There’s little doubt that earnings season is in full swing, with a wave of new earnings releases since our last issue of EnterpriseAM. In the issue today are earnings from EFG Holding, Fawry, Palm Hills, Juhayna, GB Corp, and Telecom Egypt.

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

EFG HOLDING’S REVENUES JUMP 21% IN 2Q 2025-

Our friends at EFG Holding saw another good quarter this year, with the group’s topline jumping 21% y-o-y to EGP 6.1 bn in 2Q 2025, while net income inched up 2% y-o-y to EGP 802 mn, according to the company’s latest earnings release (pdf). Revenue growth outpaced cost increases, with net operating profit rising 19% y-o-y and income before tax up 21% y-o-y, despite total operating expenses climbing 22% to EGP 4.1 bn.

The breakdown:

  • EFG Hermes: Revenues at the group’s investment bank were flat y-o-y at EGP 2.7 bn, as a strong rebound in holding and treasury activities, a rise in brokerage revenues, and buy side activities — up collectively 131% y-o-y — helped offset “a sharp decline in investment banking revenues due to a high base in 2Q 24.” Net income after tax and minority interest fell 11% y-o-y to EGP 268 mn.
  • EFG Finance: EFG Holding’s NBFI arm saw its revenues surge 66% y-o-y to EGP 1.8 bn — led by a 71% y-o-y jump in recently listed Valu ’s topline — on securitization gains and higher fees, alongside strong growth at Tanmeyah and Corp Solutions. EFG Finance’s operating expenses rose 82% y-o-y to EGP 1.2 bn on inflation-driven higher expenses, higher provisions, and one-off listing costs, pulling net income after tax interest down 14% y-o-y to EGP 230 mn.
  • Bank NXT: The group’s commercial bank saw its topline grow by 30% y-o-y to EGP 1.6 bn on higher net interest income and interest-earning assets. Operating expenses rose 23% y-o-y to EGP 694 mn, partly offset by a 27% drop in provisions AND ECL. Net income for the lender after tax increased 39% y-o-y to EGP 594 mn, with EFG Holding’s share standing at EGP 304 mn.

On a 1H basis, a strong period the year before and previous FX gains brought revenues down 14% y-o-y to EGP 11.7 bn, which the release says “reflects a normalization relative to the exceptionally strong comparable period that included strong FX gains and unrealized gains on investments/seed capital, due to the significant EGP devaluation in March 2024.” Net income was down 23% y-o-y during the same period to EGP 2.0 bn. However, excluding FX gains, EFG Holding’s revenues are up 29% y-o-y.

What they said: “Our second quarter results demonstrate the continued resilience and strength with which EFG Holding operates, supported by its diversified platform and strong geographic footprint,” Group CEO Karim Awad said in an accompanying statement(pdf). “The period’s financial results highlight the standout performance of EFG Finance, driven by Valu and Bank NXT.”

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

EGX-listed fintech giant Fawry saw its net income after minority interest jump 102.6% y-o-y in 2Q 2025 to EGP 651.6 mn, according to the company’s latest earnings release(pdf). Revenues rose 62.6% y-o-y during the quarter to EGP 2.0 bn, driven by strong performances across all of its business segments.

Its financial services segment more than doubled its revenues, jumping 176.3% y-o-y to EGP 562.3 mn, and contributed nearly half of the quarter’s total revenue growth. Banking services revenues climbed 54.3% y-o-y to EGP 733.4 mn, fueled by a 73.0% rise in acceptance and a 33.9% increase in agent banking . The alternative digital payments segment recorded revenues of EGP 505.7 mn, up 23.3% y-o-y, while supply chain solutions revenues rose 41.5% y-o-y to EGP 119.5 mn.

In 1H 2025, Fawry’s revenues rose 63.8% y-o-y to EGP 3.8 bn, while net income after minority interest almost doubled, rising 99.9% y-o-y to EGP 1.3 bn. The company’s loan portfolio grew 121% y-o-y to EGP 3.9 bn, while value rose 57.6% y-o-y to EGP 385.9 bn.

What they said: “Fawry has continued its upward trajectory, achieving substantial operational and financial growth, and making significant progress on our long-term value creation and revenue diversification,” CEO Ashraf Sabry said.

Looking ahead: Management plans to further expand neobanking and BNPL offerings, monetize technology platforms, and leverage AI for personalized customer experiences, credit scoring, and fraud detection. The company also expects its recently acquired Islamic financing license to help grow Sharia-compliant lending products.

