Slide 1: Corporate Presentation September 2024
Egypt International Olympic City Stadium Corporate Presentation September 2024
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 7.7 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 7.7 billion as of 30 June 2024 • Focus in Egypt continues to be on foreign funded work such as large-scale transportation and infrastructure projects, with approximately 79% of the Group’s backlog in Egypt paid
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 5.7 billion ▪ Backlog: USD 1.9 billion ▪ Core markets: Middle East and Afri
Slide 5: Growing Concessions Portfolio
Growing Concessions Portfolio 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 Wind Energy Treatment
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 construction chemicals subsidiaries in Q2 2023 for EGP 2.2 billion Company Ownership H1 2024 Revenue Description ▪ A leading equipment imp
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 ▪ Examples of current O&M contracts across water treatment, wastewater treatment and transportation include: – High-speed rail: 15-year O&M for Egypt’s first high-s
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 – 6th largest in the world) and the world’s longest monorail project • Key Cairo Metro player since the late 1980s and completed over 1,000km of rail projec
Slide 9: 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 10: 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 11: 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 Note: Backlog/new awards
Slide 12: Investment in BESIX Group
Investment in BESIX Group Highlights ▪ An international Belgian multiservice company with a leading position in construction, property development and concessions founded in 1909 ▪ OC acquired 50% of BESIX in a joint leverage buyout in partnership with BESIX management in 2004 ‒ Held value as an inv
Slide 13: 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 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 – H1 2024 Results
Financial Section – H1 2024 Results
Slide 16: 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 6.5% 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 39.6% USA 796.2 661.8 20.3% 389.7 304.9 27.8% Adj. EBITDA 74.8 57.8 29.
Slide 17: Net Cash Position
Net Cash Position Net cash position of USD 434.5 million as of 30 June 2024 Evolution of Debt and Cash (USD Million) Cash Total debt Net debt $697 $691 $673 $538 $506 $474 $250 $239 $212 $214 $115 $64 31 Dec 20 31 Dec 21 31 Dec 22 31 Dec 23 31 Mar 24 30 Jun 24 Debt and Equity Summary Based on IFRS S
Slide 18: 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
Slide 19: 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 20: 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 21: 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 22: 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 23: 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 24: 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 2023 com
Slide 25: Appendix
Appendix
Slide 26: 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 27: 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 28: 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 29: 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 30: 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 31: 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 32: 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