More earnings come in: Raya Holding and Egypt Kuwait Holding are both out with their 2Q earnings.

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

RAYA HOLDING’S INCOME, REVENUES UP IN 2Q-

Raya Holding saw its net income before minority interest climb 52.1% y-o-y to EGP 584 mn in 2Q 2025, with revenue rising 54.0% y-o-y to reach EGP 14.9 bn in the same period, according to the company’s latest earnings release (pdf). The company attributed the growth to an improved product mix, portfolio expansion, and contributions from export-oriented revenues.

On a 1H basis, the group’s net income before minority interest rose to EGP 972 mn, up 27.5% y-o-y, while its revenue rose 38.3% y-o-y to EGP 27.8 bn. The growth was driven by “the continued momentum of the group’s four largest contributors,” the company said.

The breakdown: Raya Trade and Distribution was the largest contributor to group revenues in 1H 2025, accounting for 35.0% of the total. The subsidiary brought EGP 9.7 bn in revenue, up 18.5% y-o-y, supported by mobile distribution, retail, and its Nigerian operations. Raya IT came second with 29.1% of revenues, raking in EGP 8.1 bn, up 74.6% y-o-y, on the back of strong regional demand and higher-margin managed services. The group’s NBFS arm Aman was the third-largest contributor, bringing in 14.0% of revenues with EGP 3.9 bn, up 51.3% y-o-y.

EKH’S NET INCOME MORE THAN DOUBLES IN 2Q 2025-

Egypt Kuwait Holding (EKH) saw its attributable net income increase 105% y-o-y to USD 56.3 mn in 2Q 2025, according to its latest earningsrelease(pdf). The company’s top line was up 75% y-o-y at USD 215.0 mn, supported by strong operational performance across its portfolio and gains from its ongoing portfolio optimization efforts.

On a 1H basis, EKH posted USD 397 mn in revenues, up 32% y-o-y, supported by solid proceeds across the company’s portfolio. The company’s attributable net income inched up 0.3% to USD 90.4 mn on the back of a one-off FX gain of nearly USD 50 mn booked in 1H 2024, the release showed. Excluding that FX windfall, EKH’s bottom line would have more than doubled y-o-y in 1H 2025.

The breakdown: Fertilizer arm AlexFert contributed the lion’s share of total revenues with a 30% share in the first six months of the year. The subsidiary’s revenue increased 11% y-o-y to USD 118 mn in 1H 2025 on the back of stronger export urea prices. Petrochemical subsidiary Sprea Misr recorded USD 89.6 mn in revenue, rising 21% y-o-y and contributing 23% of total revenues, driven by higher sales volumes and export growth. NatEnergy saw its revenue increase 15% y-o-y to USD 33.6 mn, Kahraba’s revenues rose 10% to USD 27.9 mn, and ONS clocked in a 9% y-o-y increase to USD 31.2 mn.

A rebrand is upon us? “We remain on track with our corporate identity transformation, with the board having resolved to call for a General Assembly meeting to vote on changing the company’s name to “Valmore Holding.” This new identity builds on the success we have achieved as Egypt Kuwait Holding, while aligning our positioning with our future growth plans and international expansion strategy. It reflects our ambition to transform EKH from a leading regional investment platform into a world-class global investment company,” Chairman Loay Al Kharafi said.

Tags: