{"id":662195,"date":"2025-03-12T00:00:00","date_gmt":"2025-03-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/12\/orascom-development-sees-revenues-rise-42-2-in-2024\/"},"modified":"2025-03-12T00:00:00","modified_gmt":"2025-03-12T00:00:00","slug":"orascom-development-sees-revenues-rise-42-2-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/12\/orascom-development-sees-revenues-rise-42-2-in-2024\/","title":{"rendered":"Orascom Development sees revenues rise 42.2% in 2024"},"content":{"rendered":"

Orascom D<\/strong>evelopment Egypt\u2019s (ODE) net income rose 10.5% y-o-y in 2024<\/strong>, coming in at EGP 3.4 bn, according to the company\u2019s latest earnings release (pdf)<\/a>. When excluding EGP 1.8 bn in FX losses that pulled down the company\u2019s bottom line, net income for the 12-month period increased 55.5% y-o-y to EGP 5.3 bn.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Revenues rose 42.2% y-o-y during the same period<\/strong>, clocking in at EGP 21.8 bn. The company\u2019s real estate revenues made up more than half of the overall figure, coming in at EGP 12.9 bn and marking a 28.5% y-o-y increase. International sales made up 41% of the year\u2019s real estate sales. Revenues from hotels \u2014 its second largest segment \u2014 rose 41.6% to EGP 4.3 bn. Driving the increase was a 317.5% y-o-y rise in revenue from its land segment to EGP 1.6 bn, as well as revenue from commercial assets rising 58.4% y-o-y to EGP 3.0 bn. <\/p>\n

Breaking down real estate revenues: <\/strong>O West made up the lion\u2019s share of the real estate developer\u2019s sales for the year, making up 39%. It was followed by El Gouna at 38% and Makadi Heights at 23%. \u201cWe have successfully increased our average selling prices per square meter across all destinations,\u201d the release read. <\/p>\n

On a quarterly basis<\/strong>, net income rose 11.6% y-o-y in 4Q 2024 to EGP 1.2 bn, which the company attributed to growth across all its segments and a EGP 370 mn land sale in El Gouna. Revenues increased 27.4% y-o-y to EGP 6.3 bn during the quarter, with revenues from real estate rising 3.3% y-o-y to EGP 3.8 bn and those from hotels rising 78.8% y-o-y to EGP 1.4 bn. In addition, revenues from commercial assets jumped 58.9% y-o-y to EGP 903.7 mn, and those from land sales reached EGP 312.1 mn, up from only EGP 3.1 mn in the same period last year.<\/p>\n

What they said:<\/strong> \u201cOur resilient and diversified business model has been crucial in mitigating the negative effects of inflation that have impacted numerous sectors. This accomplishment underscores our steadfast commitment to innovation and operational efficiency, which have proven essential in navigating the complexities of the market,\u201d the company said in the release.<\/p>\n","protected":false},"excerpt":{"rendered":"

When excluding FX losses, net income for the 12-month period increased 55.5% y-o-y<\/p>\n","protected":false},"author":1,"featured_media":662196,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[302,409,72,256],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-662195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-enterpriseam","tag-orascom-development-egypt","wpautop","entry"],"acf":{"mongo_id":"7df9096e-d1b1-4b98-90f2-0b78839a5411","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/885.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Orascom Development sees revenues rise 42.2% in 2024","related_issue":[662185],"teaser":"When excluding FX losses, net income for the 12-month period increased 55.5% y-o-y","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.cf583538-03a7-455f-a8d4-fa5a774b9ed1.mp3"},"yoast_head":"\nOrascom Development sees revenues rise 42.2% in 2024 - 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PLUS: CIB, ODE report 1Q23 earnings","author":"enterpriseam admin","date":"15 May 2023","format":false,"excerpt":"High oil prices fueled a 162% rise in revenues at the Egyptian Refining Company","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/778.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":551187,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/earnings-watch-telecom-egypt-orascom-financial-holding-b-investments-report-1q2022-results\/","url_meta":{"origin":662195,"position":1},"title":"Earnings watch: Telecom Egypt, Orascom Financial Holding, B Investments report 1Q2022 results","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"EARNINGS WATCH-Telecom Egypt\u2019s 1Q2022 net income declined 36% y-o-y to EGP 1.40 bn, according to the company\u2019s earnings release (pdf). The telecom company\u2019s normalized net income \u2014 which excludes Vodafone Egypt\u2019s one-offs, the effect of the rising FX rate, provisions, and impairments \u2014 came in at EGP 1.7 bn, staying\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":579693,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/","url_meta":{"origin":662195,"position":2},"title":"It\u2019s earnings season: Credit Agricole, ADIB, Telecom Egypt, Abu Qir, AMOC, TMG","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"EARNINGS WATCH-Credit Agricole Egypt\u2019s net income after tax rose 37.4% y-o-y in 9M 2022 to EGP 1.6 bn, according to its financial statement(pdf). The bank\u2019s net interest income rose 15% y-o-y to EGP 4.4 bn during the period.Abu Dhabi Islamic Bank Egypt\u2019s (ADIB) net income rose 49% to EGP 1.5\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545311,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/20\/orascom-developments-net-income-drops-52-9-y-o-y-in-4q2021\/","url_meta":{"origin":662195,"position":3},"title":"Orascom Development\u2019s net income drops 52.9% y-o-y in 4Q2021","author":"enterpriseam admin","date":"20 March 2022","format":false,"excerpt":"EARNINGS WATCH- Orascom Development Egypt\u2019s net income dropped 52.9% y-o-y in 4Q2021 to record EGP 100.70 mn, according to the company\u2019s earnings release (pdf). Revenues rose 25% y-o-y to record EGP 2.15 bn. Annually, the company recorded EGP 1.31 bn in net income in 2021, up 130% y-o-y, while revenues\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593017,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/14\/earnings-watch-orascom-development-egypt-gb-auto-credit-agricole-raya-holding-amoc\/","url_meta":{"origin":662195,"position":4},"title":"Earnings watch: Orascom Development Egypt, GB Auto, Credit Agricole, Raya Holding, AMOC,","author":"enterpriseam admin","date":"14 November 2019","format":false,"excerpt":"EARNINGS WATCH- Orascom Development Egypt (ODE) reported net profits of EGP 107.4 mn in 3Q2019, up from EGP 89.5 mn in 3Q2018. The company\u2019s revenues rose to EGP 1 bn from EGP 868.1 mn during the same quarter last year, according to the company\u2019s financial statements (pdf). In 9M2019, ODE\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546579,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-orascom-construction-mnhd-gb-auto\/","url_meta":{"origin":662195,"position":5},"title":"Earnings watch: Orascom Construction, MNHD, GB Auto","author":"enterpriseam admin","date":"22 May 2022","format":false,"excerpt":"Orascom Construction\u2019s (OC) net income slid 45% in 1Q 2022 due to deepening losses at Besix, according to its earnings release (pdf). The construction giant reported a USD 13.1 mn profit in the January-March quarter, down from USD 23.9 mn last year, as Belgium-based construction group\u2019s losses widened to USD\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/281.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/662195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=662195"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/662195\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/662185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/662196"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=662195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=662195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=662195"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=662195"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=662195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}