September 2016
Agenda ODH : Leading Developer of Fully Integrated Towns Projects Overview Operational, Financial Summary and Outlook Appendix
Orascom Development Holding AG Today The Only Leading Developer of Fully Integrated Towns Including Real Estate, Hotels. activities, marinas Leisure, golf courses, hospitals, schools & all supporting infrastructure Spearheaded by a seasoned Executive Management Team with unparalleled expertise in the travel, tourism and real estate sector level 3 to 5 Star Hotels To suit different standards 39 Awards During 2015 for our hotels Continuous Progress on Strategy Execution Achieved all communicated targets of 2015 Dual listing onsix and EGX with 40,409,926 outstanding shares One of The Largest Land Banks 100.2 million sqm, out of which 68.0 million sqm is still undeveloped MORE THAN Over 25 YEARS DEVELOPMENT EXPERIENCE Approx. 8,073 Employees As of June 30 th, 2016 One of The Largest Hotels Portfolio 34 hotels with 7,915 rooms Loyal Shareholder Base Been with the company for over 7 years 59% Of our hotels in Egypt are certified with Green Star 8 Operating Destinations El Gouna, Taba Heights, Makadi, & Haram City (Egypt), Jebel Sifah & Salah Beach (Oman), The Cove (UAE), and Andermatt (Switzerland) Other destinations in different stages of development Real Estate Sales over CHF 2.0 bn Since 1997
ODH is a Pioneer Developer of Self-Sufficient Resort Towns Company Overview Shareholding Structure 1 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 mn 1 ), in addition to an EDR program on the Egyptian Stock Exchange (market cap CHF 75.1 mn 1 ) 27.3% 4.9% 67.8% Samih Sawiris and Trustees OS Holding Free Float Organizational Structure Key Financial Indicators (CHF mn) Key Projects Egypt Oman UAE Montenegro Other Projects Total Revenue 254 272 221 251 306 109 2011 2012 2013 2014 2015 1H 2016 Adj. EBITDA 81 43 10 25 8 2011 2012-4 2013 2014 2015 1H 2016 Total Land Bank 49.1 mn sqm 20.8 mn sqm 0.3 mn sqm 6.9 mn sqm 23.1 mn sqm 100.2 mn sqm 1 As of June 30, 2016. Number of Hotels 28 Hotels 4 Hotels 1 Hotel - 1 Hotel 34 Hotels 2 2 Includes Chedi Hotel in Andermatt with 100 rooms. Number of Rooms 6,702 Rooms 767 Rooms 346 Rooms - 100 Rooms 7,915 Rooms
Initial destination concept Detailed destination concept Marketing concept and sales strategy Product sign-offs Start of sales Start of construction Internal / Operator hand over Buyer hand over / opening Start of operation Periodic assessment of performance and service quality Unique, Vertically Integrated, Business Model Acquisition phase New destination identification acquisition & initial concept Development Phase Land Bank Value Creation Real Estate Hotel Development Destination Development Project Management Operational Phase RE Owner Services Hotel Operations Destination Operations Operations Management Planning & Design Construction Property & Facility Management
Business Segments - Overview Hotels Real Estate & Construction Destination Management Land Sales & Other Investments 33 Hotels, total of 7,815 rooms 1 23 self managed, 10 undermanagement Orascom Hotels Management (OHM) manages company s hotel inventory 4,354 employees 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 Public services &infrastructure maintaenance that includes: Water Services Sewage treatments Electricty 1,731 employees 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 Revenues 1H 2016 CHF 48.6 mn Revenues 1H 2016 CHF 32.1 mn Revenues 1H 2016 CHF 7.4 mn 1 As of June 30, 2016 2 From 1997-1H 2016 (gross number) 3 Including all company support funcitions in Egypt, Oman, Morocco and Montenegro Revenues 1H 2016 CHF 21.3 mn Land Sales: CHF 4.6 mn Tamweel: CHF 11.3 mn Others: CHF 5.4 mn
