Orascom Development Holding AG: records 33.3% increase in revenues and 219.3% increase in adjusted EBITDA over the same period last year Donnerstag, 19. November 2015 - 07:11

Orascom Development Holding AG / Key word(s): 9-month figures/9-month
figures
Orascom Development Holding AG: records 33.3% increase in revenues and
219.3% increase in adjusted EBITDA over the same period last year

19.11.2015 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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ODH ("Orascom Development Holding") (SIX ODHN.SW), (EGX ODHN.EY) has
released its consolidated financial results for its Nine Months ended 30th
of September 2015

Orascom Development Holding (ODH) records 33.3% increase in revenues and
219.3% increase in adjusted EBITDA over the same period last year.

33.3% increase in revenues to reach CHF 246.0 compared to CHF 184.6
million in 9M 2014, with Adjusted EBITDA reaching CHF 79.5 million, a
219.3% increase over CHF 24.9 million in 9M 2014
Hotels record a noticeable increase of 52.8% in Adjusted EBITDA to reach
CHF 13.6 million compared to CHF 8.9 million in 9M 2014
Signed a new land sub development agreement in Egypt for CHF 19.1 million 
Total Real Estate sales for the 9M 2015 increased by 51.5% to CHF 83.3
million versus CHF 55.0 million in 9M 2014

Altdorf, 19 November 2015 - Orascom Development Holding (ODH) revenues
increased by 33.3% to CHF 246.0 million (9M 2014: CHF 184.6 million),
resulting from the enhanced performance from the hotel segment, real estate
unit deliveries in Egypt and Montenegro, the recognition of the second and
third parcels of land from the first sub-development agreement in EL Gouna
with El Sewedy and the new sub-development concluded with Hassan Allam in
El Gouna for CHF 19.1 million in 3Q 2015.

The net profit attributable to the shareholders of the company reached CHF
3.9 million, hindered by increased losses from the share of associates,
mainly Andermatt Swiss Alpes and Orascom Housing Communities. This compares
to CHF 36.4 million in 9M 2014, which included the one-off gains related to
the settlement of the Falcon agreement.

Adjusted EBITDA increased by 219.3% to reach CHF 79.5 million compared to
24.9 million in 9M 2014.

Hotels record a noticeable increase in Adjusted EBITDA reaching CHF 13.6
million (9M 2014: CHF 8.9 million) despite ongoing travel bans for Taba.

Continued hotel refurbishments, coupled with the reviewed contracting
strategy introduced in 2014 and the opening of new food and beverage
outlets across El Gouna  and Makadi hotels led to a 21% increase in TRevPAR
values in 9M 2015 over 9M 2014, whereby Occupancy reached 54% vs, 49% in 9M
2014.

Makadi hotels sustained their positive performance, recording a 106% growth
in gross operating profits (GOP) in 3Q 2015 over 3Q 2014. This positive
performance was driven by OHM taking over the hotels' management in
February 2015. The hotels achieved a GOP of CHF 2.5 million, representing a
139% increase in 9M 2015 vs. 9M 2014.

Oman continues to witness a notable improvement whereby GOP grew, reaching
CHF 2.6 million in 9M 2015 versus a loss of CHF 0.08 million in 9M 2014.

However, the segment result is still negatively affected by the ongoing
bans in Taba Heights along with the increase of service charge and utility
tariffs imposed by the Government. Nevertheless, we are continuing with our
cost cutting measures. In Taba Heights, we have downsized operations,
shutting down 5 hotels and are only keeping the Sofitel hotel open (442
rooms). In the 9M 2015, GOP losses generated from Taba Heights hotels alone
amounted to CHF 3.4 million.  The Cove Rotana continues to suffer from the
effect of the Russian ruble devaluation. However, we increased our
marketing efforts to attract more of the local and the German speaking
markets to compensate for the lost Russian business. We have also taken
some active measures to increase the efficiency of the segment by
converting 79 rooms of the Ocean view hotel in El Gouna into residential
units to be sold. By the end of the period, ODH operated a total of 7,541
hotel rooms.

Real Estate sales continue to improve recording an increase of 51.5% over
the same period last year to reach CHF 83.3 million (9M 2014: CHF 55.0
million)

In Egypt, we continued to build on the success of the earlier launched
Joubal projects in El Gouna and were able to expand on the existing brand
and launch new phases for a total inventory of USD 50 million.

We are also accelerating our construction activities across all projects.
Construction progress has reached 50% for Joubal, which was launched in
November 2014. Delivery is expected to occur 6 months ahead of schedule.
This will allow for an earlier recognition of revenues and earlier cash
collection of the 10% client delivery payment.

We are working on introducing new products in Makadi, including single
family homes that haven't been introduced so far. In parallel, we are also
speeding up the construction activity in the destination starting with the
club house facility and we are planning to deliver two apartments buildings
in 2017.

