{"id":622431,"date":"2018-10-01T04:08:07","date_gmt":"2018-10-01T04:08:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/"},"modified":"2018-10-01T04:08:07","modified_gmt":"2018-10-01T04:08:07","slug":"qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/","title":{"rendered":"Qalaa Holdings records net profit of EGP 486.9 mn in 2Q2018"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>EARNINGS WATCH- Qalaa Holdings recorded a net profit of EGP 486.9 mn in 2Q2018<\/strong>, compared to a net loss of EGP 2.756 bn in the same period last year, according to the <a href=\"http:\/\/resources.inktankir.com\/qh\/QH-2Q18-BR-E-FINAL-4.pdf\">company\u2019s earnings release (pdf)<\/a>. Qalaa\u2019s revenues rose 39% y-o-y in 2Q2018 to EGP 3.1 bn \u201con the back of growth in its energy division and the consolidation of National Printing, which started in 1Q2018.\u201d The company\u2019s restructuring efforts also saw it begin the deconsolidation of operational liabilities from its Africa Railways platform. \u201cI am very pleased with our company\u2019s performance in the second quarter and first half of 2018. Our core energy and infrastructure subsidiaries continue to deliver operational growth as they capitalize on favorable market dynamics,\u201d said Chairman and Founder Ahmed Heikal.<\/p>\n<p><strong>Looking ahead: <\/strong>\u201cAs we bring our company closer to the cusp of sustainable operational profitability, we are actively gearing up for the next growth phase across our subsidiaries,\u201d said Co-Founder and Managing Director Hisham El Khazindar. The company\u2019s USD 4 bn Egyptian Refining Company is 98% complete and commissioning is slated to begin before the end of the year, and <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/05\/qalaa-in-talks-to-increase-stake-in-erc-through-capital-increase\/\">Qalaa has previously been reported to be in talks<\/a> to increase its stake in ERC by subscribing to a capital increase.<\/p>\n<p><strong>2018 is \u201cseen as a turnaround period\u201d for Qalaa<\/strong>, which has been in the red for a few years despite its stock surging 139% this year, Filipe Pacheco and Tamim Elyan <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-09-30\/egypt-s-top-stock-set-to-renew-gains-as-ceo-sees-refinery-boost\">write for Bloomberg<\/a>. Qalaa, \u201cthe best-performing stock in Egypt this year, might be about to reward investors even more as [its] turnaround plan moves forward\u201d and the company continues to restructure its portfolio and cut its consolidated debts. <strong>Key to the turnaround: <\/strong>The Egyptian Refining Company, due to come into production early next year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- Qalaa Holdings recorded a net profit of EGP 486.9 mn in 2Q2018, compared to a net loss of EGP 2.756 bn in the same period last year, according to the company\u2019s earnings release (pdf). Qalaa\u2019s revenues rose 39% y-o-y in 2Q2018 to EGP 3.1 bn \u201con the back of growth in its energy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":622432,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"c7ae76fc-339c-4288-a418-609cba446d65","order":"0","is_powered_by":true,"section_story_id":"24d84cdb-a36c-475b-b9ba-7f3ed21e9fc2","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/9\/2159.jpg","photo_position":"above","related_issue":[622418],"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>Qalaa Holdings records net profit of EGP 486.9 mn in 2Q2018 - 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\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qalaa Holdings records net profit of EGP 486.9 mn in 2Q2018\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Qalaa Holdings recorded a net profit of EGP 486.9 mn in 2Q2018, compared to a net loss of EGP 2.756 bn in the same period last year, according to the company\u2019s earnings release (pdf). Qalaa\u2019s revenues rose 39% y-o-y in 2Q2018 to EGP 3.1 bn \u201con the back of growth in its energy [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-01T04:08:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2018\/9\/2159.jpg?fit=%2C&ssl=1\" \/>\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\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Qalaa Holdings records net profit of EGP 486.9 mn in 2Q2018\",\"datePublished\":\"2018-10-01T04:08:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/\"},\"wordCount\":297,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2018\/9\/2159.