{"id":574351,"date":"2020-09-07T04:03:55","date_gmt":"2020-09-07T04:03:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/"},"modified":"2020-09-07T04:03:55","modified_gmt":"2020-09-07T04:03:55","slug":"earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/","title":{"rendered":"Earnings Watch- Cleopatra Hospitals Group, Pioneers Holding, Suez Cement, Sidi Kerir for Petrochemicals"},"content":{"rendered":"<p><strong>EARNINGS WATCH- Cleopatra Hospitals Group reports a 67% y-o-y decline in <\/strong><strong>2Q2020 net profits to EGP 14 mn,<\/strong> down from EGP 42.6 mn in the previous year according to <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d9%83%d9%84%d9%8a%d9%88%20%d8%a8%d9%8a%d8%a7%d9%86%20%d9%86%d8%aa%d8%a7%d8%a6%d8%ac%20%d8%a7%d8%b9%d9%85%d8%a7%d9%84%20%d8%a7%d9%86%d8%ac%d9%84%d9%8a%d8%b2%d9%8a%2006-09-2020.pdf\">the<\/a><a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d9%83%d9%84%d9%8a%d9%88%20%d8%a8%d9%8a%d8%a7%d9%86%20%d9%86%d8%aa%d8%a7%d8%a6%d8%ac%20%d8%a7%d8%b9%d9%85%d8%a7%d9%84%20%d8%a7%d9%86%d8%ac%d9%84%d9%8a%d8%b2%d9%8a%2006-09-2020.pdf\">company\u2019s earnings release (pdf)<\/a>. Revenues fell 17% y-o-y to EGP 340.2 mn over the quarter, down from EGP 409.1 mn. 2Q2020 performance setbacks were attributable to \u201ca worsening economic situation resulting from the outbreak of covid-19 coincid[ing] with the holy month of Ramadan,\u201d which caused \u201csignificant operational challenges for the group,\u201d Cleopatra CEO Ahmed Ezzeldin said. The March-April lockdown also facilitated a \u201csharp decline in patient volumes\u201d who likely chose to delay non-urgent hospital visits, Ezzeldin added.<\/p>\n<p><strong>Net profit in 1H2020 came in at EGP 102 mn (up 4% on the same period in 2020)<\/strong> on revenues of EGP 843.1 mn (a 2% increase over 1H2019).<\/p>\n<p><strong>Looking ahead:<\/strong> \u201cWe enter the second half of the year with optimistic expectations for the group\u2019s operational and financial performance in the coming quarters\u201d as government figures indicate \u201ca sustained decline in the number of daily new cases,\u201d and <strong>the company approaches finalizing an acquisition of a leading IVF center in the coming weeks,<\/strong> the Group\u2019s CEO concluded.<\/p>\n<p><strong>Pioneers Holding\u2019s net profits fell to<\/strong> <strong>EGP 529.7 mn in 2Q2020, <\/strong>down from EGP 638.1 mn in 2Q2019, according to <a href=\"https:\/\/bit.ly\/358G2fB\">the company\u2019s financials (pdf)<\/a>. Pioneers also reported 2Q2020 revenues reaching EGP 1.8 bn down from EGP 4.4 bn in the previous year.<\/p>\n<p><strong>Alexandria Mineral Oils Company (AMOC) report<\/strong><strong>ed a net loss <\/strong><strong>of <\/strong><strong>EGP 4<\/strong><strong>77<\/strong><strong> mn in FY2019-20<\/strong><strong>, <\/strong>from a profit of EGP 574.2 mn in FY2018-19, according to <a href=\"https:\/\/bit.ly\/320r1dZ\">the company\u2019s financials (pdf)<\/a>. The company reported revenues of EGP 9 bn in FY2019-20, down from EGP 14.86 bn in the previous year.<\/p>\n<p><strong>Sidi Kerir for Petrochemicals (SIDPEC) reported EGP 60.7 mn <\/strong><strong>in losses during 2Q2020<\/strong>, down from a net profit of EGP 260 mn in 2Q2019, according to <a href=\"https:\/\/bit.ly\/2Z99i2g\">a company earnings release (pdf)<\/a>. Sidi Kerir reported revenues of EGP 719.6 mn in 2Q2020 down from EGP 1.3 bn in the previous year.<\/p>\n<p><strong>Suez Cement\u2019s losses widened to EGP <\/strong><strong>43<\/strong><strong>5 mn in 2Q2020 <\/strong>down from EGP 454.8 mn in 2Q2019, according to the <a href=\"https:\/\/bit.ly\/3jOG54r\">company\u2019s financials (pdf).