View
6
Download
0
Category
Preview:
Citation preview
September 2016
Agenda
ODH : Leading Developer of Fully Integrated Towns
Projects Overview
Appendix
Operational, Financial Summary and Outlook
Orascom Development Holding AG Today
One of The Largest LandBanks100.2 million sqm, out of which 68.0million sqm is still undeveloped
3 to 5Star HotelsTo suit differentstandards
Continuous Progress on Strategy ExecutionAchieved all communicated targets of 2015
39AwardsDuring 2015 for ourhotels
The Only Leading Developer of FullyIntegrated TownsIncluding Real Estate, Hotels. activities, marinasLeisure, golf courses, hospitals , schools & allsupporting infrastructure
Dual listing on SIX and EGXwith 40,409,926 outstanding shares
Approx. 8,073 Employees As of June 30th, 2016
Spearheaded by a seasoned Executive Management Teamwith unparalleled expertise in the travel, tourism and real estate sector level
MORE THAN
Over 25YEARS
DEVELOPMENT EXPERIENCE
One of The Largest HotelsPortfolio34 hotels with 7,915 rooms
Loyal ShareholderBaseBeen with the company for over 7 years
59%Of our hotels in Egypt are certified withGreen Star
8 Operating DestinationsEl Gouna, Taba Heights, Makadi, &Haram City (Egypt), Jebel Sifah & SalahBeach (Oman), The Cove (UAE), andAndermatt (Switzerland)Other destinations in different stages ofdevelopment
Real Estate Sales overCHF 2.0 bnSince 1997
ODH is a Pioneer Developer of Self-Sufficient Resort Towns
Company Overview
Organizational Structure
Shareholding Structure 1
Key Financial Indicators (CHF mn)
RevenueAdj.
EBITDA
Key Projects
Egypt Oman UAE Montenegro
Total Land Bank
Other Projects
Number of Hotels
Number of Rooms
49.1 mn sqm
28 Hotels
6,702 Rooms
20.8 mn sqm
4 Hotels
767Rooms
0.3 mnsqm
1 Hotel
346Rooms
6.9 mnsqm
-
-
23.1 mn sqm
1 Hotel
100Rooms
Total
100.2 mnsqm
34 Hotels2
7,915 Rooms
Orascom Development Holding (“ODH” or the “Company”) is an integrated developer of
resort towns, involving the development of residential units, hotels, and recreational facilities
such as golf courses, town centers, and marinas, in addition to supporting infrastructure, such
as hospitals, schools, and utilities.
Boasting a land bank of 100.2 mn sqm and a comprehensive hospitality portfolio of 7,915
rooms, the Company’s diversified portfolio of destinations is spread over 7 jurisdictions
including Egypt, Oman, Morocco, Montenegro, Switzerland, UK, and UAE.
ODH is listed on the SIX Swiss Exchange (market cap CHF 301.9 mn1), in addition to an EDR
program on the Egyptian Stock Exchange (market cap CHF 75.1 mn1)
1 As of June 30, 2016.
2 Includes Chedi Hotel in Andermatt with 100 rooms.
254 272 221 251 306109
2011 2012 2013 2014 2015 1H2016
43
10-4
25
81
8
2011 2012 2013 2014 2015 1H2016
67.8%4.9%
27.3%
Samih Sawiris and Trustees
OS Holding
Free Float
Unique, Vertically Integrated, Business Model…
Acquisitionphase
Development Phase Operational Phase
Init
ial d
esti
nat
ion
co
nce
pt
Det
aile
d d
esti
nat
ion
co
nce
pt
Mar
keti
ng
co
nce
pt
and
sal
es
stra
teg
y
Pro
du
ct s
ign
-off
s
Sta
rt o
f sa
les
Sta
rt o
f co
nst
ruct
ion
Inte
rnal
/ O
per
ato
r h
and
ove
r
Bu
yer
han
d o
ver
/ op
enin
g
Sta
rt o
f o
per
atio
n
Per
iod
ic a
sses
smen
t o
f p
erfo
rman
ce a
nd
ser
vice
q
ual
ity
New destination
identification acquisition &
initial concept
Land Bank Value Creation
Real Estate
Hotel Development
Destination Development
Project Management
Planning & Design
RE Owner Services
Hotel Operations
Destination Operations
Operations Management
Property & Facility Management
Construction
Business Segments - Overview
Andermatt (Switzerland)
OHC (Budget Housing)
Tamweel; Financial Services
Company
Master Development (ODM Egypt)
820 retail outlets & 87
restaurants/bars
5 schools & universities
2 hospitals & 7 marinas,
4 golf courses
1,397 employees 3
Destination Management
Public services &infrastructure
maintaenance that includes:
Water Services
Sewage treatments
Electricty
1,731 employees
Hotels
33 Hotels , total of 7,815
rooms1
23 self managed, 10 under-
management
Orascom Hotels Management
(OHM) manages company’s
hotel inventory
4,354 employees
Real Estate & Construction
Land bank acquired at nominal
costs
Sale of middle-to-upper scale
apartments and villas to private
clients
In-house sales force as well as
international distribution
channels
Off-plan sales with customer
prepayments
Sales of over CHF 2.09 Bn 2
591 employees
Land Sales & Other Investments
1 As of June 30, 20162 From 1997-1H 2016 (gross number)3 Including all company support funcitions in Egypt, Oman, Morocco and Montenegro
Revenues 1H 2016CHF 7.4 mn
Revenues 1H 2016 CHF 21.3 mn• Land Sales: CHF 4.6 mn• Tamweel: CHF 11.3 mn• Others: CHF 5.4 mn
Revenues 1H 2016CHF 32.1 mn
Revenues 1H 2016CHF 48.6 mn
El Gouna - Egypt
Agenda
ODH: Leading Developer of Fully Integrated Towns
Projects Overview
Appendix
Operational, Financial Summary and Outlook
53
54
52 52 49 4851
5947
48 5339
56%61%
54% 59%68%
51%
0%
10%
20%
30%
40%
50%
60%
70%
80%
0
20
40
60
80
2011 2012 2013 2014 2015 1H 2016
ARR TRevPar Occ. Rate
El Gouna - World Class Destination on the Egyptian Red Sea Coast
El GounaKey Facts
Visitors Breakdown by Nationality as of 1H 2016
El Gouna Draws Most of its Clientele from Europe...
