Cairo – Mubasher: Orascom Construction Plc reported consolidated backlog of $5.3 billion and net profits attributable to shareholders of $65 million during the first nine months of 2020.

The company, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, generated revenue of $2.4 billion, registering an annual increase of 6.9%, according to a statement on Thursday.

Net income attributable to shareholders fell by 6.2% to $30.2 million in the third quarter (Q3) of 2020 and 30.6% to $65.0 million in the first nine months of the year.

The company maintained its net cash position at $208.9 million as of 30 September.

Consolidated new awards registered $2.0 billion and pro forma new awards, including 50% share in BESIX, amounted to $2.8 billion in the January-September period.

In addition, BESIX reported a standalone backlog of EUR 4.2 billion and new awards of EUR 1.5 billion in the nine-month period ended 30 September.

During the first half (H1) of 2020, Orascom Construction reported $34.8 million in net profits attributed to the owners, down from $61.5 million in H1-19.