{"id":554827,"date":"2021-11-15T14:04:45","date_gmt":"2021-11-15T14:04:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/15\/earnings-season-still-going-strong-ezz-steel-ode-amoc-prime-holding-rcc-and-b-investments-report-results\/"},"modified":"2021-11-15T14:04:45","modified_gmt":"2021-11-15T14:04:45","slug":"earnings-season-still-going-strong-ezz-steel-ode-amoc-prime-holding-rcc-and-b-investments-report-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/15\/earnings-season-still-going-strong-ezz-steel-ode-amoc-prime-holding-rcc-and-b-investments-report-results\/","title":{"rendered":"Earnings season still going strong: Ezz Steel, ODE, AMOC, Prime Holding, RCC, and B Investments report results"},"content":{"rendered":"

Ezz Steel posted a net income of EGP 1.4 <\/strong>b<\/strong>n in 3Q2021<\/strong>, after seeing a loss of EGP 1.3 bn in the third quarter of last year, according to the company\u2019s consolidated financials (pdf)<\/a>. Revenues also rose to EGP 18.6 bn in the third quarter, compared with EGP 8.6 bn in the same period a year before. The results see the company continue a profitmaking streak<\/a> that began in 1H2021, after being in the red for most of the previous decade.<\/p>\n

The company\u2019s outlook for this year and next is good so far for the company<\/strong>, as \u201cglobal steel consumption continues to increase annually,\u201d Ezz Steel said in its earnings disclosure to the LSE<\/a>. Domestic consumption is also expected to pick up next year, on the back of \u201cunrealized latent demand that resulted from the suspension of the issuance of building permits in 2020, and then the implementation of the new building regulations.\u201d<\/p>\n

Orascom Development Egypt (ODE) reported a 148% increase in its bottom line<\/strong> to hit EGP 468.8 mn in 3Q2021, according to the company\u2019s latest earnings release (pdf)<\/a>. ODE reported EGP 1.9 bn in revenues for the quarter, a 42% y-o-y increase.<\/p>\n

Alexandria Mineral Oils Company reverses losses: <\/strong>AMOC\u2019s bottom line climbed to EGP 229.7 mn in 3Q2021, up from a loss of EGP 32 mn during the same period last year, according to the company\u2019s quarterly financials (pdf)<\/a>. Net revenues were up 85% y-o-y to EGP 3.7 bn in the third quarter.<\/p>\n

Prime Holding\u2019s losses widened to EGP 12.9 mn in 3Q2021<\/strong>, from EGP 3.4 mn during the same period last year, according to their latest earnings report (pdf)<\/a>. The investment bank\u2019s consolidated revenues went up 5% y-o-y to EGP 26 mn.<\/p>\n

Raya Contact Center\u2019s bottom line was up 22% to EGP <\/strong>10.<\/strong>3 mn in 3Q2021<\/strong>, according to the company\u2019s latest financial results (pdf)<\/a>. Revenues also increased slightly, coming in at EGP 184.8 mn compared with EGP 179.5 mn in the same period in 2020.<\/p>\n

B Investments\u2019 net income plunged to EGP 418k in 3Q2021<\/strong>, down from EGP 30.6 mn in the same quarter last year, according to the company\u2019s quarterly income statement (pdf)<\/a>. Revenues fell to EGP 13.2 mn during the quarter, down from EGP 42.3 mn in 3Q2020.<\/p>\n

\n

MARKET ROUNDUP- <\/strong><\/p>\n

The EGX30 fell 1.4% at today\u2019s close<\/strong> on turnover of EGP 1.02 bn (31% below the 90-day average). Foreign investors were net sellers. The index is up 6.0% YTD.<\/p>\n

In the green: <\/strong>Rameda (+5.5%), CIRA (+1.5%) and Speed Medical (+0.8%).<\/p>\n

