{"id":554808,"date":"2021-11-14T13:38:37","date_gmt":"2021-11-14T13:38:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/14\/earnings-season-is-in-full-swing\/"},"modified":"2021-11-14T13:38:37","modified_gmt":"2021-11-14T13:38:37","slug":"earnings-season-is-in-full-swing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/14\/earnings-season-is-in-full-swing\/","title":{"rendered":"Earnings season is in full swing"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Abu Qir Fertilizers reported an 88% y-o-y increase in its bottom line to EGP 1.3 bn<\/strong><strong> in 1Q2021-2022<\/strong>, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/Abu-Qir-Fertilizers-Q32022.pdf\">quarterly financials (pdf)<\/a>. The company\u2019s top line grew 52% y-o-y to EGP 2.7 bn during the first quarter of its fiscal year, which begins in July. Abu Qir Fertilizers attributed the sharp growth to surging global demand for fertilizers and hikes in chemical prices.<\/p>\n<p><strong>Real estate developer Amer Group reversed its losses in 3Q2021<\/strong>, posting a bottom line of EGP 11.9 mn, compared with losses of EGP 17.6 mn in the same quarter a year before, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/AMER-Group-3Q2021.pdf\">quarterly financials (pdf)<\/a>. Amer Group posted a 75% y-o-y increase in its third-quarter revenues to EGP 363.3 mn.<\/p>\n<p><strong>Abu Dhabi Islamic Bank\u2019s net income rose 23% y-o-y in 3Q2021 to EGP 1 bn<\/strong>, according to the bank\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/ADIB-3Q2021.pdf\">financials (pdf)<\/a>. The bank\u2019s net interest income rose 9% y-o-y to EGP 2.6 mn in 3Q2021.<\/p>\n<p><strong>Oriental Weavers\u2019 bottom line fell 14.9% y-o-y to EGP 290 mn in 3Q2021<\/strong>, according to the company\u2019s latest <a href=\"https:\/\/ent.news\/2021\/11\/Oriental-Weavers-earnings-report-141121.pdf\">financials (pdf)<\/a>. The company reported revenues of EGP 2.7 bn in 3Q2021, down 6.9% y-o-y.<\/p>\n<p><strong>Talaat Moustafa Group reported net earnings after tax of EGP 1.7 bn in 9M2021<\/strong>, up 8% y-o-y, according to its quarterly <a href=\"https:\/\/ent.news\/2021\/11\/Talaat_Mostafa_earnings-report-141121.pdf\">financials (pdf)<\/a>. The group reported a 9% y-o-y increase in net revenues to EGP 11.3 bn.<\/p>\n<p><strong>Alexandria New Medical Center\u2019s net income dipped 31.5% y-o-y in 3Q2021,<\/strong><strong> clocking in at EGP 7.4 mn<\/strong>, according to its <a href=\"https:\/\/ent.news\/2021\/11\/Alex-New-Medical-Center-Q32022.pdf\">quarterly financials (pdf)<\/a>. The company\u2019s revenues grew 12% y-o-y to EGP 67.6 mn. This comes as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad19be3f-8f1a-494f-933b-2462e348c032\">bidding war<\/a> for its parent company Alex Medical begins to cool off, with TAT Medical Services pulling out soon after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9a165d3-7d1b-4ace-8b1f-2393f9e7d989\">Speed Medical<\/a> also pulled its offer.<\/p>\n<p><strong>Arabia Investments Holding (AIH) saw its net income fall 51.2% y-o-y to EGP 15.2 mn in <\/strong><strong>3Q2021.<\/strong> AIH\u2019s revenues also fell 34% y-o-y to EGP 420 mn during the quarter, according to their latest <a href=\"https:\/\/ent.news\/2021\/11\/Arabia-Investments-Holding.pdf\">financials (pdf)<\/a>.<\/p>\n<p><strong>Arab Dairy\u2019s losses widened in 3Q2021 to EGP 15 mn<\/strong> from EGP 8.4 mn in losses during the same period last year, according to the Panda cheese manufacturer\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/Arab-Dairy.pdf\">quarterly financials (pdf)<\/a>. Sales fell 9.5% y-o-y to EGP 287 mn during 3Q2021.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 rose 0.8% at today\u2019s close<\/strong> on turnover of EGP 938 mn (36.7% below the 90-day average). Foreign investors were net sellers. The index is up 7.5% YTD.<\/p>\n<p><strong>In the green: <\/strong>Abou Kir Fertilizers (+5.8%), Speed Medical (+5.1%) and Oriental Weavers (+2.2%).<\/p>\n<p><strong>In the red: <\/strong>Ezz Steel (-6.5%), GB Auto (-2.8%) and AMOC (-2.8%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abu Qir Fertilizers reported an 88% y-o-y increase in its bottom line to EGP 1.3 bn in 1Q2021-2022, according to the company\u2019s quarterly financials (pdf). The company\u2019s top line grew 52% y-o-y to EGP 2.7 bn during the first quarter of its fiscal year, which begins in July. Abu Qir Fertilizers attributed the sharp growth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7219],"tags":[469,548,832,68,633,642],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554808","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-abu-dhabi-islamic-bank","tag-abu-qir-fertilizers","tag-amer-group","tag-egx","tag-enterprisepm","tag-go-with-the-flow","wpautop","entry"],"acf":{"mongo_id":"ac59f432-7e79-4724-96cc-36b255e2f052","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[554800],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Earnings season is in full swing - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/14\/earnings-season-is-in-full-swing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings season is in full swing\" \/>\n<meta property=\"og:description\" content=\"Abu Qir Fertilizers reported an 88% y-o-y increase in its bottom line to EGP 1.3 bn in 1Q2021-2022, according to the company\u2019s quarterly financials (pdf). 