Orascom Construction (OC) reported a full-year consolidated net loss of USD 347.8 mn impacted by a one-off loss related to the construction of Iowa Fertilizer Company, despite exceptionally strong growth in MENA. OC is emphasizing strong fundamentals, with its backlog up 14% to USD 6.7 bn as it signed new contracts worth USD 4.8 bn in Egypt and the US, according to the release. The company expects to return to profitability in 1Q2016 with estimated revenue of approximately USD 900 mn and positive consolidated EBITDA, according to CEO Osama Bishai. Notably, the company’s pro-forma backlog including its 50% stake in BESIX increased 10% to USD 8.4 bn. On Saudi Arabia, where many contractors are running into payment issues, Bishai noted that, “While we are facing a challenging market environment in Saudi Arabia that has affected our project execution and profitability, we are working on mitigating our exposure there and are focused on executing our current projects while remaining selective on new opportunities.” Of particular interest to investors are suggestions of a new element in the company’s business strategy, as Bishai noted: “Furthermore, we continue to work on creating a sustainable concessions portfolio alongside our [engineering, procurement and construction business], building both materials and property management business units to support our long-term growth and provide additional recurring cash flows.”