Egypt: Orascom Construction records $96mln net profits in 9M-24

Revenues amounted to $2.31 billion as of 30 September 2024, down from $2.36 billion in 9M-23, according to the financial results

Staff Writer, Mubasher

November 25, 2024

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Orascom Construction posted year-on-year (YoY) lower consolidated net profits at $96 million in the first nine months (9M) of 2024, compared to $150.80 million.

Revenues amounted to $2.31 billion as of 30 September 2024, down from $2.36 billion in 9M-23, according to the financial results.

Basic and diluted earnings per share (EPS) plummeted to $0.79 in 9M-24 from $1.01 a year earlier.

Financials for Q3-24

In the third quarter (Q3) of 2024, Orascom Construction logged net profits valued at $25.30 million, an annual growth from $17.90 million.

The revenues jumped to $842.50 million in Q3-24 from $801.70 million in Q3-23, while the basic and diluted EPS climbed to $0.20 from $0.15.

As of 30 June 2024, the consolidated net profits after tax hit $70.70 million, down 46.80% YoY from $132.90 million.

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