Orascom Development Egypt - ORHD, has released its financial earnings release for the nine months ended in 2023. Net profit increased by 32.9% to exceed EGP 2.0 billion despite being affected by EGP 236.4 million FX losses due to the devaluation of the Egyptian currency
The following data received from ORHD Investor Relations and also available at ORH website through the following link as well as attached below:
*Prices as of session end of 12/11/2023. Prices Source: EGVEST
The following data received from ORHD Investor Relations and also available at ORH website through the following link as well as attached below:
Orascom Development Egypt (ODE) (EGX: ORHD.CA) has released its
consolidated financial results for 9M 2023.
ODE reports a record-high of EGP 13.1 billion in real estate sales during 9M 2023, an
increase of 80%y-o-y. Revenues stood at EGP 10.4 billion while net profit stood at EGP 2.0
billion
Key Highlights of 9M 2023 vs. 9M 2022
▪ Total revenues increased by 55.0% to EGP 10.4 billion
▪ Adj. EBITDA up 57.5% to EGP 4.0 billion with a margin of 38.3%
▪ Net profit increased by 32.9% to exceed EGP 2.0 billion despite being affected by EGP 236.4 million FX losses due to the devaluation of the Egyptian currency
▪ Our hospitality revenues increased by 111.5% to EGP 2.3 billion
▪ Net real estate sales for 9M 2023 were up by 80% to EGP 13.1 billion
▪ Sold a 45,350 sqm of land in El Gouna for a total value of c. EGP 390 million
Key Highlights of Q3 2023 vs. Q3 2022
▪ Total revenues increased by 45.3% to EGP 4.2 billion
▪ Adj. EBITDA up 48.3% to EGP 1.7 billion with a margin of 40.3%
▪ Net profit up 52.8% to exceed EGP 1.0 billion
▪ Net real estate sales for Q3 2023 recorded EGP 5.6 billion, the highest quarter in the
company’s history, with a 115.0% increase.
Disclaimer and Terms of Use
The data provided on any page at www.egvest.com aren't for any investment decision or taking any action of buy or sell of any asset or investments of any type; the information on this page has been obtained from sources that EGEVST believed to be reliable, we have not independently verified such information, and it may not be accurate or complete.
EGVEST.com published a delayed feed for the Egyptian stock exchange executed stocks and its leading indices through a previous contract with EGID "Egypt for Information Dissemination" the delayed feed is referred to below as "information."
The "information" displayed and published by EGVEST.com could lead to financial losses. It should be used on a personal and only personal responsibility. The "information" contains simplified mathematical calculations that clarify, simplify, and classify the "information" without using any financial valuation methods and don't represent any recommendation to buy, sell or hold financial assets.
The Data source is the Central Bank of Egypt website and on this system for display only without any analysis or recommendations
Comentários