Orascom Construction Plc · EGX:ORAS
Orascom Construction — 9M 2020 Earnings Presentation
18 slides from Orascom Construction's earnings presentation, Nov 19, 2020
Slide 1: 9M 2020 Results Presentation
Burullus Combined Cycle Power Plant – Egypt Ras Ghareb Wind Farm - Egypt 9M 2020 Results Presentation 19 November 2020
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 2.4 billion and consolidated EBITDA of USD 150.5 million in 9M 2020 ▪ Net income attributable to shareholders of USD 30.2 million in Q3 2020 and USD 65.0 million in 9M 2020 ▪ Net cash position maintained at USD 208.9 million as of 30 September 2020 ▪ Consolidate
Slide 4: Summary Income Statement
Summary Income Statement USD million Revenue by Geography – 9M 2020 9M 2020 9M 2019 Change Q3 2020 Q3 2019 Change Revenue 2,443.3 2,285.3 6.9% 824.5 789.6 4.4% USA MEA 1,512.4 1,630.6 (7.2)% 487.7 513.9 (5.1)% 38.1% USA 930.9 654.7 42.2% 336.8 275.7 22.2% Egypt EBITDA 150.5 199.7 (24.6)% 51.0 57.3 (
Slide 5: Net Cash Position
Net Cash Position Net cash position of USD 208.9 million as of 30 September 2020 Evolution of Debt and Cash (USD Million) Cash Total debt Net debt $557 $507 $463 $434 $403 $379 $375 $375 $348 $303 $261 $265 $153 $96 31 Dec 16 31 Dec 17 31 Dec 18 31 Dec 19 31 Mar 20 30 Jun 20 30 Sep 20 Debt and Equit
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 4.3% Private USA 17.5% 15.5% Commercial 31.4% Saudi Arabia 4.0% Infrastructure 62.2% Industral 6.4% Egypt 76.1% Public 82.5% Backlog by Brand Backlog by Currency Currency Exposure Contrack Watts Weitz 2.2% 14.0% ▪
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 $5.3 bn - 0.1 - 0.2 0.5 0.2 1.2 0.8 0.1 0.2 - 0.1 0.2 0.3 1.4 0.9 1.0 0.2 0.4 0.4 3.9 4.0 3.1 2.8 2.9 2016 2017 2018 2019 9M 2020 Egypt Other USA Saudi Arabia USA (OCI N.V.) 6 Note:
Slide 9: Pro Forma Snapshot Including 50% of BESIX – 9M 2020
Pro Forma Snapshot Including 50% of BESIX – 9M 2020 ▪ BESIX standalone backlog of EUR 4.2 billion and new awards of EUR 1.5 billion in 9M 2020 ▪ Returned to profitability and contributed USD 10 million to OC’s net income in Q3 2020 ▪ BESIX standalone net debt position of EUR 81.8 million as of 30 Se
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 9M 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 9M 2020 9M 2019 Q3 2020 Q3 2019 Results Commentary Revenue 2,443.3 2,285.3 824.5 789.6 Revenue: Cost of sales (2,197.3) (2,011.8) (741.5) (705.9) ▪ Consolidated revenue increased 4.4% y-o-y to USD 824.5 Gross profit 246.0 273.5 83.0 83.7 million in Q3 2020 and 6.9% y-o-y
Slide 13: Balance Sheet
Balance Sheet USD million 30 Sep 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 175.2 181.3 value of USD 381.9 million Goodwill 13.8 13.8 Current assets: Trade and other recei
Slide 14: Balance Sheet
Balance Sheet USD million 30 Sep 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 (289.2) (304.6) Liabilities: Retained earnings 287.6 249.5 ▪ Trade and oth
Slide 15: Cash Flow Statement
Cash Flow Statement USD million 30 Sep 2020 30 Sep 2019 Results Commentary Cash flow used in operating activities: Net profit 66.6 100.3 ▪ Operating cash outflow of USD 23.4 million in 9M 2020 Adjustments for: ▪ Primarily driven by lower earnings y-o-y in 9M 2020 an Depreciation 33.6 38.4 increase i
Slide 16: Cash Flow Statement
Cash Flow Statement USD million 30 Sep 2020 30 Sep 2019 Results Commentary Cash flow used in investing activities: Investments in PPE (27.3) (29.5) ▪ Cash outflow for investments in PPE of USD 9.1 million in Proceeds from sale of PPE 4.3 5.2 Q3 2020 and USD 27.3 million in 9M 2020 Cash flow used in
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 hesham.elhalaby@orascom.com T: +971 4 318 0900 NASDAQ Dubai: OC EGX: ORAS www.orascom.com