Earnings season continues with strong top-line growth across sectors

The latest batch of results from EGX-listed companies is painting a broadly positive picture, although some pressure remains beneath the headline numbers. Companies across financial services, consumer goods, construction, and autos reported solid revenue growth, with several seeing sharp gains in volumes, lending, assets under management, or order backlogs. Profitability was more mixed, as higher financing costs, provisions, currency movements, and regional challenges weighed on earnings at some companies, while others continued to deliver strong bottom-line growth.

EFG Holding

EFG Holding’s revenues rose 7% y-o-y to EGP 6.5 bn in 2Q 2026, supported by continued growth at Bank NXT and EFG Finance, which helped offset a softer quarter at investment banking arm EFG Hermes, according to the company’s latest earnings release (pdf). Net income after tax and minority interest slipped 3% y-o-y to EGP 776 mn.

What weighed on the bottom line? Operating expenses, including provisions and expected credit losses, rose 11% y-o-y to EGP 4.5 bn on higher employee costs, growth at Bank NXT and Valu, and inflationary pressures. EFG Hermes was also hit by noncash losses within Holding and Treasury Activities, primarily due to the EGP’s appreciation against the USD. Excluding those losses in both periods, EFG Hermes’ net income rose 50% y-o-y to EGP 694 mn.

EFG Finance and Bank NXT kept growing: EFG Finance revenues rose 15% y-o-y to EGP 2.0 bn, while net income more than doubled to EGP 535 mn. Bank NXT revenues climbed 30% to EGP 2.1 bn, while net income rose 33% to EGP 788 mn. Group CEO Karim Awad also said EFG expects to introduce new businesses “in the near term” as it expands its product offering.

Orascom Construction

Orascom Construction’s net income attributable to shareholders rose 73.9% y-o-y to USD 61.9 mn in 2Q 2026 on an adjusted basis, as revenue climbed 36.2% to USD 1.51 bn and EBITDA increased 46.5% to USD 92.6 mn, according to the company’s latest earnings release (pdf). The comparison excludes a USD 22 mn non-operational gain recorded in 2Q 2025 related to legal cases in Qatar and Saudi Arabia. On a reported basis, net income rose around 7.5% y-o-y.

Growth came from both sides of the business: MEA revenue rose 19% y-o-y to USD 757.4 mn, while US revenue jumped 59.5% to USD 752.2 mn, driven by progress across transportation, power, water, and data center projects. Consolidated backlog, excluding BESIX, hit a record USD 10.9 bn at end-June, up 13.9% y-o-y, while new awards jumped 67% to USD 2.95 bn in 2Q, led by US data center projects.

1H earnings also grew: Revenue rose 52.3% y-o-y to nearly USD 3.0 bn, EBITDA increased 71.1% to USD 200.9 mn, and adjusted net income attributable to shareholders climbed 90% to USD 115.3 mn. Including the group’s 50% share in BESIX, pro forma backlog stood at USD 14.5 bn.

GB Corp

GB Corp’s revenues jumped 40.9% y-o-y to EGP 26.9 bn in 2Q 2026, while net income fell 21% to EGP 826.3 mn on higher finance costs and provisions, pressure from regional auto operations, FX losses, and a higher effective tax rate, according to an emailed statement. 1H revenues rose 35.2% y-o-y to EGP 48.5 bn, while net income fell 24.5% to EGP 1.26 bn.

GB Auto and GB Capital drove top-line growth in 2Q: GB Auto revenues rose 37.5% y-o-y to EGP 22.3 bn, with passenger car revenues up 33% to EGP 16.8 bn and commercial vehicles and construction equipment revenues more than doubling to EGP 2.9 bn. GB Capital revenues rose around 60% to EGP 4.6 bn, while net income after tax and minority interest fell 38.2% to EGP 317.2 mn.

New rules from the Central Bank of Egypt (CBE) could weigh on securitization: GB Corp said the central bank’s new regulatory framework could affect near-term securitization activity and funding costs at GB Capital, although it expects conditions to normalize as implementation becomes clearer. The CBE has been tightening banks’ exposure to securitization, requiring prior approval for banks participating in securitization transactions and imposing tighter rules on investments in corporate and securitization bonds.

CI Capital

CI Capital Holding’s net income after tax and minority interest rose 21% y-o-y to EGP 942 mn in 1H 2026, while revenues increased 11% to EGP 5.5 bn, according to the company’s earnings release (pdf). The group’s on-balance sheet lending portfolio expanded 33% y-o-y to EGP 31 bn.

Driving growth: Investment bank revenues rose 56% y-o-y to EGP 1.22 bn, with asset management revenues more than doubling to EGP 420 mn, while net income jumped 45% to EGP 258 mn. Combined AUM at CI Asset Management and CI Private Equity rose 89% to EGP 196.2 bn, while Corplease’s outstanding portfolio grew 35% to EGP 21.3 bn and CI Mortgage Finance’s portfolio expanded 58% to EGP 5.2 bn.

Raya Holding

Raya Holding’s revenues rose 22% y-o-y to EGP 33.8 bn in 1H 2026, while net income after minority interest fell 17.2% y-o-y to EGP 739 mn from EGP 892 mn, according to the company’s latest earnings release (pdf) and 1H 2025 results.

Raya Trade and Aman led the top-line growth: Raya Trade revenues jumped 52% y-o-y to EGP 14.8 bn, while Aman Holding’s revenues climbed 38% to EGP 5.4 bn. Growth extended across much of the portfolio, with Raya Customer Experience revenues up 29%, Raya FMCG up 41%, Raya Auto up 16%, Raya Smart Buildings up 31%, and Raya Electric up 37%.

Contact Financial

Contact Financial Holding’s net income fell 54% y-o-y to EGP 29 mn in 2Q 2026, while total operating income declined 8% to EGP 655 mn, according to the company’s latest earnings release (pdf). Profitability was impacted by an ongoing provisioning cycle and impairments on financial assets. In 1H, consolidated net income fell 22% y-o-y to EGP 95 mn, while total operating income rose 6% to EGP 1.3 bn.

Financing remained under pressure, while ins. had a stronger quarter: Financing operating income fell 16% y-o-y to EGP 513 mn in 2Q, while ins. revenue rose 34% to EGP 947 mn and net income increased to EGP 31 mn from EGP 8 mn a year earlier. Meanwhile, Contact’s proprietary AI engine is now processing around 68% of auto loan applications, while Contact Now processed more than EGP 1 bn in transactions in 1H.

Edita

Edita Food Industries’ net income rose 31.1% y-o-y to EGP 706.7 mn in 2Q 2026, as revenues climbed 30.5% to EGP 6.5 bn on higher volumes, healthy demand, and continued migration toward higher price points, according to the company’s latest earnings release (pdf). 1H net income jumped 63% y-o-y to EGP 1.5 bn, while revenues rose 32.5% to EGP 12.3 bn.

Volumes and exports supported growth: Packs sold increased 16.6% y-o-y to 1.1 bn in 2Q, while volumes by weight rose 23.9% to 44.5k tons, with cakes and bakery remaining key growth drivers. Net export sales rose 38.3% to EGP 623.8 mn during the quarter, while 1H exports climbed 52.3% to EGP 1.17 bn.

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