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/\",\"name\":\"Qalaa Holdings records net profit of EGP 486.9 mn in 2Q2018 - 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Qalaa\u2019s revenues rose 39% y-o-y in 2Q2018 to EGP 3.1 bn \u201con the back of growth in its energy [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2018-10-01T04:08:07+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2018\/9\/2159.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"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\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Qalaa Holdings records net profit of EGP 486.9 mn in 2Q2018","datePublished":"2018-10-01T04:08:07+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/"},"wordCount":297,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2018\/9\/2159.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM","SPEED ROUND"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/","url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/qalaa-holdings-records-net-profit-of-egp-486-9-mn-in-2q2018\/","name":"Qalaa Holdings records net profit of EGP 486.9 mn in 2Q2018 - 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Edita\u2019s revenues also grew 29.0% y-o-y to EGP 789.2 mn, driven by \u201ccontinued growth\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":595788,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/earnings-emaar-misr-turns-loss-of-egp-324-3-mn-in-3q2019\/","url_meta":{"origin":622431,"position":1},"title":"Earnings: Emaar Misr turns loss of EGP 324.3 mn in 3Q2019","author":"enterpriseam admin","date":"6 August 2019","format":false,"excerpt":"EARNINGS WATCH- Emaar Misr turned net losses of EGP 324.3 mn in 2Q2019, down from a net profit of EGP 598.5 mn in 2Q2018, according to the developer\u2019s earnings release (pdf). This came despite the company\u2019s revenues declining by only 3.4% y-o-y to EGP 890.8 mn from EGP 922.2 mn.\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":625799,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/","url_meta":{"origin":622431,"position":2},"title":"Earnings Watch: Elsewedy, EKH, ODE, TMG, Emaar Misr, and AT Lease report 1H2018 earnings","author":"enterpriseam admin","date":"15 August 2018","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric reported a 21% y-o-y decline in net profit after minority interest in 1H2018 to EGP 2.37 bn, down from EGP 3.01 mn in the same period last year, according to the company\u2019s earnings release (pdf). Revenues for the period fell 3% y-o-y to EGP 20.1 bn,\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":600364,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/28\/amoc-earnings-tank-in-2q2018-19\/","url_meta":{"origin":622431,"position":3},"title":"AMOC earnings tank in 2Q2018-19","author":"enterpriseam admin","date":"28 January 2019","format":false,"excerpt":"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\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":605138,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/earnings-watch-qalaa-holdings-reports-3q18-results\/","url_meta":{"origin":622431,"position":4},"title":"Earnings watch: Qalaa Holdings reports 3Q18 results","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"EARNINGS WATCH- Qalaa Holdings recorded a net profit of EGP 126.4 mn in 3Q2018, up from a net loss of EGP 311.8 mn during the same period last year, according to the company\u2019s earnings release (pdf). Qalaa\u2019s revenues rose 40% y-o-y in 3Q2018 to EGP 3.3 bn \u201con the back\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":598218,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/19\/earnings-watch-qalaa-holdings-reports-egp-1-35-bn-net-profit-in-2018\/","url_meta":{"origin":622431,"position":5},"title":"Earnings watch: Qalaa Holdings reports EGP 1.35 bn net profit in 2018","author":"enterpriseam admin","date":"19 May 2019","format":false,"excerpt":"EARNINGS WATCH- Qalaa Holdings has reported a net profit of EGP 1.35 bn in 2018, compared to a loss of EGP 4.71 bn in 2017, according to the company\u2019s earnings release (pdf). Revenues jumped 25% y-o-y to EGP 13.17 bn during the year, up from EGP 10.55 bn in 2017,\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\/622431","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=622431"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622431\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/622418"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/622432"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=622431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=622431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=622431"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=622431"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=622431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}