Orascom Development Holding AG Releases Q1 2024 Financial Results

Orascom Development Holding AG (ODH) reported its consolidated financial results for Q1 2024, highlighting strong performance across its sectors. Real estate sales reached CHF 256.7 million, marking a 143.1% increase. Total revenues rose by 15.7% to CHF 151.5 million, while adjusted EBITDA grew by 19.9% to CHF 44.0 million.

The company showed resilience despite geopolitical tensions in the Middle East and economic challenges in Egypt. ODH's diversified business model and prudent cost management contributed to its solid performance. The organization reported an adjusted net profit of CHF 26.7 million, a 3.1% rise from Q1 2023.

Real estate sectors saw notable growth, with sales in El Gouna up by 232.7% to CHF 116.1 million and O West's transactions increasing by 154.9% to CHF 86.4 million. The company also boosted revenues in its hospitality segment by 10.6%, totaling CHF 44.9 million.

Operational highlights include overcoming economic volatility, maintaining liquidity, and generating strong cash flows—positioning ODH well for future growth opportunities.