{"id":621600,"date":"2018-11-13T04:18:20","date_gmt":"2018-11-13T04:18:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/"},"modified":"2018-11-13T04:18:20","modified_gmt":"2018-11-13T04:18:20","slug":"earnings-watch-gb-auto-orascom-development-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/","title":{"rendered":"Earnings Watch: GB Auto, Orascom Development Egypt"},"content":{"rendered":"

<\/a> EARNINGS WATCH- GB Auto reported a consolidated net profit of EGP 240.4 mn in 3Q2018, <\/strong>reversing losses of EGP 138.9 mn in the same quarter last year, according to the company\u2019s earnings release (pdf)<\/a>. \u201cI am particularly pleased with our Group's performance during the quarter were our assessment of the market's recovery has proven to be accurate,\u201d said GB Auto CEO Raouf Ghabbour. \u201cWe are witnessing a period of shifting market dynamics with demand trends realigning to the new norm and price points<\/strong>. In parallel, our Group is actively working to improve sales mix at our Auto and Auto-Related segment as we seek to fully capitalize on the uptrend and extract higher value from a growing market. \u2026 Total volumes sold across the market reflected strong demand<\/strong>, and at our Egypt Passenger Car business volumes are increasingly shifting to higher-margin units<\/strong>.\u201d One of every three cars sold in Egypt in 3Q2018 was a GB Auto vehicle; the company\u2019s market share year-to-date stands at just shy of 30%.<\/p>\n

Orascom Development Egypt (ODE) reported a net profit after tax of EGP 89.4 mn <\/strong>in 3Q2018, down from EGP 92.4 in 3Q2017, company said in its earnings release (pdf)<\/a>. Total revenues for 3Q2018 stood at EGP 868.1 mn, up from EGP 628.6 mnin the same period of last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- GB Auto reported a consolidated net profit of EGP 240.4 mn in 3Q2018, reversing losses of EGP 138.9 mn in the same quarter last year, according to the company\u2019s earnings release (pdf). \u201cI am particularly pleased with our Group's performance during the quarter were our assessment of the market's recovery has proven 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":[11304,302,72,241,256,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621600","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-3q2018","tag-earnings","tag-enterpriseam","tag-gb-auto","tag-orascom-development-egypt","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"60ef7147-1fd8-4d15-bc93-c38f85acc931","order":"0","is_powered_by":true,"section_story_id":"964d5586-c249-4fe0-b6eb-a80699c01e8a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[621586],"teaser":"","voice_url":""},"yoast_head":"\nEarnings Watch: GB Auto, Orascom Development Egypt - 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\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch: GB Auto, Orascom Development Egypt\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- GB Auto reported a consolidated net profit of EGP 240.4 mn in 3Q2018, reversing losses of EGP 138.9 mn in the same quarter last year, according to the company\u2019s earnings release (pdf). \u201cI am particularly pleased with our Group's performance during the quarter were our assessment of the market's recovery has proven to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-13T04:18:20+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\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Earnings Watch: GB Auto, Orascom Development Egypt\",\"datePublished\":\"2018-11-13T04:18:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/\"},\"wordCount\":219,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"3Q2018\",\"earnings\",\"EnterpriseAM\",\"GB Auto\",\"Orascom Development Egypt\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/\",\"name\":\"Earnings Watch: GB Auto, Orascom Development Egypt - 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The company\u2019s revenues rose to EGP 1 bn from EGP 868.1 mn during the same quarter last year, according to the company\u2019s financial statements (pdf). In 9M2019, ODE\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":637049,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/07\/earnings-watch-gb-auto-acc\/","url_meta":{"origin":621600,"position":1},"title":"Earnings Watch: GB Auto, ACC","author":"enterpriseam admin","date":"7 November 2017","format":false,"excerpt":"EARNINGS WATCH- \u2018This the season, folks. Among those reporting results yesterday: GB Auto announced a consolidated net loss of EGP 138.9 mn in 3Q2017, down from a net profit of EGP 39.4 mn a year earlier. Sales revenues rose 16.4% y-o-y to EGP 5.03 bn during the period. \u201cOverall, 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":[]},{"id":622065,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/26\/earnings-watch-egypts-domty-reports-egp-34-7-mn-3q2018-net-profit\/","url_meta":{"origin":621600,"position":2},"title":"Earnings watch: Egypt\u2019s Domty reports EGP 34.7 mn 3Q2018 net profit","author":"enterpriseam admin","date":"26 November 2018","format":false,"excerpt":"EARNINGS WATCH- Cheese producer Domty reported a net profit of EGP 34.7 mn in 3Q2018, up from EGP 22 mn in 3Q2017, according to the company's earnings release (pdf). 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This came despite a 6.3% y-o-y rise in total Group revenues to EGP\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":625602,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/gb-auto-1h2018-results\/","url_meta":{"origin":621600,"position":4},"title":"GB Auto 1H2018 results","author":"enterpriseam admin","date":"9 August 2018","format":false,"excerpt":"EARNINGS WATCH- GB Auto reported a consolidated net profit of EGP 148.1 mn in 2Q2018, up 340.0% q-o-q from EGP 33.5 mn in the last quarter, according to a the company\u2019s earnings release (pdf). 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