{"id":625799,"date":"2018-08-15T04:11:48","date_gmt":"2018-08-15T04:11:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/"},"modified":"2018-08-15T04:11:48","modified_gmt":"2018-08-15T04:11:48","slug":"earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/","title":{"rendered":"Earnings Watch: Elsewedy, EKH, ODE, TMG, Emaar Misr, and AT Lease report 1H2018 earnings"},"content":{"rendered":"<p><strong>EARNINGS WATCH- Elsewedy Electric reported a 21% y-o-y decline in net profit after minority interest in 1H2018 to EGP 2.37 bn<\/strong>, down from EGP 3.01 mn in the same period last year, <a href=\"https:\/\/enterprise.press\/wp-content\/uploads\/2018\/08\/El-Sewedy-1h-2018-Earnings-Release-Final.pdf\">according to the company\u2019s earnings release (pdf)<\/a>. Revenues for the period fell 3% y-o-y to EGP 20.1 bn, largely due to a drop in the turnkeys project segment. Despite that, however, the company witnessed strong growth across its business lines as \u201cthe fundamentals supporting Elsewedy Electric\u2019s business remain strong: Populations in the MENA region and the GCC continue to grow at a quick pace and the movement towards industrial modernization has only intensified in the last year,\u201d CEO Ahmed Elsewedy said. Looking ahead, Elsewedy will focus on growth through the optimization of its cost and governance structure, as well as depend on its reputation and competitive edge to allow it \u201ccapture the upside across a variety of infrastructure projects.\u201d<\/p>\n<p><strong>Egypt Kuwait Holding (EKH) saw bottom-line growth for 2Q2018 gain a solid 46% y-o-y to USD 30.7 mn<\/strong>, <a href=\"http:\/\/resources.inktankir.com\/ekh\/EKH-ER-2Q2018-E-FINAL.pdf\">the company reported (pdf)<\/a>. EKH saw growth in revenues for the quarter rising 45% y-o-y to USD 116.1 mn. Revenue growth was driven by strong operational performances by subsidiary companies and supported by the commencement of operations at Offshore North Sinai (ONS). \"Our results in the second quarter of the year demonstrate the operational excellence of our portfolio companies,\u201d Chairman Moataz Al Alfi said. After having weathered macro and market headwinds and re-emerged as leaders in their respective markets, our subsidiaries today are delivering organic growth through a continued improvement in on-the-ground results and success in paving new growth avenues,\u201d he added. <strong>Moving forward:<\/strong> \u201cOur focus during the second half of the year will continue to be on operational improvements as a primary growth driver, all while pushing forward expansion initiatives across our subsidiaries and keeping an eye out for new [options], such as our ongoing investment in the production of medium-density fiberboards,\u201d Al Afifi said.<\/p>\n<p><strong>Orascom Development Holding (ODH) reported a net loss of CHF 16.4 mn in 1H2018<\/strong>, <a href=\"https:\/\/www.orascomdh.com\/news\/2018-08-orascom-development-holding-ag-breakevens\">the company said in its earnings release<\/a>. The results for the period reflect \u201ca one-off FX translation loss of CHF 16.7 mn...mainly related to the devaluation of the EGP in 2016.\u201d ODH delivered strong operational results, however, that \u201ccurbed bottom lines losses\u201d for the group, helping it break even.<\/p>\n<p><strong>Talaat Moustafa Group Holdings (TMG) reported an 11% y-o-y jump in net profit after taxes to EGP 774.21 mn in 1H2018<\/strong>, compared to EGP 696.54 mn in the same period last year, <a href=\"http:\/\/www.egx.com.eg\/downloads\/Bulletins\/220184_1.pdf\">according to an EGX filing (pdf)<\/a>. The company\u2019s revenues also increased to EGP 3.97 bn in 1H2018, marking a 19% y-o-y rise from EGP 3.33 bn.<\/p>\n<p><strong>Emaar Misr for Development posted a net profit of EGP 1.10 bn in 1H2018<\/strong>, compared to 976.95 mn in the same period last year, <a href=\"http:\/\/www.egx.com.eg\/arabic\/NewsDetails.aspx?NewsID=176682\">according to an EGX filing<\/a>.<\/p>\n<p><strong>Al Tawfeek Leasing (AT Lease) <\/strong><a href=\"http:\/\/www.at-lease.com\/Viewer\/Files\/UploadCenter\/Files\/025%20-%20Financial%20Statements%20%E2%80%93%20consolidated%20%E2%80%93%20%D8%A7%D9%84%D9%82%D9%88%D8%A7%D8%A6%D9%85%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D9%87%20%D8%A7%D9%84%D9%85%D8%AC%D9%85%D8%B9%D9%87%20%D8%A7%D9%84%D8%B1%D8%A8%D8%B9%20%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%89%202018.pdf\"><strong>posted a net profit (pdf)<\/strong><\/a><strong> after tax of EGP 17.9 mn in 2Q2018<\/strong>, up from EGP 13.8 mn during the same period last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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, largely due to a drop [&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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625799","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"1e5760e1-c54e-4c36-ae00-b8a39f26bde6","order":"0","is_powered_by":true,"section_story_id":"00dab88b-7533-4544-86db-bfcb472df184","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625785],"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: Elsewedy, EKH, ODE, TMG, Emaar