Orascom Investment Holding swings deeper into the red despite a 4x revenue surge

EGX-listed Orascom Investment Holding swung deeper into the red, with its consolidated net loss widening 13.8% y-o-y to EGP 518.4 mn in 2025, according to the company’s consolidated financial statement (pdf). This came even as operating revenues jumped nearly fourfold to EGP 1.4 bn.

The topline jump was largely driven by the company’s acquisition of Misr for Entertainment Investments, which added EGP 943.5 mn in restaurant and hospitality revenue from the Pyramids Plateau area. Meanwhile, non-controlling interests provided a slight cushion, posting a gain of EGP 15.4 mn in 2025 up from a loss a year earlier, while net foreign exchange translation gains rose to EGP 34.5 mn from EGP 14.9 mn a year earlier.

What led to the decline: A spike in financing costs, combined with a severe drop in treasury yields, was the primary driver behind the widening deficit. Consolidated finance costs rose 88.6% y-o-y to EGP 592.2 mn, while finance income plummeted 68.1% y-o-y to EGP 339.7 mn.

TMG’s North Coast play pays off

Talaat Moustafa Group (TMG) posted EGP 219.1 bn in sales for 1H 2026, up 3.8% y-o-y, according to the company’s latest market sales update (pdf). The second quarter brought in a record EGP 170 bn, a 27.8% jump from the EGP 133 bn recorded during the same period last year, on the back of continued demand across its integrated and mixed-use developments in Egypt, Saudi Arabia, and Oman.

Progress on projects: The firm’s coastal development SouthMed brought in roughly EGP 94 bn in 1H sales — about 43% of total group sales, by our math — with EGP 87 bn of it attributed to 2Q alone. Launched last May, its mixed-use city in New Cairo — called The Spine — also notched around EGP 34 bn in sales, while its Saudi project Benan City added EGP 6.8 bn, bringing cumulative sales since its May 2024 launch to EGP 101 bn.