EQS-Adhoc
Orascom Development Holding AG: Gives Guidance for 1H 2015, and Reports 1H 2015 Audited 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 for 1H 2015, and
Reports 1H 2015 Audited Results for its Egyptian Largest Subsidiary;
Orascom Hotels and Development (OHD)
16.08.2015 / 08:00
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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Orascom Development Holding (ODH) Gives Guidance for 1H 2015, and Reports
1H 2015 Audited Results for its Egyptian Largest Subsidiary; Orascom Hotels
and Development (OHD)
Orascom Development Holding continues its positive performance in 1H 2015.
Revenues are expected to grow by 35-40% compared to 1H 2014 and the
Adjusted EBITDA is expected to be within the range of CHF 46.5 to 47.5
million. The full-fledged 1H 2015 financial results & statements will be
published as announced on the 20th of August. Management will also hold the
earnings conference call on the same day at 2.00pm CET.
We have attached below Orascom Hotels and Development (OHD)'s 1H 2015
earnings release as reported on the Egyptian Stock Exchange.
Orascom Hotels and Development; Egypt's Premier Resort Developer continues
to report a strong set of operating and financial results
Robust operational growth across all business segments with net profit of
EGP 167.1 million attributable to shareholders of the company versus a loss
of EGP 41.6 million in 1H 2014.
Solid execution of the land monetization strategy recorded a boosT in
EBITDA margin to reach 41%, value of EGP 383.3 million (1H 2014: EGP 198.5
million).
Total sales for the 1H 2015 increased by 228% to EGP 503.7 million versus
EGP 153.3 million in 1H 2014, marking the success of the company's new real
estate and development strategy.
Cairo, 16 August 2015 - Orascom Hotels and Development (OHD) revenues
increased by 25.0% to EGP 937.2 million (1H 2014: EGP 750.2 million),
resulting from the continued positive performance of the hotel segment
along with the recognition of the second and third parcels of land from the
sub-development agreement. The EBITDA for the period was EGP 383.3 million
vs EGP 198.5 million in 1H 2014.
Real Estate sales records a huge increase of 228% over the same period last
year to reach EGP 503.7 million (1H 2014: EGP 153.3 million) which also
entails an increase of 26% more than the full year 2014 sales.
The successful outcome resulting from the first implementations of the new
real estate strategy was strongly witnessed during 2Q 2015, whereby net
sales in 2Q 2015 alone increased by 307% to reach EGP 388.0 million vs. EGP
Orascom Development Holding (ODH) Gives Guidance for 1H 2015, and Reports
1H 2015 Audited Results for its Egyptian Largest Subsidiary; Orascom Hotels
and Development (OHD)
Orascom Development Holding continues its positive performance in 1H 2015.
Revenues are expected to grow by 35-40% compared to 1H 2014 and the
Adjusted EBITDA is expected to be within the range of CHF 46.5 to 47.5
million. The full-fledged 1H 2015 financial results & statements will be
published as announced on the 20th of August. Management will also hold the
earnings conference call on the same day at 2.00pm CET.
We have attached below Orascom Hotels and Development (OHD)'s 1H 2015
earnings release as reported on the Egyptian Stock Exchange.
Orascom Hotels and Development; Egypt's Premier Resort Developer continues
to report a strong set of operating and financial results
Robust operational growth across all business segments with net profit of
EGP 167.1 million attributable to shareholders of the company versus a loss
of EGP 41.6 million in 1H 2014.
Solid execution of the land monetization strategy recorded a boosT in
EBITDA margin to reach 41%, value of EGP 383.3 million (1H 2014: EGP 198.5
million).
Total sales for the 1H 2015 increased by 228% to EGP 503.7 million versus
EGP 153.3 million in 1H 2014, marking the success of the company's new real
estate and development strategy.
Cairo, 16 August 2015 - Orascom Hotels and Development (OHD) revenues
increased by 25.0% to EGP 937.2 million (1H 2014: EGP 750.2 million),
resulting from the continued positive performance of the hotel segment
along with the recognition of the second and third parcels of land from the
sub-development agreement. The EBITDA for the period was EGP 383.3 million
vs EGP 198.5 million in 1H 2014.
Real Estate sales records a huge increase of 228% over the same period last
year to reach EGP 503.7 million (1H 2014: EGP 153.3 million) which also
entails an increase of 26% more than the full year 2014 sales.
The successful outcome resulting from the first implementations of the new
real estate strategy was strongly witnessed during 2Q 2015, whereby net
sales in 2Q 2015 alone increased by 307% to reach EGP 388.0 million vs. EGP
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