Earnings season is in full swing, with Orascom Construction, GB Corp, e-finance, Bonyan, Telecom Egypt, and Eastern Company reporting their earnings.

ORASCOM CONSTRUCTION DOUBLES NET INCOME-

Orascom Construction reported a net income of USD 50.6 mn in 3Q 2025, up 134.3% y-o-y, according to its latest earnings release (pdf). Revenues jumped 74.8% y-o-y to USD 1.5 bn, led by projects in transportation, power, water, data centers, and aviation.

Driving the growth: Revenue growth during the quarter was supported by robust activity in infrastructure and industrial projects, particularly in the MEA region, where revenues more than doubled to USD 873.2 mn. The company’s US operations also recorded solid growth, with revenues rising 33.8% y-o-y to USD 599.2 mn.

On a 9M basis, Orascom Construction reported a net income of USD 133.3 mn, up 53.2% y-o-y. Revenues increased 47.8% y-o-y to USD 3.4 bn during the nine-month period, supported by broad-based growth — MEA revenues nearly doubled to USD 2.0 bn, while US revenues grew 12.5% y-o-y to USD 1.4 bn. Growth was further supported by a 44.2% y-o-y rise in new awards to USD 3.7 bn and an 8.3% y-o-y increase in consolidated backlog to USD 8.6 bn.

What they said: “We continue to demonstrate our ability to navigate evolving markets and position ourselves in the right areas of growth. This approach has been defined by consistent execution, resilience, and agility, enabling us to strengthen our foundation for the future,” CEO Osama Bishai said.

GB CORP’S NET INCOME REMAINS UNCHANGED IN 3Q-

GB Corp reported a net income of EGP 750.5 mn in 3Q 2025, a slight 0.6% increase y-o-y, according to its latest earnings release (pdf). Revenues for the period rose 33.6% y-o-y to EGP 21.7 bn, supported by recovering market demand, easing inflationary pressures, and a more stable FX environment.

The quarter’s performance was driven by strong contributions from GB Auto and GB Capital. GB Auto recorded EGP 18.0 bn in revenues, up 25.1% y-o-y, supported by a rise in passenger car volumes, ongoing recovery in commercial vehicles, and robust demand in the light mobility segment. GB Capital posted EGP 3.9 bn in revenues, up 91.5% y-o-y, on the back of strong portfolio expansion across its lending businesses and improved market liquidity, although higher finance and SG&A costs weighed on the bottom line.

On a 9M basis, GB Corp reported a net income of EGP 2.4 bn, up 35.1% y-o-y. Revenues climbed 62.5% y-o-y to EGP 57.5 bn, reflecting broad-based growth across Auto and Capital. GB Auto’s top line rose 57.9% y-o-y to EGP 48.6 bn, fueled by a 68.2% jump in passenger car revenues and a 43.6% rise in commercial vehicle and construction equipment sales. GB Capital’s revenues almost doubled to EGP 9.5 bn, with its loan portfolio expanding 65.5% y-o-y to EGP 20.9 bn.

What they said: “As we enter the final quarter of the year, we remain confident in GB Corp’s ability to sustain its growth trajectory. The combination of declining interest rates, stable FX markets, and improving purchasing power provides a solid foundation for further expansion. With tourism recovery adding momentum to domestic demand and new localization initiatives coming online, we are well positioned to capture emerging opportunities and continue delivering sustainable value to our shareholders,” CEO Nader Ghabbour said.

E-FINANCE NET INCOME, REVENUES JUMP IN 3Q-

E-finance reported an adjusted net income of EGP 731.6 mn in 3Q 2025, up 16% y-o-y, according to its latest earnings release (pdf). Revenues rose 49.7% y-o-y to EGP 1.7 bn, supported by strong growth across most subsidiaries — especially e-finance Digital Operations, eAswaaq, and enable.

Growth in 3Q was led by e-finance Digital Operations, which saw a 38% y-o-y increase in revenues on the back of higher demand for its cloud hosting and transaction services. eAswaaq’s revenues nearly tripled thanks to rising e-commerce activity and new lending operations, while Enable recorded 50.2% y-o-y growth on stronger outsourcing business. eNovate was the only segment to record a dip in revenues, due to weaker card production volumes.

On a 9M basis, e-finance reported an adjusted net income of EGP 1.8 bn, up 31.3% y-o-y. Revenues rose 44.2% y-o-y to EGP 5.0 bn, driven by broad-based growth across all subsidiaries. The group’s core subsidiary, e-finance Digital Operations, remained the main revenue driver, contributing 86% of total revenues in 9M 2025. eAswaaq continued to expand rapidly, with revenues growing 75.5% y-o-y.

BONYAN POSTS STRONG 3Q 2025 RESULTS-

Real estate investment company Bonyan saw its net income jump 207% y-o-y in 3Q 2025 to EGP 779 mn, supported by substantial gains in fair market value following the delivery and recognition of its Golden Gate asset, according to its latest earnings release (pdf). Rental revenues — the backbone of the company’s recurring income model — rose 27% y-o-y to EGP 202 mn, driven by the rerating of expired contracts and the commencement of rent from the Park Street West unit.

GAV continues to rise outpacing inflation: Gross asset value (GAV) increased 9% YTD to EGP 17.4 bn as of September 2025, reflecting the fair market value addition from the Golden Gate building, now officially recognized on Bonyan’s balance sheet.

On a nine-month basis: Net income in 9M 2025 came in at EGP 1.8 bn, edging up 1% y-o-y, while rental revenues rose 32% y-o-y to EGP 547 mn.

TELECOM EGYPT SEES EARNINGS SURGE IN 3Q-

Telecom Egypt saw its net income jump 3x y-o-y in 3Q 2025 to EGP 6.5 bn, according to its latest earnings release(pdf). Revenues rose 35% y-o-y to EGP 27.6 bn, driven by a 38% rise in retail revenues and a 32% increase in wholesale revenues, supported by higher data usage, sustained retail demand, and stronger international incoming call activity.

A strong 9M performance: Net income for the first nine months of 2025 rose 96.5% y-o-y to almost EGP 17 bn, while revenue grew 34.2% y-o-y to EGP 78.1 bn, with retail remaining the largest contributor at 58% of total revenues. Growth was supported by higher ARPUs following last year’s price adjustments, expanding customer base across fixed and mobile, and strong data consumption.

EASTERN COMPANY REPORTS RECORD NET INCOME-

Eastern Company reported its highest ever net income of EGP 9.7 bn last fiscal year, marking a strong operational performance and continued growth momentum, according to a company statement (pdf). Revenues also surged 82.9% y-o-y to EGP 37.4 bn, driven by expanded commercial operations and improved production and distribution.

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