摘要
众所周知的,建筑公司遇到风险,同时建筑公司对商业环境的趋势和波动敏
感。衡量一个公司的财务状况,作为监测和评估其管理能力的基础,资源分配和
企业战略应对环境变化能力。预测在应对潜在的问题与保持良好发展的方面很重
要,延续长久的竞争力。尽管如此,很少有研宂的前提是关注这个概念和经验

因此,本研宄的主要目的是预测模型和公司建设Orascom和中国建筑工程公司综
合财务绩效的企业环境下的动态影响。这项研究为更好的战略决策与在行业内组
织定位提供了有用的信息以及改进的能力。调查企业效率资源和他们的战略的有
效性,为企业提高效率提供建议

在这项研宄中,财务比率分析对盈利能力,流动资金,杠杆,活动比率,现
金流进行分析。这些数据来自Orascom建筑公司的年度报告与在中国建筑工程总
公司的财务报表

论文研宄从2006年至2015年,这十年被选择了,因为这十年是两个公司的
最后的财务信息,也是笔者所能找到的报表

本论文综述了各种行业的性能测量文献的目的,是把最佳实践转化为施工为
目的。提出了一个框架,以确保有效的战略部署,施工组织可以采用的绩效管理
体系,从而合理化之间的关系,从战略目标性能的措施。在这些措施下,这些措
施对组织的性能的影响,可以检查和分析,以显示潜在的改善

在研宄中得出结论,盈利能力是公司的业绩指标。建筑业的一般盈利趋势可
-
能会被良好经营活动否定,从而最大限度地减少直接成本,增加盈利。中国建筑
工程总公司在研宄中证明,运行良好的资产能带来很好的利润

流动性比率进行了分析,认为该公司的能力,流动资产现有的流内满足其流
动负债。理想的流动性比率(1.5-2倍)是一个公司的立场,一个很好的指标和样
本,公司会议的理想的流动比率的标准

本研宄构建的模型是公司比较分析模型,该模型依赖于比较同行业的两个公
司,评估其性能,并发现错误的行为,它将与杜邦分析模型相结合,以帮助研宄
人员确定所开发的模型及其结果

Abstract
目前研宄的最终结果是一个性能等级,它提供了一个建筑公司的表现。开发
的模型进行了验证,显示了强大的结果

关键词:财务分析5比率;Orascom:埃及建筑工业;中国建筑工业;公司绩效 Abstract
Abstract
It is well recognized that construction firms encounter risk and are sensitive to
trends and volatility in the business environment. Measuring the financial performance
of a firm serves as the basis for monitoring and evaluating its management competence,
resource allocation, and corporate strategy in response to environmental change.
Forecasting is paramount in responding to potential problems and perpetuating positive
developments that result in sustainable competitiveness. Notwithstanding that,little
research attention has been paid to this premise conceptually and empirically. Thus, the
overall aim of this study was to model and forecast the general financial performance of
Orascom construction company and China state construction engineering under the
dynamic influence of the business environment. The research would provide useful
information for better strategic decisions in organizations to positioning them within the
industry with improved performance. The findings give the recommendation for firms
to improve performance through understanding the efficiency resources and
effectiveness of their strategies.
In this research, financial ratio analysis has been conducted regarding profitability
ratios, liquidity ratios, leverage ratios, activity ratios, cash flow ratios. The data were
taken from annual reports of Orascom construction company and the financial
statements of the China state construction engineering company.
The studied years were 2006-2015, The ten years were chosen because these are
the last years and last information about these two companies the researcher can find.
This paper presents a review of literature of performance measurement in various
industries with the aim of transferring best practice into construction. A framework is
presented which ensures that effective strategies are deployed to form the performance
-
management system that construction organizations can adopt, so it rationalizes the
relationships between performance measures and goals derived from strategy. In doing
so, the impact of those measures on an organization’s performance can be examined and
analyzed to indicate potential improvement areas.
It is concluded in the study that profitability is the performance indicator of
companies. A General profitability trend in the construction industry may be negated by
well performed operational activities, which minimizes the direct cost and increases the
Abstract
profitability. China state in the study has proved that well-operated assets can bring
good profits to the company.
Liquidity ratios have been analyzed to adjudge the company5s capability to meet
its current liabilities within existing stream of current assets. Desirable liquidity ratio of
(1.5-2 times) is a good indicator of a company’s position and the sample chosen
companies are meeting the standards of the desirable liquidity ratio.
The constructed model in this research is Coir^parative Conqjany Analysis model this
”
model depaids on comparing the two ccrapanies of the same industry to evaluate its paformance and
to find tiie mistakes to practice the perfimiance, and it will mix with DuPont analysis model to
help the researcher make sure about the developed model and its results.
The final outcome of current research is a perfonnance grade, which provides the
performance of a construction company. The developed model is validated, which
shows robust results.
Keywords: financial analysis; ratios; Orascom; Egyptian construction industry;
Chinese construction industry; performance
勹
Table of contents
Table of contents
Abstract .v/
Table of contents.
viii
Chapter 1 Introduction.1.1 Background of study1.2 Aim and significance1.2.1 Aim and purpose1.2.2 Significance of the study1.3 Structure of the study1.3.1 Short review of methodology of the study1.3.2 Organization of the study1.3.3 Innovation of the studyChapter 2 Literature review.2.1 Historical research result on the subject by previous researchers2.2 Overview of new studies related to the study and recommendations 13
2.3Respiration of the studyChapter 3 Construction of the model.3.1 Definitions and basic terms....
.........20
3.2 Differentiate of the models
34
3.3 The constructed model
35
.
Chapter 4 Financial analyzing for the two companies.
28
4.1 Data sources
28
4.2 The way of calculating the ratios
28
Chapter 5 Suggestions and conclusion.
70
5.1 Findings and suggestions
.70
5.2 Conclusion
75
REFERENCES.
78
APPENDIXES.
81
1. China state construction engineering financial statements
81
Table of contents
2. Orascom construction financial statements
84
Acknowledgement
87
■＊
LIST OF TABLES AND FIGURES
LIST OF TABLES AND FIGURES
FIGURES
Figure 4-1 gross profit margin
29
FIG.4-20PERATING PROFIT MARGIN
30
FlG.4- 3 NET PROFIT MARGIN 31
FIG.4-4 RETURN ON TOTAL ASSETS
32
FIG 4-5 RETURN ON ASSETS
33
Fig .4-6 Operating return on assets (OROA)
34
Fig.4- 7 Return on operating assets (ROOA)
35
Fig 4-8 EQUITY RATIO 36
FIG 4-9 ROE 37
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