Total land area : 36.92 million sqm , Developed: 14.44 million sqm, (39.1% developed)
Number of hotels and rooms: 17 hotels with 2,683 rooms ( five 5 *s , nine 4 *s and three 3*s)
A private , self-sufficient town built on 10 km of the Red Sea coastline and located north of Hurghada, 35kmfrom the Hurghada International Airport
The town offers a range of facilities such as a hospital, two 18-hole championship golf courses, three marinas,four schools, a library, and two universities branches
Hotel KPIs, CHF
Real Estate KPIs
24.8 19.434.9
48.7
82.957.4
2.8 2.3 2.5 2.52.5
2.9
0.0
1.0
2.0
3.0
4.0
0
20
40
60
80
100
2011 2012 2013 2014 2015 1H 2016
Value of Contracted Units, CHFmnAverage Price/sqm
No of Units, CHF 000’s
61 82 12147 163
4%
2%
6%4%
42%
32%
10%
Netherland
Swizerland
Belgium
UK
Germany
Egypt
Others102
Taba Heights – Sinai’s Premium Destination
Taba Heights
Key Facts
Total land area : 4.27 million sqm, Developed: 2.56 million sqm, (60% developed)
Number of hotels and rooms: 6 hotels; 2,365 rooms (five 5* s and one 4 *s)
Taba Heights is situated between the mountain ranges of the Sinai Peninsula only 25 km away from TabaInternational Airport
The town offers a marina and a golf course alongside a wide range of facilities such as a medical center, childdaycare services, a school, and a vibrant up-town center
Hotel KPIs, CHF
50
53
44
28
43
21
52 48
37
18
1814
51%44%
41%
29%
20% 21%
0%
10%
20%
30%
40%
50%
60%
0
10
20
30
40
50
60
2011 2012 2013 2014 2015 1H 2016
ARR TRevPar Occ. Rate
Visitors Breakdown by Nationality as of 1H 2016
42%
40%
9%
3% 6%Jordan
Egypt
Israel
Ukraine
Others
96
Makadi - The First Gated Community In The Heart Of Hurghada
Makadi Key Facts
Total land area : 3.39 million sqm, Developed: 0.47 million sqm , (13.86% developed)
Number of hotels and rooms: One 4* hotel with 283 rooms + two 4 * & 5 * Azur Hotels in Makadi with a totalof 830 rooms (Royal Azur, a 5 star Hotel (491 rooms) & Club Azur, a 4 star Hotel (339 rooms)
Makadi is the first gated community in the Hurghada region, only 30 km away from Hurghada InternationalAirport. The town resort features residential units and hotels, along with spacious commercial area, amedical center, among other services
34 3040 33 32 3636 40 38 39 41
26
55% 63%51%
61% 64%
33%
0%
10%
20%
30%
40%
50%
60%
70%
0
10
20
30
40
50
2011 2012 2013 2014 2015 1H 2016
ARR TRevPar Occ. Rate
Hotel KPIs, CHF
3.92.3 2.2
3.0
1.0 0.4
591621
595 599640
545
450
500
550
600
650
0
1
2
3
4
5
2011 2012 2013 2014 2015 1H 2016
Value of Contracted Units, CHFmn
Average Price/sqm No of units
1,752 5254 57 10
Real Estate KPIs 52%
22%
7%
2%
2%
2%2%
11%Germany
Egypt
Ukraine
Belgium
UK
Belarus
Sweden
Others
Visitors Breakdown by Nationality as of 1H 2016
Byoum – The Heart of Fayoum, On Lake Qarun
ByoumKey Facts
Total land area : 1.08 million sqm, Developed: 0.32 million sqm , (29.6% developed)
Number of hotels and rooms: One 4* hotel with 62 rooms (20 hotel rooms and & 42 hotelapartments, expected to be launched in Q1 2016
located 100 km southwest of Cairo in an ideal location overlooking the spiritual lake of Qarun. Plansare set to develop two luxury residential communities
Sales started in 2008, to date we have sold 116 units with a total value of EGP 135 mn (USD 15.2 mn)
Total remaining inventory is EGP 310 mn (USD 40.10 mn)
Finalizing the construction of Byoum Hotel, to belaunched during September 1st, 2016.
Planning to launch new phases with a total inventory ofEGP 30.0 mn (USD 3.4 mn) during Q4 2016.
Reviving the Destination
1. Byoum Main Gate 5. Beach Club
2. 4 Star Hotel 6. Commercial Area
3. Hunting Lodge
4. Pier
Master Plan
The Cove –5-Star Beachfront Getaway for Leisure and Relaxation
The CoveKey Facts
Visitor's Breakdown by Nationality as of 1H 2016
Total land area : 0.3 million sqm
The resort encompasses: A 346 room five star hotel managed by Rotana, an acclaimed operator in MENA andworldwide 188 villas, an employee residential compound comprised of 80 apartments; A commercial center;and a ~12,225 sqm vacant land plot, which is well positioned for various development options.
ODH’s Management intends on converting the employee housing compound into an apartment hotel, whichwill serve as an extension, adding 145 rooms to the hotel’s capacity.
Hotel KPIs, CHF
139 161 160 161 165 163182215 217 203 196 203
77% 81% 81% 75%70% 74%
60%
70%
80%
90%
0
50
100
150
200
2011 2012 2013 2014 2015 1H 2016
ARR TRevPar Occ. Rate
26%
53%
2%
2%17%
UAE
Germany
Switzerland
Austria
Others
106 111 116 119144 152
52 7682 81 100 109
25%
33%
27%31%
33% 33%
0%
5%
10%
15%
20%
25%
30%
35%
0
50
100
150
200
2011 2012 2013 2014 2015 1H 2016
ARR TRevPar Occ. Rate
Jebel Sifah- A Tranquil Haven
Jebel Sifah
Key Facts
Visitors Breakdown by Nationality as of 1H 2016
Total land area: 6.2 million sqm , Developed: 0.2 million sqm, (3.2% developed) 6 hotels (1,062 rooms), of which the Sifawy Boutique Hotel is already operational, with a capacity of 67 rooms.
Four Seasons , Banyan Tree Hotels & Resorts & Anatara, among other players, are expected to operate hotelsin Jebel Sifah.
Jebel Sifah is a charming resort town located 30 km from the Omani Capital’s city center. The town will encompass 950 residential units, including already 18 completed apt blocks, Inland marina, a
18-hole championship golf courses designed by Peter Harradine, commercial centers.
Hotel KPIs, CHF
Real Estate KPIs
7.410.5
5.7 3.6 4.3 3.7
2.5 2.52.4
2.9
2.4
3.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
0
5
10
15
2011 2012 2013 2014 2015 1H 2016Value of Contracted Units, CHFmnAverage Price/sqm
No of Units
, CHF 000’s
12 5 515 15 2
67%8%
6%
5%
5% 9% Oman
UK
Germany
Switzerland
France
Others
128 113 141 110 7974
95 97102 94
39% 47% 33%54% 67%
0%
10%
20%
30%
40%
50%
60%
70%
80%
0
100
200
2012 2013 2014 2015 1H 2016
ARR TRevPar Occ. Rate
Salalah Beach – A Self-sufficient Tropical Oasis on the Arabian Sea
Salalah Beach
Key Facts
Total land area: 13.6 million sqm , Developed: 1.5 million sqm, (11.0% developed)
7 hotels (1,800 rooms), of which the Juweira Boutique , Al Fanar Hotel and Rotana are already operational,with 82 rooms, 218 rooms and 400 rooms, respectively. Mövenpick and Club Med are expected to opentheir doors, each operating ~395 rooms
The town will encompass, residential units, 200 berth marina; the Marina Town where 45 shops arealready operating, commercial centers and a water park
The destination is located only 25 km away from Salalah Airport and approximately 90 minutes flight frommost GCC countries
Visitors Break Down by Nationality as of 1H 2016Hotel KPIs, CHF
Real Estate KPIs
5.9 3.7 3.7
10.3
4.1 1.3
2.2 2.02.4
4.0 3.7
3.4
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
0
5
10
15
2011 2012 2013 2014 2015 1H 2016Value of Contracted Units, CHFmn
Average Price/sqm No of Units, CHF 000’s
36%
19%
20%
13%
5%3% 2% 2% Germany
Oman
Others
Italy
United ArabEmiratesSaudi Arabia
9 41 15820 1
15.4 19.1 22.011.1 5.7
4.14.3 4.4
4.8 5.5
0.0
2.0
4.0
6.0
0
10
20
30
2012 2013 2014 2015 1H 2016
Value of Contracted Units, CHFmn
Average Price/sqm,CHF000's
414843 24 16
Lustica Bay – Montenegro
Lustica Bay Key Facts
Located in Montenegro on the Adriatic Sea, with a land bank of 6.9 mn sqm, Developed: 0.12 million sqm, (1.7%developed)
The land is held on a leasehold agreement for 99 years starting 2009. The company starting 2014 will pay an annualrent fee of EUR 1.0 mn per year for a period of 10 years
The project is planned to include 1,820 residential units, 7 hotels with a total capacity of 1,200 rooms and two world-class marinas with an operating capacity of 226 berths, 18-hole championship golf Course (Gary Player SignatureCourse)
Construction started in Sep 2013. In less than two years, Lustica is now an emerging new town with residentsmoving in their homes in the summer of 2015
Real Estate KPIs
No of Units
First two buildings clusters (10 buildings comprising70 apartments) have been fully finished anddelivered in August, with residents moving in thesummer of 2015.
We are progressing ahead of schedule with theconstruction of the new F and G building comprising88 apartments expected to be finalized by early2017.
80% of the main marina works have beencompleted, with an expected operating date ofSummer 2017.
Excavation works for the Golf Course is completedand the construction permit has been obtained (thefirst Golf Course permit in Montenegro).
Planning to start the construction in 2016 of the firsthotel in Lustica Bay headed by luxury hotel brandThe Chedi Group.
Emerging New Town
Chbika
Located South of Agadir on the Atlantic Ocean, Chbika has a total land bank of 15mn sqm split into two phases withland areas of 5.0 mn sqm and 10.0 mn sqm, respectively.
