Orascom Development turns profitable in Q1 2025
Updated 5/14/2025 9:13:00 AM
Arab Finance: Orascom Development Egypt has generated consolidated net profits after tax attributable to the parent company amounting to EGP 2.044 billion during the first quarter (Q1) of this year, versus net losses worth EGP 1.181 billion in Q1 2024, as per the firm’s financial statements.
Revenues jumped to EGP 6.441 billion during the January-March period of 2025, up from EGP 4.175 billion in the same period a year earlier.
On the standalone business front, the firm also garnered profits totaling EGP 2.204 billion in net profits after tax, while it incurred EGP 1.550 billion in net losses after tax in the first three months of 2024.
ODE, the largest subsidiary of Orascom Development Holding (ODH), is a developer of resort towns, residential units, hotels, and recreational facilities such as golf courses, town centers, and marinas, in addition to supporting infrastructures, such as hospitals, schools, and utilities.
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