Orascom Investment turns into profitability in Q1 of 2020

CAIRO –  14 July 2020: Orascom Investment Holding Company (OIH) turned into profitability during the first quarter (Q1) of 2020 by LE 51.63 million, from losses of LE 78.86 million including minority rights during the same period of 2019. 

The company’s indicators showed that the operating profits hit LE 272.17 billion during the 2020period, compared to LE 322.27 billion during the compared period of 2019. 

As per standalone results, Orascom turned into profitability by LE 45.27 million in Q1 of 2020, compared to losses of LE 129.57 million during the same quarter of 2019. 

The company turned into loss during 2019 by LE 425.22 million, from profits of LE 865.59 million including minority rights during the same period of 2018.

The company recorded a consolidated loss during the first half of 2019 at LE 153.4 million, compared to loss of LE 141.2 million during the same half of 2018. 

OIH’s current capital is worth LE 2.2 billion, distributed over 5.24 billion shares. Orascom Investment Holding works in the fields of GSM, media, cables and mobile communications in Egypt, North Korea and Lebanon.