Slide 1: H1 2024 Results Presentation
Egypt International Olympic City Stadium H1 2024 Results Presentation 28 August 2024
Slide 2: Table of Contents
Table of Contents Section Page Summary Financials 1 Consolidated Backlog 2-4 Pro Forma Snapshot Including BESIX 5 Subsidiaries and Investments 6 Financial Statements 7-13
Slide 3: Summary Income Statement
Summary Income Statement USD million Revenue by Geography – H1 2024 H1 2024 H1 2023 Change Q2 2024 Q2 2023 Change Other MEA 5.6% Revenue 1,477.4 1,563.5 (5.5)% 711.1 758.6 (6.3)% MEA 681.2 901.7 (24.5)% 321.4 453.7 (29.2)% Egypt 40.5% USA 796.2 661.8 20.3% 389.7 304.9 27.8% Adj. EBITDA 74.8 57.8 29.
Slide 4: Consolidated Backlog
Consolidated Backlog Evolution of Consolidated Backlog (USD Billion) (1) Consolidated Backlog New Awards ▪ Backlog (excluding BESIX) increased 39.7% (2) y-o-y to USD 7.7 billion in H1 2024(2) $8.1 $7.7 ▪ New awards increased 41.8% y-o-y to USD $6.1 1.0 billion in Q2 2024 and 3.7% y-o-y to USD $5.5 $
Slide 5: Consolidated Backlog Breakdown – 30 June 2024
Consolidated Backlog Breakdown – 30 June 2024 Backlog by Geography Backlog by Sector Other 3.8% Commercial 14.6% USA 25.5% Egypt Infrastructure 62.7% Industrial 60.6% 24.8% UAE 8.0% Backlog by Client Backlog by Currency(1) EGP Private 13.2% 27.3% Public 72.7% FCY & FCY- priced 86.8% (1) 78.9% of bac
Slide 6: Evolution of Backlog by Geography
Evolution of Backlog by Geography Consolidated Backlog by Geography (Excluding BESIX) $5.4 bn $6.1 bn $5.5 bn $8.1 bn $7.7 bn 1.7 2.0 0.2 0.6 0.3 1.3 0.9 0.6 1.3 0.2 0.2 0.2 0.2 - 0.2 0.1 - 5.5 4.8 4.2 4.3 3.8 2020 2021 2022 2023 H1 2024 Egypt UAE Saudi Arabia Other MEA USA 4 Note: Backlog/new award
Slide 7: Pro Forma Snapshot Including 50% of BESIX – H1 2024
Pro Forma Snapshot Including 50% of BESIX – H1 2024 ▪ BESIX’s standalone backlog of EUR 6.8 billion as of 30 June 2024 and new awards of EUR 3.3 billion in H1 2024 ▪ Standalone net debt position of EUR 268.1 million as of 30 June 2024 ▪ BESIX book value of USD 415.6 million in Orascom Construction’s
Slide 8: Portfolio of Equipment Services, Building Materials, Facility Mgmt. and Concessions
Portfolio of Equipment Services, Building Materials, Facility Mgmt. and Concessions These subsidiaries and investments contributed USD 20.2 million (31.3%) to the Group’s total net income in H1 2024(1) Company(1) Ownership H1 2024 Revenue Description ▪ A leading equipment importation, distribution a
Slide 9: Financial Statements
Financial Statements 10
Slide 10: Income Statement
Income Statement USD million H1 2024 H1 2023 Q2 2024 Q2 2023 Results Commentary Revenue 1,477.4 1,563.5 711.1 758.6 Revenue: Cost of sales (1,336.3) (1,437.2) (637.5) (701.7) ▪ Revenue decreased 6.3% y-o-y to USD 711.1 million in Q2 Gross profit 141.1 126.3 73.6 56.9 2024 and 5.5% y-o-y to USD 1,477
Slide 11: Adjusted EBITDA and Net Income
Adjusted EBITDA and Net Income Adjusted EBITDA Adjusted EBITDA H1 2024 H1 2023 Change Q2 2024 Q2 2023 Change EBITDA 68.0 150.7 -54.9% 37.7 115.3 -67.3% [+] Non-operating one-off expense (Q1 2024) 7.5 - - - [-] Gain from the divestment of a building material subsidiary (Q2 2024) -0.7 - -0.7 - [-] Net
Slide 12: Balance Sheet
Balance Sheet USD million 30 June 2024 31 Dec 2023 Results Commentary ASSETS Non-current assets Non-current assets ▪ Total investment in associates includes BESIX at an equity Property, plant and equipment 110.4 126.4 value of USD 450.2 million, out of which BESIX represents Goodwill 27.7 27.7 USD 4
Slide 13: Balance Sheet
Balance Sheet USD million 30 June 2024 31 Dec 2023 Results Commentary EQUITY Equity: Share capital 110.2 110.2 ▪ The movement in reserves relates primarily to currency Share premium 467.3 467.3 translation differences Reserves (479.3) (421.7) Liabilities: Retained earnings 555.5 533.3 ▪ Trade and ot
Slide 14: Cash Flow Statement
Cash Flow Statement USD million 30 June 2024 30 June 2023 Results Commentary Cash flow generated from / used in operating activities: Net profit for the period 70.7 132.9 ▪ Operating cash flow of USD 247.9 million in H1 2024 Adjustments for: compared to negative USD 119.3 million in H1 2023 Deprecia
Slide 15: Cash Flow Statement
Cash Flow Statement USD million 30 June 2024 30 June 2023 Results Commentary Cash flow used in / generated from investing activities: Proceeds from sale of investment in subsidiaries - 116.7 ▪ Cash flow used in investing activities of USD 30.9 million in Investments in PP&E (32.5) (14.3) H1 2024 com
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 hesham.elhalaby@orascom.com T: +971 4 318 0900 NASDAQ Dubai: OC EGX: ORAS www.orascom.com