Orascom Development Egypt’s 1H 2024 results

Total revenues increased by 86.4% to EGP 6.0 billion

Press Release

PHOTO

Cairo – Our first half result of 2024 testifies to our adept navigation of a challenging macroeconomic landscape affecting all Egypt's business environments. Despite grappling with a non-cash foreign exchange loss of EGP 2.2 billion in 1H 2024, ODE's financial performance underscores our unwavering focus on consistently enhancing operational efficiencies. Our resilient and diversified business model has effectively tackled inflationary pressures, with significant contributions stemming from our deep-rooted commitment to innovation and operational efficiency in overcoming hurdles. The outcome of our bolstered operational capabilities is evident in the growth of revenues, adj. Ebitda and margins.

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