Orascom Investment records loss of LE17.89M in 9 months

CAIRO –  22 November 2020: Orascom Investment Holding Company (OIH) recorded loss of LE17.89 million during the first nine months of 2020, compared to loss of LE 92.4 million including minority rights during the same period of 2019, with a decrease of 80.6 percent.

The company’s indicators showed that the operating profits hit LE 729.28 billion during the 2020 period, compared to LE 788.65 billion during the compared period of 2019. 

As per standalone results, Orascom turned into profitability by LE 47 million in the January-September of 2020, compared to losses of LE 295.19 million during the same period of 2019. 

Meanwhile, it turned into loss during the third quarter of 2020, recording LE 19.6 million, compared to LE 61.15 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.

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.