Chbika’s plan encompasses mix of villas apartments and mansions, in addition to 3 hotels with a total capacity of 1,000rooms.
Ongoing negotiations for raising the needed funds to develop the 3 hotels in addition to finishing the marina and thefirst 9 holes of the golf course.
Overview
Other Projects
Overview
Eco-Bos2
Located in the UK, Eco-Bos is one of four projects to receive the ‘Eco-town’ accreditation.
The project, comprising seven land parcels, includes the redevelopment of 700 hectares of former industrial land,developing 5,500 new homes and creating over 5,000 jobs.
Designed to deal with dispersed rural travel and deliver a highly sustainable transportation network.
Low Carbon Communities, Building energy and resource efficient homes with computer-based technologies toefficiently manage energy and water resources.
Andermatt
Overview
Andermatt Swiss Alps is a first-rate holiday destination with a land bank of 1.5 mn sqm offering broad activity andlifestyle pursuits.
The project is planned to include 490 apartments, 25 exclusive villas, and 6 hotels with a capacity of 844 rooms and a skiarena.
In Dec 2013, ASA opened its first 100-room, 5-star deluxe hotel operated by The Chedi Andermatt.
Mr. Samih Sawiris has become the new majority shareholder of ASA with a 51% share by converting his loans to theGroup into ASA equity, ODH now is owns 49% and ASA is deconsolidated from the Group’s financials.
Salalah - Oman
Agenda
ODH: Leading Developer of Fully Integrated Towns
Projects Overview
Operational, Financial Summary and Outlook
Appendix
Business Segments 1H 2016
Revenue EBITDA Adj. EBITDA1
(CHF mn) 1H 2016 1H 2015 Δ in % 1H 2016 1H 2015 1H 2016 1H 2015
Hotels 48.6 58.5 (16.9%) (1.9) 6.0 2.9 6.3
Real Estate & Construction 32.1 41.1 (21.9%) 21.2 12.5 12.2 9.5
Land 4.6 42.6 (89.2%) 8.3 40.8 4.3 42.3
Destination Management 7.4 6.8 8.8% (2.5) (1.7) (2.4) (1.5)
Other Operations 2 16.7 15.5 7.7% 4.4 4.5 4.2 4.2
Corporate & Unallocated Items - - - (42.6) (24.2) (13.1) (13.8)
ODH Group 109.4 164.5 (33.5%) (13.1) 37.9 8.1 46.9
1Adjusted EBITDA: EBITDA adjusted for non cash items (which includes provisions & impairments, other gains and losses, FX losses & share in associates)
2 Other Operations includes revenue from Tamweel Group with the amount of CHF 11.3 mn vs. CHF 9.0 mn in 1H 2015.
Real Estate KPIs 1H 2016
Value of contracted units (CHF mn)
Number of contracted units
Average selling price (CHF/m2)
Value of deferred Income (CHF mn)
Country Destination 1H 16 1H 15 1H 16 1H 15 1H 16 1H 15 1H 16 1H 15
Egypt El Gouna 45.2 60.3 102 150 2,897 2,541 84.4 80.4
Fayoum 0.2 0.2 3 1 757 590 2.9 3.2
Makadi 0.4 0.8 10 16 545 646 0.6 0.6
Gardania 0.9 1.8 1 3 1,419 1,262 - -
Oman Jebel Sifah 3.7 4.0 2 5 3,026 2,200 18.6 17.6
Salalah Beach 1.3 0.9 2 4 3,376 3,512 7.4 13.5
Montenegro Luštica Bay 5.7 1.5 16 3 5,533 4,495 34.6 29.6
ODH Group 57.4 69.5 136 182 2,888 2,379 148.5 144.9
Numbers net of cancellations1:
ODH Group 51.8 42.2 122 138
1 Cancellations of the accumulated sales from prior periods.
Deferred Revenue Recognition Schedule
(CHF mn)
Country DestinationDeferred Revenue
Balance2016 2017 2018
Egypt El Gouna84.44 18.79 50.85 14.79
Fayoum2.94 1.83 1.11 -
Makadi0.60 0.60 - -
Total Egypt87.98 21.22 51.96 14.79
Oman Jebel Sifah18.55 7.21 4.76 6.58
Salalah Beach7.40 4.62 - 2.78
Total Oman25.95 11.83 4.76 9.36
Montenegro Lustica Bay34.63 - 29.09 5.54
ODH Group Total Group 148.55 33.05 85.81 29.69
Total number of hotel rooms
Number of available hotel
rooms
Occupancyfor total rooms
(%)
Occupancy for available rooms
(%)
TRevPAR*(CHF)
GOP PAR*(CHF)
Destination 1H 16 1H 15 1H 16 1H 15 1H 16 1H 15 1H 16 1H 15 1H 16 1H 15 1H 16 1H 15
El Gouna1 2,683 2,530 2,683 2,530 51 65 51 65 39 49 6 12
Taba Heights2 2,365 2,365 442 1,756 4 11 21 15 14 15 (16) (9)
Makadi3 1,627 1,627 1,005 1,627 21 64 33 64 26 39 1 12
FloatingHotels
27 27 27 27 6 11 6 11 46 78 (40) (20)
Total Oman4 767 561 767 561 64 45 64 45 95 85 16 8
UAE 346 346 346 346 74 70 74 70 203 192 79 67
OHD Group 7,815 7,636 5,214 7,107
Hotel KPIs 1H 2016
1. Ocean View Hotel: No of operating rooms in Q1 15 were only 155. whereby, 79 rooms have been converted to residential units. In Q2 2016 Ancient Sand Hotel was opened with 56 rooms.2. During the Q1 2016, only 1 hotel was operating (Sofitel with 442 rooms) in Taba Heights. Whereby, during 1H 2015 only 4 hotels were operating representing 1,756 rooms.3. In 1H 2016, only 2 hotels were operating (Royal Azur with 491 rooms & Citadel Azur with 514 rooms) in Makadi. Whereby, during 1H 2015 all 4 hotels were operating representing 1,627 rooms.4. Sifawy number of rooms was reduced to 67 rooms and Al Fanar Hotel was opened with a total number of 218 rooms.
* Financial KPIs are calculated based on the number of available rooms during the reported period of Q1 2016.* Includes all expenses of the hotels in the destinations.
Total number of hotel rooms
Number of available hotel
rooms
Occupancyfor total rooms
(%)
Occupancy for available rooms
(%)
TRevPAR*(CHF)
GOP PAR*(CHF)
Destination Q2 16 Q2 15 Q2 16 Q2 15 Q2 16 Q2 15 Q2 16 Q2 15 Q2 16 Q2 15 Q2 16 Q2 15
El Gouna1 2,683 2,530 2,683 2,530 50 68 50 68 39 52 7 14
Taba Heights2 2,365 2,365 442 1,756 5 13 27 18 18 17 (14) (4)
Makadi3 1,627 1,627 1,005 1,627 19 74 31 74 22 44 (1) 16
FloatingHotels
27 27 27 27 5 14 5 14 35 89 (61) (35)
Total Oman4 767 561 767 561 45 26 45 26 63 50 (7) (14)
UAE 346 346 346 346 72 73 72 73 190 189 66 64
OHD Group 7,815 7,636 5,214 6,847
Hotel KPIs Q2 2016
* Financial KPIs are calculated based on the number of available rooms during the reported period of Q1 2016.* Includes all expenses of the hotels in the destinations.
1. Ocean View Hotel: No of operating rooms in Q1 15 were only 155. whereby, 79 rooms have been converted to residential units. In Q2 2016 Ancient Sand Hotel was opened with 56 rooms.2. During the Q1 2016, only 1 hotel was operating (Sofitel with 442 rooms) in Taba Heights. Whereby, during 1H 2015 only 4 hotels were operating representing 1,756 rooms.3. In 1H 2016, only 2 hotels were operating (Royal Azur with 491 rooms & Citadel Azur with 514 rooms) in Makadi. Whereby, during 1H 2015 all 4 hotels were operating representing 1,627 rooms.4. Sifawy number of rooms was reduced to 67 rooms and Al Fanar Hotel was opened with a total number of 218 rooms.