El Gouna - Egypt
Agenda ODH: Leading Developer of Fully Integrated Towns Projects Overview Operational, Financial Summary and Outlook Appendix
El Gouna - World Class Destination on the Egyptian Red Sea Coast El Gouna Key Facts 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, 35km from 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 80 60 40 20 0 56% 53 51 54 61% 59 54% 59% 68% 51% 47 52 52 48 53 49 48 39 2011 2012 2013 2014 2015 1H 2016 Real Estate KPIs 100 80 60 40 20 0 2.8 24.8 ARR TRevPar Occ. Rate 47 61 82 121 163 2.3 2.5 2.5 19.4 34.9 48.7 2.5 82.9 2.9 57.4 2011 2012 2013 2014 2015 1H 2016 Value of Contracted Units, CHFmn Average Price/sqm, CHF 000 s 102 No of Units 80% 70% 60% 50% 40% 30% 20% 10% 0% 4.0 3.0 2.0 1.0 0.0 El Gouna Draws Most of its Clientele from Europe... Visitors Breakdown by Nationality as of 1H 2016 32% 10% 4% 2% 6% 4% 42% Netherland Swizerland Belgium UK Germany Egypt Others
Taba Heights Sinai s Premium Destination Total land area : 4.27 million sqm, Developed: 2.56 million sqm, (60% developed) Taba Heights Key Facts 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 Taba International Airport The town offers a marina and a golf course alongside a wide range of facilities such as a medical center, child daycare services, a school, and a vibrant up-town center Hotel KPIs, CHF Visitors Breakdown by Nationality as of 1H 2016 60 50 40 30 20 10 0 51% 44% 41% 53 52 48 29% 50 37 20% 44 43 21% 28 18 21 14 18 2011 2012 2013 2014 2015 1H 2016 60% 50% 40% 30% 20% 10% 0% 9% 40% 3% 6% 42% Jordan Egypt Israel Ukraine Others ARR TRevPar Occ. Rate
Makadi - The First Gated Community In The Heart Of Hurghada Makadi Key Facts Hotel KPIs, CHF 50 40 30 20 10 0 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 total of 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 International Airport. The town resort features residential units and hotels, along with spacious commercial area, a medical center, among other services 55% 63% 51% 61% 64% 34 36 40 40 38 30 33 39 41 32 36 26 1,752 96 54 52 57 10 33% 2011 2012 2013 2014 2015 1H 2016 Real Estate KPIs 5 4 3 2 1 0 591 3.9 621 ARR TRevPar Occ. Rate 2.3 2.2 595 599 3.0 640 545 1.0 0.4 2011 2012 2013 2014 2015 1H 2016 Value of Contracted Units, CHFmn Average Price/sqm No of units 650 600 550 500 450 70% 60% 50% 40% 30% 20% 10% 0% Visitors Breakdown by Nationality as of 1H 2016 2% 2% 2% 11% 2% 7% 22% 52% Germany Egypt Ukraine Belgium UK Belarus Sweden Others
Byoum The Heart of Fayoum, On Lake Qarun Byoum Key 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 hotel apartments, expected to be launched in Q1 2016 located 100 km southwest of Cairo in an ideal location overlooking the spiritual lake of Qarun. Plans are 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) Master Plan Reviving the Destination 1. Byoum Main Gate 5. Beach Club 2. 4 Star Hotel 6. Commercial Area 3. Hunting Lodge 4. Pier Finalizing the construction of Byoum Hotel, to be launched during September 1 st, 2016. Planning to launch new phases with a total inventory of EGP 30.0 mn (USD 3.4 mn) during Q4 2016.
