Raya Holding saw its net income after minority interest increase 283% y-o-y to EGP 1.7 bn in 2024, according to its latest earnings release (pdf). The company’s revenues climbed 44.2% y-o-y to EGP 45.1 bn during the year, driven by growth across all business segments, including tech, fintech, manufacturing, and retail.

Raya’s retail and distribution segment remained the top contributor to its revenue in 2024, generating EGP 20.3 bn — or around 45% of the total — up 33% y-o-y. The group’s technology and infrastructure segment was the second largest contributor, bringing in EGP 10.8 bn, or 24% of total revenues, marking a 57% y-o-y increase. Raya’s NBFS business accounted for 14% of revenues, with EGP 6.4 bn for the year, up 41% y-o-y, supported by higher demand for SME lending and e-payment solutions. The manufacturing segment came in at EGP 3.3 bn — around 7% of group revenues — with Raya Auto (+72% y-o-y) and Raya Foods (+51% y-o-y) driving growth.

On a quarterly basis, Raya Holding’s net income rose 10x y-o-y to EGP 578 mn in 4Q 2024, with revenues rising 48.7% y-o-y to EGP 12.8 bn. Growth was driven by standout performances at Raya Auto, which posted a 247% y-o-y increase, and Raya Information Technology, with a 55% increase.

What they said: “Building on a strong foundation, the company is pursuing regional and international expansion while deepening its commitment to digital transformation and operational excellence. Strategic priorities for the year revolve on scaling core operations, enhancing customer experience, and embedding sustainability across all business activities,” the statement reads.

ALSO FROM RAYA- Raya’s board approved the purchase of EGP 20 mn worth of treasury shares on the open market, which will be financed from the company’s resources, according to a disclosure (pdf) to the EGX. All or part of these shares will fund Raya’s employee stock ownership plan.

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