Orascom Development Holding AG announces its Egyptian Subsidiary (ODE) FY 2022 Financial Results
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Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous Ad hoc announcement pursuant to Art. 53 LR. Press Release 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
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.
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. End of Inside Information |
| Language: | English |
| Company: | Orascom Development Holding AG |
| Gotthardstraße 12 | |
| 6460 Altdorf | |
| Switzerland | |
| Phone: | +41 41 874 17 17 |
| Fax: | +41 41 874 17 07 |
| E-mail: | ir@orascomdh.com |
| Internet: | www.orascomdh.com |
| ISIN: | CH0038285679 |
| Valor: | A0NJ37 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1586031 |
| End of Announcement | EQS News Service |
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1586031 20-March-2023 CET/CEST
