{"id":557239,"date":"2021-09-12T04:00:26","date_gmt":"2021-09-12T04:00:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/qalaa-losses-ease-in-2q2021-on-stronger-revenues\/"},"modified":"2021-09-12T04:00:26","modified_gmt":"2021-09-12T04:00:26","slug":"qalaa-losses-ease-in-2q2021-on-stronger-revenues","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/qalaa-losses-ease-in-2q2021-on-stronger-revenues\/","title":{"rendered":"Qalaa losses ease in 2Q2021 on stronger revenues"},"content":{"rendered":"

Qalaa Holdings\u2019 losses eased to EGP 401.5 mn in 2Q2021<\/strong> from EGP 712.1 mn in the same period last year, according to the company\u2019s earnings release (pdf)<\/a>. Revenues were up 37% y-o-y to hit EGP 10.2 bn in the April-June period, extending pandemic-era growth that saw the company\u2019s top line almost double y-o-y in 2Q2020<\/a> to hit EGP 7.4 bn. The company saw a smaller net loss ofEGP 224.5 mn<\/a> in 2Q2019, before the pandemic hit.<\/p>\n

The improved result came as Qalaa companies recorded growth in revenues across the board,<\/strong> including the Egyptian Refining Company (ERC), which saw a 52% y-o-y increase in revenue despite a 22-day halt for scheduled maintenance. \u201cDespite the lingering impact of covid-19 across our markets, our platforms were able to capitalize on slowly improving market conditions and a gradually easing trade environment,\u201d said Qalaa chairman and founder Ahmed Heikal.<\/p>\n

Heikal said that the revenue growth was largely driven by \u201csolid performances\u201d<\/strong> from Qalaa companies including Taqa Arabia, which capitalized on demand for natural gas to grow its revenue by 27% y-o-y. National Printing and ASCOM saw exports increase as international trade picked up and port restrictions eased.<\/p>\n","protected":false},"excerpt":{"rendered":"

Qalaa Holdings\u2019 losses eased to EGP 401.5 mn in 2Q2021 from EGP 712.1 mn in the same period last year, according to the company\u2019s earnings release (pdf). Revenues were up 37% y-o-y to hit EGP 10.2 bn in the April-June period, extending pandemic-era growth that saw the company\u2019s top line almost double y-o-y in 2Q2020 […]<\/p>\n","protected":false},"author":1,"featured_media":557240,"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":[7208],"tags":[3429,1805,409,2391,72,613,615],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-2q2021-earnings","tag-ahmed-heikal","tag-earnings-watch","tag-egyptian-refining-company","tag-enterpriseam","tag-qalaa-holdings","tag-taqa-arabia","wpautop","entry"],"acf":{"mongo_id":"a498cdac-7f57-4031-af6e-0af3de6323bf","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/146.jpg","photo_position":"above","related_issue":[557222],"teaser":"","voice_url":""},"yoast_head":"\nQalaa losses ease in 2Q2021 on stronger revenues - 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\/09\/12\/qalaa-losses-ease-in-2q2021-on-stronger-revenues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qalaa losses ease in 2Q2021 on stronger revenues\" \/>\n<meta property=\"og:description\" content=\"Qalaa Holdings\u2019 losses eased to EGP 401.5 mn in 2Q2021 from EGP 712.1 mn in the same period last year, according to the company\u2019s earnings release (pdf). 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PLUS: CIB, ODE report 1Q23 earnings","author":"enterpriseam admin","date":"15 May 2023","format":false,"excerpt":"High oil prices fueled a 162% rise in revenues at the Egyptian Refining Company","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/778.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546194,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/08\/qalaa-losses-narrow-in-2021\/","url_meta":{"origin":557239,"position":1},"title":"Qalaa losses narrow in 2021","author":"enterpriseam admin","date":"8 May 2022","format":false,"excerpt":"Rising revenues helped Qalaa Holdings to narrow its losses to EGP 2.3 bn in 2021 from EGP 2.6 bn the year before, according to the company\u2019s full year earnings release (pdf). Revenues rose 27% y-o-y to EGP 45.8 bn during the 12-month period on higher commodity prices and improved refining\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549821,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/qalaa-holdings-reports-first-quarter-in-black-since-2018-in-2q-2022\/","url_meta":{"origin":557239,"position":2},"title":"Qalaa Holdings reports first quarter in black since 2018 in 2Q 2022","author":"enterpriseam admin","date":"2 October 2022","format":false,"excerpt":"Qalaa Holdings returned to the black for the first quarter since 2018 in 2Q 2022 on the back of record revenues driven by improved refining margins at the Egyptian Refining Company (ERC). The company generated a net income of EGP 361.6 mn during the April-June quarter, compared to EGP 401.5\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596632,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/earnings-watch-qalaa-holdings-revenues-rise-13-y-o-y-in-1q2019-to-egp-3-4-bn\/","url_meta":{"origin":557239,"position":3},"title":"EARNINGS WATCH- Qalaa Holdings\u2019 revenues rise 13% y-o-y in 1Q2019 to EGP 3.4 bn","author":"enterpriseam admin","date":"3 July 2019","format":false,"excerpt":"EARNINGS WATCH- Qalaa Holdings revenues rise 13%, losses narrow to EGP 154.6 mn: Qalaa Holdings\u2019 revenues rose 13% y-o-y in 1Q2019 to EGP 3.4 bn \u201con the back of robust results posted across its subsidiaries,\u201d the company said in its earnings release (pdf). The company singled out its energy platform,\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":578153,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/qalaa-holdings-remains-profitable-during-3q-2022\/","url_meta":{"origin":557239,"position":4},"title":"Qalaa Holdings remains profitable during 3Q 2022","author":"enterpriseam admin","date":"18 December 2022","format":false,"excerpt":"Qalaa Holdings returned to the black in 3Q 2022, reporting a EGP 16.7 mn profit against a EGP 440.7 mn loss in the same quarter last year in its latest earnings release (pdf). Revenues jumped 86% y-o-y to EGP 23.7 bn during the quarter, driven by the Egyptian Refining Company\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/361.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575088,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/01\/qalaa-losses-deepen-in-2q2020-despite-strong-erc-revenues\/","url_meta":{"origin":557239,"position":5},"title":"Qalaa losses deepen in 2Q2020 despite strong ERC revenues","author":"enterpriseam admin","date":"1 October 2020","format":false,"excerpt":"EARNINGS WATCH- Qalaa Holdings reported a net loss of EGP 712.1 mn in 2Q2020 compared to EGP 224.5 mn in the same period last year, according to the company's earnings release (pdf), on the back of low fuel prices and the covid-19 pandemic. The losses were driven primarily by the\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557239","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=557239"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557239\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/557240"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557239"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557239"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}