{"id":564113,"date":"2021-08-09T13:54:54","date_gmt":"2021-08-09T13:54:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/"},"modified":"2021-08-09T13:54:54","modified_gmt":"2021-08-09T13:54:54","slug":"rameda-net-income-up-60-in-2q2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/","title":{"rendered":"Rameda net income up 60% in 2Q2021"},"content":{"rendered":"<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>EARNINGS WATCH- Tenth of Ramadan for Pharma Industries and Diagnostic Reagents\u2019 <\/strong><strong>(Rameda) net income rose 60% to EGP <\/strong><strong>31.<\/strong><strong>5 mn in 2Q2021<\/strong>, up from EGP 19.7 mn in the same period last year, according to the <a href=\"https:\/\/ent.news\/2021\/8\/Rameda-June21-Consolidated-FSs-English-Condensed.pdf\">company\u2019s financials (pdf)<\/a> released this morning. Revenues grew by 30% to EGP 267 mn during the quarter.<\/p>\n<p><strong>Covid drives revenue growth in 2021:<\/strong> \u201cTop-line growth was primarily led by the success of Rameda\u2019s covid-19 related antiviral products, Anviziram and Remdesivir, which collectively generated EGP 80 mn in sales and were among the top 10 products sold in 1H2021,\u201d CEO Amr Morsy said in the company\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/Rameda-ER-One-Pager-1H21-E-vFinal-1.pdf\">earnings release<\/a><a href=\"https:\/\/ent.news\/2021\/8\/Rameda-ER-One-Pager-1H21-E-vFinal-1.pdf\">(pdf)<\/a>. Products launched since the beginning of 2020 accounted for 42% of the company\u2019s revenues during the first six months of the year, he said.<\/p>\n<p><strong>Looking ahead:<\/strong> In the second half of 2021, \u201cwe aim to further build on and replicate our latest successful acquisition and launch new products that further expand and optimize our portfolio,\u201d Morsy said.<\/p>\n<p><strong>CI Capital\u2019s net income increased more than ninefold in 2Q2021<\/strong>, reaching EGP 9.7 mn from EGP 1 mn last year, according to the <a href=\"https:\/\/ent.news\/2021\/8\/%D8%B3%D9%89-%D8%A7%D9%89-%D9%83%D8%A7%D8%A8%D9%8A%D8%AA%D8%A7%D9%84-%D9%85%D8%AC%D9%85%D8%B9%D8%A9-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-9-8-2021.pdf\">company\u2019s financials (pdf)<\/a>. Revenues almost tripled to EGP 1.4 bn from EGP 514 mn in 2Q2020.<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Ezz Steel recorded an EGP 1.21 bn profit in 2Q2021 after being in the red last year,<\/strong> according to its <\/span><a href=\"https:\/\/ent.news\/2021\/8\/Consolidated-Interim-In-30-Jun-2021.pdf\"><span style=\"font-weight: 400;\">consolidated financials (pdf)<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><span style=\"font-weight: 400;\">Al Ezz Dekheila Steel also turned to profit in 2Q2021, with the company <\/span><a href=\"https:\/\/ent.news\/2021\/8\/%D8%A7%D9%84%D8%B9%D8%B2-%D8%A7%D9%84%D8%AF%D8%AE%D9%8A%D9%84%D8%A9-%D9%84%D9%84%D8%B5%D9%84%D8%A8-%D9%82%D9%88%D8%A7%D8%A6%D9%85-%D9%85%D8%AC%D9%85%D8%B9%D8%A9-30-06-2021.pdf\"><span style=\"font-weight: 400;\">reporting (pdf)<\/span><\/a><span style=\"font-weight: 400;\"> yesterday an EGP 1.04 bn profit during the quarter, compared to a EGP 1.2 bn loss last year.<\/span><\/p>\n<p><strong>MARKET WATCH- <\/strong><\/p>\n<p><strong>The EGX30 rose 0.6% at today\u2019s close<\/strong> on turnover of EGP 1.8 bn (27.8% above the 90-day average). Local investors were net buyers. The index is down 0.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>Telecom Egypt (+3.5%), Ezz Steel (+2.7%) and Medinet Nasr Housing (+1.5%).<\/p>\n<p><strong>In the red: <\/strong>AMOC (-3.6%), Speed Medical (-2.7%) and MM Group (-2.5%).<\/p>\n<p><em>Correction: 9 August 2021.<\/em><\/p>\n<p><em>A previous version of this story incorrectly stated that CI Capital reported a EGP 974k profit in 2Q2021, and Ezz Steel recorded a EGP 1.03 bn loss.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 during the quarter. Covid drives [&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":[136,302,409,633,589,642,449],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564113","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-ci-capital","tag-earnings","tag-earnings-watch","tag-enterprisepm","tag-ezz-steel","tag-go-with-the-flow","tag-rameda-pharma","wpautop","entry"],"acf":{"mongo_id":"37286b9d-36d1-4b3f-be65-345326f01034","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[564105],"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>Rameda net income up 60% in 2Q2021 - 