Orascom Development Egypt (ODE) posts a 45.6% YoY surge in total revenue, recording EGP 10.3 bn in 2022, Invest-Gate reports.
The company’s net profit soared 45.2% YoY to EGP 1.9 bn, while EBITDA jumped 57.3% YoY to EGP 3.9 bn.
Group Real Estate sales increased by 20.7% YoY to EGP 11.1 bn in 2022.
Meanwhile, hotel revenue surged 80.6% to EGP 1.6 bn last year, compared to the year-ago period.
The destination management revenue grew by 36% YoY to EGP 1.4 bn.
As for Q4, the company’s revenue rose 66.7% YoY to EGP 3.6 bn during the fourth quarter of 2022.
Furthermore, net profit skyrocketed 274.5% YoY to EGP 377.1 mn in Q4, while net real estate sales jumped 28.6% YoY to EGP 3.8 bn in the same period.