The Cove 5-Star Beachfront Getaway for Leisure and Relaxation The Cove Key Facts Total land area : 0.3 million sqm The resort encompasses: A 346 room five star hotel managed by Rotana, an acclaimed operator in MENA and worldwide 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, which will serve as an extension, adding 145 rooms to the hotel s capacity. Hotel KPIs, CHF Visitor's Breakdown by Nationality as of 1H 2016 200 150 100 50 77% 182 139 81% 81% 75% 70% 74% 215 217 203 196 203 161 160 161 165 163 90% 80% 70% 2% 2% 17% 26% UAE Germany Switzerland 0 2011 2012 2013 2014 2015 1H 2016 ARR TRevPar Occ. Rate 60% 53% Austria Others
Jebel Sifah- A Tranquil Haven Jebel Sifah Key Facts 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 hotels in 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. 200 150 100 50 0 Hotel KPIs, CHF 25% 33% 27% 31% 33% 33% 144 152 106 111 116 119 82 81 100 109 52 76 2011 2012 2013 2014 2015 1H 2016 ARR TRevPar Occ. Rate Real Estate KPIs 35% 30% 25% 20% 15% 10% 5% 0% Visitors Breakdown by Nationality as of 1H 2016 5% 9% Oman 5% UK 6% Germany 8% Switzerland 67% France Others 15 10 15 15 12 5 5 2 2.5 2.9 3.0 2.5 2.4 2.4 3.5 3.0 2.5 2.0 5 0 7.4 10.5 5.7 3.6 4.3 3.7 2011 2012 2013 2014 2015 1H 2016 Value of Contracted Units, CHFmn No of Units Average Price/sqm, CHF 000 s 1.5 1.0 0.5 0.0
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 open their doors, each operating ~395 rooms The town will encompass, residential units, 200 berth marina; the Marina Town where 45 shops are already operating, commercial centers and a water park The destination is located only 25 km away from Salalah Airport and approximately 90 minutes flight from most GCC countries Hotel KPIs, CHF Visitors Break Down by Nationality as of 1H 2016 200 100 0 15 39% 47% 54% 67% 33% 128 113 95 141 97 110 74 102 79 94 2012 2013 2014 2015 1H 2016 ARR TRevPar Occ. Rate Real Estate KPIs 20 8 9 41 15 1 4.0 3.7 80% 70% 60% 50% 40% 30% 20% 10% 0% 4.5 4.0 3% 2% 2% Germany 5% Oman 13% 20% 19% 36% Others Italy United Arab Emirates Saudi Arabia 10 5 0 2.2 2.0 2.4 3.4 10.3 5.9 3.7 3.7 4.1 1.3 2011 2012 2013 2014 Value of Contracted Units, CHFmn 2015 1H 2016 Average Price/sqm, CHF 000 s No of Units 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0
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 annual rent 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 worldclass marinas with an operating capacity of 226 berths, 18-hole championship golf Course (Gary Player Signature Course) Construction started in Sep 2013. In less than two years, Lustica is now an emerging new town with residents moving in their homes in the summer of 2015 Emerging New Town First two buildings clusters (10 buildings comprising 70 apartments) have been fully finished and delivered in August, with residents moving in the summer of 2015. We are progressing ahead of schedule with the construction of the new F and G building comprising 88 apartments expected to be finalized by early 2017. 80% of the main marina works have been completed, with an expected operating date of Summer 2017. Excavation works for the Golf Course is completed and the construction permit has been obtained (the first Golf Course permit in Montenegro). Planning to start the construction in 2016 of the first hotel in Lustica Bay headed by luxury hotel brand The Chedi Group. 30 20 10 Real Estate KPIs 0 43 48 41 24 16 4.8 5.5 4.3 4.4 4.1 15.4 19.1 22.0 11.1 5.7 2012 2013 2014 2015 1H 2016 Value of Contracted Units, CHFmn Average Price/sqm,CHF000's No of Units 6.0 4.0 2.0 0.0
Other Projects Overview Overview Overview Chbika Located South of Agadir on the Atlantic Ocean, Chbika has a total land bank of 15mn sqm split into two phases with land 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 1,000 rooms. Ongoing negotiations for raising the needed funds to develop the 3 hotels in addition to finishing the marina and the first 9 holes of the golf course. Eco-Bos 2 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 5,000jobs. 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 to efficiently manage energy and water resources. Andermatt Andermatt Swiss Alps is a first-rate holiday destination with a land bank of 1.5 mn sqm offering broad activity and lifestyle pursuits. The project is planned to include 490 apartments, 25 exclusive villas, and 6 hotels with a capacity of 844 rooms and a ski arena. 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 the Group into ASA equity, ODH now is owns 49% andasa 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. EBITDA 1 (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 1 Adjusted 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/m 2 ) 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 cancellations 1 : ODH Group 51.8 42.2 122 138 1 Cancellations of the accumulated sales from prior periods.
Deferred Revenue Recognition Schedule (CHF mn) Country Destination Deferred Revenue Balance 2016 2017 2018 Egypt Oman Montenegro ODH Group El Gouna Fayoum Makadi Total Egypt Jebel Sifah Salalah Beach Total Oman Lustica Bay Total Group 84.44 18.79 50.85 14.79 2.94 1.83 1.11-0.60 0.60 - - 87.98 21.22 51.96 14.79 18.55 7.21 4.76 6.58 7.40 4.62-2.78 25.95 11.83 4.76 9.36 34.63-29.09 5.54 148.55 33.05 85.81 29.69
Hotel KPIs 1H 2016 Total number of hotel rooms Number of available hotel rooms Occupancy for 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 Gouna 1 2,683 2,530 2,683 2,530 51 65 51 65 39 49 6 12 Taba Heights 2 2,365 2,365 442 1,756 4 11 21 15 14 15 (16) (9) Makadi 3 1,627 1,627 1,005 1,627 21 64 33 64 26 39 1 12 Floating Hotels 27 27 27 27 6 11 6 11 46 78 (40) (20) Total Oman 4 767 561 767 561 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 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.
