Earnings Report /
Egypt

Orascom Development Egypt: 2Q22 – A Solid Set of Results

  • 2Q22 sales reached EGP2.7 billion, up 39.4% y/y, bringing 1H22 sales to ORHD’s highest ever 1H sales of EGP4.7 billion

  • 1H22 hotel revenue reached EGP633.2 million, up 147.6% y/y, on track to reach our FY22 forecast of EGP1.2 billion

  • Net profit in 2Q22 reached EGP365.9 million, up 32.0% y/y and down 12.9% q/q

Mayar El Ashry
Mayar El Ashry

Vice President

Al Ahly Pharos Securities Brokerage
15 August 2022

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