1H 2016 1H 2015
Revenue 109.4 164.5
Cost of sales (102.4) (114.7)
Gross profit 7.0 49.8
Gross profit margin 6.4% 30.3%
(Loss)/Profit before tax (49.5) 7.6
Income tax expense (0.8) (4.7)
Non-controlling interests (9.0) (1.1)
Net (Loss) / Profit attributable to ODH shareholders (41.3) 4.0
Summary Income Statement
31.6.16 31.12.15
Property, plant and equipment 863.8 940.4
Inventories 183.9 191.3
Receivables 237.5 234.7
Cash and bank balances 120.8 167.6
Total assets 1,664.4 1,808.6
Borrowings 504.7 507.1
Payables 38.4 47.0
Other Liabilities 180.9 215.4
Total Equity 1,664.4 956.6
Selected Balance Sheet Items
Snap Shot - Income Statement And Balance Sheet 1H 2016, CHF Million
Debt Structure
Key Debt Metrics
Total debt by base currency in million 1
Finalized the debt refinancing term sheet and now finalizing the related agreements expected to be finalized in Q3 2016.
Current maturity profile excluding TamweelCHF mn, as of 30.6.16
Comment
• Total debt excluding Tamweel in 1H 2016 reached CHF 424.5 mn.
• Total debt including Tamweel in 1H 2016 reached CHF 504.7 mn.
Debt maturity profile after rescheduling2
CHF mn, as of 30.6.16
1 Debt includes Tamweel
2 Refinancing structure, including overdraft facilities and excluding Tamweel ,with 3 years grace period and after paying off CHF 47.7 mn.
5 312
27
5061
7379 83
33
3 1 1 10
20
40
60
80
100135
102
56 60
20 18 16 11 5 1 1 0
20
40
60
80
100
120
140
CF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
1,411 1,490 1,5111,667
207 214 196 19963 63 63 6350 32 31 3215 20 28 29
0
500
1,000
1,500
2,000
FY 2013 FY 2014 FY 2015 H1 2016
EGP USD AED EUR OMR
Financing Profile 1
Collateralization profile Including Tamweelin %, as of 30.6.16
Interest expenses by currency in %, as of 30.6.16
Total debt by currency in %, as of 30.6.16
30.6.16 31.12.15
Equity ratio (%) 2 51.6 52.9
Weighted average cost of debt (%) 3 8.1 7.5Hotels
41%
Shares22%
Others25%
Nil12%
Secured88%
Unsecured12%
25%
46%
8%
4%
17% EGP
USD
EUR
AED
OMR
47%
33%
3%4%
2%11% EGP
USD
EUR
AED
CHF
OMR
1 All debt figures exclude debt relating to Tamweel2 Equity Ratio = Total Equity/Total Assets3 Excluding Tamweel
Outlook 2016
Real Estate
In El Gouna, Egypt, we are planning to launch a new real estate product in Q4 16.
In Fayoum, Egypt, we are planning to launch new products with a total inventory of USD 3.4 mn in Q4 16.
In Makadi, Egypt, we are progressing with the construction of the club house.
In Lustica Bay, Montenegro, we are ahead of schedule with the construction of 88 new apartment buildings and finalized the Marina’s
superstructure.
In Salalah, Oman, we have selected the water park designer, planning to start construction by Q4 16.
In Egypt, currently studying several land opportunities in New Cairo and the North Coast for first and second homes markets.
Hotels
In Lustica Bay, Montenegro, we signed a contract with world renowned luxury hotel brand The Chedi, for the destination’s first hotel,
planning to start construction this year.
Finalizing the construction of Byoum Lakeside Hotel in Fayoum, Egypt to be opened on September 1st, 2016 and The Cove extension, UAE
to be opened in Q1 2017.
Capitalizing on the huge demand that was acknowledged on Oman during the ITB Berlin conference by adding 84 new rooms to Al Fanar
hotel’ s existing portfolio, bringing its total room count to 302 by December 2016.
In Taba Heights, Egypt, we re-opened 163 rooms in Strand Beach & Golf Resort in July 2016 out of the 503 rooms.
Corporate
Progressing with the implementation of the new destination based structure, ultimately improving efficiency and investor transparency.
Andermatt - Switzerland
Agenda
ODH: Leading Developer of Fully Integrated Towns
Projects Overview
Operational, Financial Summary and Outlook
Appendix
Lustica- Montenegro 19 / 30
Historical Financial KPIs
56 5965
57 60 57 56 57
40
60
80
2008 2009 2010 2011 2012 2013 2014 2015
Contracted sales (CHF mn)
TRevPAR 1
8162
7656 57 51 50 56
0
50
100
2008 2009 2010 2011 2012 2013 2014 2015
81 6987
57 61 51 47 55
0
50
100
2008 2009 2010 2011 2012 2013 2014 2015
336
136 173115
21366 88 106
0100200300400
2008 2009 2010 2011 2012 2013 2014 2015
668
317 297152 184 204 265 254
0
500
1000
2008 2009 2010 2011 2012 2013 2014 2015
2.6 3.2 4.45.3 6.9
2.5 2.62.5
0
5
10
2008 2009 2010 2011 2012 2013 2014 2015
Number of units sold
Average selling price (CHF’000’/m2)
Occupancy rate (%)
Average room rate (CHF)
1 Total Revenue per available room
* Revenues and KPIs of Citadel Azur, five –stars hotel with 514 rooms was added back to ODH’s hotel portfolio in FY14, post the settlement reached with Falcon Hotels
Income Statement, CHF Million
All figures are in CHF mn, unless otherwise noted
2011 2012 2013 2014 2015 1H 2016
Egypt 208 211 161 179 220 71
Oman 6 18 15 30 36 24
UAE 27 30 29 27 27 14
Montenegro - - - - 19 -
Others 15 14 17 14 4 -
Total Revenues 256 272 221 251 306 109
Cost of sales (208) (219) (187) (188) (209) (87)
Depreciation Expense (28) (30) (28) (25) (26) (15)
Gross Profit 20 23 6 37 71 7
% Margin 8% 9% 3% 15% 23% 6%
Administrative expenses (81) (66) (71) (45) (39) (20)
Investment income 12 6 5 4 10 3
Other gains and losses (13) (33) (39) 93 (7) (10)
Finance costs (8) (9) (31) (33) (34) (21)
Share of losses of associates (5) (1) (10) (9) (19) (8)
Profit / (Loss) before tax (76) (79) (140) 47 (18) (49)
% Margin (30%) (29%) (63%) 19% (6%) (45%)
Income tax expense (0) (11) (21) (11) (4) (1)
Profit / (Loss) from continuing operations (76) (90) (160) 36 (22) (50)
% Margin (30%) (33%) (72%) 14% (7%) (46%)
Profit / (Loss) from discontinuing operations - (11) (7) - - -
Total income statement (76) (101) (167) 36 (22) (50)
Non-controlling interests (7) (4) (10) (6) (3) (9)
Owners of the Parent Company (70) (97) (158) 42 (19) (41)
Total income statement (76) (101) (167) 36 (22) (50)
Finance costs 8 9 31 33 34 21
Income tax expense - 11 21 11 4 1
EBIT (68) (82) (116) 80 15 (28)
% Margin (27%) (30%) (52%) 32% 5% (26%)
Depreciation Expense 28 30 28 25 26 15
EBITDA (40) (52) (88) 105 41 (13)
% Margin (16%) (19%) (40%) 42% 13% (12)
Balance Sheet, CHF Million
All figures are in CHF mn 2011 2012 2013 2014 2015 1H 2016
Cash & Bank Balances 79 102 73 101 168 121
Net Receivables 137 95 52 96 71 57
Due from Related Parties 45 18 17 37 35 32Inventories 478 499 357 306 191 184Other Current Assets 88 82 62 114 103 105Total Current Assets 828 795 562 654 568 499Property, Plant and Equipment 969 1,003 767 887 940 864Investment Property 76 79 10 12 11 9
Goodwill 8 7 7 7 6 6Investment in Associates 29 19 104 112 101 90Long-Term Receivables 102 94 33 84 165 180Other Non-Current Assets 70 85 42 25 18 16Assets Held for Sale - - 150 - - -Total Assets 2,083 2,083 1,673 1,781 1,809 1,664Trade and Other Payables 58 50 30 37 30 24
Borrowings2 282 324 198 274 282 300Due to Related Parties 6 17 16 3 2 2Current Tax Liabilities 6 5 3 6 5 2Provisions 90 79 96 83 82 81Shareholders’ Loan 23 9 39 71 19 10Other Current Liabilities 181 251 157 157 146 127
Total Current Liabilities 645 735 550 631 566 546
Land Liabilities 32 32 26 23 17 14Borrowings 254 279 211 258 225 205Other Non-Current Liabilities 58 60 46 48 44 39Liabilities Held for Sale - - 79 - - -Total Liabilities 990 1,106 911 960 852 804Minority Interest 241 236 219 200 232 211
Shareholders' Equity 853 740 543 621 725 649
Total Liabilities & Equity 2,083 2,083 1,673 1,781 1,809 1,664
New and Ongoing Real Estate Projects
Egypt, El Gouna Joubal Views , Extension to Joubal
Project Description Built on carefully crafted elevated land & designed to give residents a panoramic view of their surroundings. From different levels; residents can see the marina, the sea, and the mountains.
