April 27, 2020 / 5:09 AM / a month ago

BRIEF-Orascom Development Holding FY Net Losses Down 31.8% To CHF 31.3 Million

April 27 (Reuters) - Orascom Development Holding AG :

* CLOSES THE YEAR ON A SOLID OPERATIONAL AND FINANCIAL STANCE, ACHIEVING ALL FY 2019 TARGETS, AND RECORDING CHF 483.9 MILLION OF NET REAL ESTATE SALES.

* FY NET LOSSES DECREASED BY 31.8% TO CHF 31.3 MILLION VERSUS. A LOSS OF CHF 45.9 MILLION IN FY 2018 (RESTATED).

* FY ADJUSTED. EBITDA REACHED CHF 74.3 MILLION, A 5.7% INCREASE FROM CHF 70.3 MILLION IN FY 2018.

* FY TOTAL REVENUES SURGED BY 33.2% TO CHF 453.3 MILLION VERSUS. CHF 340.3 MILLION IN FY 2018.

* IMPOSSIBLE TO PROVIDE AN ACCURATE OUTLOOK ON ITS RAMIFICATIONS ON 2020 OPERATIONAL AND FINANCIAL RESULTS

* WE INTEND TO PROVIDE AN UPDATE OF EVOLVING SITUATION DURING ALL OUR QUARTERLY RESULTS CALLS AND MARKET COMMUNICATIONS AS NEEDED. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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