More earnings come out: GB Corp and local real estate developer Palm Hills Developments are both out with their 1Q 2025 earnings.

GB AUTO, GB CAPITAL GROWTH PUSHES GB CORP’S 1Q REVENUES UP-

GB Corp’s revenues rose 86.1% y-o-y to EGP 16.8 bn during 1Q 2025, driven by strong growth in both its GB Auto and GB Capital segments, thanks to an improving operating environment, according to the company’s most recent earnings report (pdf). Net income remained flat y-o-y at EGP 626.5 mn, with profitability affected by lower investment income and seasonality.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The breakdown: GB Auto saw its revenues jump 89.0% y-o-y during the quarter to EGP 14.5 bn. This growth was “fueled by robust demand across all business lines, supported by a stronger product mix,” with passenger car revenues notably rising 68% y-o-y due to strong performances in Egypt and regional markets. The group’s NBFS arm GB Capital saw its revenues — before intercompany eliminations — rise 71.1% y-o-y to record EGP 2.5 bn, driven by “continued expansion across its portfolio of alternative financing solutions.”

Looking ahead: “Looking ahead, we are focused on deepening synergies between our auto and capital platforms, accelerating digital transformation, and selectively expanding our regional footprint. With FX markets stabilizing, inflation moderating, and import flows normalizing, GB Corp is exceptionally well positioned to capitalize on Egypt’s emerging recovery and regional growth opportunities,” said CEO Nader Ghabbour.

PALM HILLS REPORTS RECORD NET INCOME-

Palm Hills Developments reported its highest-ever quarterly net income, which came in at EGP 1.5 bn in 1Q 2025, up 54% y-o-y, according to the company’s latest earnings release (pdf). Revenues for the period also grew 35% y-o-y to reach EGP 8.4 bn on the back of strong new sales and revenue recognition.

Sales also surged for the period: New sales stood at EGP 80.2 bn in for the quarter, marking an increase of 148% y-o-y driven by strong sales across all operating regions. Badya sales made up the biggest chunk of the quarter’s sales (44%) with around EGP 35 bn, followed by West Cairo (25%) with EGP 20 bn, North Coast and Alexandria sales (17%) with around EGP 13.7 bn, and East Cairo (14%) with EGP 11.4 bn.

What they said: “In 2Q 2025, we are poised to build on this strong foundation. Our focus will center on further optimizing operational efficiency and unlocking greater value from our diverse portfolio. We remain committed to exceeding market expectations, fostering vibrant communities, and delivering sustained, long-term value for our stakeholders,” Executive Chairman Yasseen Mansour said.

Tags: