April 5, 2019 / 5:23 AM / 2 months ago

BRIEF-Orascom Development Holding FY Net Losses Of CHF 37.3 Mln

April 5 (Reuters) - ORASCOM DEVELOPMENT HOLDING AG:

* NET LOSSES DECREASED BY 9.2% TO CHF 37.3 MILLION IN FY 2018 DESPITE ONE-OFF HISTORICAL LEGACY ITEMS OF CHF 16.5 MILLION

* BREAKS ITS NET REAL ESTATE SALES RECORD TO CHF 200.6 MILLION, INCREASES REVENUES BY 39.2% TO CHF 340.3 MILLION AND MORE THAN DOUBLES ITS ADJUSTED. EBITDA TO CHF 70.2 MILLION.

* RECORD NET REAL ESTATE SALES OF CHF 200.6 MILLION IN FY 2018 (EXCLUDING O WEST) VERSUS. CHF 126.2 MILLION IN FY 2017

* ADJUSTED. EBITDA MORE THAN DOUBLED REACHING CHF 70.2 MILLION IN FY 2018 CORRESPONDING TO OPERATIONAL MARGIN OF 20.6%

* OUTLOOK 2019: TARGETS TOPLINE REVENUES OF CHF 400 MILLION AND AN ADJUSTED EBITDA IN RANGE OF CHF 74 MILLION - CHF 77 MILLION

* TARGETED 2019 REVENUES REPRESENT A 25% GROWTH FROM CHF 319 MILLION IN FY 2018

* TARGETED 2019 ADJUSTED. EBITDA REPRESENTS 19%-24% GROWTH FROM CHF 62 MILLION IN FY 2018 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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