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This comes on the back of increased sales during the quarter, recording a 155.5% y-o-y increase to EGP 5.80 bn.Domty achieved a bottom line of\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":551904,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/earnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results\/","url_meta":{"origin":554808,"position":1},"title":"Earnings watch: Abu Qir Fertilizers reports FY 2021-2022 results","author":"enterpriseam admin","date":"28 July 2022","format":false,"excerpt":"EARNINGS WATCH-Abu Qir Fertilizers saw a 157.5% y-o-y increase in its net income after tax to EGP 9.05 bn in FY 2021-2022, according to the company\u2019s financials (pdf). The company\u2019s top line grew 84.8% y-o-y to EGP 16.33 bn during the fiscal year. MARKET ROUNDUP-The EGX30 rose 0.9% at today\u2019s\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587677,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/earnings-watch-telecom-egypt-mm-group-housing-and-development-bank-raya-holding-eastern-company-and-abu-qir-fertilizers-report-results\/","url_meta":{"origin":554808,"position":2},"title":"Earnings watch: Telecom Egypt, MM Group, Housing and Development Bank, Raya Holding, Eastern Company, and Abu Qir Fertilizers report results","author":"enterpriseam admin","date":"30 May 2023","format":false,"excerpt":"EARNINGS WATCH- Telecom Egypt reported EGP 4.1 bn in normalized net income in 1Q 2023, rising 144% y-o-y, according to its earnings release (pdf). The company\u2019s revenues climbed 48% y-o-y to EGP 14 bn during the quarter.MM Group for Industry and International Trade\u2019s net income rose 201.7% y-o-y to EGP\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":583214,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/13\/what-the-markets-are-doing-on-13-february-2023\/","url_meta":{"origin":554808,"position":3},"title":"What the markets are doing on 13 February, 2023","author":"enterpriseam admin","date":"13 February 2023","format":false,"excerpt":"MARKET WATCH-Abu Qir Fertilizers and Chemicals Industries Company\u2019s net income rose 132.9% y-o-y to EGP 4.5 bn in 4Q 2022, according to the company\u2019s financials (pdf). The company\u2019s revenues for the quarter increased 79.4% y-o-y to EGP 6.4 bn.MARKET ROUNDUP-The EGX30 fell 0.4% at today\u2019s close on turnover of EGP\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544159,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/14\/abu-qir-fertilizers-bottomline-rises-137-7-y-o-y-during-2q2021-2022\/","url_meta":{"origin":554808,"position":4},"title":"Abu Qir Fertilizers\u2019 bottomline rises 137.7% y-o-y during 2Q2021-2022","author":"enterpriseam admin","date":"14 February 2022","format":false,"excerpt":"EARNINGS WATCH- Abu Qir Fertilizers\u2019 bottomline rose 137.7% y-o-y during 2Q2021-2022 to EGP 1.9 bn, according to the company\u2019s financial statement (pdf). The company\u2019s revenues recorded EGP 3.6 bn during the quarter, up 56.5% y-o-y. MARKET ROUNDUP- The EGX30 fell 0.3% at today\u2019s close on turnover of EGP 663 mn\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":579693,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/","url_meta":{"origin":554808,"position":5},"title":"It\u2019s earnings season: Credit Agricole, ADIB, Telecom Egypt, Abu Qir, AMOC, TMG","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"EARNINGS WATCH-Credit Agricole Egypt\u2019s net income after tax rose 37.4% y-o-y in 9M 2022 to EGP 1.6 bn, according to its financial statement(pdf). The bank\u2019s net interest income rose 15% y-o-y to EGP 4.4 bn during the period.Abu Dhabi Islamic Bank Egypt\u2019s (ADIB) net income rose 49% to EGP 1.5\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=554808"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554808\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/554800"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=554808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=554808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=554808"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=554808"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=554808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}