Solide operational efficiency of Orascom Development Holding AG despite EGP devaluation and rising rates.

Published an ad-hoc communiqué from Orascom Development Holding AG presenting the company's financial results for the first 9 months of 2023.

Despite the devaluation of the Egyptian pound and the rise in interest rates, the company showed a solid operating performance.

Turnover decreased by 8.0% to CHF 422.8 million in 9M 2023, but net profit amounted to CHF 27.8 million.

The company's divisions saw growth, particularly the Egyptian subsidiary, where sales volumes rose 55%.

Also favorable dynamics was noted in the segment of hotel business, where the profit grew by 23.7% in annual terms.

Total real estate realized reached CHF 468.1 million in 9M 2023.

The company continues to work hard to develop its projects around the world, including Egypt, Oman, Montenegro and other countries.

Detailed reports on the company's financial results can be found on its official website.