Hotel KPIs Q2 2016 Total number of hotel rooms Number of available hotel rooms Occupancy for 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 Gouna 1 2,683 2,530 2,683 2,530 50 68 50 68 39 52 7 14 Taba Heights 2 2,365 2,365 442 1,756 5 13 27 18 18 17 (14) (4) Makadi 3 1,627 1,627 1,005 1,627 19 74 31 74 22 44 (1) 16 Floating Hotels 27 27 27 27 5 14 5 14 35 89 (61) (35) Total Oman 4 767 561 767 561 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 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.
Snap Shot - Income Statement And Balance Sheet 1H 2016, CHF Million Summary Income Statement 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 Selected Balance Sheet Items 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
Key Debt Metrics Debt Structure Finalized the debt refinancing term sheet and now finalizing the related agreements expected to be finalized in Q3 2016. Current maturity profile excluding Tamweel CHF mn, as of 30.6.16 Debt maturity profile after rescheduling 2 CHF mn, as of 30.6.16 140 120 100 80 60 40 20 0 135 102 56 60 20 18 16 11 5 1 1 CF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100 80 60 40 20 0 5 3 12 27 50 61 73 79 83 33 3 1 1 1 Total debt by base currency in million 1 2,000 1,500 1,411 1,490 1,511 1,000 1,667 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. 1 Debt includes Tamweel 500 0 207 214 196 199 63 50 15 63 32 20 63 31 28 63 32 29 FY 2013 FY 2014 FY 2015 H1 2016 EGP USD AED EUR OMR 2 Refinancing structure, including overdraft facilities and excluding Tamweel, with 3 years grace period and after paying off CHF 47.7 mn.
Financing Profile 1 Interest expenses by currency in %, as of 30.6.16 Total debt by currency in %, as of 30.6.16 2% 3% 11% EGP 4% USD 33% 47% EUR AED CHF OMR 17% EGP 4% 8% 25% 46% USD EUR AED OMR Collateralization profile Including Tamweel in %, as of 30.6.16 30.6.16 31.12.15 Nil 12% Hotels 41% Unsecured 12% Equity ratio (%) 2 51.6 52.9 Weighted average cost of debt (%) 3 8.1 7.5 Others 25% Shares 22% Secured 88% 1 All debt figures exclude debt relating to Tamweel 2 Equity Ratio = Total Equity/Total Assets 3 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 1 st, 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 Occupancy rate (%) 100 81 76 62 56 57 51 50 56 50 0 2008 2009 2010 2011 2012 2013 2014 2015 Average room rate (CHF) Contracted sales (CHF mn) 400 300 200 100 0 336 136 173 115 213 66 88 106 2008 2009 2010 2011 2012 2013 2014 2015 Number of units sold 80 60 40 56 59 65 57 60 57 56 57 2008 2009 2010 2011 2012 2013 2014 2015 1000 500 0 668 317 297 152 184 204 265 254 2008 2009 2010 2011 2012 2013 2014 2015 TRevPAR 1 Average selling price (CHF 000 /m 2 ) 100 50 0 81 87 69 57 61 51 47 55 2008 2009 2010 2011 2012 2013 2014 2015 10 5 0 5.3 6.9 2.6 3.2 4.4 2.5 2.6 2.5 2008 2009 2010 2011 2012 2013 2014 2015 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 32 Inventories 478 499 357 306 191 184 Other Current Assets 88 82 62 114 103 105 Total Current Assets 828 795 562 654 568 499 Property, Plant and Equipment 969 1,003 767 887 940 864 Investment Property 76 79 10 12 11 9 Goodwill 8 7 7 7 6 6 Investment in Associates 29 19 104 112 101 90 Long-Term Receivables 102 94 33 84 165 180 Other Non-Current Assets 70 85 42 25 18 16 Assets Held for Sale - - 150 - - - Total Assets 2,083 2,083 1,673 1,781 1,809 1,664 Trade and Other Payables 58 50 30 37 30 24 Borrowings 2 282 324 198 274 282 300 Due to Related Parties 6 17 16 3 2 2 Current Tax Liabilities 6 5 3 6 5 2 Provisions 90 79 96 83 82 81 Shareholders Loan 23 9 39 71 19 10 Other Current Liabilities 181 251 157 157 146 127 Total Current Liabilities 645 735 550 631 566 546 Land Liabilities 32 32 26 23 17 14 Borrowings 254 279 211 258 225 205 Other Non-Current Liabilities 58 60 46 48 44 39 Liabilities Held for Sale - - 79 - - - Total Liabilities 990 1,106 911 960 852 804 Minority 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 Launched 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