<\/a> Sales revenues for the quarter reached EGP 1.4 bn in 2Q2020 down from EGP 1.5 bn in the previous year.<\/p>\n<p><strong>Tourah Cement losses narrowed in 2Q2020 to EGP 87 mn <\/strong>from EGP 410.4 mn in 2Q2019, according to the company\u2019s <a href=\"https:\/\/bit.ly\/3bvsLz7\">financial statements (pdf)<\/a>. The company\u2019s sales revenues inched down to EGP 33.8 mn in 2Q2020 from EGP 182.4 mn the previous year.<\/p>\n<p><strong>The Arab Petroleum Investments Corporation\u2019s (Apicorp) net profits fell 22% to <\/strong><strong>USD 54.8 mn during 1H2020<\/strong>, from USD 70.4 mn a year earlier, according to a <a href=\"https:\/\/ent.news\/2020\/9\/APICORP-FS-30-JUNE-2020-Final.pdf\">company earnings release (pdf)<\/a>. Apicorp reported revenues of USD 82.9 mn in 1H2020, down 12% from 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- Cleopatra Hospitals Group reports a 67% y-o-y decline in 2Q2020 net profits to EGP 14 mn, down from EGP 42.6 mn in the previous year according to thecompany\u2019s earnings release (pdf). Revenues fell 17% y-o-y to EGP 340.2 mn over the quarter, down from EGP 409.1 mn. 2Q2020 performance setbacks were attributable to [&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":[8572],"tags":[7411,192,72,3307,5839,2380,1784],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574351","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-cleopatra","tag-cleopatra-hospitals-group","tag-enterpriseam","tag-pioneers-holding","tag-sidi-kerir-for-petrochemicals","tag-speed-round","tag-suez-cement","wpautop","entry"],"acf":{"mongo_id":"3344fbed-245d-4ec3-9d37-e1fbfd2ade67","is_powered_by":true,"section_story_id":"23918bcf-5e12-4ca5-b57e-940723993ef5","story_type":"1","photo_url":"","photo_position":"above","related_issue":[574333],"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 Watch- Cleopatra Hospitals Group, Pioneers Holding, Suez Cement, Sidi Kerir for Petrochemicals - 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\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch- Cleopatra Hospitals Group, Pioneers Holding, Suez Cement, Sidi Kerir for Petrochemicals\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Cleopatra Hospitals Group reports a 67% y-o-y decline in 2Q2020 net profits to EGP 14 mn, down from EGP 42.6 mn in the previous year according to thecompany\u2019s earnings release (pdf). Revenues fell 17% y-o-y to EGP 340.2 mn over the quarter, down from EGP 409.1 mn. 2Q2020 performance setbacks were attributable to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-07T04:03:55+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\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Earnings Watch- Cleopatra Hospitals Group, Pioneers Holding, Suez Cement, Sidi Kerir for Petrochemicals\",\"datePublished\":\"2020-09-07T04:03:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/\"},\"wordCount\":455,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Cleopatra\",\"Cleopatra Hospitals Group\",\"EnterpriseAM\",\"Pioneers Holding\",\"Sidi Kerir for Petrochemicals\",\"SPEED ROUND\",\"Suez Cement\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/\",\"name\":\"Earnings Watch- Cleopatra Hospitals Group, Pioneers Holding, Suez Cement, Sidi Kerir for Petrochemicals - 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This came despite revenues rising 18% to EGP 1.1 bn from EGP 958 mn. Pioneers\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":551207,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/earnings-watch-sidpec-bottomline-rises-65-4-y-o-y-in-1q2022\/","url_meta":{"origin":574351,"position":1},"title":"Earnings watch: Sidpec bottomline rises 65.4% y-o-y in 