Orascom Construction Reports 112.5% Increase in Adjusted Net Income to USD 103.5 Million and Proposes Dividend Distribution


Highlights

  • Adjusted net income (excluding one-off non-cash tax effect) increased 112.5% y-o-y to USD 103.5 million in FY 2017 and 210.5% y-o-y to USD 29.5 million in Q4 2017
  • Net income attributable to shareholders (including one-off non-cash tax effect) increased 61.2% y-o-y to USD 78.5 million in FY 2017
  • Pro forma EBITDA including 50% share in BESIX increased 46.9% y-o-y to USD 278.2 million in FY 2017
  • EBITDA increased 115.1% y-o-y to USD 212.9 million in FY 2017 and 217.1% y-o-y to USD 47.3 million in Q4 2017
  • Net cash position maintained at USD 173.5 million as of 31 December 2017
  • Backlog of USD 4.6 billion as of 31 December 2017 and USD 6.4 billion including 50% share in BESIX
  • New awards of USD 2.2 billion in FY 2017 and USD 3.5 billion including 50% share in BESIX
  • The Board of Directors proposes a dividend distribution of USD 30 million (USD 0.26 per share) to shareholders

FY 2017 Results Press Release