{"id":628889,"date":"2018-05-16T04:12:02","date_gmt":"2018-05-16T04:12:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/16\/earnings-watch-edita-ekh-qalaa-cleopatra-hospitals-palm-hills-nbk-egypt-ode\/"},"modified":"2018-05-16T04:12:02","modified_gmt":"2018-05-16T04:12:02","slug":"earnings-watch-edita-ekh-qalaa-cleopatra-hospitals-palm-hills-nbk-egypt-ode","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/16\/earnings-watch-edita-ekh-qalaa-cleopatra-hospitals-palm-hills-nbk-egypt-ode\/","title":{"rendered":"Earnings Watch: Edita, EKH, Qalaa, Cleopatra Hospitals, Palm Hills, NBK Egypt, ODE"},"content":{"rendered":"

<\/a> EARNINGS WATCH- <\/strong>Plenty of our friends in corporate Egypt have reported results in the past 24 hours:<\/p>\n

Edita Food Industries reported a 50.8% y-o-y jump in its bottom line for 1Q2018 to EGP 60.9 mn<\/strong>, up from EGP 40.4 mn in the comparable quarter last year. Net profit climbed on the back of higher revenues, which rose by 37.9% y-o-y to EGP 886.1 mn. \u201cThe first quarter of 2018 has yielded solid results for Edita with strong volume recovery and volume-driven growth serving as evidence that difficult times are now behind us,\u201d Chairman and CEO Hani Berzi said. \u201cWe\u2019re seeing demand rising and consumers increasingly adapting to our new price points, especially at the croissant segment which posted the strongest growth in volumes and was the largest contributor to revenue growth during the period.\u201d The company will continue to emphasize volume recovery in the months ahead, paying special attention to export markets. \u201cI remain confident in our ability to continue satisfying consumer demand and in parallel creating value for our shareholders,\u201d Berzi said. \u201cWe are also excited to be venturing further beyond our borders and look forward to increased contributions from export markets as a pillar of our long-term growth strategy.\u201d Tap or click here to view<\/a> the company\u2019s full earnings release (pdf).<\/p>\n

Egypt Kuwait Holding (EKH) saw bottom-line growth for 1Q2018 gain a solid 16% y-o-y to USD 32.6 mn<\/strong>, the company reported (pdf)<\/a>. EKH saw record growth in revenues for the quarter, rising 11% y-o-y to USD 118.8 mn. Revenue growth was driven by improved on-the-ground performance and strong operational results. \u201cOur exceptional performance during the quarter was partly driven by the commencement of operations at ONS, a development that positions us today as the sole, fully-integrated energy company in Egypt,\u201d Chairman Moataz Al Alfi said. A play on subsidy reforms and Egypt as a regional energy hub: <\/strong>\u201cAt a time when Egypt is carving its space as a regional natural gas hub with increased liberalization and subsidy reform, EKH stands to benefit through its upstream gas production, its midstream gas distribution, and its downstream gas-fired electricity generation and gas-fed industrials such as fertilizers and petrochemicals,\u201d Al Alfi added.<\/p>\n

Qalaa Holdings reports FY2017 results: <\/strong>Qalaa Holdings reported a net loss of EGP 4.71 bn in FY2017, \u201cdriven primarily by EGP 4.26 bn in impairments booked during the year, which management expects to be the final round of significant impairments, as well as by EGP 434.1 mn in losses from discontinued operations.\u201d The company\u2019s revenues rose 22% y-o-y to EGP 9.28 bn \u201con the back of strong growth from its energy subsidiaries TAQA Arabia and Tawazon, as well as ASCOM, its operational platform in the mining sector,\u201d according to the company\u2019s earnings release (pdf)<\/a>. \u201cQalaa\u2019s full-year results reflect the ongoing transformation across our portfolio companies, with several platforms gearing-up for a new growth phase,\u201d said Chairman and Founder Ahmed Heikal. \u201cEnergy, mining, cement, and transportation plays continued to capitalize on the prevailing economic trends and turn new market dynamics into growth opportunities and into avenues to create shareholder value.\u201d Looking ahead:<\/strong> With operations at the Egyptian Refining Company set to start in 2019, Qalaa is confident that \u201c2017 was an inflection point for Qalaa and that 2018 and beyond will witness further improvement in our financial results leading to a positive bottom-line in 2019,\u201d Co-Founder and Managing Director Hisham El-Khazindar said.<\/p>\n

Cleopatra Hospitals Group\u2019s consolidated net profit after tax rose 97% y-o-y to EGP 57.2 mn in 1Q2018<\/strong>, up from EGP 29.1 mn, the company said in its earnings release (pdf)<\/a>. Revenues came in 32% higher y-o-y at EGP 347.2 mn. Cleopatra Hospital was the largest contributor to group revenues for the quarter at 45% of the total. \u201cOur strong results in the first quarter of the year reflect the merits of our strategic initiatives and the success of our integration drive that is increasingly delivering value at our top-line and simultaneously allowing us to maximize efficiency and extract cost-savings while staying true to our commitment to patient safety and service quality,\u201d Group CEO Ahmed Ezzeldin said. The group will continue infrastructure upgrades and press ahead with its CAPEX program over the coming period, which will see \u201ccomplete renovations\u201d in several of the group\u2019s facilities.<\/p>\n

