Table of Contents
Key Points
- The Sawiris brothers—Nassef, Samih, and Naguib—will receive a combined $13.3 million interim dividend from Orascom Construction's strong financial performance.
- Orascom Construction's $24.25 million dividend reflects its resilience amid economic challenges, with the Sawiris brothers set to receive $13.3 million total.
- Despite a slight revenue decline, Orascom's disciplined expansion strategy and diversification helped it post $2.32 billion in revenue, maintaining profitability.
Egyptian billionaire Sawiris brothers—Nassef, Samih, and Naguib—are set to receive a combined interim dividend of $13.3 million from their combined majority stake in Orascom Construction, the construction powerhouse their father, Onsi Sawiris, founded in 1976. The payout comes as the company reaffirms its commitment to its shareholders amid economic pressures.
The three brothers hold a collective 54.86 percent stake in Orascom Construction, equating to 60.48 million shares. Nassef, who ranks as one of Egypt’s wealthiest individuals with a net worth of $7.9 billion, holds the largest share at 36.52 percent. Samih and Naguib hold 12.5 percent and 5.84 percent, respectively, with net worths of under $1 billion and $3.8 billion.
Orascom to distribute $24.25 million dividend
Orascom recently announced an interim dividend payout of $24.25 million, scheduled for Jan. 15, 2025. Nassef, Samih, and Naguib are poised to receive $8.86 million, $3.03 million, and $1.42 million, respectively. The payout reflects Orascom’s resilience in a challenging economic environment, including the effects of the Egyptian pound devaluation.
The dividend will be paid in U.S. dollars to shareholders listed on NASDAQ Dubai and in Egyptian pounds to those on the Egyptian Exchange, based on the exchange rate set by the Central Bank of Egypt as of Dec. 30, 2024.
Profits reflect resilient expansion strategy
Founded in 1976 by Onsi Sawiris, Orascom Construction remains under the control of the Sawiris family, continuing to strengthen its presence across the Middle East, Africa, and the U.S.
The company’s strong financial management and adaptability have allowed it to weather economic pressures while maintaining its growth. Its focus on expanding its project backlog and broadening its geographic reach are key to its continued success and stability.
Despite facing economic pressures in its key markets, especially the MENA region, Orascom posted $2.32 billion in revenue for the latest period, a slight decline of 1.92 percent from last year’s $2.37 billion. Its performance was supported by disciplined financial management and continued expansion efforts, particularly in the Middle East, Africa, and the U.S.
Orascom’s adjusted EBITDA reached $119.4 million, and its adjusted net income attributable to shareholders stood at $86.3 million, underscoring the company’s ability to adapt and thrive amidst regional economic headwinds.
