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Wednesday, December 2 - 2009

Orascom Construction Industries

Name Orascom Construction Industries
Sector Construction and Real Estate - General building contractors
Trading CASE
RIC Code OCIC.CA
Location EGYPT

Profile and Background

Orascom Construction Industries (OCI) is among the major cement producers and construction conglomerates in the Middle East and North Africa regions. Its scope of operations extends well into the regional markets, including North Africa, the GCC, Afghanistan, Pakistan, Nigeria and Iraq.

The firm is composed of two main groups: the Cement Group and the Construction Group. OCI is adopting a strategy of actively pursuing opportunities in emerging markets through acquisitions and Green-field developments via its Cement Group, which is composed of the following main subsidiaries: Egyptian Cement (57.

3%), Algerian Cement (100%), United Cement Holding (51%; holds a 12 year lease for the operation of the Tasluja plant in Kurdistan, Iraq), Pakistan Cement Holding (100%; finalizing acquisition of 52.5% of Chakwal Cement Co.

, Northern Pakistan), National Bag (75%), and Mehsas National Bag (50%). The company's Cement Group is collectively the largest cement producer in the Middle East with total productive capacity of 14.2 mn tons/annum by the end of 2005, inclusive of 1.

2 mn tons of capacity in Kurdistan. Current Capacity stands at 7.3 mn tons/annum. OCI's Construction Group is a dominant regional contractor with significant presence in Egypt and Algeria, which provides engineering, procurement, and construction services for large-scale infrastructural and industrial projects executed by both private and regional public entities.

The Construction Group that regularly ranks among the top 200 construction contractors in the world has the following major subsidiaries: OCI (Egypt, 100%), Besix (50%), Contrack International (45%) and National Steel Fabrication (50%) among others.

OCI is based in Cairo, Egypt and employs 40,000 people in 14 countries.

Shareholding Groups

Individuals 71%
Institutions N/A
Floating 29%
Government N/A

Board Members (Listed in alphabetical order)

Stock Performance

Orascom Construction Industries Stock Performance

Market Information

Stock Egypt Index
Last Closing EGP 139 2342.38
YTD % 91.78% 50.24%
Weekly % -7.58% -5.34%
Year High EGP 152.95 2538.48
Year Low EGP 72.48 1559.12
52 Week High EGP 152.95 2538.48
52 Week Low EGP 69.69 906.69
BETA 3.257
Outstanding Shares 190,575,000
Market Cap EGP 26,489,925,000
Market Cap in $ USD $4,571,169,111
% of Egypt Market 13.04%
% of Sector 79.69%
Rank by Cap 2

Key Figures in '000 EGP

2003 2002 2001
Total Assets 2,932,236 2,618,917 2,635,529
Shareholder's Equity 1,181,191 1,120,119 961,677
NIAT 166,947 226,579 182,432
Dividends 259,875 86,625 45,375

Financial Ratios

2003 2002 2001
Assets Growth 11.96% -0.63% -40.83%
Earning Growth -26.32% 24.20% -34.63%
ROaA 6.02% 8.62% 5.15%
ROaE 14.51% 21.77% 13.92%
No. Of Shares 86,625,000 86,625,000 82,500,000
EPS 1.93 2.62 2.21
EPS Growth -26.32% 24.20% -34.63%
Payout Ratio 155.664 38.232 24.872

Valuation Ratios

Trailing
PE 158.67
PB 22.43
DVPS 1.36
Div Yield 0.98%
EV 6,314,962.50
EV/Equity 5.35
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