Orascom Construction Plc · EGX:ORAS
Orascom Construction — 9M 2022 Earnings Presentation
17 slides from Orascom Construction's earnings presentation, Nov 24, 2022
Slide 1: 9M 2022 Results Presentation
Bahr El Baqar Water Treatment Plant, Egypt 9M 2022 Results Presentation 24 November 2022
Slide 2: Table of Contents
Table of Contents Section Page 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: Summary Income Statement
Summary Income Statement USD million Revenue by Geography – 9M 2022 9M 2022 9M 2021 Change Q3 2022 Q3 2021 Change USA Revenue 3,052.7 2,542.7 20.1% 1,138.1 857.7 32.7% 30.7% MEA 2,114.6 1,775.9 19.1% 738.0 587.2 25.7% USA 938.2 766.8 22.4% 400.1 270.5 47.9% EBITDA 150.1 146.2 2.7% 57.1 45.8 24.7% Ot
Slide 4: Net Cash Position
Net Cash Position Net cash position of USD 113.1 million as of 30 September 2022 Evolution of Debt and Cash (USD Million) Cash Total debt Net debt $506 $474 $462 $471 $403 $419 $375 $375 $382 $358 $357 $96 $115 $64 31 Dec 18 31 Dec 19 31 Dec 20 31 Dec 21 31 Mar 22 30 Jun 22 30 Sep 22 Debt and Equity
Slide 5: Consolidated Backlog
Consolidated Backlog Evolution of Consolidated Backlog (USD Billion) (1) Consolidated Backlog New Awards ▪ Consolidated backlog (excluding BESIX) $6.1 $6.0 (2) decreased 4.9% y-o-y to USD 5.7 billion in 9M $5.7 2022(2) $5.4 $5.4 $4.3 ▪ Consolidated new awards decreased 29.6% $3.6 $3.6 y-o-y to USD 6
Slide 6: Consolidated Backlog Breakdown – 30 September 2022
Consolidated Backlog Breakdown – 30 September 2022 Backlog by Geography Backlog by Sector Other 4.5% Commercial 27.6% USA 24.9% Infrastructure Saudi Arabia 57.9% 2.2% Egypt Industrial 68.4% 14.5% Backlog by Client Backlog by Currency(1) EGP Private 27.8% 27.4% FCY & FCY- Public priced 72.6% 72.2% (1
Slide 7: Evolution of Backlog by Geography
Evolution of Backlog by Geography Consolidated Backlog by Geography (Excluding BESIX) $4.3 bn $5.4 bn $5.4 bn $6.1 bn $5.7 bn 0.2 0.1 0.1 0.2 1.3 0.9 1.4 1.2 0.2 0.1 0.2 0.3 0.3 1.0 0.4 4.2 4.3 3.9 3.9 2.9 2018 2019 2020 2021 9M 2022 Egypt Other USA Saudi Arabia 6 Note: Backlog/new awards chart excl
Slide 8: Pro Forma Snapshot Including 50% of BESIX – 9M 2022
Pro Forma Snapshot Including 50% of BESIX – 9M 2022 ▪ BESIX’s standalone backlog increased 11.8% y-o-y to EUR 5.5 billion as of 30 September 2022 ▪ New awards totaled approximately EUR 1.3 billion in Q3 2022, resulting in an increase of 6.9% y-o-y in 9M 2022 new awards to EUR 2.9 billion ▪ Standalon
Slide 9: Portfolio of Equipment Services, Building Materials, Facility Mgmt. and Infrastructure Assets
Portfolio of Equipment Services, Building Materials, Facility Mgmt. and Infrastructure Assets These subsidiaries and investments contributed USD 30.5 million to the Group’s total net income in 9M 2022 Company Ownership 9M 2022 Revenue Description ▪ A leading equipment importation, distribution and m
Slide 10: Financial Statements
Financial Statements 10
Slide 11: Income Statement
Income Statement USD million 9M 2022 9M 2021 Q3 2022 Q3 2021 Results Commentary Revenue 3,052.7 2,542.7 1,138.1 857.7 Revenue: Cost of sales (2,791.2) (2,300.3) (1,043.5) (779.8) ▪ Consolidated revenue increased 32.7% y-o-y to USD Gross profit 261.5 242.4 94.6 77.9 1,138.1 million in Q3 2022 and 20.
Slide 12: Balance Sheet
Balance Sheet USD million 30 Sep 2022 31 Dec 2021 Results Commentary ASSETS Non-current assets Non-current assets ▪ Total investment in associates includes BESIX at an equity Property, plant and equipment 180.0 199.2 value of USD 366.4 million Goodwill 27.7 13.8 Current assets: Trade and other recei
Slide 13: Balance Sheet
Balance Sheet USD million 30 Sep 2022 31 Dec 2021 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 (354.9) (305.4) Liabilities: Retained earnings 377.8 346.9 ▪ Trade and oth
Slide 14: Cash Flow Statement
Cash Flow Statement USD million 30 Sep 2022 30 Sep 2021 Results Commentary Cash flow used in operating activities: Net profit for the period 70.2 84.2 ▪ Positive operating cash flow of USD 61.1 million in Q3 2022 Adjustments for: ▪ Q3 and Q2 2022 operating cash flow did not compensate for Depreciati
Slide 15: Cash Flow Statement
Cash Flow Statement USD million 30 Sep 2022 30 Sep 2021 Results Commentary Cash flow used in investing activities: Investments in PPE (53.6) (41.3) ▪ Cash flow used in investing activities of USD 9.6 million in Acquisition of subsidiaries, net of cash acquired (28.5) - Q3 2022 and USD 74.9 million i
Slide 16: 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 17: 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