Orascom Development Holding AG

has released its consolidated financial results for Q1 2024

Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous Orascom Development Holding AG: has released its consolidated financial results for Q1 2024 21-May-2024 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR.

Orascom Development Holding (“ODH”) (SIX ODHN.SW) has released its consolidated financial results for Q1 2024.

During Q1 2024, ODH achieved a strong performance, with real estate sales of CHF 256.7 million, up by 143.1%. Total revenues increased by 15.7% to CHF 151.5 million despite the challenging business environment.

Key Highlights of Q1 2024

• Total revenues went up by 15.7% to CHF 151.5 million.
• Adj. EBITDA increased by 19.9% to CHF 44.0 million, with a 29.0% margin.
• Adjusted net profit of CHF 26.7 million, up 3.1% vs. Q1 2023.
• Net real estate sales grew by 143.1% to CHF 256.7 million, the highest Q1 sales figure in ODH’s history.
• Cash flow from operations back to green to CHF 42.4 million, signaling our operational excellence.

Altdorf, 21 May 2024 - Despite the challenges posed by the ongoing war in Gaza, geopolitical tensions in the Middle East, and the economic backdrop in Egypt, ODH has demonstrated a solid operational and financial performance in Q1 2024. This is a testament to the strength of our diversified business model, which has enabled the core underlying business to weather the storm and deliver a robust performance. Our prudent cost management has also supported our strong operational performance, which has helped mitigate the impact of the challenging economic conditions in Egypt. We have also maintained a robust balance sheet, with healthy liquidity and strong cash flows, which places us in an excellent position to pursue future growth opportunities.