{"id":600364,"date":"2019-01-28T04:23:27","date_gmt":"2019-01-28T04:23:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/28\/amoc-earnings-tank-in-2q2018-19\/"},"modified":"2019-01-28T04:23:27","modified_gmt":"2019-01-28T04:23:27","slug":"amoc-earnings-tank-in-2q2018-19","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/28\/amoc-earnings-tank-in-2q2018-19\/","title":{"rendered":"AMOC earnings tank in 2Q2018-19"},"content":{"rendered":"

EARNINGS WATCH-<\/b> AMOC earnings tank in 2Q2018-19: <\/b>Alexandria Mineral Oils Company\u2019s (AMOC) net profits fell 93% y-o-y to EGP 25 mn during 2Q2018-19, making it the company\u2019s worst quarter in a decade, according to Shuaa Securities (pdf)<\/a>, which noted that the state company\u2019s profits fell 90% below expectation. Company revenues were up 35% y-o-y to EGP 3.7 bn.<\/p>\n

What now for the IPO?<\/b> While Shuaa offers no comment on the impact this would have on AMOC\u2019s planned listing of a 20% stake as part of the state privatization program,AMOC shareholders decided earlier this month<\/a> to hold off on the float until the company returns to profitability. The government is currently deliberating whether to offer AMOC during the second wave of companies or withdraw it from the privatization program completely.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- AMOC earnings tank in 2Q2018-19: Alexandria Mineral Oils Company\u2019s (AMOC) net profits fell 93% y-o-y to EGP 25 mn during 2Q2018-19, making it the company\u2019s worst quarter in a decade, according to Shuaa Securities (pdf), which noted that the state company\u2019s profits fell 90% below expectation. Company revenues were up 35% y-o-y to […]<\/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":[1133,72,1116,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600364","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-amoc","tag-enterpriseam","tag-shuaa-securities","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"128ffba8-dccf-4f83-828d-d0e9db467309","is_powered_by":true,"section_story_id":"ba61a347-65d9-4ef8-869f-cf0c48de6c73","story_type":"1","photo_url":"","photo_position":"above","related_issue":[600347],"teaser":"","voice_url":""},"yoast_head":"\nAMOC earnings tank in 2Q2018-19 - 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\/01\/28\/amoc-earnings-tank-in-2q2018-19\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AMOC earnings tank in 2Q2018-19\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- AMOC earnings tank in 2Q2018-19: Alexandria Mineral Oils Company\u2019s (AMOC) net profits fell 93% y-o-y to EGP 25 mn during 2Q2018-19, making it the company\u2019s worst quarter in a decade, according to Shuaa Securities (pdf), which noted that the state company\u2019s profits fell 90% below expectation. 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Company revenues were up 4.5% y-o-y to EGP 14.664 bn.","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":599693,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/08\/amoc-shareholders-decide-to-postpone-stake-sale-until-profitability-rebounds\/","url_meta":{"origin":600364,"position":1},"title":"AMOC shareholders decide to postpone stake sale until profitability rebounds","author":"enterpriseam admin","date":"8 January 2019","format":false,"excerpt":"AMOC shareholders decide to postpone stake sale until profitability restored: Shareholders in the Alexandria Mineral Oils Company (AMOC) have decided to hold off on the sale of a 20% stake on the EGX as part of the state privatization program until the company\u2019s profitability rebounds, an unnamed government source tells\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":544142,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/earnings-watch-amoc-adcb-egypt\/","url_meta":{"origin":600364,"position":2},"title":"Earnings watch: AMOC, ADCB Egypt","author":"enterpriseam admin","date":"13 February 2022","format":false,"excerpt":"EARNINGS WATCH-Alexandria Minerals and Oil Company (AMOC) recorded EGP 407.5 mn in net income in 2H2021, compared to EGP 42.6 mn during the same quarter last year, according to the company\u2019s earnings (pdf). This came on the back of sales growing by two-thirds to EGP 7.1 bn.Abu Dhabi Commercial Bank\u2026","rel":"","context":"In "GO WITH THE FLOW"","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":552226,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/21\/earnings-watch-amoc-reports-fy-2021-2022-earnings-2\/","url_meta":{"origin":600364,"position":3},"title":"Earnings watch: AMOC reports FY 2021-2022 earnings","author":"enterpriseam admin","date":"21 August 2022","format":false,"excerpt":"EARNINGS WATCH- Alexandria Mineral Oils Company (AMOC) reported a net income of EGP 1.22 bn in FY 2021-2022, up 144% y-o-y, according to the company\u2019s financial statement (pdf). The company recorded EGP 18.44 bn in sales during the fiscal year, rising 81% y-o-y. MARKET ROUNDUP- The EGX30 rose 2.4% at\u2026","rel":"","context":"In "GO WITH THE FLOW"","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":550938,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/15\/earnings-watch-amoc-credit-agricole-export-development-bank-adib\/","url_meta":{"origin":600364,"position":4},"title":"Earnings watch: AMOC, Credit Agricole, Export Development Bank, ADIB","author":"enterpriseam admin","date":"15 May 2022","format":false,"excerpt":"EARNINGS WATCH- Alexandria Minerals Oil Company\u2019s (AMOC) bottom line rose roughly 638% in 9M 2021-2022 to EGP 762 mn, according to the company\u2019s financials (pdf). The company\u2019s revenues rose 72% y-o-y during the nine-month period to EGP 12.26 bn. Credit Agricole Egypt\u2019s bottom line rose 30% y-o-y in 1Q 2022\u2026","rel":"","context":"In "GO WITH THE FLOW"","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":580919,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/earnings-watch-amoc-net-income-jumps-in-1h-2022-23\/","url_meta":{"origin":600364,"position":5},"title":"Earnings watch: AMOC net income jumps in 1H 2022-23","author":"enterpriseam admin","date":"25 January 2023","format":false,"excerpt":"EARNINGS WATCH-Alexandria Mineral Oils Company (AMOC) reported net income after tax of EGP 850.7 mn in 1H 2022-23, up 146% y-o-y, according to the company\u2019s unaudited earnings release (pdf). The company recorded EGP 10.6 bn in sales during the July-December period, up 51% y-o-y. 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