Orascom Construction Plc · EGX:ORAS
Orascom Construction — Investor Presentation (April 2025)
31 slides from Orascom Construction's investor presentation, April 2025
Slide 1: Corporate Presentation April 2025
Red Sea Wind Farm – 650 MW, Ras Ghareb, Egypt Corporate Presentation April 2025
Slide 2: Highlights
Highlights Engineering, construction and concessions in the Middle East, Africa and USA ▪ Global engineering and construction activities primarily focused on infrastructure, commercial and industrial projects in MEA and USA – Pro forma backlog of USD 7.6 billion including 50% share in BESIX and cons
Slide 3: Recent Developments: Executing Our Long-Term Strategy
Recent Developments: Executing Our Long-Term Strategy • Backlog at a healthy level of USD 7.6 billion as of 31 December 2024 • Majority of the backlog in Egypt is comprised of large-scale infrastructure projects funded by international financial institutions, with approximately 76% of the Group’s ba
Slide 4: Wide Range of EPC Capabilities Across Various Geographies
Wide Range of EPC Capabilities Across Various Geographies Orascom Construction PLC operates under three brands and owns 50% of BESIX Group Orascom Construction Weitz ▪ Established in 1950 ▪ Established in 1855 ▪ Backlog: USD 6.0 billion ▪ Backlog: USD 1.6 billion ▪ Core markets: Middle East and Afri
Slide 5: Growing Concessions Portfolio in Egypt, UAE and KSA
Growing Concessions Portfolio in Egypt, UAE and KSA Co-owner and co-developer of projects in water, renewable energy, logistics and hydrogen sectors Creates construction opportunities followed by long-term recurring income New Cairo Wastewater Dammam Independent Sewage Ras Ghareb Wind Energy Red Sea
Slide 6: Equipment Services and Building Materials
Equipment Services and Building Materials Diverse group of subsidiaries across building materials and equipment services Orascom Construction divested two of its building material subsidiaries in 2023 for EGP 2.2 billion Company Ownership FY 2024 Revenue Description ▪ A leading equipment importation
Slide 7: O&M, Facility Management and Industrial Parks
O&M, Facility Management and Industrial Parks ▪ Secured multi-year O&M contracts for projects on which the Group is also the contractor ▪ Current O&M contracts across water treatment, wastewater treatment and transportation: Operation & – High-speed rail: 15-year O&M for Egypt’s first high-speed rai
Slide 8: Leading EPC Track Record Across Several Industries and Geographies
Leading EPC Track Record Across Several Industries and Geographies Select Track Record Transportation • Egypt’s first high-speed rail (2,000 km) and the world’s longest monorail project • Key Cairo Metro player since the late 1980s and completed over 1,000 km of rail projects in the Middle East (mai
Slide 9: Consolidated Backlog
Consolidated Backlog Evolution of Consolidated Backlog (USD Billion) (1) Consolidated (2) ▪ Consolidated backlog decreased 5.8% y-o-y $8.1 $7.6 to USD 7.6 billion in FY 2024 ▪ Backlog in FY 2023 is based on the official $6.1 EGP-FCY rates and decreases to USD 7.4 $5.8 billion if a USD-EGP rate of 50
Slide 10: Consolidated Backlog Breakdown – 31 December 2024
Consolidated Backlog Breakdown – 31 December 2024 Backlog by Geography Backlog by Sector Other 4.2% Commercial 13.7% USA 21.1% Industrial 21.3% UAE 7.4% Infrastructure Egypt 65.0% 67.3% Backlog by Client Backlog by Currency(1) EGP Private 15.9% 24.1% Public 75.9% FCY & FCY- priced 84.1% (1) 76% of b
Slide 11: Evolution of Backlog by Geography
Evolution of Backlog by Geography Consolidated Backlog by Geography (Excluding BESIX) (1) $5.4 bn $6.1 bn $5.5 bn $8.1 bn $7.6 bn 1.7 1.6 0.2 0.6 0.3 1.3 0.6 0.9 1.3 0.2 0.2 0.2 0.2 0.2 0.1 5.5 5.1 4.2 4.3 3.8 2020 2021 2022 2023 FY 2024 Egypt UAE KSA Other USA Note: Backlog/new awards chart exclude
Slide 12: Investment in BESIX Group
Investment in BESIX Group Highlights ▪ An international Belgian company founded in 1909 with strong presence in construction, concessions and property development ▪ OC acquired 50% of BESIX in a joint leverage buyout in partnership with BESIX management in 2004 ‒ Held value as an investment in assoc
Slide 13: Pro Forma Snapshot Including 50% of BESIX – FY 2024
Pro Forma Snapshot Including 50% of BESIX – FY 2024 ▪ BESIX’s standalone backlog of EUR 8.2 billion as of 31 December 2024 and new awards of EUR 6.7 billion in FY 2024 ▪ Standalone net cash position of EUR 69.8 million as of 31 December 2024 ▪ BESIX book value of USD 417.3 million in Orascom Constru
Slide 14: Proven Financing Capabilities
Proven Financing Capabilities ▪ Finance team previously secured and arranged debt for complex industrial and infrastructure projects worldwide across cement, fertilizer, power and infrastructure sectors, having historically raised ~USD 30 billion of financing and having strong relationships with Eur
Slide 15: Financial Section – FY 2024 Results
Financial Section – FY 2024 Results
Slide 16: Summary Income Statement
Summary Income Statement USD million Revenue by Geography – FY 2024 FY 2024 FY 2023 Change Q4 2024 Q4 2023 Change Other MEA 6.8% Revenue 3,254.9 3,367.5 (3.3)% 935.0 1,002.3 (6.7)% MEA 1,611.3 1,809.7 (11.0)% 535.3 465.1 15.1% Egypt USA 1,643.6 1,557.8 5.5% 399.7 537.2 (25.6)% 42.8% Adj. EBITDA 158.