Key Facts Location El Gouna, Egypt
Launch Date September 2015
Footprint (sqm) 1,304
Final Delivery September 2018
Product 1
Type Twin Villas
No of units 8
Total BuA (sqm) 1,336
Inventory value, USD 3,600,000
Product 2
Type Villas
No of units 5
Total BuA (sqm) 1,225
Inventory value, USD 3,750,000
Launched
Joubal Lagoon Phase 2
Key Facts Location El Gouna, Egypt
Launch Date September 2015
Total Project Area (m2) 52,000
Footprint (m2) 3,073
Final Delivery September 2017
Product 1Type Twin Villas
No of units 26
Total BuA (sqm) 4,342
Inventory value, USD 13,520,000
Product 2Type Villas
No of units 5
Total BuA (sqm) 1,715
Inventory value, USD 4,400,000
Project Description Directly overlooking the lagoon and golf course, adding more features to the Joubal project units.
LaunchedEgypt, El Gouna
Sabina – Twin Villas
Project Description Inspired from Nubian like design with a new modern edge, using earth colors , designed to give residents the luxury ofspace and privacy of their own pools and gardens.
Key Facts Location El Gouna, Egypt
Launch Date September 2015
Product Type Twin Villas
Total Project Area (sqm) 33,454
Footprint (sqm) 2,715
Total BUA (sqm) 4,704
No of units 30
Inventory value, USD 12,600,000
Final Delivery September 2018
LaunchedEgypt, El Gouna
Water Side Condos Newly launched
Project Description Apartment Blocks, targeting Egyptian young families, offering affordability , function-ability & exclusivity, overlooking a unique water feature.
Key Facts Location El Gouna, Egypt
Launch Date December 2015
Product type Apartments
Total Project Area (sqm) 45,643
Footprint (sqm) 5,897
Total BUA (sqm) 16,876
No of units 145
Inventory value, USD 32,698,083
Final Delivery December 2019
Egypt, El Gouna
Fanadir Bay
Key Facts Location El Gouna, Egypt
Launch Date April 2016
Product Type Villas and Twin Houses
Total Project Area (sqm) 224,300
Footprint (sqm) 8,728
Total BUA (sqm) 17,144
No of units 85
Inventory value, USD 60,000,000
Final Delivery 2020
Newly Launched
Project Description Fanadir Bay brings intelligently designed waterfront units to one of its most exclusive neighborhoods yet with its vast spacesand unique architecture, nothing stands against its originality.
Egypt, El Gouna
Byoum - Fayoum
Key FactsLocation Fayoum, Egypt
Launch Date Q1 2016
Total Project Area (m2) 3,935 m2
Footprint (m2) 1,910 m2
Final Delivery Q4 2025
Inventory Value, EGP 30,000,000 (USD 3,900,000)
Project Description Directly overlooking the spiritual lake of Qarun, plans are set to develop two luxury residential communities and a
hotel
To be launched in 4Q16
Egypt, Fayoum
OmanSalalah Beach
Ongoing RE Launched Projects
Key Facts
Type Al Fanar Apartments
Total BuA (sqm) 4,395
No of units 78
Inventory value, OMR 2,784,563 (USD 7,232,624 )
Avg Price/m2 (OMR) 2,202 (USD 5,718)
Sold to date % 68%
Key Facts
Type Salalah Villa
Total BuA (sqm) 18,087
No of units 54
Inventory value, OMR 10,928,000 (USD 28,384,387)
Avg Price/m2 (OMR) 1,051 (USD 2,730)
Sold to date% 43%
OmanJebal Sifah
Key Facts
Type Villa
Total BuA (sqm) 16,748
No of units 51
Inventory value, OMR 5,185,000 (USD 13,467,519)
Average Selling Price/m2 (OMR) 1,044 (USD 2,711)
Sold to date % 71%
Key Facts
Type Apartment
Total BuA (sqm) 26,438
No of units 148
Inventory value, OMR 4,112,952 (USD 10,682,981)
Average Selling Price/m2 (OMR) 1,278 (USD 3,319)
Sold to date % 87%
Key Facts
Launch Date July 2013
Type Villa
Project Area (sqm) 7,276
Total BuA (sqm) 2,840
No of units 4
Inventory value, EUR9,200,000
(USD 10,120,000)
Sold to date (%) 50%
Final Delivery Q4, 2018
Key Facts
Launch Date July 2013
Type Apartment
Project Area (sqm) 8,473
Total BuA (sqm) 6,564
No of units 44
Inventory value, EUR15,952,415 (USD 17,547,656)
Sold to date (%) 82%
Final Delivery Q1, 2017
Key Facts
Launch Date June 2014
Type Apartment
Project Area (sqm) 7,589
Total BuA (sqm) 7,609
No of units 44
Inventory value, USD16,919,297 (USD 18,611,226)
Sold to date (%) 61%
Final Delivery Q2, 2017
MontenegroLustica Bay
Ongoing RE Launched Projects
Hotels Portfolio
El Gouna - Hotels Map
*****420 Rooms
A luxury guesthouse directly set on thenorthern shores of Mangroovy Beachand its kitesurfing stations. Abrainchild of an antiques collector, thehotel offers seclusion making it anideal hideaway for luxury seekers.
An upscale beachfront resort offering arelaxing atmosphere combined with alavish selection of on-ground facilitiesfrom diving to kitesurfing, worldrenowned Angsana Spa outlet and anearby professional 18-hole golfcourse.
An award winning architectural mix ofArabian and Egyptian styles by theinternationally renowned Michael Graves.The beachfront resort is built on nineislands surrounded by gardens offeringmouthwatering cuisine, private beaches,outdoor heated pool, and water sports.
*****339 Rooms 268 Rooms
A stylish Nubian oasis exclusivelysituated on El Gouna’s Championship18-hole golf course. Complementedby stunning architecture,breathtaking landscapes, sparklinglagoons, the hotel is home to a spaand fitness center for ultimateserenity and rejuvenation.
Be it an absolute romantic holiday or a blend ofromance and action, this 4-star hotel de charm isthe spot. Boasting he most relaxing views of theNew Abu Tig Marina coupled with some specialtreats for an unforgettable romantic holiday, theAdults Only hotel is minutes away from ElGouna’s northern beaches.
****54 Rooms
*****
*****
12 Rooms
A family-oriented hotel featuring colorful hillsideaccommodations reminiscent of Tuscan homes,select villas spread around a swimming lagoon,as well as deluxe seafront rooms benefiting fromprime views over the hotel’s sheltered bay. Hotelguests have exclusive access to the privateBellevue Beach
*****134 Rooms
A beachfront resort with an allinclusive program. The 4-star hotelis built along a virgin beach expanseof a protected bay. Club-styleanimation and a myriad of sportsactivities make it a perfect choicefor active families.
A charming Adults Only authentic hotelfashioned to reminiscent an Upper Egypt’sMayor’s mansion in its most romantic setup.The hotel is complemented by superb interiordesign, a private lagoon beach and is adjacentto El Gouna’s lively Downtown area.
The 4-star all inclusive resort managedby a family-owned Belgian hotel chain.Offering unparalleled Red Sea holidaysfor families with children, the resorts’unique architectural design iscomplemented by lush landscapedgardens.
