Orascom Development Holding AG

DGAP-Adhoc: Orascom Development Holding AG: 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 Holding AG  / Key word(s): Profit Warning/Profit Warning

19.03.2014 07:00

Release of an ad hoc announcement pursuant to Art. 53 KR
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Press Release

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
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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.


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Language:               English
Company:                Orascom Development Holding AG
                        Gotthardstraße 12
                        6460 Altdorf
                        Switzerland
Phone:                  +41 41 874 17 17
Fax:                    +41 41 874 17 07
E-mail:              ir@orascomdh.com
Internet:            www.orascomdh.com
ISIN:                   CH0038285679
Valor:                  A0NJ37
Listed:                 SIX

End of Announcement                             EQS Group News-Service

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