Earnings season is in full swing, with a handful of listed companies out with their 2Q and 1H results.

VALU’S NET INCOME MORE THAN DOUBLES IN 2Q-

Valu reported a net income of EGP 217 mn in 2Q 2025, marking a 121% increase y-o-y, according to its first earnings release(pdf) since its EGX debut. The fintech giant saw revenues jump 96% y-o-y during the quarter to record EGP 1.5 bn.

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Strong operating performance drives quarterly gains: Gross merchandise value (GMV) for the quarter reached EGP 5.2 bn, while transactions hit 1.9 mn. Spending on Valu’s prepaid card more than tripled y-o-y, averaging EGP 10.6 mn per day, while the Shift auto loan product also contributed significantly to GMV growth.

Solid first-half results: In 1H 2025, revenue rose 94% y-o-y to EGP 2.6 bn, while net income climbed 64% to EGP 341 mn. GMV for the half increased 80% to EGP 10.6 bn on 3.6 mn transactions. Total loans during the six-month period grew 60% y-o-y to EGP 8.9 bn. The company closed the half with 831k activated customers and a 25% market share.

What they said: “We have transitioned from a disruptive startup to a publicly listed company with a proven track record of profitability and strong performance in the first half of 2025, a milestone that cements our evolution,” said CEO Walid Hassouna. “The Amazon transaction, through which Amazon acquired a direct stake in Valu and our EGX listing, has unlocked new strategic levers to accelerate progress, deepen our funding base, and extend our regional footprint, with Jordan marking our first MENA entry beyond Egypt.”

REMEMBER- Valu became the first consumer finance company to list on the EGX in June. The listing came via a novel structure that saw EFG Holding distribute a 20.5% stake in Valu’s parent company, U Consumer Finance, to its shareholders as a dividend in lieu of cash. EFG retained a 67% stake, while Amazon exercised a three-year-old option to acquire a nearly 4% stake at EGP 6.04 per share.

BONYAN POSTS EGP 609 MN IN NET INCOME IN 2Q 2025-

Recently-listed Bonyan saw its revenues increase 18.1% y-o-y to come in at EGP 199.4 mn in 2Q 2025, according to its first earnings release(pdf) since its July IPO. 

Bonyan’s gross asset value (GAV) — the key metric of the real estate investment company’s performance — rose to 17.41 bn as of June 2025, marking a 9% y-t-d increase, outpacing Egypt’s 7.9% average headline inflation in the first six months of the year. The company net income decreased 37.1% y-o-y in 2Q 2025 to record EGP 608.8 mn, as it was impacted by a slower gain in fair market value.

What they said: “Bonyan is firmly positioned to become one of Egypt’s largest owners of Grade-A commercial real estate,” said CEO Tarek Abdelrahman. “The most important indicators of the company’s financial health remain GAV and its sustained growth above inflation, alongside consistent rental revenue expansion.”

REMEMBER-Bonyan made its EGX debut in July pricing its IPO at the lower end of the range at EGP 4.96 per share, in an EGP 1.8 bn transaction. The listing made Bonyan the first pure-play real estate operating company to list on the exchange.

RAYA CX SEES REVENUES RISE, INCOME FALL IN 1H-

Raya Customer Experience reported net income of EGP 145.1 mn in 1H 2025, down 40.9% y-o-y, according to its latest earnings release (pdf). Revenues rose 4.5% to EGP 1.3 bn as steady client demand and a new consultancy line offset last year’s one-off FX gains.

Largely similar performance in 2Q: Revenue rose 7.4% y-o-y to EGP 683.6 mn during the quarter, while net income stood at EGP 79.4 mn, down 41.5% y-o-y. The quarter saw a jump in hosting (11.4%) and insourcing (34.2%) revenues, which helped offset a dip in outsourcing revenues.

Breaking it down: Egypt-based operations made up the lion’s share (79.4%) of the company’s revenues during the first half of the year, coming in at EGP 1 bn. GCC revenues contributed 16.6% at EGP 218.5 mn, Polish and US operations followed. USD revenues accounted for 67.1% of total revenues. “RCX continues to focus on consolidating recurring USD revenues to help mitigate the impact of foreign exchange fluctuations,” the release read.

E-FINANCE POSTS STRONG GROWTH IN 1H AND 2Q 2025-

State-owned fintech giant E-finance saw its adjusted net income rise 65.2% y-o-y in 1H 2025 to EGP 1.3 bn, according to the company’s latest earnings release (pdf). The company’s revenues climbed 41.5% y-o-y to EGP 3.2 bn during the six-month period, “driven by broad-based growth across the group’s subsidiaries.”

Driving the growth: E-finance’s flagship business E-finance Digital Operations contributed 87% of the company’s total revenues for the six-month period, with the subsidiary’s top line rising 36.0% y-o-y to EGP 2.8 bn. This was “driven by solid results across its transaction and cloud hosting revenues” as transaction revenues rose 40.0% y-o-y to EGP 1.1 bn and cloud hosting revenues were up 63.1% y-o-y to EGP 1.2 bn. Revenues also saw solid growth across E-finance’s other subsidiaries, including eNovate, eNable, and eAswaaq. However, eKhalas was the only subsidiary to see a dip in revenues during the half, with a 1.4% y-o-y dip.

On a quarterly basis: Adjusted net income came in at EGP 638.2 mn during the second quarter of the year, marking a 112.6% y-o-y jump, while revenues rose 42.0% y-o-y to EGP 1.6 bn.

What they said:“Our consistent double-digit growth at both the top- and bottom-line levels reflects the strength of our platform, the agility of our business model, and the growing importance of our digital infrastructure in Egypt’s economy.” Chairman Ibrahim Sarhan said. “We are currently working on restructuring the group’s subsidiary structure. The proposed structure aims to streamline operations and optimize costs by merging complimentary product lines, eliminating redundant infrastructure, and leveraging existing synergies within the group, ultimately supporting sustainable, long-term growth,” he added.

ORIENTAL WEAVERS POSTS MIXED RESULTS-

Oriental Weavers saw its net income dip 38% y-o-y during the second quarter of the year to EGP 566 mn, according to its latest earnings release (pdf). Revenues for the quarter were up 7% y-o-y to EGP 6.2 bn. 1H 2025 results reflected the same trend, with revenues up 17% y-o-y to EGP 12.6 bn and net income down 24% y-o-y to EGP 1.1 bn.

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