1Q2022","author":"enterpriseam admin","date":"1 June 2022","format":false,"excerpt":"EARNINGS WATCH-Sidi Kerir Petrochemicals (Sidpec) reported a 65.4% y-o-y rise in its bottomline to EGP 251.07 mn in 1Q2022, according to its financials (pdf). Revenues jumped 61% to EGP 2.11 bn during the quarter. The EGX30 fell 0.7% at today\u2019s close on turnover of EGP 653 mn (22.6% below the\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":576409,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/earnings-watch-cleopatra-hospitals-orascom-investment-holding\/","url_meta":{"origin":574351,"position":2},"title":"Earnings watch: Cleopatra Hospitals, Orascom Investment Holding","author":"enterpriseam admin","date":"23 November 2020","format":false,"excerpt":"EARNINGS WATCH- Cleopatra Hospitals Group\u2019s net profit rose 11% y-o-y in 3Q2020 to EGP 80 mn, up from EGP 72.2 mn last year, according to the company\u2019s earnings release (pdf). Revenues grew 16% to EGP 536 mn in the third quarter, up from EGP 462 mn a year ago. \u201cMargins\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":564153,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/11\/earnings-watch-beltone-nbk-egypt-credit-agricole-egypt-gsk-obour-land-arabian-cement\/","url_meta":{"origin":574351,"position":3},"title":"Earnings watch: Beltone, NBK Egypt, Credit Agricole Egypt, GSK, Obour Land, Arabian Cement","author":"enterpriseam admin","date":"11 August 2021","format":false,"excerpt":"EARNINGS WATCH- Beltone Financial reported net income of EGP 4.7 mn in 2Q2021, up from a loss of EGP 12.1 mn in 2Q2020 and net income of almost EGP 3.8 mn in the first quarter of this year, according to an earnings report (pdf). The company\u2019s revenues reached EGP 95.9\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":543316,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/sidi-kerirs-bottom-line-rose-1958-y-o-y-in-2021\/","url_meta":{"origin":574351,"position":4},"title":"Sidi Kerir\u2019s bottom line rose 1,958% y-o-y in 2021","author":"enterpriseam admin","date":"24 January 2022","format":false,"excerpt":"MARKET NEWS-Sidi Kerir Petrochemicals\u2019 bottom line rose 1,958% y-o-y in 2021 to EGP 535 mn, according to the company\u2019s financials (pdf). Revenues also rose 48% during the year to EGP 5.1 bn. The petrochem company attributed its performance to the stabilization of local and global markets and Sidi Kerir\u2019s efforts\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":593338,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/25\/earnings-watch-cleopatra-hospitals-profits-fall-20-in-3q2019\/","url_meta":{"origin":574351,"position":5},"title":"Earnings watch: Cleopatra Hospitals profits fall 20% in 3Q2019","author":"enterpriseam admin","date":"25 November 2019","format":false,"excerpt":"EARNINGS WATCH- Cleopatra Hospitals Group reported a 21% y-o-y dip in 3Q2019 net profit to EGP 72.2 mn compared to EGP 91.6 mn a year earlier, according to the company\u2019s quarterly earnings release (pdf). Revenues rose 19% y-o-y to EGP 462 mn, up from EGP 338.3 mn in 3Q2018. On\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574351","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=574351"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574351\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/574333"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=574351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=574351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=574351"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=574351"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=574351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}