Palm Hills Development (PHD) reported a 5.3% y-o-y increase in 1Q2018 net profit after tax to EGP 224.2 mn<\/strong>, up from EGP 212.3 mn in the same period last year, according to an EGX filing (pdf)<\/a>. Revenues came in at EGP 1.47 bn for the first three months, down from EGP 1.59 bn last year.<\/p>\n

Orascom Development Egypt (ODE) reported a net profit after tax of EGP 83 mn in 1Q2018,<\/strong> up from EGP 75.9 mn during the same period last year, according to an EGX filing<\/a>. Revenues<\/a> also rose to EGP 654.9 mn, compared to EGP 493.8 mn last year.<\/p>\n

The National Bank of Kuwait Egypt reported 1Q2018 net profits of EGP 496.9 mn, <\/strong>up from EGP 329.5 mn in the same period last year, according to an EGX filing (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Plenty of our friends in corporate Egypt have reported results in the past 24 hours: Edita Food Industries reported a 50.8% y-o-y jump in its bottom line for 1Q2018 to EGP 60.9 mn, up from EGP 40.4 mn in the comparable quarter last year. Net profit climbed on the back of higher revenues, […]<\/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-628889","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"19ce9b2b-e335-48f7-87ac-919474fe3223","order":"0","is_powered_by":true,"section_story_id":"7a347530-8cd7-4043-80cf-e9698fd28e26","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628875],"teaser":"","voice_url":""},"yoast_head":"\nEarnings Watch: Edita, EKH, Qalaa, Cleopatra Hospitals, Palm Hills, NBK Egypt, ODE - 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\/05\/16\/earnings-watch-edita-ekh-qalaa-cleopatra-hospitals-palm-hills-nbk-egypt-ode\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch: Edita, EKH, Qalaa, Cleopatra Hospitals, Palm Hills, NBK Egypt, ODE\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Plenty of our friends in corporate Egypt have reported results in the past 24 hours: Edita Food Industries reported a 50.8% y-o-y jump in its bottom line for 1Q2018 to EGP 60.9 mn, up from EGP 40.4 mn in the comparable quarter last year. 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Revenues from the quarter reached EGP 982.2 mn, up 10.8% y-o-y, while net profit\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":573394,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/04\/earnings-watch-edita-mm-group-report-1h2020-results\/","url_meta":{"origin":628889,"position":1},"title":"Earnings watch : Edita, MM Group report 1H2020 results","author":"enterpriseam admin","date":"4 August 2020","format":false,"excerpt":"EARNINGS WATCH- Pandemic lockdown weighed on Edita\u2019s 2Q2020 performance: The covid-19 pandemic and the partial lockdown the government imposed weighed on Edita\u2019s profitability during the second quarter of the year, leading the snack food maker to report a 90.3% y-o-y drop in net profit to EGP 3.1 mn in 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":597593,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/31\/earnings-watch-edita-net-profit-increases-26-3-y-o-y-in-2q2019\/","url_meta":{"origin":628889,"position":2},"title":"Earnings watch: Edita net profit increases 26.3% y-o-y in 2Q2019","author":"enterpriseam admin","date":"31 July 2019","format":false,"excerpt":"EARNINGS WATCH- Edita net profit increases 26.3% y-o-y in 2Q2019: Snack food maker Edita recorded a 26.3% y-o-y increase in net profit for 2Q2019 to EGP 31.7 mn, according to the company\u2019s earnings release (pdf). Revenues from the quarter reached EGP 862.8 mn, up 9.3% y-o-y. Commenting on the results,\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":546422,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/earnings-edita-abk-egypt\/","url_meta":{"origin":628889,"position":3},"title":"Earnings: Edita, ABK Egypt","author":"enterpriseam admin","date":"16 May 2022","format":false,"excerpt":"Edita Food Industries\u2019 net income rose 86% y-o-y in 1Q 2022 to EGP 148.1 mn, according to the company\u2019s latest earnings release (pdf). The company said that bottom line growth \u201creflected improved performance down the income statement\u201d, with revenues jumping 34% y-o-y to EGP 1.56 bn, backed by strong performance\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\/5\/195.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594503,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/31\/earnings-watch-edita-net-profit-jumps-19-2-in-3q2019\/","url_meta":{"origin":628889,"position":4},"title":"Earnings watch: Edita net profit jumps 19.2% in 3Q2019","author":"enterpriseam admin","date":"31 October 2019","format":false,"excerpt":"EARNINGS WATCH- Edita net profit jumps 19.2% y-o-y in 3Q2019: Leading snack food maker Edita\u2019s net profit rose 19.2% y-o-y in the third quarter to EGP 106.6 mn, according to the company\u2019s earnings release (pdf). Revenues for the quarter reached EGP 1.09 bn, up 7% y-o-y. Commenting on the results,\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":571449,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/earnings-watch-edita-profit-falls-by-44-in-1q2020-cleopatra-hospitals-on-track-for-50-profit-gain\/","url_meta":{"origin":628889,"position":5},"title":"Earnings watch: Edita profit falls by 44% in 1Q2020; Cleopatra Hospitals on track for 50% profit gain","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"EARNINGS WATCH- Edita quarterly profit hit by covid-19: The covid-19 pandemic sapped Edita\u2019s profitability during 1Q2020, with the snack food maker reporting yesterday (pdf) a 44% y-o-y drop in net profit. The company announced it had generated EGP 64.4 mn in profits during the three-month period, down substantially from 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628889","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=628889"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628889\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628875"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628889"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628889"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}