Orascom Development Holding AG Announces Strong FY 2023 Financial Results

Orascom Development Holding AG (ODH) has publicly disclosed its consolidated financial figures for the fiscal year 2023, highlighting notable achievements despite global economic challenges. With real estate sales reaching CHF 704.2 million and a net profit of CHF 54.4 million, ODH reports a resilient operational performance amidst various pressures including rising inflation, geopolitical instability, and currency devaluation.

The company's total revenues stood at CHF 655.2 million, and it achieved an adjusted EBITDA of CHF 174.4, indicating a margin of 26.6%. The net profit saw an increase of 6.0% over the previous year, showcasing the effectiveness of ODH's diversified business model and strategic adjustments aimed at maintaining growth. This robust performance was further bolstered by a marked increase in hospitality revenues, up by 19.4% year-over-year, signaling solid demand for the company's hotel offerings even in challenging market conditions.

The fourth quarter of 2023 also displayed strong results, with total revenues slightly increasing and net profit surging by 50.3% to CHF 26.6 million compared to the same period in the previous year. ODH's real estate sector remained stable despite the adverse effects of currency devaluation and rising construction costs, while the hospitality sector experienced impressive growth, with guest numbers reaching 2.7 million in FY 2023.

Looking ahead, ODH is committed to pursuing its strategy for profitable growth, emphasizing agility and cost efficiency to navigate future economic uncertainties and continue delivering value to its stakeholders.