TMG posts 21% jump in net income in 2Q

Earnings season continues, with TMG, Orascom Development Egypt, E-finance, El Sewedy Electric, Fawry, EgyptAlum, and Oriental Weavers among the latest companies to report their results.

TMG

Talaat Moustafa Group (TMG) reported a 21% y-o-y increase in net income to EGP 4.5 bn in 2Q 2026, according to its latest earnings release (pdf). Revenues surged 14% y-o-y over the same period to EGP 17.1 bn on the back of continued construction progress and the delivery of some 1.5k units across the Group’s developments, namely Madinaty and Celia.

In 1H, the real estate giant’s bottom line climbed 23% y-o-y to reach EGP 9.9 bn. The top line for the period rose 24% y-o-y to EGP 30.2 bn, with real estate contributing EGP 17 bn in revenues. Robust demand across SouthMed, The Spine, and the broader development portfolio drove the Group's total contracted sales to EGP 219.1 bn in 1H.

Orascom Development

Orascom Development Egypt’s net income rose 26.1% y-o-y to EGP 1.33 bn in 2Q 2026, while its revenue jumped 64.3% to EGP 8.36 bn, according to the company’s latest earnings release (pdf). Real estate sales increased 7.1% y-o-y to EGP 8.1 bn during the quarter. Real estate revenue more than doubled to EGP 5.47 bn in 2Q, up from EGP 2.63 bn a year earlier.

The first half saw more moderate bottom-line growth: Net income increased 4.5% y-o-y to EGP 3.17 bn in 1H 2026, while revenue rose 28.5% to EGP 14.82 bn and real estate sales climbed 30% to EGP 15.1 bn. The company said the headline figures were weighed down by a lower contribution from land sales, which fell to EGP 350 mn from EGP 1.55 bn a year earlier. Excluding land sales, net income would have risen 57.5% y-o-y to EGP 2.93 bn, while revenue would have climbed 45% to EGP 14.47 bn.

E-finance

E-finance’s adjusted net income attributable to shareholders jumped 78.3% y-o-y to EGP 1.14 bn in 2Q 2026, while its revenue rose 19.7% to EGP 1.93 bn, according to the company’s latest earnings release (pdf). Adjusted net income adds back noncash employee stock ownership plan expenses, the company noted. Cloud revenue remained the fastest-growing major business line, rising 27.2% y-o-y to EGP 693.4 mn during the quarter.

In 1H 2026, adjusted net income attributable to shareholders rose 65.6% y-o-y to EGP 2.1 bn, while revenue increased 29.3% to EGP 4.18 bn. Cloud services revenue grew 31.9% y-o-y to EGP 1.52 bn, while build and operate revenues climbed 33.3% to EGP 717.7 mn, and transaction revenue increased 22.6% to EGP 1.6 bn.

El Sewedy Electric

El Sewedy Electric saw its net income rise 11.6% y-o-y to EGP 5.1 bn in 2Q 2026, while its revenues rose 36.7% to EGP 88 bn, according to the company’s latest earnings release (pdf). Totaling 58% of total revenues, wires, cables, and accessories remained the primary revenue driver, contributing EGP 51.1 bn on the back of 35.1% y-o-y growth.

In 1H 2026, the firm’s bottom line surged 14.1% y-o-y to EGP 9.9 bn, while revenue increased around 32% to EGP 163 bn.

Bonyan

Real estate investment company Bonyan saw a 26% y-o-y drop in net income in 2Q 2026 to EGP 449 mn, according to its latest earnings release (pdf). Management attributed this to slower fair value gains as the appreciation of assets was stymied by inflation. Sales for the period rose 39% y-o-y to EGP 29 mn, boosted by the sale of a unit in Walk of Cairo. Revenues from rent totaled EGP 206 mn in the quarter, rising 15% y-o-y.

In 1H, the company recorded a net income of EGP 1 bn in 1H 2026, barely changing y-o-y. The company saw its sales revenues rise 490% y-o-y to around EGP 203 mn for the same period, coinciding with a 17% y-o-y increase in rental revenues to EGP 402 mn amid lease renewals and contractual escalations.

Fawry

EGX-listed fintech giant Fawry saw its net income climb 33.6% y-o-y to EGP 871 mn in 2Q 2026, according to an earnings release (pdf). Its top line surged 42.7% y-o-y to EGP 2.8 bn, with banking services being the primary growth engine, contributing EGP 1.1 bn in gains, followed by financial services.

In 1H, Fawry’s bottom line rose around 29% y-o-y to EGP 1.6 bn. Its top line rose 39% y-o-y to EGP 5.2 bn, with throughput value rising 52.1% y-o-y to EGP 587 bn.

EgyptAlum

State-owned Aluminum Company of Egypt (EgyptAlum) saw its bottom line climb 52% y-o-y to EGP 15.49 bn in FY 2025/26, up from EGP 10.19 bn a year earlier, it said in an EGX disclosure (pdf). Revenue rose 23% y-o-y to EGP 53.14 bn. Earnings per share followed the bottom line higher, climbing to EGP 37.55 from EGP 24.69.

Oriental Weavers

Oriental Weavers reported record quarterly earnings in 2Q 2026, with net income nearly doubling y-o-y to EGP 1.1 bn, despite what the company described as strong headwinds, according to results (pdf) emailed to EnterpriseAM. Revenue rose 13% y-o-y to EGP 7 bn. The strong quarter pushed 1H earnings sharply higher, with net income climbing 83% y-o-y to EGP 1.9 bn and revenue increasing 11% to EGP 13.9 bn.

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