EQS-Adhoc

Orascom Development Holding AG announces preliminary unaudited KPIs for FY 2021, recording CHF 632.5 million of net real estate sales, the highest value in ODH's history.

EQS-Ad-hoc: Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous Orascom Development Holding AG announces preliminary unaudited KPIs for FY 2021, recording CHF 632.5 million of net real estate sales, the highest value in ODH's history. 19-Jan-2022 / 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. Press Release

Orascom Development Holding (ODH); announces preliminary unaudited KPIs for FY 2021, recording CHF 632.5 million of net real estate sales, the highest value in ODH's history.

Altdorf, 19 January 2022 - Orascom Development Holding (ODH) announces its preliminary real estate and hotels KPIs' for FY 2021. Full results will be announced on March 30, 2022.

Real Estate FY 2021 KPIs:

New sales for 4Q 2021 reached CHF 187.6 million, a 47.8% increase from CHF 126.9 million in 4Q 2020. That brings our FY 2021 sales value to CHF 632.5 million, a 50.1% increase over FY 2020 and 30.7% increase over FY 2019. Our operations continued to progress during 4Q 2021. We had a robust quarter with strong demand for secondary homes, complemented by solid sales momentum in Egypt and Montenegro.

2021 has been a year where we continued to strengthen our positioning, focused on execution, and further horizon expansions. Even during the midst of the pandemic, all our residential projects received strong interest across our destinations. We also continue to leverage consumer insights, identifying the emerging buying behavior trends post pandemic and accordingly designing an array of products that will potentially cater to their needs.

In El Gouna, new real estate sales grew by 72.5% to CHF 235.7 million in FY 2021 vs. CHF 136.6 million in FY 2020. O West continues to affirm its leading position in West Cairo and recorded CHF 231.2 million in sales for FY 2021, a growth of 39.5% compared to EGP 165.7 million in FY 2020. Makadi Heights, continued to deliver excellent sales performance since the beginning of 2021. Net sales increased by 158.1% to CHF 68.9 million up from CHF 26.7 million in FY 2020.

Interest in Luštica Bay, Montenegro has continued to flourish since the beginning of the year. Net sales increased by 356.3% to CHF 58.4 million in FY 2021 from CHF 12.8 million in FY 2020.

Our destinations in Oman managed to sustain healthy sales volumes despite the lockdowns that were in place during the year. Jebel Sifah sales increased by 3.0% to CHF 27.5 million (FY 2020: CHF 26.7 million). 2021 Hawana Salalah has been challenging for the destination given the constant closures and measures set by the government due to Covid-19. Net sales decreased by 29.3% to CHF 10.7 million in FY 2021.

In Andermatt, Switzerland net sales grew by 58.4% to CHF 122.0 million in FY 2021 vs. CHF 77.0 million in FY 2020.

FY 2021 vs. FY 2020 Real Estate KPIs:

		Net Sales (CHF mn)				No. of contracted units				Average selling price (CHF/m2)
Country	Destination	FY 2021	FY 2020	Δ in %		FY 2021	FY 2020	Δ in %		FY 2021	FY 2020	Δ in %
Egypt	El Gouna	235.7	136.6	72.5%		381	235	62.1%		3,565	3,357	6.2%
	Makadi & Byoum	69.2	27.3	153.5%		344	166	107.2%		1,767	1,100	60.6%
	O West	231.2	165.7	39.5%		730	547	33.5%		1,786	1,517	17.7%
	Land sales*	-	37.5	-		-	-	-		-	-	-
Oman	Jebel Sifah	27.5	26.7	3.0%		87	125	(30.4%)		2,331	2,326	0.2%
	Hawana Salalah	10.4	14.7	(29.3%)		63	90	(30.0%)		2,093	2,059	1.7%
Montenegro	Luštica Bay	58.4	12.8	356.3%		113	23	391.3%		5,091	5,359	(5.0%)
Switzerland	Andermatt	122.0	77.0	58.4%		92	71	29.6%		15,368	13,916	10.4%
ODH excluding Andermatt**		632.5	421.3	50.1%		1,718	1,186	44.9%
ODH including Andermatt**		754.5	498.3	51.4%		1,810	1,257	44.0%

 

* Land sales in FY 2020 includes CHF 6.4mn of land sales in Gouna and CHF 31.1mn in O West.
** Net sales value for FY 2021 includes 2 units sold in Fayoum for CHF 0.3mn (FY 2020: CHF 0.6mn, with 2 units sold).
** Andermatt figures are not included in ODH net sales figures as ODH owns 49% stake of Andermatt and thus it is not consolidated.