Egypt, El Gouna Joubal Lagoon Phase 2 Launched Project Description Directly overlooking the lagoon and golf course, adding more features to the Joubal project units. Key Facts Location El Gouna, Egypt Launch Date September 2015 Total Project Area (m 2 ) 52,000 Footprint (m 2 ) 3,073 Final Delivery September 2017 Product 1 Type Twin Villas No of units 26 Total BuA (sqm) 4,342 Inventory value, USD 13,520,000 Product 2 Type Villas No of units 5 Total BuA (sqm) 1,715 Inventory value, USD 4,400,000
Egypt, El Gouna Sabina Twin Villas Launched Project Description Inspired from Nubian like design with a new modern edge, using earth colors, designed to give residents the luxury of space 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
Egypt, 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 Newly Launched Project Description Fanadir Bay brings intelligently designed waterfront units to one of its most exclusive neighborhoods yet with its vast spaces and unique architecture, nothing stands against its originality. 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
Egypt, Fayoum Byoum - Fayoum To be launched in 4Q16 Project Description Directly overlooking the spiritual lake of Qarun, plans are set to develop two luxury residential communities and a hotel Key Facts Location Fayoum, Egypt Launch Date Q1 2016 Total Project Area (m 2 ) 3,935 m 2 Footprint (m 2 ) 1,910 m 2 Final Delivery Q4 2025 Inventory Value, EGP 30,000,000 (USD 3,900,000)
Oman Salalah Beach Ongoing RE Launched Projects Key Facts Type Total BuA (sqm) 4,395 Al Fanar Apartments No of units 78 Inventory value, OMR 2,784,563 (USD 7,232,624 ) Avg Price/m 2 (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/m 2 (OMR) 1,051 (USD 2,730) Sold to date% 43%
Oman Jebal 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/m 2 (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/m 2 (OMR) 1,278 (USD 3,319) Sold to date % 87%
Montenegro Lustica Bay Ongoing RE Launched Projects Key Facts Launch Date July 2013 Type Villa Project Area (sqm) 7,276 Total BuA (sqm) 2,840 No of units 4 Inventory value, EUR 9,200,000 (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, EUR 15,952,415 (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, USD 16,919,297 (USD 18,611,226) Sold to date (%) 61% Final Delivery Q2, 2017
Hotels Portfolio
El Gouna - Hotels Map
***** 12 Rooms ***** 420 Rooms ***** 134 Rooms A luxury guesthouse directly set on the northern shores of Mangroovy Beach and its kitesurfing stations. A brainchild of an antiques collector, the hotel offers seclusion making it an ideal hideaway for luxury seekers. An upscale beachfront resort offering a relaxing atmosphere combined with a lavish selection of on-ground facilities from diving to kitesurfing, world renowned Angsana Spa outlet and a nearby professional 18-hole golf course. A family-oriented hotel featuring colorful hillside accommodations reminiscent of Tuscan homes, select villas spread around a swimming lagoon, as well as deluxe seafront rooms benefiting from prime views over the hotel s sheltered bay. Hotel guests have exclusive access to the private Bellevue Beach ***** 339 Rooms ***** 268 Rooms **** 54 Rooms An award winning architectural mix of Arabian and Egyptian styles by the internationally renowned Michael Graves. The beachfront resort is built on nine islands surrounded by gardens offering mouthwatering cuisine, private beaches, outdoor heated pool, and water sports. A stylish Nubian oasis exclusively situated on El Gouna s Championship 18-hole golf course. Complemented by stunning architecture, breathtaking landscapes, sparkling lagoons, the hotel is home to a spa and fitness center for ultimate serenity and rejuvenation. Be it an absolute romantic holiday or a blend of romance and action, this 4-star hotel de charm is the spot. Boasting he most relaxing views of the New Abu Tig Marina coupled with some special treats for an unforgettable romantic holiday, the Adults Only hotel is minutes away from El Gouna s northern beaches.
