Orascom Development Egypt (ODE) reported a consolidated net loss of EGP 984.5 million in Q1-24, a sharp reversal from a EGP 384 million profit in Q1-23. Revenues surged to EGP 4.17 billion, up from EGP 2.95 billion, driven by strong real estate and hotel performance. However, the Egyptian pound's devaluation triggered a EGP 2.4 billion foreign exchange loss, eroding profitability. Basic loss per share stood at EGP 1.05, compared to EPS of EGP 0.26 in Q1-23. Real estate revenues climbed to EGP 2.83 billion, while hotel revenues rose to EGP 698.8 million. Despite 2023's 63.5% annual profit jump to EGP 3.1 billion, currency volatility now clouds near-term prospects.