ODH: More sales, but net loss
Orascom Development Holding (ODH) increased its revenue by 22 percent year-on-year to around CHF 306 million in the 2015 financial year. However, ODH posted a net loss of CHF 19 million, which according to the company is mainly due to the increase in ODH's share of losses in Andermatt Swiss Alps (ASA) and Orascom Housing Communities (OHC).
Adjusted EBITDA rose by 228.5 percent to CHF 80.8 million, compared to CHF 24.6 million in the 2014 financial year, primarily due to the high margins in connection with the sub-development contracts for a plot of land in El Gouna, according to Orascom Development Holding AG (ODH).
In addition to the major project in Andermatt, ODH is currently also involved in various projects in Egypt, Oman and Montenegro. (ah)
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