**** 239 Rooms **** 69 Rooms **** 234 Rooms A beachfront resort with an all inclusive program. The 4-star hotel is built along a virgin beach expanse of a protected bay. Club-style animation and a myriad of sports activities make it a perfect choice for active families. Overlooking the New Abu Tig Marina with direct access to El Gouna s northern beaches, Mosaique Hotel is ideal for sun and adventure seekers. The ultra four-star hotel boasts cool décor, modern flair and amenities tailored to the convenience of its guests. The Three Corners Ocean View offers a 4-star all inclusive experience in an Adults-Only environment. The hotel is home to two unique clusters, Le Soleil and Du Port, each offering a unique atmosphere with one overlooking the seafront and the other with fabulous Marina views0 **** 434 Rooms **** 115 Rooms **** 66 Rooms The 4-star all inclusive resort managed by a family-owned Belgian hotel chain. Offering unparalleled Red Sea holidays for families with children, the resorts unique architectural design is complemented by lush landscaped gardens. Capturing the essence of Egypt with its winding alleys and stunning features, the hotel overlooks El Gouna s lagoons and offers a tropical garden setting in the heart of the town with easy access to the vibrant Tamr Henna Square. A charming Adults Only authentic hotel fashioned to reminiscent an Upper Egypt s Mayor s mansion in its most romantic setup. The hotel is complemented by superb interior design, a private lagoon beach and is adjacent to El Gouna s lively Downtown area.
*** 50 Rooms *** 67 Rooms *** 28 Rooms Directly overlooking the Abu Tig Marina promenade, minutes away from the beach, the 3-star Captain s Inn is one of El Gouna s most sought after small hotels welcoming divers, kite surfers, and partygoers. In the heart of the Abu Tig Marina with the most luxurious views and the most convenient accessibility! Famed for its terrace, Ali Pasha s nightly beauty is complemented by the delicacies served at the town s only Indian Restaurant, Tandoor. With only 28 guestrooms in the beautiful Abu Tig Marina, Turtle s Inn is one of El Gouna s most sought-after addresses. This modern hotel offers tastefully furnished rooms, refreshing style, and personalized service. *** 177 Rooms ***** 56 Rooms Arena Inn offers all the amenities and comforts of a holiday resort with a private swimming pool and beautifully designed waterfront restaurant. Hotel guests enjoy access to a full-service beach. over 80 operating apartment suites offering guests a relaxed alternative to more traditional styles of hotel accommodation. Additionally, a further 56 Deluxe hotel Rooms will open in April 2016. The currently open segment of the wider project is located in the Ancient Sands Hilltop Village.
Taba Heights- Hotels Map
***** 426 Rooms Beautifully framed by the pristine natural environment, award winning architect Michael Graves created the beachfront resort as a paint box of colors and quirky shapes of Egyptian vaults and dome village styled architecture. Home to 3 swimming pools and a saltwater lagoon with its own beach, eight restaurants, a wide array of leisure facilities, the town s only Casino. ***** 503 Rooms Consisting of three separate structures linked by tropical garden pathways and resting on a prime waterfront location, the resort offers breathtaking views of the sea, pool and desert mountains. The hotel offers 10 restaurants and bars, exclusive entertainment and with its state-of-the-art conference facilities, the hotel is the perfect business retreat. Swimming pools and a fully equipped health club. **** 394 Rooms The beachfront resort is situated on over 44 acres of lush gardens, 2800 sqm of pools and waterfalls with over 500sqm of pristine private beach and houses seven exclusive dining outlets, a private Spa, a Steam Room, Swedish Sauna treatments and Jacuzzi. ***** 442 Rooms ***** 385 Rooms **** 215 Rooms The 4-star all inclusive resort managed by a family-owned Belgian hotel chain. Offering unparalleled Red Sea holidays for families with children, the resorts unique architectural design is complemented by lush landscaped gardens. A signature Club Med Resort in the heart of Sinai. Providing exceptional opportunities to discover the region s famous attractions, the unique Resort is set on a beautifully preserved bay covering 27 hectares, flanked by a 600 yard stretch of private beach offering an ideal site for exploring the fabulous underwater life of the Red Sea. Capturing the essence of Egypt with its winding alleys and stunning features, the hotel overlooks El Gouna s lagoons and offers a tropical garden setting in the heart of the town with easy access to the vibrant Tamr Henna Square.