Capturing the essence of Egypt with itswinding alleys and stunning features,the hotel overlooks El Gouna’s lagoonsand offers a tropical garden setting inthe heart of the town with easy access tothe vibrant Tamr Henna Square.
****234 Rooms
****
239 Rooms
****66 Rooms
The Three Corners Ocean View offers a 4-starall inclusive experience in an Adults-Onlyenvironment. The hotel is home to two uniqueclusters, Le Soleil and Du Port, each offering aunique atmosphere with one overlooking theseafront and the other with fabulous Marinaviews0
****
434 Rooms
****115 Rooms
****69 Rooms
Overlooking the New Abu Tig Marinawith direct access to El Gouna’snorthern beaches, Mosaique Hotel isideal for sun and adventure seekers.The ultra four-star hotel boasts cooldécor, modern flair and amenitiestailored to the convenience of itsguests.
Directly overlooking the Abu Tig Marinapromenade, minutes away from thebeach, the 3-star Captain’s Inn is one of ElGouna’s most sought after small hotelswelcoming divers, kite surfers, andpartygoers.
With only 28 guestrooms in thebeautiful Abu Tig Marina, Turtle’s Innis one of El Gouna’s most sought-afteraddresses. This modern hotel offerstastefully furnished rooms, refreshingstyle, and personalized service.
***28 Rooms
In the heart of the Abu Tig Marina withthe most luxurious views and the mostconvenient accessibility! Famed for itsterrace, Ali Pasha’s nightly beauty iscomplemented by the delicacies servedat the town’s only Indian Restaurant,Tandoor.
***67 Rooms
Arena Inn offers all the amenities andcomforts of a holiday resort with a privateswimming pool and beautifully designedwaterfront restaurant. Hotel guests enjoyaccess to a full-service beach.
***
50 Rooms
***
177 Rooms *****56 Rooms
over 80 operating apartment suitesoffering guests a relaxed alternative tomore traditional styles of hotelaccommodation. Additionally, a further56 Deluxe hotel Rooms will open inApril 2016. The currently open segmentof the wider project is located in theAncient Sands Hilltop Village.
Taba Heights- Hotels Map
*****426 Rooms
Beautifully framed by the pristine naturalenvironment, award winning architect MichaelGraves created the beachfront resort as a paintbox of colors and quirky shapes of Egyptianvaults and dome village styled architecture.Home to 3 swimming pools and a saltwaterlagoon with its own beach, eight restaurants, awide array of leisure facilities, the town’s onlyCasino.
Consisting of three separate structures linkedby tropical garden pathways and resting on aprime waterfront location, the resort offersbreathtaking views of the sea, pool and desertmountains. The hotel offers 10 restaurantsand bars, exclusive entertainment and with itsstate-of-the-art conference facilities, thehotel is the perfect business retreat.Swimming pools and a fully equipped healthclub.
The 4-star all inclusive resort managed by afamily-owned Belgian hotel chain. Offeringunparalleled Red Sea holidays for families withchildren, the resorts’ unique architectural designis complemented by lush landscaped gardens.
****394 Rooms
A signature Club Med Resort in the heart ofSinai. Providing exceptional opportunities todiscover the region’s famous attractions, theunique Resort is set on a beautifullypreserved bay covering 27 hectares, flankedby a 600 yard stretch of private beachoffering an ideal site for exploring thefabulous underwater life of the Red Sea.
*****503 Rooms
The beachfront resort is situated on over 44 acresof lush gardens, 2800 sqm of pools and waterfallswith over 500sqm of pristine private beach andhouses seven exclusive dining outlets, a privateSpa, a Steam Room, Swedish Sauna treatmentsand Jacuzzi.
*****
442 Rooms
*****385 Rooms
Capturing the essence of Egypt with its windingalleys and stunning features, the hotel overlooks ElGouna’s lagoons and offers a tropical garden settingin the heart of the town with easy access to thevibrant Tamr Henna Square.
****215 Rooms
Located at Makadi bay, one of Hurghada’sfascinating shores, 25 km away fromHurghada International airport, the AllInclusive beachfront resort overlooks itsown spacious private sandy beach, offeringseven restaurants & bars, a fully equippedwatersports center, two tennis courts, asquash court, billiards, a fully equippedfitness room and 2 swimming pools.
Only 25 km away from HurghadaInternational airport, the beachfrontresort is easily accessible offering sevenrestaurants & bars, a fully equippedwatersports center, two tennis courts, asquash court, billiards, a fully equippedfitness room and 2 swimming pools
*****
491 Rooms
****339 Rooms
****287 Rooms
Ideally located only a fewkilometers away fromHurghada, Sahl Hasheesh
Makadi is settled in the heart of the Red Sea tourism hub located only 25kilometers away from Hurghada International Airport and just a short drivefrom the bustling shopping and dining venues of Hurghada and SahlHasheesh. Featuring a variety of residential units, hotels, commercial andentertainment areas, as well as all the supporting infrastructure andservices, Makadi allows individuals and families to benefit from a moreactive lifestyle.
Ideally located only a few kilometers awayfrom Hurghada, Sahl Hasheesh andSafaga; the Adults Only Azur MakadiGardens Hotel provides easy access tomost of the Red Sea’s world-classwaterfront destinations with clusteredfacilities with its sister hotels Royal Azurand Club Azur.
*****
514 Rooms
Its ideal location at the entrance of the emirate made the development a regionalinvestment and leisure attraction. Extending over about 300,000 sqm, The Coveoverlooks 600m of private beach and comprises an internationally renowned 5-star hoteloperated by Rotana, exclusive real estate, and a range of upscale services and amenities.State-of-the-art leisure and urban facilities are within easy reach as the development is inclose proximity to two golf courses, several shopping malls and supermarkets,international schools and hospitals of international standard.www.thecove-uae.com
*****
346 Rooms
Located on an idyllic water inlet on the Ras Al Khaimahbeachfront overlooking the Arabian Gulf with 600 meters ofpristine beach, the Cove Rotana encompasses a number of Villasthat are ideally designed to accommodate families of a group offriends. With a Nubian touch in their design, the Villas are well-crafted and aesthetically designed to offer comforts that youwould expect of a 5-star resort and much more. From spaciousLiving rooms, private terraces, spectacular views of the ArabianGulf to the lagoon or lush green hills, each of the Villas aredesigned to anticipate and cater to your every need.
Jebel Sifah, Orascom Development’s third biggest town, is only an hour away from the Muscatcity center stretching across 5 km of beachfront. Jebel Sifah boasts a planned 950 residentialunits, an18-hole PGA golf course, and an 84-berth inland marina surrounded by a picturesquemarina town. Orascom Hotel Management currently operates the Sifawy Boutique Hotel, andfurther plans to develop five 5-star hotels including some of the world’s most prestigiousbrands, among them the Four Seasons. Restaurants, cafés, luxuriously-appointed spas, andboutiques featuring the latest fashion complete the town’s offerings.www.jebelsifah.com
****
67 Rooms
Designed by renowned Italian designer Alfredo Freda, theSifawy Boutique Hotel is ideally located only 45 minutesaway from the capital city of Muscat in the heart of thepicturesque marina town.
A newly opened hotel offering aunique holiday experience capitalizingon the Rotana’s understanding andhospitality expertise, the upscalehotel’s Omani-inspired architecturefeatures a series of clusterssurrounding the main building,housing major public facilities andamenities.
Nestled on the picturesque marinapromenade of Salalah Beach andfacing the Indian Ocean, the hoteloffers traditional lifestyle and valuesexpressed in the glowing architectureand aromatic food along with thescents of frankincense andsandalwood. Among the recreationalfacilities are 2 large swimming pools,a state-of-the-art wellness center andintimate guestrooms.
Designed by renowned Italian designerSandro Serapioni, this distinctiveproperty offers a unique blend ofcontemporary design and sereneArabian architecture. This 4 star deluxeHotel boasts 218 guestrooms andsuites, a variety of restaurants and bars,stylish meeting rooms, a distinct spa,and an 800-square meter infinity pooloverlooking the only tropical stretch ofbeach in the region.
