net profit for the year 97.1 131.1 Operating cash flow of USD 161.6 million in Q4 2020, Adjustments for: resulting in a year-end position of USD 138.2 million in FY 2020 Depreciation
Slide 16: Cash Flow Statement
Cash Flow Statement USD million 31 Dec 2020 31 Dec 2019 Results Commentary Investment in associate, net of cash acquired - (16.6) Cash flow used in investing activities: Investments in PPE (42.7) (39.5) Cash flow used in investing activities of USD 35.8 million in Proceeds from sale of PPE 6.9 8.1
Slide 17: Important Notice and Disclaimer
Important Notice and Disclaimer This document has been provided to you for information purposes only. This document does not constitute an offer of, or an invitation to invest or deal in, the securities of Orascom Construction PLC (the “Company”). The information set out in this document shall not f
Slide 18: Contact Investor Relations
Contact Investor Relations: Hesham El Halaby Director [email protected] T: +971 4 318 0900 NASDAQ Dubai: OC EGX: ORAS www.orascom.com