A recent report issued by Pharos Research has anticipated Egypt to remain the main driver of Orascom Construction’s profitability on investments in infrastructure. The company’s backlog is currently skewed towards Egypt (70% of backlog), which should reflect positively on blended EBITDA margin and bottom line going forward, given that Egypt has the highest margins. “We expect Egypt to account for 72% of top line over our forecast horizon and we expect the MENA EBITDA margin to range between 9.2% and 11.0%. We foresee Egypt’s EBITDA contributing over 90% to EBITDA during our forecast horizon,” the report noted. Palm Hills Developments Company (PHDC) achieved a 20.7% y-o-y increase in 9M18 sales to EGP 9.8bn.

Source: Daily News Egypt December 23, 2018 09:11 UTC