Orascom Development Holding AG announces its Egyptian Subsidiary (ODE) FY 2022 Financial Results

Ad hoc announcement pursuant to Art. 53 LR. 

Orascom Development Holding AG announces its Egyptian Subsidiary (ODE) FY 2022 Financial Results.

Altdorf, 20 March 2023 – Orascom Development Holding AG (ODH) is pleased to announce that Orascom Development Egypt (ODE); the largest Egyptian subsidiary of the Group, has reported its FY 2022 financial results. Please find the earnings release along with the presentation under the link below:

https://www.orascomde.com/investor-relations/financial-reports

Orascom Development Holding (ODH) FY 2022 results will be announced as scheduled on Tuesday the 30^th of March at 7:00 am CET.

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:
Ashraf Nessim                                                                                                                                     
Chief Financial Officer                                       
Mobile: +20 122 213 1612
Tel: +41 418 74 17 11                                                                        
Email: ir@orascomdh.com                                                                

Ahmed Abou El Ella                                                                                                                                            
Investor Relations Director                                              
Mobile: +20 122 129 5555                                                                
Email: ahmed.abouelella@orascomdh.com
 
Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch

Disclaimer and Cautionary Statement

The information contained in this e-mail, its attachment and in any link to our website indicated herein is not for use within any country or jurisdiction or by any persons where such use would constitute a violation of law. If this applies to you, you are not authorized to access or use any such information. Certain statements in this e-mail and the attached news release may be forward-looking statements, including, but not limited to, statements that are predications of or indicate future events, trends, plans or objectives. Forward-looking statements include statements regarding our targeted profit improvement, return on equity targets, expense reductions, pricing conditions, dividend policy and underwriting claims improvements. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and Orascom Development Holding’s plans and objectives to differ materially from those expressed or implied in the forward-looking statements (or from past results). Factors such as (i) general economic conditions and competitive factors, particularly in our key markets; (ii) performance of financial markets; (iii) levels of interest rates and currency exchange rates; and (vii) changes in laws and regulations and in the policies of regulators may have a direct bearing on Orascom Development Holding’s results of operations and on whether Orascom Development Holding will achieve its targets. Orascom Development Holding undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events, or circumstances or otherwise. It should further be noted that past performance is not a guide to future performance. Please also note that interim results are not necessarily indicative of the full-year results. Persons requiring advice should consult an independent adviser.