Misr, and AT Lease report 1H2018 earnings - 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\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch: Elsewedy, EKH, ODE, TMG, Emaar Misr, and AT Lease report 1H2018 earnings\" \/>\n<meta property=\"og:description\" content=\"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, largely due to a drop [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-15T04:11:48+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\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Earnings Watch: Elsewedy, EKH, ODE, TMG, Emaar Misr, and AT Lease report 1H2018 earnings\",\"datePublished\":\"2018-08-15T04:11:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/\"},\"wordCount\":500,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/earnings-watch-elsewedy-ekh-ode-tmg-emaar-misr-and-at-lease-report-1h2018-earnings\/\",\"name\":\"Earnings Watch: Elsewedy, EKH, ODE, TMG, Emaar Misr, and AT Lease report 1H2018 earnings - 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Revenues for the quarter grew 12% y-o-y to EGP 11.2 bn from EGP 9.9 bn in 2018.\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":596398,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/27\/elsewedy-electric-profits-inches-down-2-6-y-o-y-in-2q2019\/","url_meta":{"origin":625799,"position":1},"title":"Elsewedy Electric Profits inches down 2.6% y-o-y in 2Q2019","author":"enterpriseam admin","date":"27 August 2019","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric\u2019s net profit dropped 2.6% y-o-y in 2Q2019 to EGP 957.8 mn, down from EGP 983.8 mn during the same period last year, the company said in its earnings release (pdf). Revenues increased 2.1% to EGP 10.3 bn, which the company says was driven primarily by its\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":573928,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/earnings-watch-elsewedy-electric-dice-egypt\/","url_meta":{"origin":625799,"position":2},"title":"Earnings Watch: ElSewedy Electric, Dice Egypt","author":"enterpriseam admin","date":"24 August 2020","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric reports 2Q2020 net profits falling 44.8% y-o-y: Elsewedy Electric reported a 44.8% y-o-y decline in net profits to EGP 514.17 mn in 2Q2020, largely as a result of covid-induced disruptions in the broader economy that has slowed operations, the company said yesterday in an earnings release\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":576575,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/30\/elsewedy-electric-np-fall-1-4-in-3q2020\/","url_meta":{"origin":625799,"position":3},"title":"Elsewedy Electric NP fall 1.4% in 3Q2020","author":"enterpriseam admin","date":"30 November 2020","format":false,"excerpt":"Elsewedy Electric reported a 1.4% y-o-y dip in 3Q2020 NP to EGP 817 mn from EGP 829 mn the year before, according to a company earnings release (pdf). Revenues during the three-month period fell 12.6% to EGP 11.3 bn from EGP 12.9 bn last year. On a nine-month basis, Elsewedy\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/318.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592921,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/12\/earnings-watch-elsewedy-electric-oriental-weavers-domty\/","url_meta":{"origin":625799,"position":4},"title":"Earnings watch: Elsewedy Electric, Oriental Weavers, Domty","author":"enterpriseam admin","date":"12 November 2019","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric\u2019s net profit dropped 22.2% to EGP 2.7 bn in 9M2019, down from EGP 3.5 bn during the same period last year, the company said in its earnings release (pdf). Revenues during the first nine months of 2019 increased 14.0% y-o-y to EGP 34.5 bn, which the\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":564215,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/17\/elsewedy-electrics-net-income-surges-73\/","url_meta":{"origin":625799,"position":5},"title":"Elsewedy Electric\u2019s net income surges 73%","author":"enterpriseam admin","date":"17 August 2021","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric saw its net income jump 73% to EGP 973.8 mn in 2Q2021, compared to EGP 562.3 mn in the same period last year, according to the company\u2019s earningsrelease(pdf). Revenues also rose almost 50% to EGP 13.7 bn during the three-month period, compared to EGP 9.3 bn\u2026","rel":"","context":"In &quot;SPEED ROUND: EARNINGS WATCH&quot;","block_context":{"text":"SPEED ROUND: EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-earnings-watch\/"},"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\/625799","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=625799"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625799\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/625785"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=625799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=625799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=625799"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=625799"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=625799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}