Orascom Development Egypt has released its consolidated financial results for 1H 2022

Orascom Development Egypt has released its consolidated financial results for 1H 2022

- ODE achieves real estate sales of EGP 4.7 billion in 1H 2022, a 16.9% growth from last year and total revenue increased by 27.6% to EGP 3.8 billion. Net profit reached EGP 858.3 million, an increase of 15.3% y-o-y.

Key Highlights of 1H 2022 vs. 1H 2021

- Total revenues increased by 27.6% to EGP 3.8 billion

- Adj. EBITDA up 20.3% to EGP 1.4 billion with a margin of 36.4%

- Net profit up 15.3% to EGP 858.3 million

- Cash flow from operations reached EGP 632.1 million

- Net real estate sales for 1H 2022 up 16.9% to EGP 4.7 billion, the highest first-half sales figures in ODE’s history.

- Total deferred revenue from real estate increased by 36.7% to EGP 14.0 billion in 1H 2022

- Real estate cash collection up 29.0% to EGP 27 billion in 1H 2022

Key Highlights of Q2 2022 vs. Q2 2021

- Total revenues increased by 23.0% to EGP 1.9 billion

- Adj. EBITDA up 18.5% to EGP 667.7 million with a margin of 35.4%

- Net profit up 28.9% to EGP 394.6 million

- Net real estate sales for Q2 2022 increased by 39.4% to EGP 2.6 billion

- Real estate cash collection up 30.5% to EGP 1.4 billion

Cairo – Pursuing the same