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\/08\/09\/rameda-net-income-up-60-in-2q2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rameda net income up 60% in 2Q2021\" \/>\n<meta property=\"og:description\" content=\"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 during the quarter. Covid drives [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-09T13:54:54+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Rameda net income up 60% in 2Q2021\",\"datePublished\":\"2021-08-09T13:54:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/\"},\"wordCount\":329,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"CI Capital\",\"earnings\",\"earnings watch\",\"EnterprisePM\",\"Ezz Steel\",\"Go with the Flow\",\"Rameda Pharma\"],\"articleSection\":[\"GO WITH THE FLOW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/\",\"name\":\"Rameda net income up 60% in 2Q2021 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2021-08-09T13:54:54+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rameda net income up 60% in 2Q2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Rameda net income up 60% in 2Q2021 - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/","og_locale":"en_US","og_type":"article","og_title":"Rameda net income up 60% in 2Q2021","og_description":"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 during the quarter. 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The bottom-line growth was fuelled by a 21% rise in revenues, which reached almost\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":565826,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/06\/earnings-watch-rameda-amoc\/","url_meta":{"origin":564113,"position":1},"title":"Earnings Watch: Rameda, AMOC","author":"enterpriseam admin","date":"6 May 2021","format":false,"excerpt":"EARNINGS WATCH- Tenth of Ramadan for Pharma Industries and Diagnostic Reagents (Rameda) reported a bottom line growth of 26% y-o-y to EGP 30.2 mn in 1Q2021, in an earnings release (pdf) out today. The company\u2019s topline grew 17% y-o-y to EGP 270.8 mn during the quarter, \u201cdriven by strong performance\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":571608,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/18\/earnings-watch-rameda-pharma-credit-agricole-egypt-adib-eipico-vodafone-egypt\/","url_meta":{"origin":564113,"position":2},"title":"Earnings watch: Rameda Pharma, Credit Agricole Egypt, ADIB, EIPICO, Vodafone Egypt","author":"enterpriseam admin","date":"18 May 2020","format":false,"excerpt":"EARNINGS WATCH- Rameda profits soar in 1Q: Rameda Pharma almost trebled its profits in 1Q2020, recording net income of EGP 23.9 mn compared to EGP 8.1 mn a year earlier, according to the company\u2019s earnings statement (pdf). Revenues climbed 22% to reach EGP 232.4 mn over the three-month period, up\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":564194,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/fawry-mm-group-ode-all-report-stellar-earnings-in-2q2021\/","url_meta":{"origin":564113,"position":3},"title":"Fawry, MM Group, ODE all report stellar earnings in 2Q2021","author":"enterpriseam admin","date":"16 August 2021","format":false,"excerpt":"EARNINGS WATCH- Fawry\u2019s net income rose 7% to EGP 51.4 mn in 2Q2021, up from EGP 47.9 mn in the same period last year, according to its financials (pdf). Revenues jumped 35% to EGP 393.6 mn in the April-June period, up from EGP 291.3 mn last year. The modest earnings\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":617339,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/20\/rameda-reports-strong-revenue-growth-stable-net-income-in-2023\/","url_meta":{"origin":564113,"position":4},"title":"Rameda reports strong revenue growth, stable net income in 2023","author":"enterpriseam admin","date":"20 March 2024","format":false,"excerpt":"The firm\u2019s revenues grew 30% y-o-y in 2023, driven by strong performance from its key verticals and price hikes","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1743.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560550,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/rameda-net-income-dips-in-4q2020\/","url_meta":{"origin":564113,"position":5},"title":"Rameda net income dips in 4Q2020","author":"enterpriseam admin","date":"3 March 2021","format":false,"excerpt":"Rameda Pharma\u2019s net income dipped 14% y-o-y in 4Q2020 to EGP 43.5 mn, down from EGP 50.8 mn in the same period in 2019, the company said in a earnings statement (pdf). 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