Cairo –  The consolidated net profits after tax of Orascom Development Egypt (ODE) hiked to EGP 1.90 billion in 2022 from EGP 1.31 billion in 2021, including non-controlling interest.

The revenues amounted to EGP 10.26 billion in 2022, an annual leap from EGP 7.05 billion, according to the income statements.

Total assets enlarged to EGP 28.26 billion during January-December 2022 from EGP 22.64 billion in 2021, whereas the basic earnings per share (EPS) grew to EGP 1.50 from EGP 1.09.

Standalone Financial Results

The company’s standalone net profits after tax climbed to EGP 757.23 million in 2022 from EGP 717.65 million a year earlier, while the basic EPS edged up to EGP 0.68 from EGP 0.65.

Non-consolidated revenues increased to EGP 3.83 billion last year from EGP 2.73 billion as of 31 December 2021, whereas the total assets widened to EGP 13.46 billion from EGP 10.53 billion.

Based on preliminary unaudited key performance indicators (KPIs), the EGX-listed firm registered a 20.70% year-on-year (YoY) surge in net sales to EGP 11.10 billion during the January-December 2022 period.

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