Brief: Orascom Development Holding reports qtrly revenues of CHF 74.1 mln

Orascom Development Holding AG

05/06/2018 23:54

June 5 (Reuters) - Orascom Development Holding AG  ODHN.S :
    * EQS-ADHOC: ORASCOM DEVELOPMENT HOLDING AG:TURNAROUND
STRATEGY
BEARING ITS FRUITS WITH SIGNIFICANT INCREASE ON THE OPERATIONAL
AND FINANCIAL LEVEL ACROSS ALL SEGMENTS. REVENUES GREW BY 41.1%
TO CHF 74.1 MILLION, ADJUSTED EBITDA INCREASED BY 206.3% TO CHF
1
    * NET REAL ESTATE SALES INCREASED 2.5 TIMES TO CHF 39.8
MILLION IN
Q1 2018
    * NET LOSSES WERE SIGNIFICANTLY REDUCED BY 59.2% TO REACH
CHF 5.1
MILLION IN Q1 2018 VERSUS. CHF 12.5 MILLION IN Q1 2017
    * REVENUES INCREASED BY A 41.1% Y-O-Y TO REACH CHF 74.1
MILLION IN
Q1 2018 VERSUS. CHF 52.5 MILLION IN Q1 2017
    * QTRLY  ADJUSTED EBITDA INCREASED TO CHF 14.7 MILLION
RECORDING A
206.3% GROWTH FROM CHF 4.8 MILLION IN Q1 2017
    * ORASCOM DEVELOPMENT HOLDING - QTRLY HOTELS REVENUES
INCREASED BY
30.5% TO CHF 40.2 MILLION AND GROSS OPERATING PROFITS (GOP)
INCREASED BY 52.6% TO CHF 17.7 MILLION
    * ORASCOM DEVELOPMENT - REMAIN ON TRACK WITH FINALIZING
NECESSARY
DOCUMENTATION FOR SALE OF EARLIER COMMUNICATED 3 HOTELS IN
MAKADI FOR TOTAL EV OF CHF 49.0 MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nEQ376C9ca
Further company coverage:  ODHN.S 

 ((Reuters.Briefs@thomsonreuters.com;))