Cairo – Mubasher: Orascom Financial Holding (OFH) turned to profitability in 2023, recording a consolidated net profit after tax of EGP 20.45 million, compared to a net loss of EGP 133.39 million a year earlier.

Operating revenues reached EGP 17.57 million last year, up from EGP 40,000 in 2022, according to the annual financial results.

The company reported earnings per share (EPS) of EGP 0.012 in 2023, versus a loss per share of 0.014 the year before.

Total assets rose to EGP 2.62 billion last year from EGP 2.56 billion in 2022.

Standalone Results

OFH posted a standalone net profit of EGP 101.69 million in 2023, compared to a net loss of EGP 201.95 million the year before.

Total revenue hit EGP 83.89 million last year, against a total loss of EGP 246.04 million in 2022.

In the first nine months (9M) of 2023, OFH shifted to consolidated net profits valued at EGP 29.52 million.