Offering a spectacular landscape of fertile plains, fresh water springs, and lush coconuttrees enhanced by the monsoon during the summer, Salalah Beach is the Group’s firstand the region’s only tropical destination. Located on the southern part of Oman,Salalah Beach is a large family-oriented complex boasting over 8 km of beachfront onthe Arabian Sea as well as a man-made lagoon system extending the sea inland. Oncefully developed, it comprises high-end luxury apartments and villas, restaurants andcafés, shopping and retail outlets, hotels - ranging from boutique to five-star beachresorts, a 200-berth inland marina, as well as two 18-hole PGA golf courses.
*****400 Rooms
*****82 Rooms
****218 Rooms
Khaled Bichara
CEO of ODH
Mr. Bichara currently holds the position of Chief Executive Officer of Orascom Development Holding. He is also a Co-Founder of Accelero Capital. He previously served as GroupPresident and Chief Operating Officer of VimpelCom Ltd (“VimpelCom”). He was also Chief Executive Officer of Orascom Telecom Holding S.A.E. (“OTH”) as well as Chief OperatingOfficer of Wind Telecomunicazioni S.p.A. (“Wind Italy”). He played a pivotal role in the merger of VimpelCom with Wind Telecom S.p.A, (“Wind Telecom”) for a total consideration ofUSD 25.7Bn to create the world’s sixth largest telecommunications carrier. Mr. Bichara managed ten operations across the globe through OTH and Wind Italy and 22 operationsacross the globe through VimpelCom. He was the Co-founder, Chairman and CEO of “LINKdotNET”. In 2011, Mr. Bichara also served as Group Executive Chairman of OTH as well asChairman of Wind Italy. Mr. Bichara currently serves as a board member of various telecom and IT companies, including Orascom Telecom Media and Technology Holding S.A.E.;SUPERNAP International S.A., the developer of the world-renowned SUPERNAP data centers; and Joyent Inc., a global provider of cloud computing software and services. He is thechairman of the board of Italiaonline S.p.A., the leading Italian Internet Platform and the #1 email service in Italy; as well as the chairman of the board of SEAT Pagine Gialle S.p.A.,the Italian leader in internet services for SMEs (website, directories, local adv). He is also a board member of Orascom Construction Limited, a company dually listed on NASDAQDubai and the Egyptian Stock Exchange. Mr. Bichara is also a member of the Advisory Board for the Computer Science and Engineering Department of the American University inCairo. He was previously a member of the GSMA board. Mr. Bichara holds a Bachelor of Science degree from the American University in Cairo.
AshrafNessim
CFO of ODH
Eng. Nessim has more than 20 years of experience in various fields including finance, infrastructure and hospitality. He currently holds the position of Deputy Group Chief FinancialOfficer of Orascom Development Holding. He is also the Chief Financial Officer of Orascom Hotels and Development the Egyptian largest subsidiary of the group whichencompasses 64 subsidiaries. Prior to joining the group he was the Chief Financial Officer representing Beltone Private Equity in their Pick Albatros Investment, one of the largestplayers in the travel and tourism industry in Egypt with almost 6,000 rooms under management. He played a pivotal role in the legal and financial restructuring of Pick AlbatrosGroup. From 2007 to 2010 he was the Group Chief Financial Officer of Mobiserve, a key player in the mobile telecom network infrastructure in 9 countries within the Middle Eastand South Asia. Prior to shifting his career to finance he established the operation of Raya Distribution in Algeria and managed merchandising activities in all 34 shops in of Nokiaand Samsung in Egypt. Mr. Nessim holds a Bachelor degree in Mechanical Engineering and he is also one of the earlier people in Egypt to hold the CFA designation in 2004.
Abdelhamid Abouyoussef
ODH Chief Hotel Officer
Eng. Abouyoussef started his career in design and installation of hotel electro-mechanical systems in 1998.He soon moved to project management in hotel construction, inaddition to being the owner’s representative at Amphoras Holiday Inn, Sharm El Sheikh. He now has his own company, Shores Hotels currently managing 1,600 rooms acrossEgypt. He also founded a travel agency that handles over 100,000 tourists per year. Eng. Abouyoussef helped develop Orascom Hotels Management, a JV between ODH andShores, to manage OHD’s entire hotels portfolio, and other hotels on the ODH level. Eng. Abouyoussef received his B.S. in Mechanical Engineering from the American Universityin Cairo and a Masters of Science degree from the University of California at Berkeley.
NermineFaltas
ODH Chief Human
Resource Officer
Nermine has 20+ years of multi-disciplinary experience in Human Capital, Organizational Development, IT and Process Re-engineering. She started her career in 1995 as softwareengineer, then joined LINKdotNET as Project Manager, working on many process and quality improvement assignments. As the company was expanding, she grew interest inorganization development, where she was appointed HR & Operations Sr. Manager. Nermine has managed multiple strategic initiatives and change management projectsincluding mergers, regional expansion, restructuring and many other organizational development initiatives. In September 2010, Nermine became VP for Operations & HumanCapital in A15, Nermine led all centralized supporting Operations including; Human Resources, Administration and Management Information Systems, serving 10+ subsidiaries, 16regional offices and with more than 1000 employees. Nermine is PROSCI Certified change management practitioner. She is a Certified Trainer/Facilitator. She is also corporate aCo-active coach, accredited by the (International coaching federation). Additionally she holds a certification in HR competency analysis profiling from HRCG Canada. She obtainedher Bachelor of Science, Computer Science from the American University in Cairo in 1995.
Management Team
Board Of Directors
Samih SawirisChairman
Non-Executive Member
After receiving his Diploma in economic engineering from the Technical University of Berlin in 1980, Mr. Sawiris founded his first company, National Marine BoatFactory. In 1996 he established Orascom Projects for Touristic Development and in 1997 Orascom Hotel Holdings, the two companies that later merged to formOrascom Hotels & Development S.A.E. Further-more, Mr. Sawiris established El Gouna Beverages Co. in 1997, which he sold in 2001 when it was the largestbeverage company in Egypt. As of April 1, 2014, Mr. Sawiris took over the position of the CEO on ad-interim basis of Orascom Development and serves as Chairmanof the Board of Directors.
Adil DouiriNon-Executive
Member
Mr. Douiri is the founding shareholder and CEO of Mutandis, a Moroccan consumer goods company established in 2008. Mr. Douiri served in His Majesty KingMohamed VI’s Government as Minister of Tourism (2002-2007) and later as Minister for Tourism, Crafts & Social Economy (2004-2007). In 1992 Mr. Douiri foundedCasablanca Finance Group (later renamed CFG Bank), the country’s first investment bank. Until 2002 he acted as chairman of its supervisory board and is still a boardmember. He is also a board member of MFEx, a Stockholm based Technology Company serving the financial industry, and Holcim Maroc, a publicly listed companyat the Casablanca stock exchange, subsidiary of Holcim group (now Lafarge Holcim). Mr. Douiri graduated as an engineer from the Ecole Nationale des Ponts &Chaussées (ENPC) in Paris.
Franz EgleNon-Executive
Member
Mr. Egle’s background is in strategy development, corporate communications, media and PR. After holding senior positions in the private sector he was in charge ofcommunications at the Swiss Federal Department of Foreign Affairs and advisor to the Minister of Foreign Affairs (1993-1998). Before co-founding Dynamics Group,a Swiss company providing strategic consulting, communication management and research analysis, Mr. Egle was a partner of Hirzel. Schmid.Nef Konsulenten, acommunication and financial consultancy firm (1999- 2006). Mr. Egle holds a Doctor’s degree in sociology from the University of Zurich. Dynamics Group, where Mr.Egle is a Senior Partner, has been retained by the Group to provide services in the field of communications
Carolina Müller-
MöhlNon Executive
Member
Ms. Müller-Möhl holds a M.A. in Political Science. Since 2000, she has managed and presided over the Müller-Möhl Group. She has served as a Board Member ofNestlé S.A. (2004-2012) and currently sits on the Boards of Neue Zürcher Zeitung and Fielmann AG. Further she sits on more than a dozen foundation and advisoryboards, including the Department of Economics at the University of Zurich and the renowned Think Tank Avenir Suisse. She is also a member of the Board of Trusteesof the Bertelsmann-Foundation in Germany.
