Cairo – Mubasher: The consolidated net profits of Orascom Development Egypt (ODE) jumped by 130% to EGP 1.31 billion in 2021, compared to EGP 571.32 million in 2020, including minority shareholders' rights.
The company generated revenues of EGP 7.05 billion in 2021, up 41.4% from EGP 4.98 billion in the earlier year, according to a bourse filing on Sunday.
Meanwhile, the company registered the adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) of EGP 2.5 billion, 82% higher than EGP 1.4 billion in 2020.
As for the standalone businesses, the company's net profits increased to EGP 717.65 million last year from EGP 403.81 million in 2020.
It is noteworthy to mention that during the first nine months (9M) of 2021, the company's consolidated net profits hiked by 239.5% to EGP 1.21 billion, compared to EGP 357.39 million in the year-ago period.
