Press Release
Drake & Scull International Announces Q2 2022
Results
Dubai, UAE, 12 August 2022: Drake & Scull International PJSC (DSI), a regional
market leader in integrated design, engineering, and development in the (MEP),
Water and Power and Oil and Gas sectors released today its reviewed financial
results for the Q2 ended 30 June 2022 reporting a Gross Profit of AED 1 million
compared to a Gross Profit of AED 11 million for the same period in 2021.
 Revenue achieved was AED 45 million compared to AED 82 million for the same period
in 2021.
 Loss from continued operations was AED 90 million compared to a profit of AED 77
million for the same period in 2021.
 Reduction in general and administrative expenses from AED 33 million to AED 23
million, equivalent to 31%, compared to the same period in 2021.
 Accumulated Losses increased to AED 4,963 million compared to AED 4,824 million for
the same period in 2021.
 Total Negative Equity increased to AED 3,975 million compared to AED 3,829 million
for the same period in 2021.
DSI order backlog is AED 474 million driven by ongoing operations in the UAE and
overseas countries.
Commenting on the announcement, Eng. Shafiq Abdelhamid, Chairman of DSI
PJSC, said, “Further to our previous announcement on 23 May 2022 related to
completing the restructuring process, we are currently focusing on obtaining the
approval of the competent court to be able to implement the plan.
At the last hearing on 20th April 2022, the court decided to appoint an expert to
review the procedure that has been taken by the company in relation with the
requirements of the restructuring plan.
The expert submitted his report confirming the company's ability to implement the
restructuring plan.The company is looking for the next hearing on 5th of September 2022 for the court
review and decision.
Once the procedures for the application submitted to the court are completed, the
rest of the procedures agreed upon in the plan will be completed, including raising
the company's capital and submitting a request to return the company's shares to
trade in the Dubai Financial Market.
We are grateful for the patience of our shareholders as we seek to restructure the
company, thereby protecting as far as possible their investments and the livelihoods
of many hundreds of families. We will continue to make all possible efforts to ensure
that DSI PJSC shares will resume trading on the Dubai Financial Market after the
completion of the restructuring”.
-Ends-
About Drake & Scull International PJSC
Drake & Scull International PJSC (DSI) is a regional market leader in world-class Integrated Design,
Engineering, and Construction projects. DSI‘s main business streams include Engineering (MEP),
Construction, District cooling plants, Oil & Gas, and Water & Wastewater Treatment plants. The company
operates across the GCC & rest of the Middle East as well as Europe. DSI has completed more than 700
projects around the world in the Residential and mixed-use real estate, Aviation, Power plants, District
cooling plants, Hospitality, Healthcare, Renewable energy, Data center, Petrochemical, Rail, Commercial,
Government, Leisure and Infrastructure sectors.
For media inquiries, please contact:
Drake & Scull International PJSC
Sherouk Elghobashy
Investor Relations
Tel: +971-4-528-3444
E-mail: IR@drakescull.com

Sentiment: neutral