Orascom Development Holding AG Q2 2024 Financial Results: Robust Growth Amid Challenges

Orascom Development Holding AG (ODH) reported strong financial results for Q2 2024, underscoring solid performance despite a challenging environment. The net profit for Q2 2024 reached CHF 10.9 million, a 53.5% increase.

Total revenues jumped by 24.7% to CHF 160.9 million, driven by robust real estate sales and improved recurring income segments. Adjusted EBITDA grew by 69.4% to CHF 55.9 million. For the first half of 2024, total revenues rose by 20.7% to CHF 306.4 million, while adjusted net profit increased by 35.6% to CHF 41.9 million.

ODH successfully completed two monetization deals worth CHF 67 million and saw real estate sales soar by 59% to CHF 433 million. The company navigated economic instability and geopolitical tensions, showcasing resilience through its diverse business strategy and operational efficiency.