Cairo – The consolidated net losses of Orascom Financial Holding (OFH) widened to EGP 133.39 million in 2022 from EGP 102.11 million in 2021, including minority interest.

Loss per share reached EGP 0.014 last year, higher than EGP 0.004 in 2021, according to the income statements.

The total assets plummeted to EGP 2.56 billion as of 31 December 2022 from EGP 4.44 billion a year earlier.

Standalone Financial Results

The EGX-listed firm reported standalone net losses after tax worth EGP 201.95 million in 2022, against net profits of EGP 89.82 million a year earlier.

Non-consolidated loss per share hit EGP 0.03 during the 12-month period that ended on 31 December 2022, versus earnings per share (EPS) of EGP 0.01 in 2021.

Meanwhile, the total assets retreated to EGP 2.38 billion from EGP 2.66 billion.

In the first nine months (9M) of 2022, Orascom Financial Holding turned to consolidated net losses valued at EGP 161.64 million, compared to net profits of EGP 54.58 million in 9M-21.

As for the standalone business, the company shifted to net losses worth EGP 222.96 million in 9M-22, versus net profits of EGP 49.49 million in the year-ago period.

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