{"id":595499,"date":"2019-09-29T04:18:05","date_gmt":"2019-09-29T04:18:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/29\/earnings-watch-qalaa-holdings-revenues-rise-8-y-o-y-in-2q2019\/"},"modified":"2019-09-29T04:18:05","modified_gmt":"2019-09-29T04:18:05","slug":"earnings-watch-qalaa-holdings-revenues-rise-8-y-o-y-in-2q2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/29\/earnings-watch-qalaa-holdings-revenues-rise-8-y-o-y-in-2q2019\/","title":{"rendered":"Earnings watch: Qalaa Holdings revenues rise 8% y-o-y in 2Q2019"},"content":{"rendered":"

EARNINGS WATCH- Qalaa Holdings\u2019 revenues rose 8% y-o-y in 2Q2019 to EGP 3.5 bn<\/b> \u201cdriven by solid top line performance at TAQA Arabia,\u201d the company\u2019s energy platform, Qalaa said in its earnings release (pdf)<\/a>. TAQA\u2019s revenues grew 33% y-o-y during the quarter.<\/p>\n

ERC set to come online in 4Q2019:<\/b> The Egyptian Refining Company (ERC) is set to see its first full operational quarter in 4Q2019, and is \u201ccurrently seeing a ramp-up of utilization rates,\u201d said founder and Chairman Ahmed Heikal. Qalaa\u2019s flagship project has supplied the Egyptian General Petroleum Company (EGPC) with more than 700k tonnes of refined oil products. All units at ERC, which has drawn in USD 4.4 bn in investments, became officially operational earlier this month<\/a>.<\/p>\n

Looking ahead, management expects ERC coming online to positively impact earnings<\/b>, while solid fundamentals across its subsidiaries offer \u201ca solid hedge against changes in our external environment,\u201d said co-founder and Managing Director Hisham El Khazindar. \u201cHeading into the final quarter of the year, we see Qalaa\u2019s investments across its business segments and its portfolio delivering gradual improvement in the company\u2019s consolidated profitability over the coming period,\u201d said El Khazindar.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 Egyptian Refining Company (ERC) is […]<\/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":[302,2391,72,613,2380,615],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595499","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-earnings","tag-egyptian-refining-company","tag-enterpriseam","tag-qalaa-holdings","tag-speed-round","tag-taqa-arabia","wpautop","entry"],"acf":{"mongo_id":"37c52975-38a4-43a9-8417-12260a6e4b9b","is_powered_by":true,"section_story_id":"785966f3-4750-484d-b6ed-3127264e9e60","story_type":"1","photo_url":"","photo_position":"above","related_issue":[595485],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: Qalaa Holdings revenues rise 8% y-o-y in 2Q2019 - 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\/2019\/09\/29\/earnings-watch-qalaa-holdings-revenues-rise-8-y-o-y-in-2q2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Qalaa Holdings revenues rise 8% y-o-y in 2Q2019\" \/>\n<meta property=\"og:description\" content=\"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). 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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":557239,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/qalaa-losses-ease-in-2q2021-on-stronger-revenues\/","url_meta":{"origin":595499,"position":2},"title":"Qalaa losses ease in 2Q2021 on stronger revenues","author":"enterpriseam admin","date":"12 September 2021","format":false,"excerpt":"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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