Orascom Construction Plc, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, reported a 17.1% increase in consolidated net profits attributable to the owners to $76.1 million during the first nine months of 2021 from $65 million in the year-ago period.
The company generated revenues of $2.542 billion in the January-September period of 2021, up 4.1% from $2.443 billion in the same period of 2020, according to a bourse filing on Wednesday.
The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) declined by 2.9% to $146.2 million in the January-September period of 2021 from $150.5 million in the corresponding period of the earlier year.
Meanwhile, the company’s consolidated backlog increased by 14.4% year-on-year (YoY) to $6 billion in the first nine months of 2021.
As for the standalone businesses, the company has logged net losses of $14.7 million in the first nine months of 2021, up from $1.9 million in the corresponding period of 2020.
It is noteworthy to mention that during the first half (H1) of 2021, the company registered a 55.23% year-on-year (YoY) surge in its net profits, logging $53.4 million from $34.4 million, including minority shareholders’ rights.
