2024/08/28

Orascom Construction: $7.7 Billion worth of projects underway

Orascom Construction has announced that the value of projects under execution amounts to USD 7.7 billion dollars, and the value of revenues is USD 1.5 billion dollars in the first half of 2024.

Key highlights:

-Revenues reached $1,477.4 million, Adjusted EBITDA stood at $74.8 million, and Adjusted Net Income amounted to $64.7 million in the first half of 2024.

-The project backlog is $7.7 billion, and including BESIX Group's 50% share, it reached $11.4 billion as of March 31, 2024.

-New contracts amounted to $1.7 billion, and including BESIX Group's 50% share, it reached $3.4 billion in the first half of 2024.

-BESIX Group's project backlog was €6.8 billion, and new contracts totalled €3.3 billion in the first half of 2024.

-A dividend of $0.20 per share was distributed to shareholders on August 21, 2024.

-Production at the first phase of the 500 MW wind farm in Egypt is expected to commence in the fourth quarter of 2024, ahead of schedule.