EQS-Adhoc
Orascom Development Holding AG: Gives Guidance with Strong Preliminary Results for FY 2014, and Reports FY 2014 Results for its Egyptian Largest Subsidiary; Orascom Hotels and Development (OHD)
EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development Holding AG: Gives Guidance with Strong Preliminary
Results for FY 2014, and Reports FY 2014 Results for its Egyptian
Largest Subsidiary; Orascom Hotels and Development (OHD)
30.03.2015 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
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Press Release
Orascom Development Holding (ODH) Gives Guidance with Strong Preliminary
Results for FY 2014, and Reports FY 2014 Results for its Egyptian Largest
Subsidiary; Orascom Hotels and Development (OHD)
Orascom Development Holding witnessed a positive year with an increase in
both top & bottom line results. Revenues are expected to grow by 10-15%
compared to FY 2013 and net profit attributable to the owners of the parent
company is also expected to substantially increase to be within the range
of CHF 37 to 42 million. The full-fledged 2014 financial results &
statements will be published as announced on the 14th of April and the
Annual Report on the 23rd of April.
We have attached below Orascom Hotels and Development (OHD)'s FY 2014
earnings release as reported on the Egyptian Stock Exchange.
Orascom Hotels and Development (OHD) FY 2014 Earnings Release:
In the full year 2014, Orascom Hotels and Development (OHD); the largest
Egyptian subsidiary of Orascom Development Holding (ODH) reports a
significant turn-around in its net profits, generating EGP 100.0 million
attributable to shareholders of the company after a loss of EGP 553.1
million in FY 2013. The enhanced operational performance from all business
segments, accompanied by the sound execution of our cost savings program
and the accelerated monetization of our land, have boosted the EBITDA
margins to reach 39.2%, value of EGP 562.1 million (FY 2013: EGP (32.7)
million).
Cairo, 30 March 2015 - Orascom Hotels and Development (OHD) revenues
increased by 20.1% to EGP 1,434.6 million (FY 2013: EGP 1,194.8 million),
on the back of strong real estate & construction revenues, increased hotel
occupancy rates during the second half of the year and the increased land
revenues resulting from the successful third-party development agreement
between OHD and El Sewedy to sub-develop a piece of land in El Gouna. The
Press Release
Orascom Development Holding (ODH) Gives Guidance with Strong Preliminary
Results for FY 2014, and Reports FY 2014 Results for its Egyptian Largest
Subsidiary; Orascom Hotels and Development (OHD)
Orascom Development Holding witnessed a positive year with an increase in
both top & bottom line results. Revenues are expected to grow by 10-15%
compared to FY 2013 and net profit attributable to the owners of the parent
company is also expected to substantially increase to be within the range
of CHF 37 to 42 million. The full-fledged 2014 financial results &
statements will be published as announced on the 14th of April and the
Annual Report on the 23rd of April.
We have attached below Orascom Hotels and Development (OHD)'s FY 2014
earnings release as reported on the Egyptian Stock Exchange.
Orascom Hotels and Development (OHD) FY 2014 Earnings Release:
In the full year 2014, Orascom Hotels and Development (OHD); the largest
Egyptian subsidiary of Orascom Development Holding (ODH) reports a
significant turn-around in its net profits, generating EGP 100.0 million
attributable to shareholders of the company after a loss of EGP 553.1
million in FY 2013. The enhanced operational performance from all business
segments, accompanied by the sound execution of our cost savings program
and the accelerated monetization of our land, have boosted the EBITDA
margins to reach 39.2%, value of EGP 562.1 million (FY 2013: EGP (32.7)
million).
Cairo, 30 March 2015 - Orascom Hotels and Development (OHD) revenues
increased by 20.1% to EGP 1,434.6 million (FY 2013: EGP 1,194.8 million),
on the back of strong real estate & construction revenues, increased hotel
occupancy rates during the second half of the year and the increased land
revenues resulting from the successful third-party development agreement
between OHD and El Sewedy to sub-develop a piece of land in El Gouna. The
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