***** 491 Rooms Located at Makadi bay, one of Hurghada s fascinating shores, 25 km away from Hurghada International airport, the All Inclusive beachfront resort overlooks its own spacious private sandy beach, offering seven restaurants & bars, a fully equipped watersports center, two tennis courts, a squash court, billiards, a fully equipped fitness room and 2 swimming pools. Makadi is settled in the heart of the Red Sea tourism hub located only 25 kilometers away from Hurghada International Airport and just a short drive from the bustling shopping and dining venues of Hurghada and Sahl Hasheesh. Featuring a variety of residential units, hotels, commercial and entertainment areas, as well as all the supporting infrastructure and services, Makadi allows individuals and families to benefit from a more active lifestyle. **** 339 Rooms Only 25 km away from Hurghada International airport, the beachfront resort is easily accessible offering seven restaurants & bars, a fully equipped watersports center, two tennis courts, a squash court, billiards, a fully equipped fitness room and 2 swimming pools ***** 514 Rooms Ideally located only a few kilometers away from Hurghada, Sahl Hasheesh **** 287 Rooms Ideally located only a few kilometers away from Hurghada, Sahl Hasheesh and Safaga; the Adults Only Azur Makadi Gardens Hotel provides easy access to most of the Red Sea s world-class waterfront destinations with clustered facilities with its sister hotels Royal Azur and Club Azur.
***** 346 Rooms Located on an idyllic water inlet on the Ras Al Khaimah beachfront overlooking the Arabian Gulf with 600 meters of pristine beach, the Cove Rotana encompasses a number of Villas that are ideally designed to accommodate families of a group of friends. With a Nubian touch in their design, the Villas are wellcrafted and aesthetically designed to offer comforts that you would expect of a 5-star resort and much more. From spacious Living rooms, private terraces, spectacular views of the Arabian Gulf to the lagoon or lush green hills, each of the Villas are designed to anticipate and cater to your every need. Its ideal location at the entrance of the emirate made the development a regional investment and leisure attraction. Extending over about 300,000 sqm, The Cove overlooks 600m of private beach and comprises an internationally renowned 5-star hotel operated 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 in close proximity to two golf courses, several shopping malls and supermarkets, international schools and hospitals of international standard. www.thecove-uae.com
**** 67 Rooms Designed by renowned Italian designer Alfredo Freda, the Sifawy Boutique Hotel is ideally located only 45 minutes away from the capital city of Muscat in the heart of the picturesque marina town. Jebel Sifah, Orascom Development s third biggest town, is only an hour away from the Muscat city center stretching across 5 km of beachfront. Jebel Sifah boasts a planned 950 residential units, an18-hole PGA golf course, and an 84-berth inland marina surrounded by a picturesque marina town. Orascom Hotel Management currently operates the Sifawy Boutique Hotel, and further plans to develop five 5-star hotels including some of the world s most prestigious brands, among them the Four Seasons. Restaurants, cafés, luxuriously-appointed spas, and boutiques featuring the latest fashion complete the town s offerings. www.jebelsifah.com
***** 400 Rooms A newly opened hotel offering a unique holiday experience capitalizing on the Rotana s understanding and hospitality expertise, the upscale hotel s Omani-inspired architecture features a series of clusters surrounding the main building, housing major public facilities and amenities. ***** 82 Rooms Nestled on the picturesque marina promenade of Salalah Beach and facing the Indian Ocean, the hotel offers traditional lifestyle and values expressed in the glowing architecture and aromatic food along with the scents of frankincense and sandalwood. Among the recreational facilities are 2 large swimming pools, a state-of-the-art wellness center and intimate guestrooms. Offering a spectacular landscape of fertile plains, fresh water springs, and lush coconut trees enhanced by the monsoon during the summer, Salalah Beach is the Group s first and 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 on the Arabian Sea as well as a man-made lagoon system extending the sea inland. Once fully developed, it comprises high-end luxury apartments and villas, restaurants and cafés, shopping and retail outlets, hotels - ranging from boutique to five-star beach resorts, a 200-berth inland marina, as well as two 18-hole PGA golf courses. **** 218 Rooms Designed by renowned Italian designer Sandro Serapioni, this distinctive property offers a unique blend of contemporary design and serene Arabian architecture. This 4 star deluxe Hotel boasts 218 guestrooms and suites, a variety of restaurants and bars, stylish meeting rooms, a distinct spa, and an 800-square meter infinity pool overlooking the only tropical stretch of beach in the region.