Jürgen Fischer Non Executive
Member
Mr. Jürgen Fischer is founder of "The Pearl Management Consultants" in Dubai, United Arab Emirates. Fischer is Non-Executive Chairman of Mövenpick Hotels & Resortsafter having served as Non-Executive Board member since 2008. He was CEO of Dubai Properties LLC, a major real estate developer in the UAE. Besides looking after20,000 residential leasing units, 50,000 m2 of retail space, thousands of "Built to Sell" apartments and villas and several mas-ter developments in Dubai, he was as wellinvolved in international developments of Sama Dubai Group in, among others, Morocco and Oman. During his time with Dubai Properties a fully owned subsidiary ofDubai Holding and the sister company Tatweer he oversaw several theme park and tourist projects. Between 1995 and 2008, Jürgen Fischer held several senior positionswith Hilton International, such as President Commercial Operations and President for Continental Europe, Middle East and Africa, as well as President of Scandic HotelsAB. Prior to joining Hilton, he worked for the Walt Disney Company in different roles in Florida and Paris including Vice President Sales & Marketing for Disneyland Paris,Director of Resort Development at Disneyland Paris and General Manager of the Grand Floridian Beach Resort & Spa at Walt Disney World, Florida. Fischer held severalhotel management positions in Europe and Middle East after starting his professional life as a chef in 1970. He later graduated from the Ecole Hôtelière Lausanne,Switzerland and obtained an MBA with Honors from IMEDE/IMD, Lausanne in 1988. Since several years Fischer serves on the International Advisory Commit-tee of EcoleHôtelière Lausanne.
Marco Sieber Non Executive
Member
Mr. Sieber, born in Lucerne, Switzerland, studied economics at the Business School in Lausanne. After graduating with a business degree in 1989 he took over the familyowned company SIGA Ltd. Together with his brother, Mr. Sieber managed to transform SIGA Ltd. into a company which operates internationally and which has over 400employees. SIGA Ltd. develops and produces products for the construction sector, namely in the field of energy-saving sealings. In 2012, Mr. Sieber also became majorityshareholder in Baertschi Agrartecnic Ltd.
Jürg WeberNon Executive
Member
Mr. Weber holds an MBA and a Major in Finance and Strategic Planning from the Wharton School, University of Pennsylvania. Mr. Weber previously studied CivilEngineering at the School of Engineering in Switzerland and Microeconomics and English at the University of California, Santa Barbara. Mr. Weber is currently member ofthe Board of Directors from “AVIVA Sigorta A.S.”, which is domiciled in Istanbul, Turkey, and of “BENSYS HOLDING”, which is domiciled in Amsterdam, Holland. He also isfounder and owner of "GOLDEN HORN MANAGEMENT LTD". Since September 1, 2015, Mr. Weber holds the position of Division CEO of SIX Payments Services and istherefore also a member of the SIX Group Executive Board. Previously Mr. Weber was CEO of "BOYNER HOLDING", Turkey, a Partner of "McKINSEY & COMPANY, INC.",Turkey, a Consultant for "McKINSEY & COM-PANY, INC.", Switzerland, an assistant to the Vice Chairman in "UBS PHILIPS & DREW", UK and a project manager and assistantto CEO with "UBS, BANK OF SWITZERLAND", New York.
Naguib S. SawirisNon Executive
Member
Naguib S. Sawiris is the Founder and CEO of Yup (2014-present), a San Francisco based education Technology Company. Yup provides on-demand personalized learningthrough mobile chat with over 300,000 student sign-ups. Yup has raised $7.5M from leading tech and education investors including Index Ventures, Floodgate Fund, andStanford University's StartX Fund. Naguib S. Sawiris attended Stanford University where he designed his own major, Economic and Enterprise Engineering. He is an activeangel investor, having invested in over 20 companies including DoctorOnDemand, Transcriptic, and Womply.
Board Of Directors
The Cove - UAE
El Gouna - Egypt
Disclaimer
THESE MATERIALS ARE BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION AND ARE STRICTLY CONFIDENTIAL AND MUST NOT BE REPRODUCED, DISCLOSED OR FURTHER DISTRIBUTED TO ANY OTHERPERSON, OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE.
IN PARTICULAR, NEITHER THIS DOCUMENT NOR ANY PART OR COPY OF IT MAY BE TAKEN OR TRANSMITTED INTO THE UNITED STATES OF AMERICA (THE "UNITED STATES") OR TO U.S. PERSONS OR DISTRIBUTED,DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS. NEITHER THIS DOCUMENT NOR ANY PART OR COPY OF IT MAY BE TAKEN OR TRANSMITTED INTO, OR DISTRIBUTED OR REDISTRIBUTED,DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA OR JAPAN, OR TO ANY RESIDENT THEREOF.
ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF UNITED STATES, AUSTRALIAN, CANADIAN OR JAPANESE SECURITIES LAWS. THE DISTRIBUTION OF THIS DOCUMENT INOTHER JURISDICTIONS MAY BE RESTRICTED BY LAW, AND PERSONS INTO WHOSE POSSESSION THIS DOCUMENT COMES SHOULD INFORM THEMSELVES ABOUT, AND OBSERVE, ANY SUCH RESTRICTIONS.
THIS DOCUMENT DOES NOT CONTAIN OR CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TO BUY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER ORSOLICITATION IS NOT AUTHORIZED OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE AN OFFER OR SOLICITATION. THE SECURITIES OF OD HOLDING HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDERTHE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO OR FOR THE ACCOUNT OR THE BENEFIT OF “U.S. PERSONS” (AS SUCH TERM IS DEFINED IN REGULATION SUNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED) ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. OD HOLDING NOR ITSSHAREHOLDERS INTEND TO REGISTER ANY PORTION OF THE OFFERING IN THE UNITED STATES OR CONDUCT A PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES.
THIS DOCUMENT IS DIRECTED ONLY AT PERSONS (i) WHO ARE OUTSIDE THE UNITED KINGDOM OR (ii) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED) (THE "ORDER") OR (iii) WHO FALL WITHIN ARTICLE 49(2)(a) TO (e) ("HIGH NET WORTHCOMPANIES, UNICORPORATED ASSOCIATIONS ETC.) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). ANY PERSON WHO IS NOT A RELEVANT PERSON MUST NOT ACTOR RELY ON THIS COMMUNICATION OR ANY OF ITS CONTENTS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS COMMUNICATION RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BEENGAGED IN ONLY WITH RELEVANT PERSONS.
IN ANY EEA MEMBER STATE THAT HAS IMPLEMENTED DIRECTIVE 2003/71/EC (TOGETHER WITH ANY APPLICABLE IMPLEMENTING MEASURES IN ANY EEA MEMBER STATE, THE “PROSPECTUS DIRECTIVE”) THISCOMMUNICATION IS ONLY ADRESSED TO AND IS ONLY DIRECTED AT QUALIFIED INVESTORS IN THAT EEA MEMBER STATE WITHIN THE MEANING OF THE PROSPECTUS DIRECTIVE.
THIS DOCUMENT CONSTITUTES NEITHER AN OFFER TO SELL NOR A SOLICITATION TO BUY ANY SECURITIES AND IT DOES NOT CONSTITUTE A PROSPECTUS PURSUANT TO ARTICLES 652a AND/OR 1156 OF THE SWISSCODE OF OBLIGATIONS OR ARTICLES 32 ET SEQ. OF THE LISTING RULES OF THE SWX SWISS EXCHANGE. A DECISION TO INVEST IN SHARES OF THE GROUP SHOULD BE BASED EXCLUSIVELY ON THE ISSUE ANDLISTING PROPECTUS PUBLISHED BY THE GROUP FOR SUCH PURPOSE.
THE INFORMATION CONTAINED IN THIS DOCUMENT IS NOT INTENDED TO LEAD TO THE CONCLUSION OF ANY CONTRACT OF WHATSOEVER NATURE, IN PARTICULAR WITHIN THE TERRITORY OF EGYPT, THE UNITEDARAB EMIRATES, KUWAIT, MOROCCO, OMAN AND SAUDI ARABIA.
RoundingNumbers presented throughout this presentation may not add up precisely to the totals provided in the tables and text. For presentation purposes, figures are rounded to the nearest decimal place. Percentages, percent changes and absolute variances, however, are calculated based on the exact figures as shown in the financial statements.
Recommended