In Oman, sales are starting to pick up amid advanced construction
progresses of the first 9 holes of the Sifah's golf course. We are also
accelerating the real estate unit deliveries and working on a new marketing
campaign for Salalah and Sifah.

In Montenegro, sales have continued the positive trend following the
official launch party of the destination in August. Clients used their
homes for the first summer this year and we were able to deliver 11 units
during the last quarter.

Real Estate segment revenue reached CHF 55.4 million vs. CHF 60.9 million
in 9M 2014. Total deferred revenue from real estate that is yet to be
recognized until 2019 increased by 13.2% and reached CHF 143.9 million in
9M 2015 versus CHF 127.1 million in 9M 2014.

Outlook for FY 2015
Land
We are continuing with our land bank monetization strategy bringing in
potential investors to invest in value adding projects in our destinations.

Real Estate
We are planning to introduce a new rental management program with the new
Water Side Condos project, which is planned to be launched in El Gouna
during 4Q 2015. The development will include a sellable inventory of USD 30
million. We are also progressing with the construction activity that
started in the Makadi and Fayoum destinations. In Montenegro, we have
started the construction of the new apartment buildings comprising 48
apartments and we are planning to partially open the marina in the summer
of 2017. In Oman, we are progressing with the launch of phase 1 of the
Sifah Golf course, expediting unit deliveries and revisiting the master
plans for Salalah and Sifah to optimize more land use.

Hotels
We are on track with the construction of the Ancient Sands hotel in El
Gouna, the Byoum hotel in El Fayoum, the Al Fanar Hotel in Oman and the
Cove Extension in UAE. All hotels are planned to open by 1Q 2016. The
extent of the impact expected on our hotels operations post the recent
events in Sharm El Sheikh is still unclear. Although the Group's portfolio
does not include hotels in Sharm El Sheikh, yet, the Russian market
represented 37% of Makadi's guests in 1H 2015. Accordingly, we are planning
to compensate the lost business from other source markets and we will
continue to cut more on costs in Taba until the situation returns back to
normal.

Presentation
The associated financial statements and presentation can be found on
Orascom Developments' website www.orascomdh.com under the Investor
Relations section.

Telephone conference today at 2:00 pm CET  
A telephone conference for analysts and investors will be held in English
today at 2:00 pm CET. CEO Samih O. Sawiris, CFO Eskandar Tooma and Chief
Hotel Officer Abdelhamid Abouyoussef will present the 9M 2015 results and
will be available to answer questions. A registration is not required.

Dial-in details are as follows: 
* Password:         93517883
*  International:    +44 (0)207 192 8000
*  Switzerland Toll Free: 0800 920 016
*  Egypt Toll Free: 0800 000 0798
*  UK Toll Free: 0800 376 7922
*  US Toll Free: 1866 966 1396

A replay of the conference call will be available for one week with the
following dial in details:
* Access Code:   93517883
* International Replay #:  +44 1452 550 000  
* UK Local Call Replay #:  08717 000 145
* USA Toll Free Replay#:  1866 247 42 22 

About Orascom Development Holding AG 
Orascom Development is a leading developer of fully integrated destinations
that include hotels, private villas and apartments, leisure facilities such
as golf courses, marinas and supporting infrastructure. Orascom
Development's diversified portfolio of destinations is spread over eight
jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro
and United Kingdom), with a primary focus on touristic destinations. The
Group currently operates seven destinations; three in Egypt El Gouna, Taba
Heights and Makadi, The Cove in United Arab Emirates, Jebel Sifah and
Salalah Beach in Oman and Andermatt in Switzerland. Orascom Development has
a dual listing, with a primary listing on the SIX Swiss Exchange and a
secondary listing on the EGX Egyptian Exchange

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plans or objectives. Forward-looking statements include statements
regarding our targeted profit improvement, return on equity targets,
expense reductions, pricing conditions, dividend policy and underwriting
claims improvements. Undue reliance should not be placed on such statements
because, by their nature, they are subject to known and unknown risks and
uncertainties and can be affected by other factors that could cause actual
results and Orascom Development Holding AG's plans and objectives to differ
materially from those expressed or implied in the forward looking
statements (or from past results). Factors such as (i) general economic
conditions and competitive factors, particularly in our key markets; (ii)
performance of financial markets; (iii) levels of interest rates and
currency exchange rates; and (vii) changes in laws and regulations and in
the policies of regulators may have a direct bearing on Orascom Development
Holding AG's results of operations and on whether Orascom Development
Holding AG will achieve its targets. Orascom Development Holding AG
undertakes no obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information, future
events or circumstances or otherwise. It should further be noted, that past
performance is not a guide to future performance. Please also note that
interim results are not necessarily indicative of the full-year results.
Persons requiring advice should consult an independent adviser.




Contact:
Contact Investor Relations 
Sara El Gawahergy  +201002185651
ir@orascomdh.com

Contact Media Relations
media@orascomdh.com