Management Team Khaled Bichara CEO of ODH Ashraf Nessim CFO 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 Group President 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 Operating Officer 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 of USD 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 operations across 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 as Chairman 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 the chairman 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 NASDAQ Dubai 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 in Cairo. He was previously a member of the GSMA board. Mr. Bichara holds a Bachelor of Science degree from the American University in Cairo. 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 Financial Officer of Orascom Development Holding. He is also the Chief Financial Officer of Orascom Hotels and Development the Egyptian largest subsidiary of the group which encompasses 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 largest players 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 Albatros Group. 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 East and 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 Nokia and 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 Nermine Faltas ODH Chief Human Resource 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, in addition 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 across Egypt. 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 and Shores, 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 University in Cairo and a Masters of Science degree from the University of California at Berkeley. 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 software engineer, then joined LINKdotNET as Project Manager, working on many process and quality improvement assignments. As the company was expanding, she grew interest in organization development, where she was appointed HR & Operations Sr. Manager. Nermine has managed multiple strategic initiatives and change management projects including mergers, regional expansion, restructuring and many other organizational development initiatives. In September 2010, Nermine became VP for Operations & Human Capital in A15, Nermine led all centralized supporting Operations including; Human Resources, Administration and Management Information Systems, serving 10+ subsidiaries, 16 regional offices and with more than 1000 employees. Nermine is PROSCI Certified change management practitioner. She is a Certified Trainer/Facilitator. She is also corporate a Co-active coach, accredited by the (International coaching federation). Additionally she holds a certification in HR competency analysis profiling from HRCG Canada. She obtained her Bachelor of Science, Computer Science from the American University in Cairo in 1995.
Board Of Directors Samih Sawiris Chairman 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 Boat Factory. In 1996 he established Orascom Projects for Touristic Development and in 1997 Orascom Hotel Holdings, the two companies that later merged to form Orascom 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 largest beverage 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 Chairman of the Board of Directors. Adil Douiri Non-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 King Mohamed VI s Government as Minister of Tourism (2002-2007) and later as Minister for Tourism, Crafts & Social Economy (2004-2007). In 1992 Mr. Douiri founded Casablanca 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 board member. He is also a board member of MFEx, a Stockholm based Technology Company serving the financial industry, and Holcim Maroc, a publicly listed company at 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 Egle Non-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 of communications 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, a communication 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- Möhl Non 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 of Nestlé 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 advisory boards, 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 Trustees of the Bertelsmann-Foundation in Germany.
Board Of Directors 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 & Resorts after 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 after 20,000 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 well involved in international developments of Sama Dubai Group in, among others, Morocco and Oman. During his time with Dubai Properties a fully owned subsidiary of Dubai Holding and the sister company Tatweer he oversaw several theme park and tourist projects. Between 1995 and 2008, Jürgen Fischer held several senior positions with Hilton International, such as President Commercial Operations and President for Continental Europe, Middle East and Africa, as well as President of Scandic Hotels AB. 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 several hotel 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 Ecole Hôtelière 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 family owned company SIGA Ltd. Together with his brother, Mr. Sieber managed to transform SIGA Ltd. into a company which operates internationally and which has over 400 employees. SIGA Ltd. develops and produces products for the construction sector, namely in the field of energy-saving sealings. In 2012, Mr. Sieber also became majority shareholder in Baertschi Agrartecnic Ltd. Jürg Weber Non 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 Civil Engineering at the School of Engineering in Switzerland and Microeconomics and English at the University of California, Santa Barbara. Mr. Weber is currently member of the 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 is founder and owner of "GOLDEN HORN MANAGEMENT LTD". Since September 1, 2015, Mr. Weber holds the position of Division CEO of SIX Payments Services and is therefore 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 assistant to CEO with "UBS, BANK OF SWITZERLAND", New York. Naguib S. Sawiris Non 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 learning through 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, and Stanford University's StartX Fund. Naguib S. Sawiris attended Stanford University where he designed his own major, Economic and Enterprise Engineering. He is an active angel investor, having invested in over 20 companies including DoctorOnDemand, Transcriptic, and Womply.
The Cove - UAE
El Gouna - Egypt