Hotels FY 2021 KPIs:

International demand for the hospitality segment started to improve during 2H 2021 and particularly in Q4 2021, as vaccine deployment accelerated, and lockdowns eased across the EMEA region. Our portfolio continued to gather revenue momentum through Q4 2021.

In Egypt, as per the governmental decree, hotels increased their operational capacity to 100% since the end of October 2021. Our hotels in El Gouna and in Taba Heights have benefited from this uptick with occupancies for Q4 2021 reaching 69% and 13% respectively and 45% and 11% for FY 2021. Foreigners represented c. 57% of our total occupancy in Gouna during Q4 2021 and 42% for FY 2021.

Our Omani hotels were impacted by the restrictions and the locally enforced lockdowns imposed by the government due to Covid-19 for FY 2021. Hawana Salalah had only one hotel operational with an occupancy of 13% for FY 2021. In September, the country opened its doors to international charter business; hence a restart of operation from the East European countries, which lead to a general increase in occupancy levels in 4Q 2021.

The Cove, UAE, continues to be one of the best performing hotels across the group with occupancy rate up to 55% in FY 2021 from 41% in FY 2020. The enhanced operational performance is driven by transient local market, while we see a steady pick-up from our international markets mainly from Russia and Germany.

In Luštica Bay, Montenegro, The Chedi Hotel witnessed a strong summer season, drawing considerable attention and interest from local and international markets, reporting 79% occupancy rate during Q3 2021. The occupancy for FY 2021 reached 45%, up from 12% in FY 2020.

In Andermatt, Switzerland, The Chedi Andermatt reported a 70% occupancy rate in FY 2021 and Radisson Blu Hotel Reussen occupancy rate reached 44% during 2021. Overall, the occupancy for FY 2021 reached 53%, up from 45% in FY 2020.

FY 2021 vs. FY 2020 Hotels KPIs:

		Occupancy %			ARR (CHF)			TRevPAR (CHF)			GOP PAR (CHF)
Destination		FY 2021	FY 2020		FY 2021	FY 2020		FY 2021	FY 2020		FY 2021	FY 2020
El Gouna		45	27		85	75		53	28		22	3
UAE		55	41		132	123		119	78		33	23
Montenegro		45	12		179	135		140	37		8	(33)
Hawana Salalah		13	22		89	113		18	36		(12)	(2)
Andermatt*		53	45		515	477		475	351		124	67
Taba Heights		11	11		31	27		5	5		(3)	(6)
Jebal Sifah		40	31		110	100		81	60		(6)	(5)

 

* Andermatt figures are not included in ODH numbers as ODH owns 49% stake of Andermatt and thus it is not consolidated.
* Occupancy rates reflects the occupancy from hotel guests only, not factoring in the room nights generated with residence owners.

About Orascom Development Holding (ODH):

ODH is a leading developer of fully integrated destinations that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. ODH's destinations are distributed over seven different countries (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro, and United Kingdom), with primary focus on touristic destinations. ODH currently operates nine destinations: four in Egypt (El Gouna, Taba Heights, Makadi Heights and Byoum), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro, and Andermatt in Switzerland. ODH recently launched O West, the latest addition to its portfolio and its first project in Cairo, Egypt, located on the Sixth of October City.

Contact for Investors:
Sara El Gawahergy
Head of Investor Relations & Strategic Projects Management
Tel: [phone]
Tel: [phone]
Mob: [phone]
Email: [e-mail]

Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: [phone]
Email: [e-mail]


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End of ad hoc announcement

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Language:	English
Company:	Orascom Development Holding AG
	Gotthardstraße 12
	6460 Altdorf
	Switzerland
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.orascomdh.com
ISIN:	CH0038285679
Valor:	A0NJ37
Listed:	SIX Swiss Exchange
EQS News ID:	1270098

End of Announcement	EQS News Service

1270098  19-Jan-2022 CET/CEST