June 5, 2018 / 10:58 PM / 14 days ago

BRIEF-Orascom Development Holding reports qtrly revenues of CHF 74.1 mln

June 5 (Reuters) - Orascom Development Holding AG:

* EQS-ADHOC: ORASCOM DEVELOPMENT HOLDING AG:TURNAROUND STRATEGY BEARING ITS FRUITS WITH SIGNIFICANT INCREASE ON THE OPERATIONAL AND FINANCIAL LEVEL ACROSS ALL SEGMENTS. REVENUES GREW BY 41.1% TO CHF 74.1 MILLION, ADJUSTED EBITDA INCREASED BY 206.3% TO CHF 1

* NET REAL ESTATE SALES INCREASED 2.5 TIMES TO CHF 39.8 MILLION IN Q1 2018

* NET LOSSES WERE SIGNIFICANTLY REDUCED BY 59.2% TO REACH CHF 5.1 MILLION IN Q1 2018 VERSUS. CHF 12.5 MILLION IN Q1 2017

* REVENUES INCREASED BY A 41.1% Y-O-Y TO REACH CHF 74.1 MILLION IN Q1 2018 VERSUS. CHF 52.5 MILLION IN Q1 2017

* QTRLY ADJUSTED EBITDA INCREASED TO CHF 14.7 MILLION RECORDING A 206.3% GROWTH FROM CHF 4.8 MILLION IN Q1 2017

* ORASCOM DEVELOPMENT HOLDING - QTRLY HOTELS REVENUES INCREASED BY 30.5% TO CHF 40.2 MILLION AND GROSS OPERATING PROFITS (GOP) INCREASED BY 52.6% TO CHF 17.7 MILLION

* ORASCOM DEVELOPMENT - REMAIN ON TRACK WITH FINALIZING NECESSARY DOCUMENTATION FOR SALE OF EARLIER COMMUNICATED 3 HOTELS IN MAKADI FOR TOTAL EV OF CHF 49.0 MILLION Source text for Eikon: Further company coverage:

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