Orascom Construction logs lower earnings in H1-22

Cairo – Mubasher: Orascom Construction Plc recorded net earnings of $40.50 million in the first half (H1) of 2022, down from $53.40 million in the same period in 2021.

Basic earnings per share (EPS) registered $0.29 in H1-22, compared to $0.41 in H1-21, according to a bourse disclosure on Wednesday.

The company’s revenues totalled $1.91 billion in the six-month period ended 30 June 2022, compared with $1.68 billion in the year-ago period.

As regards the standalone financials, the EGX-listed firm reported losses of $23.55 million in H1-22, up from losses of $13.11 million in H1-21.

During this year’s second quarter (Q2), the profits netted $25.20 million, compared to $26.50 million in Q2-21. Basic EPS stood at $0.18 in Q2-22, compared to $0.20 in Q2-21.

Moreover, revenues for Q2-22 increased to $934.90 million from $868.40 million in Q2-21.

During Q1-22, the company’s consolidated net profits attributable to the owners retreated by 45.1% to $13.1 million from $23.9 million in the same period of 2021.

Mubasher Contribution Time: 31-Aug-2022 09:43 (GMT)
Mubasher Last Update Time: 31-Aug-2022 09:48 (GMT)