{"id":567986,"date":"2020-12-14T04:03:40","date_gmt":"2020-12-14T04:03:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/"},"modified":"2020-12-14T04:03:40","modified_gmt":"2020-12-14T04:03:40","slug":"qalaa-holdings-reports-3q2020-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/","title":{"rendered":"Qalaa Holdings reports 3Q2020 results"},"content":{"rendered":"

Qalaa Holdings reported a <\/strong>consolidated net loss after minority interest of EGP 450 mn in 3Q2020<\/strong>, widening its losses from EGP 395 mn in 3Q2019, according to the company\u2019s earnings release (pdf)<\/a>. The wider loss comes despite Qalaa\u2019s top line more than doubling to EGP 8.7 bn in 3Q2020, from EGP 3.9 bn in the same quarter last year. Qalaa\u2019s flagship greenfield Egyptian Refining Company \u2014 which became fully operational back in 2019<\/a> \u2014 contributed to the bulk of the consolidated revenues, or nearly EGP 5.4 bn. Due to the pandemic and \u201ca volatile oil market,\u201d ERC booked a net loss before minority interest of EGP 1.96 bn. Qalaa\u2019s effective share in ERC currently stands at 13.1%.<\/p>\n

Quarter on quarter<\/strong>, Qalaa\u2019s net loss after minority narrowed 36%.<\/p>\n

Qalaa is planning \u201cto engage in a full debt restructuring\u201d for ERC next year<\/strong> \u201cas an exercise in caution and given the relative uncertainty,\u201d co-founder and Managing Director Hisham El Khazindar said. Qalaa remains, however, \u201coptimistic about ERC\u2019s long-term outlook and are encouraged by the recent uptick in oil prices following the news of a potential vaccine,\u201d said El Khazindar.<\/p>\n","protected":false},"excerpt":{"rendered":"

Qalaa Holdings reported a consolidated net loss after minority interest of EGP 450 mn in 3Q2020, widening its losses from EGP 395 mn in 3Q2019, according to the company\u2019s earnings release (pdf). The wider loss comes despite Qalaa\u2019s top line more than doubling to EGP 8.7 bn in 3Q2020, from EGP 3.9 bn in the […]<\/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":[7208],"tags":[409,2391,93,72,125,613],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567986","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-earnings-watch","tag-egyptian-refining-company","tag-energy","tag-enterpriseam","tag-investment-watch","tag-qalaa-holdings","wpautop","entry"],"acf":{"mongo_id":"66fe75e9-7d83-4e5f-b4b8-d88b6c071cf8","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[567969],"teaser":"","voice_url":""},"yoast_head":"\nQalaa Holdings reports 3Q2020 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\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qalaa Holdings reports 3Q2020 results\" \/>\n<meta property=\"og:description\" content=\"Qalaa Holdings reported a consolidated net loss after minority interest of EGP 450 mn in 3Q2020, widening its losses from EGP 395 mn in 3Q2019, according to the company\u2019s earnings release (pdf). The wider loss comes despite Qalaa\u2019s top line more than doubling to EGP 8.7 bn in 3Q2020, from EGP 3.9 bn in the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-14T04:03:40+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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Qalaa Holdings reports 3Q2020 results\",\"datePublished\":\"2020-12-14T04:03:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\"},\"wordCount\":187,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"earnings watch\",\"Egyptian Refining Company\",\"energy\",\"EnterpriseAM\",\"investment watch\",\"Qalaa Holdings\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\",\"name\":\"Qalaa Holdings reports 3Q2020 results - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2020-12-14T04:03:40+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Qalaa Holdings reports 3Q2020 results\"}]},{\"@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":"Qalaa Holdings reports 3Q2020 results - 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\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/","og_locale":"en_US","og_type":"article","og_title":"Qalaa Holdings reports 3Q2020 results","og_description":"Qalaa Holdings reported a consolidated net loss after minority interest of EGP 450 mn in 3Q2020, widening its losses from EGP 395 mn in 3Q2019, according to the company\u2019s earnings release (pdf). The wider loss comes despite Qalaa\u2019s top line more than doubling to EGP 8.7 bn in 3Q2020, from EGP 3.9 bn in the […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2020-12-14T04:03:40+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Qalaa Holdings reports 3Q2020 results","datePublished":"2020-12-14T04:03:40+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/"},"wordCount":187,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["earnings watch","Egyptian Refining Company","energy","EnterpriseAM","investment watch","Qalaa Holdings"],"articleSection":["EARNINGS WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/","url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/","name":"Qalaa Holdings reports 3Q2020 results - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2020-12-14T04:03:40+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Qalaa Holdings reports 3Q2020 results"}]},{"@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\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":572663,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/05\/qalaa-holdings-reports-1q2020-results\/","url_meta":{"origin":567986,"position":0},"title":"Qalaa Holdings reports 1Q2020 results","author":"enterpriseam admin","date":"5 July 2020","format":false,"excerpt":"EARNINGS WATCH- Qalaa Holdings\u2019 revenues soared 191% y-o-y in 1Q2020 to EGP 10.4 bn, the company said in its quarterly earnings release (pdf). The revenue growth came as Qalaa\u2019s flagship greenfield Egyptian Refining Company \u2014 which began operating at 100% capacity in 2019 \u2014 began booking sales revenue as an\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":644051,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/19\/qalaa-holdings-sees-revenues-income-rise-in-1q-2024\/","url_meta":{"origin":567986,"position":1},"title":"Qalaa Holdings sees revenues, income rise in 1Q 2024","author":"enterpriseam admin","date":"19 September 2024","format":false,"excerpt":"Qalaa Holdings saw its net income after minority interest jump to EGP 7.2 bn","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\/2024\/9\/1511.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606537,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/18\/qalaa-holdings-reports-2q-loss-on-higher-borrowing-costs\/","url_meta":{"origin":567986,"position":2},"title":"Qalaa Holdings reports 2Q loss on higher borrowing costs","author":"enterpriseam admin","date":"18 September 2023","format":false,"excerpt":"Solid growth at Taqa Arabia helped offset a drop in revenues at the ERC","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\/9\/1090.jpg?fit=%2C&ssl=1&resize=350%2C200","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":567986,"position":3},"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":619650,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/08\/qalaa-holdings-bottomline-increased-five-fold-in-2023-on-the-back-of-stake-sale\/","url_meta":{"origin":567986,"position":4},"title":"Qalaa Holdings\u2019 bottomline increased five-fold in 2023 on the back of stake sale","author":"enterpriseam admin","date":"8 May 2024","format":false,"excerpt":"The firm\u2019s revenue grew 17% y-o-y in 2023 to EGP 97.1 bn","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\/2024\/2\/1760.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595499,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/29\/earnings-watch-qalaa-holdings-revenues-rise-8-y-o-y-in-2q2019\/","url_meta":{"origin":567986,"position":5},"title":"Earnings watch: Qalaa Holdings revenues rise 8% y-o-y in 2Q2019","author":"enterpriseam admin","date":"29 September 2019","format":false,"excerpt":"EARNINGS WATCH- Qalaa Holdings\u2019 revenues rose 8% y-o-y in 2Q2019 to EGP 3.5 bn \u201cdriven by solid top line performance at TAQA Arabia,\u201d the company\u2019s energy platform, Qalaa said in its earnings release (pdf). TAQA\u2019s revenues grew 33% y-o-y during the quarter. ERC set to come online in 4Q2019: 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\/567986","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=567986"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567986\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567969"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567986"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567986"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}