In the red: <\/strong>Fawry (-5.8%), Aspire Capital (-4.3%) and Palm Hills Development (-4.3%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Ezz Steel posted a net income of EGP 1.4 bn in 3Q2021, after seeing a loss of EGP 1.3 bn in the third quarter of last year, according to the company\u2019s consolidated financials (pdf). Revenues also rose to EGP 18.6 bn in the third quarter, compared with EGP 8.6 bn in the same period a […]<\/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":[1133,140,633,589,642,256,976,1879],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554827","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-amoc","tag-b-investments","tag-enterprisepm","tag-ezz-steel","tag-go-with-the-flow","tag-orascom-development-egypt","tag-prime-holding","tag-raya-contact-center","wpautop","entry"],"acf":{"mongo_id":"8d3cfe92-e5d9-4f59-801a-813956f7d914","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[554819],"teaser":"","voice_url":""},"yoast_head":"\nEarnings season still going strong: Ezz Steel, ODE, AMOC, Prime Holding, RCC, and B Investments report results - 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\/15\/earnings-season-still-going-strong-ezz-steel-ode-amoc-prime-holding-rcc-and-b-investments-report-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings season still going strong: Ezz Steel, ODE, AMOC, Prime Holding, RCC, and B Investments report results\" \/>\n<meta property=\"og:description\" content=\"Ezz Steel posted a net income of EGP 1.4 bn in 3Q2021, after seeing a loss of EGP 1.3 bn in the third quarter of last year, according to the company\u2019s consolidated financials (pdf). 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Revenues also rose 16% y-o-y to EGP 37.1 bn in FY2021.Ezz Steel\u2019s bottom line turned positive in FY2021 reaching EGP 5.4 bn, compared to a\u2026","rel":"","context":"In "GO WITH THE FLOW"","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":564113,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/","url_meta":{"origin":554827,"position":1},"title":"Rameda net income up 60% in 2Q2021","author":"enterpriseam admin","date":"9 August 2021","format":false,"excerpt":"EARNINGS WATCH- Tenth of Ramadan for Pharma Industries and Diagnostic Reagents\u2019 (Rameda) net income rose 60% to EGP 31.5 mn in 2Q2021, up from EGP 19.7 mn in the same period last year, according to the company\u2019s financials (pdf) released this morning. Revenues grew by 30% to EGP 267 mn\u2026","rel":"","context":"In "GO WITH THE FLOW"","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":551249,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/earnings-watch-ezz-steel-mopco\/","url_meta":{"origin":554827,"position":2},"title":"Earnings watch: Ezz Steel, Mopco","author":"enterpriseam admin","date":"5 June 2022","format":false,"excerpt":"EARNINGS WATCH- Ezz Steel\u2019s bottom line rose 2.4% y-o-y in 1Q2022 to reach EGP 1.22 bn, according to the company\u2019s financials (pdf). The metal producer saw its revenues increase 38.1% y-o-y to EGP 18.64 bn.Misr Fertilizers Production Company (Mopco)\u2019s bottom line rose 163.5% y-o-y in 1Q2022 to EGP 2.09 bn,\u2026","rel":"","context":"In "GO WITH THE FLOW"","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":566970,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/ezz-steel-losses-accelerate-on-extremely-adverse-market-conditions\/","url_meta":{"origin":554827,"position":3},"title":"Ezz Steel losses accelerate on \u201cextremely adverse\u201d market conditions","author":"enterpriseam admin","date":"8 January 2020","format":false,"excerpt":"EARNINGS WATCH- Ezz Steel 2019 losses accelerate in 3Q on \u201cextremely adverse\u201d market conditions: Ezz Steel reported a consolidated net loss of EGP 3.59 bn in the first three quarters of 2019, extending its EGP 2.47 bn loss in the first half of the year by more than EGP 1\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":551187,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/earnings-watch-telecom-egypt-orascom-financial-holding-b-investments-report-1q2022-results\/","url_meta":{"origin":554827,"position":4},"title":"Earnings watch: Telecom Egypt, Orascom Financial Holding, B Investments report 1Q2022 results","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"EARNINGS WATCH-Telecom Egypt\u2019s 1Q2022 net income declined 36% y-o-y to EGP 1.40 bn, according to the company\u2019s earnings release (pdf). The telecom company\u2019s normalized net income \u2014 which excludes Vodafone Egypt\u2019s one-offs, the effect of the rising FX rate, provisions, and impairments \u2014 came in at EGP 1.7 bn, staying\u2026","rel":"","context":"In "GO WITH THE FLOW"","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":566399,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/","url_meta":{"origin":554827,"position":5},"title":"Ezz Steel finally turns profitable (and in a big way) + Pioneers to soon finalize split","author":"enterpriseam admin","date":"16 June 2021","format":false,"excerpt":"EARNINGS WATCH- Ezz Steel reverses loss in 1Q2021: Ezz Steel reported a record consolidated profit of EGP 1.2 bn in the first quarter of the year, reversing an EGP 1.35 bn loss in the same quarter last year, according to financial statements (pdf) it released today. This came as revenues\u2026","rel":"","context":"In "GO WITH THE FLOW"","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\/554827","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=554827"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554827\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/554819"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=554827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=554827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=554827"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=554827"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=554827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}