Investor Presentaiton
Income Statement
Results Commentary
Revenue:
Consolidated revenue increased 7.8% y-o-y to USD 1.0
billion in Q4 2021 and 5.1% y-o-y to USD 3,542.9 million in
FY 2021
MEA operations comprised 72% of total revenue in Q4 2021
and 70% in FY 2021 while USA operations accounted for
the balance
EBITDA
Consolidated EBITDA increased 22.3% y-o-y to USD 58.1
million in Q4 2021 and 3.3% y-o-y to USD 204.4 million in
FY 2021
EBITDA margins increased to 5.8% in Q4 2021 and
maintained at 5.8% in FY 2021
EBITDA margins in the U.S. operations improved to 3.1% in
Q4 2021 and 1.9% in FY 2021
Income from associates:
BESIX records a consecutive quarter of profits in Q4 2021,
compensating for losses in H1 2021
Net income contribution from BESIX stood at USD 10.7
million in Q4 2021, bringing total net income contribution in
FY 2021 to USD 15.7 million compared to negative USD 6.2
million in FY 2020
USD million
Revenue
Cost of sales
Gross profit
Margin
Other income
FY 2021
FY 2020
Q4 2021 Q4 2020
3,542.9
3,371.1
1,000.2
927.8
(3,196.5)
(3,048.3)
(896.2)
(851.0)
346.4
322.8
104.0
76.8
9.8%
9.6%
10.4%
8.3%
2.3
14.2
(4.3)
9.9
SG&A expenses
(192.4)
(186.4)
(54.2)
(52.9)
Operating profit
156.3
150.6
45.5
33.8
EBITDA
204.4
197.8
58.1
47.5
Margin
5.8%
5.9%
5.8%
5.1%
Financing income & expenses
Finance income
11.6
21.3
2.6
9.0
Finance cost
(27.9)
(31.1)
(9.8)
(9.1)
Net finance cost
(16.3)
(9.8)
(7.2)
(0.1)
Income from equity acc. Investees
27.8
(3.2)
14.2
4.5
Profit before income tax
167.8
137.6
52.5
38.1
Income tax
(42.5)
(40.5)
(11.4)
(7.6)
Net profit for the year
125.3
97.1
41.1
30.5
Net Profit attributable to:
Owners of the company
113.4
90.9
37.1
25.9
Non-controlling interest
11.9
6.2
4.0
4.6
Net profit for the year
125.3
97.1
41.1
30.5
Net Income:
Net income attributable to shareholders increased 43.2%
y-o-y to USD 37.1 million in Q4 2021 and 24.8% y-o-y to
USD 113.4 million in FY 2021
ORASCOM Note: Figures are based on audited financials; full financial statements are available on the corporate website
CONSTRUCTION
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