ODE achieves 16.9% growth in sales in 1H 2022
Furthermore, total revenues reached EGP 3.8bn — up 27.6% y-o-y — compared to EGP 3.0bn in 1H 2021. Gross profit increased by 18% to EGP 1.3bn, compared to EGP 1.1bn.
Latest in Tag: ODE Highlight
Latest in Tag: ODE
ODE records EGP 4.7 billion of net real estate sales in 1H 2022
Despite various macro and geopolitical challenges around the globe, ODE’s operations continued to progress in 2Q 2022, boasting a robust quarter with strong demand in O West, complemented by solid sales momentum in El-Gouna.
ODE reports EGP 7.1bn of revenues in 2021
The company’s EBITDA reached EGP 2.5bn, an 82.0% increase vs. EGP 1.4bn in 2020. EBITDA also increased by 81.5% to EGP 2.3bn compared to EGP 1.3bn in FY 2020. Finance costs decreased by 16.9% to EGP 269.5 million in FY 2021 as we decided to pay back all leases in El Gouna and thus generated more savings. Net profits reached EGP 1.3bn in FY 2021 up 2.3x compared to EGP 571.3bn in FY 2020.
ODE reports revenues grow 61.5% to EGP 1.46bn in Q1 2021
Company reported strong performance for the quarter compared to same quarter of previous year
ODE signs $265m medium-term loan to refinance outstanding debt
In a press statement on Monday, ODE said that it intends to use the proceeds to refinance its outstanding balances of debt to relieve the company from upcoming debt commitments, worth up to $215m.
ODE reports 17.5% decrease in H1 revenues to EGP 1.9bn
Company’s sees decreased gross profit due to pandemic affecting business operations since late February
Mangroovy for Hotels, ODE sign EGP 104.8m El Gouna land sale agreement
The land plot will encompass different types of services to serve residences and guests, making it an integral part of the overall development that boasts a beachfront residence in El Gouna.
ODE appoints Omar El Hamamsy as Group CEO
El Hamamsy joins ODE from McKinsey & Company, where he is Senior Partner at their Middle East office, having previously been at the company’s Belgium office. In his 18 years at McKinsey, he has led many practices, including Travel and Transport.
ODE to launch 2 NIS international schools in O West
NIS Schools will apply blended learning system featuring online, traditional face-to-face learning
ODE records 10.5% revenues decline to EGP 903.8m in 1Q 2020
Group generated more savings in finance costs in 1Q 2020, with interest costs decreasing 33.1% to EGP 79.6m
ODE stock takes hit on tourism sector projects, due to COVID-19
We expect demand in second homes segment to suffer most due to global health pandemic, says Elsaadany
ODE’s Egypt hotels to re-open for business on 15 May
ODE said the gradual reopening plans will ensure all hotels in El Gouna will be open for business by 21 May, with its Taba Heights Hotels to also reopen on 21 May.
ODE records 38.8% revenue growth in FY19
Company achieves EGP 6.9bn net sales
ODE appoints interim successors to late CEO Khaled Bichara
“ODE will continue to execute its plans and will continue to deliver more value to all our shareholders,” added Zaghloul.
ODE plans to add new Casa Cook Hotel to its El Gouna portfolio
Dividends distribution not expected in 2019, but could be possible in 2020
ODE sells 51% stake in Oberoi Zahra Nile cruiser for $4m
According to the statement, the sale will result in cash proceeds of $2m which will be directed to finance the group’s expansion plans.