Orascom Construction, a leading engineering and construction contractor in the region, has reported a backlog of $6.1 billion and a net income of $113.4 million for FY 2021, up 24.8% over the previous year.

 

Announcing the results for the 12-month period ending December 31, 2021, Orascom Construction said  its revenue too surged by 5.1% to $3.54 billion, while its net income attributable to shareholders increased 43.2% y-o-y to $ 37.1 million in Q4 2021 and 24.8% y-o-y to $113.4 million in FY 2021.

 

The top construction contractor said its consolidated EBITDA increased 3.3% y-o-y to $204.4 million in FY 2021.

 

Net income attributable to shareholders increased 43.2% y-o-y to $37.1 million in Q4 2021. Net cash position increased to $441.6 million as of December 31, 2021 and positive operating cash flow increased to $201.2 million in FY 2021.

 

Consolidated backlog increased 12.0% y-o-y to $6.1 billion and pro forma backlog including 50% share in Besix increased 10.3% y-o-y to $8.9 billion.

 

Orascom Construction said its consolidated new awards increased 22.1% y-o-y to $3.6 billion and pro forma new awards including 50% share in Besix increased 32.5% y-o-y to $5.6 billion in FY 2021.