Slide 17: 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 32.8 million (28.0%) to the Group’s total net income in FY 2024 (1) Company(1) Ownership FY 2024 Revenue Description ▪ A leading equipment importation, distribution
Slide 18: Income Statement
Income Statement USD million FY 2024 FY 2023 Q4 2024 Q4 2023 Results Commentary Revenue 3,254.9 3,367.5 935.0 1,002.3 Revenue: Cost of sales (2,952.0) (3,099.7) (846.9) (929.7) ▪ Revenue decreased 6.7% y-o-y to USD 935.0 million in Q4 Gross profit 302.9 267.8 88.1 72.6 2024 and 3.3% y-o-y to USD 3,2
Slide 19: Adjusted EBITDA and Net Income
Adjusted EBITDA and Net Income Adjusted EBITDA Adjusted EBITDA FY 2024 FY 2023 Change EBITDA 151.5 232.6 (34.9)% [+] Non-operating one-off expense (Q1 2024) 7.5 - [-] Gain from the divestment of a building material subsidiary (Q2 2024) (0.7) - [-] Net gain from building material divestments & one-of
Slide 20: Balance Sheet
Balance Sheet USD million 31 Dec 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 141.8 126.4 value of USD 450.0 million, out of which BESIX represents Goodwill 27.7 27.7 USD 41
Slide 21: Balance Sheet
Balance Sheet USD million 31 Dec 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 (534.0) (421.7) Liabilities: Retained earnings 578.0 533.3 ▪ Trade and oth
Slide 22: Cash Flow Statement
Cash Flow Statement USD million 31 Dec 2024 31 Dec 2023 Results Commentary Cash flow generated from / used in operating activities: Net profit for the year 133.8 195.1 ▪ Operating cash flow of USD 645.2 million in FY 2024 Adjustments for: compared to USD 217.3 million in FY 2023 Depreciation 31.4 30
Slide 23: Cash Flow Statement
Cash Flow Statement USD million 31 Dec 2024 31 Dec 2023 Results Commentary Cash flow used in / generated from investing activities: Proceeds from sale of investments 2.5 116.7 ▪ Cash flow used in investing activities of USD 63.9 million in Investments in PP&E (75.1) (34.3) FY 2024 compared to inflow
Slide 24: Appendix
Appendix
Slide 25: Strong Track Record of Geographic and Sector Expansion
Strong Track Record of Geographic and Sector Expansion History of Creating Value for Shareholders Growing Family Construction Business Incubating Cement, Port & Fertilizer Lines Building an Investments and O&M Portfolio ▪ Roots trace back to 1950s in Egypt where first ▪ Created a top 10 global cemen
Slide 26: Entrepreneurial Track Record
Entrepreneurial Track Record Creating Shareholder Value ▪ Shareholder return: driven by strong longstanding leadership along with investment vision of principal shareholders ▪ Strategy to focus on infrastructure investments/concessions, Operation & Maintenance (O&M) contracts and complementary servi
Slide 27: Longstanding Position as Global Contractor of Choice
Longstanding Position as Global Contractor of Choice Track Record and Competitive Strengths ▪ Tradition: construction has been the core business since inception in 1950 – Orascom Construction PLC is now a leading global company employing c.60,000 people, with over 70 years of experience in MENA mark
Slide 28: Group Strategy Aimed at Delivering Top and Bottom Line Growth
Group Strategy Aimed at Delivering Top and Bottom Line Growth The Group has focused on creating shareholder value in the process of becoming a leading private sector contractor and an incubator of high-value businesses Strengthen EPC Market and Geographic Position Value Accretive Investment and O&M
Slide 29: Board of Directors
Board of Directors Chairman CEO Jérôme Guiraud Osama Bishai Independent Non-Executive Executive Board Member Chairman Hassan Badrawi Johan Beerlandt Sami Haddad Bjorn Schuurmans Nada Shousha Renad Younes Non-Executive Independent Non-Executive Independent Non-Executive Non-Executive Independent Non-
Slide 30: 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 31: 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
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