JUHAYNA REPORTS RECORD REVENUES IN 2Q 2025-

Dairy giant Juhayna posted record-high revenues of EGP 7.4 bn in 2Q 2025, up 22% y-o-y, driven by strong local sales and robust exports of finished goods, according to its latest earnings release(pdf). Net income for the same period fell 52% y-o-y to EGP 481.5 mn during the quarter, reflecting the anticipated normalization of concentrate prices from last year’s exceptional highs and higher interest expenses tied to ongoing CAPEX commitments.

Dairy revenues rose 39% y-o-y in the quarter to EGP 3.6 bn, fermented products were up 37% to EGP 1.6 bn, and juice revenues grew 29% to EGP 1.5 bn. Concentrates and agri revenues fell 45% y-o-y to EGP 568 mn on weaker global concentrate prices.

On a 1H basis, Revenues rose 23% y-o-y to EGP 14.2 bn, fueled by double-digit volume growth across dairy, fermented, and juice segments alongside single-digit price adjustments. Net income came in at EGP 1.1 bn, down 24% y-o-y. The company’s exports reached EGP 1.3 bn in the six-month period, with finished product export sales in USD terms up 47% y-o-y, helping cushion lower concentrate revenues.

GB CORP REVENUES, INCOME SURGE IN 2Q 2025-

GB Corp’s revenues jumped 87.6% y-o-y to EGP 19.1 bn in 2Q 2025, according to its latestearnings release (pdf). The group’s net income rose 148.0% y-o-y during the same period to EGP 1.0 bn.

GB Auto’s revenues helped drive growth overall, rising 84.3% y-o-y in the quarter to EGP 16.2 bn, with net income more than doubling to EGP 531.3 mn, driven by stronger performance and sales across all its business segments. GB Capital’s revenues — before intercompany eliminations — increased 116.4% y-o-y to EGP 3.1 bn, while net income rose 195.6% y-o-y to EGP 512.9 mn, driven by “improved macroeconomic conditions and further supported by the continued expansion of the company’s portfolio of alternative financing solutions.” The NBFS arm’s loan portfolio reached EGP 17.9 bn, up 70.1% y-o-y, with a non-performing loan ratio of 1.9%.

In the first half of 2025, revenues rose 86.9% y-o-y to EGP 35.9 bn, while net income was up 59.6% y-o-y to EGP 1.7 bn, “driven by solid growth across both the auto and capital segments.” GB Auto brought in EGP 30.7 bn in revenues, up 86.5% y-o-y, and GB Capital’s revenues rose 93.4% y-o-y to EGP 5.6 bn.

What they said: “The first half of 2025 was a period of significant progress for GB Corp as we delivered strong revenue and earnings growth, while advancing key strategic priorities across our auto and capital segments,” CEO Nader Ghabbour said. “Looking ahead, we see strong demand fundamentals supported by lower interest rates, stable FX markets, and improved consumer sentiment.”

TELECOM EGYPT’S TOP AND BOTTOM LINES ROSE IN 2Q-

Telecom Egypt’s net income jumped 123% y-o-y in 2Q 2025 to EGP 5.9 bn, according to its latest earnings release(pdf). The company’s top line rose 26% y-o-y to EGP 25.8 bn during the quarter, driven by a 38% y-o-y rise in retail revenues, a 12% increase in wholesale revenues fueled by a 33% rise in international incoming calls.

An even better 1H 2025: Net income for the six month period grew 61% to EGP 10.5 bn. Revenues for the period rose 33% y-o-y to EGP 50.6 bn, led by a 47% surge in data revenue and a 50% rise in international incoming calls.

What they said:“Looking ahead, we will continue investing in our robust network infrastructure while maintaining a focus on financial and operational excellence. Our priorities remain to strengthen our core business, drive sustainable profitability, and create long-term value for our shareholders,” said CEO Mohamed Nasr.

PALM HILLS’ NET INCOME UP 29% IN 2Q-

Palm Hills Developments’ revenues rose 52.6% y-o-y to EGP 7.2 bn in 2Q 2025, according to its latest earnings release (pdf). The developer’s net income increased 28.8% y-o-y to EGP 903 mn during the same period.

On a 1H basis, revenues for 1H 2025 increased 42.2% y-o-y to EGP 15.6 bn, while net income after tax and minority interest rose 43% to EGP 2.4 bn. Supporting the increase in the company’s top and bottom lines were a 118.0% y-o-y increase in new sales — which it says came from demand for its existing inventory — and backlog recognition.

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