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Orascom Development Holding AG: erwartet für das Geschäftsjahr 2013 einen Reinverlust in Höhe von CHF 145-160 Millionen (2012: Verlust von CHF 97 Millionen) Mittwoch, 19. März 2014 - 07:04
Orascom Development erwartet für das Geschäftsjahr 2013 einen Reinverlust in Höhe von CHF 145-160 Millionen (2012: Verlust von CHF 97 Millionen) Für das Geschäftsjahr 2013 erwartet Orascom Development einen Umsatzrückgang von etwa 18-20% gegenüber der Vorjahresperiode. Des Weiteren geht Orascom Development basierend auf ersten Indikationen von einem Reinverlust in der Höhe von CHF 145-160 Millionen aus. Der Verlust ist hauptsächlich auf das anspruchsvolle Marktumfeld und die politische Lage im Kernmarkt Ägypten zurückzuführen. Die wesentlichen Treiber dieses Verlustes sind: gesunkene Umsätze, in geringerem Umfang kapitalisierte Finanzierungskosten, die Abwertung des ägyptischen Pfunds sowie Rückstellungen, Abschreibungen auf Beteiligungen und eine Neubewertung von Steuerabgrenzungspositionen. Altdorf/Kairo, 19. März 2014 - Basierend auf ersten Indikationen erwartet Orascom Development Holding AG (Orascom Development) für das Geschäftsjahr 2013 einen Umsatzrückgang von etwa 18-20% gegenüber der Vorjahresperiode. Der Rückgang ist hauptsächlich auf niedrigere Auslastungsraten der Hotels in Ägypten sowie ferner auf gesunkene Umsätze im Bereich Immobilien und Bau zurückzuführen. Darüber hinaus wurde das Gruppenergebnis durch hohe Fixkosten, aufgrund der gesunkenen Bauaktivität in geringerem Umfang kapitalisierte Finanzierungskosten sowie durch die Abwertung des ägyptischen Pfunds negativ beeinflusst. Zudem trugen Einmaleffekte wie Rückstellungen, Abschreibungen auf Beteiligungen und eine Neubewertung von Steuerabgrenzungspositionen wesentlich zu dem Verlust bei. Insgesamt geht Orascom Development von einem Reinverlust nach Minderheiten in der Höhe von CHF 145-160 Millionen aus, verglichen mit CHF 97 Millionen in der Vorjahresperiode. Wie bereits früher bekannt gegeben, werden die Resultate für das Geschäftsjahr 2013 am 15. April 2014 publiziert. Über die Gruppe Orascom Development ist ein führender Entwickler von integrierten Ortschaften/Städten, die Hotels, Privatvillen, Wohnungen, Freizeiteinrichtungen wie etwa Golfplätze und Jachthäfen aber auch unterstützende Infrastruktur umfassen. Das breit diversifizierte Portfolio von Orascom Development umfasst Destinationen in acht Ländern (Ägypten, Vereinigte Arabische Emirate, Jordanien, Oman, Schweiz, Marokko, Montenegro und Grossbritannien). Die Gruppe betreibt momentan acht Städte: El Gouna, Taba Heights, Haram City und Makadi in Ägypten, The Cove in den Vereinigten Arabischen Emiraten, Jebel Sifah und Salalah Beach in Oman sowie Andermatt in der Schweiz. Orascom Development verfügt über eine Doppelkotierung mit einer Primär-Kotierung im Hauptsegment an der SIX Swiss Exchange und einer Zweitkotierung an der EGX Egyptian Exchange. Kontakte Investor Relations Sara El-Gawahergy Director of Investor Relations Tel: +202 24618961 Email: ir@orascomdh.com Kontakt Media Relations media@orascomdh.com Disclaimer & Cautionary Statement The information contained in this e-mail, its attachment and in any link to our website indicated herein is not for use within any country or jurisdiction or by any persons where such use would constitute a violation of law. If this applies to you, you are not authorized to access or use any such information. Certain statements in this e-mail and the attached news release may be forward-looking statements, including, but not limited to, statements that are predications of or indicate future events, trends, 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. Im Zweifelsfalle gilt die englische Originalversion.
Orascom Development expects to report a net loss in the range of CHF 145-160 million for the year 2013 (2012: CHF 97 million net loss) Orascom Development expects to report an 18-20% decrease in consolidated revenues for the year 2013 compared to the same period of last year. Based on first indications Orascom Development further expects a net loss in the range of CHF 145-160 million mainly due to the challenging market environment caused by the political instability in Egypt. The main contributors to the bottom-line loss are: reduced revenues, lower capitalization of financing costs, Egyptian Pound devaluation in addition to provisions, impairments of investments and reassessment of the recoverability of deferred tax assets Altdorf/Cairo, 19 March 2013 - First indications show that during 2013 the consolidated revenue of Orascom Development Holding's AG (Orascom Development) decreased in the range of 18-20% compared to the same period of last year. The decrease is mainly resulting from lower hotel operations in Egypt and partly due to lower real estate and construction revenues. In addition to the reduced turnover, the group's performance was impacted by high overhead costs, lower capitalization of financing costs resulting from reduced construction activities and the devaluation of the Egyptian Pound. Furthermore, one-off items including provisions, impairment of investments and reassessment of the recoverability of deferred tax assets have also significantly contributed to the net loss. In sum, Orascom Development expects a net loss after minorities in the range of CHF 145-160 million compared to a CHF 97 million net loss in the same period of last year. The full set of the year end results for FY 2013 will be published on 15 April 2014 as earlier announced. 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 primary focus on touristic destinations and budget housing. The Group currently operates eight destinations; four in Egypt El Gouna, Taba Heights, Haram City 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. Investor Relations Contacts Sara El-Gawahergy Investor Relations Director Tel: +202 24618961 Email: ir@orascomdh.com Contact Media Relations media@orascomdh.com Disclaimer & Cautionary Statement The information contained in this e-mail, its attachment and in any link to our website indicated herein is not for use within any country or jurisdiction or by any persons where such use would constitute a violation of law. If this applies to you, you are not authorized to access or use any such information. Certain statements in this e-mail and the attached news release may be forward-looking statements, including, but not limited to, statements that are predications of or indicate future events, trends, 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.