{"id":630900,"date":"2018-03-05T04:31:50","date_gmt":"2018-03-05T04:31:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/05\/earnings-watch-gb-auto-cleopatra-hospitals-group-ibnsina-pharma-oriental-weavers-report-2017-results\/"},"modified":"2018-03-05T04:31:50","modified_gmt":"2018-03-05T04:31:50","slug":"earnings-watch-gb-auto-cleopatra-hospitals-group-ibnsina-pharma-oriental-weavers-report-2017-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/05\/earnings-watch-gb-auto-cleopatra-hospitals-group-ibnsina-pharma-oriental-weavers-report-2017-results\/","title":{"rendered":"Earnings Watch: GB Auto, Cleopatra Hospitals Group, Ibnsina Pharma, Oriental Weavers report 2017 results"},"content":{"rendered":"

<\/a> EARNINGS WATCH- GB Auto reported a consolidated net loss of EGP 666.9 mn in 2017<\/strong>, narrowing from EGP 865.7 mn the previous year, according to a company statement (pdf)<\/a>. Top line for the year rose 15.5% y-o-y to EGP 17.56 bn. Last year saw the group taking steps to return to profitability, CEO Raouf Ghabbour said. \u201cWe are confident that the increased appetite for our automotive products, will see us steadily regain our market share to our historical rate of 33% and improve our margins.\u201d Ghabbour stressed the importance of passing the Automotive Directive<\/strong> to capitalize on the \u201cpositive sentiment finding its way back to the automotive market\u201d and \u201cthe window of opportunity to become an automotive hub in the region.\u201d Tap or click here for the full earnings release (pdf)<\/a>.<\/p>\n

Cleopatra Hospitals Group\u2019s consolidated net profit rose 32% y-o-y to EGP 118.2 mn in 2017<\/strong>, up from EGP 89.4 mn in 2016, the company said in its earnings release (pdf)<\/a>. Revenues came in 30% higher y-o-y at EGP 1.126 bn, with the rise \u201csupported by improved case mix and pricing.\u201d Cleopatra Hospital was the largest contributor to group revenues for the year with 44% of the total. \u201c2017 was a milestone year for the Group which saw us deliver on several strategic fronts,\u201d Group CEO Ahmed Ezzeldin said, pointing to business development initiatives, platform integration, investing in infrastructure and technology upgrades, and pushing ahead with its acquisition and expansion strategy. \u201cWe are heading into 2018 have reshaped our organization and positioned the Group for further growth and value creation for all our stakeholders.\u201d<\/p>\n

Ibnsina Pharma reported an 88.9% y-o-y jump in net profit to EGP 192.1 mn<\/strong>, up from EGP 101.7 mn a year before, according to an EGX filing<\/a>. Revenue for the year came in at EGP 9.59 bn, up from EGP 7.21 bn in FY2016. On a Q4-basis, Ibnsina\u2019s net profit more than doubled y-o-y to EGP 49.1 mn, up from EGP 20.1 mn. The company recorded its largest contribution to revenues from its retail pharmacies segment as it reported its maiden earnings as a publicly traded company. The earnings results came just one day after the Cairo Court of Appeals agreed to hear the company\u2019s appeal of lower court verdict imposing a fine for allegedly colluding with industry rivals. The lower court verdict is now set aside pending; the first hearing in the case is due to take place in May 2018.<\/p>\n

Oriental Weavers saw its consolidated net profit rise 40.2% y-o-y to EGP 742 mn<\/strong> in 2017, up from EGP 529 mn the previous year, the company said in a regulatory filing (pdf)<\/a>. The rise in profits came on the back of a 50% y-o-y increase in sales revenues, which recorded EGP 10.174 bn in 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- GB Auto reported a consolidated net loss of EGP 666.9 mn in 2017, narrowing from EGP 865.7 mn the previous year, according to a company statement (pdf). Top line for the year rose 15.5% y-o-y to EGP 17.56 bn. Last year saw the group taking steps to return to profitability, CEO Raouf Ghabbour […]<\/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-630900","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0af21f9e-bf27-4b3f-87a0-966c2368553e","order":"0","is_powered_by":true,"section_story_id":"d156d108-c8f7-42e1-b837-9d449da16a78","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630887],"teaser":"","voice_url":""},"yoast_head":"\nEarnings Watch: GB Auto, Cleopatra Hospitals Group, Ibnsina Pharma, Oriental Weavers report 2017 results - 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\/03\/05\/earnings-watch-gb-auto-cleopatra-hospitals-group-ibnsina-pharma-oriental-weavers-report-2017-results\/\" \/>\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, Cleopatra Hospitals Group, Ibnsina Pharma, Oriental Weavers report 2017 results\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- GB Auto reported a consolidated net loss of EGP 666.9 mn in 2017, narrowing from EGP 865.7 mn the previous year, according to a company statement (pdf). 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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":628736,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/gb-auto-reports-1q2018-results\/","url_meta":{"origin":630900,"position":1},"title":"GB Auto reports 1Q2018 results","author":"enterpriseam admin","date":"13 May 2018","format":false,"excerpt":"EARNINGS WATCH- Leading Automotive player GB Auto has returned to profitability, reporting a net profit after tax of EGP 33.5 mn in 1Q2018 compared to a net loss of EGP 154.5 mn in the same period last year, according to the company\u2019s earnings newsletter (pdf). \u201cWe are now more than\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":558508,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/gb-auto-net-income-triples-in-2q-off-of-higher-revenues\/","url_meta":{"origin":630900,"position":2},"title":"GB Auto net income triples in 2Q off of higher revenues","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"GB Auto\u2019s net income more than tripled to EGP 374.3 mn in 2Q2021, compared to EGP 115.8 mn in the same period last year, the company said in an earnings release(pdf). Revenues surged by 81% y-o-y to EGP 7.27 bn during the quarter thanks to improved market conditions and stronger\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562247,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/gb-auto-net-income-doubles-in-1q-amid-higher-demand\/","url_meta":{"origin":630900,"position":3},"title":"GB Auto net income doubles in 1Q amid higher demand","author":"enterpriseam admin","date":"17 May 2021","format":false,"excerpt":"GB Auto\u2019s net income more than doubled to EGP 299 mn in 1Q2021 compared to EGP 138 mn in the same quarter last year, according to the company\u2019s earnings release (pdf). Revenues rose 16% to hit EGP 6.8 bn during the quarter, compared to EGP 5.9 bn a year earlier,\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571566,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/earnings-watch-gb-auto-eipico-adib-credit-agricole-egypt-report-1q2020-results\/","url_meta":{"origin":630900,"position":4},"title":"Earnings watch: GB Auto, EIPICO, ADIB, Credit Agricole Egypt report 1Q2020 results","author":"enterpriseam admin","date":"17 May 2020","format":false,"excerpt":"EARNINGS WATCH- GB Auto posted net profits of EGP 138.4 mn in 1Q2020, soaring 430.6% y-o-y from EGP 26.1 mn during the same quarter last year, according to an earnings release (pdf). Revenues during the quarter inched up 0.8% to EGP 5.89 bn. The company\u2019s auto and auto-related (A&AR) segment\u2019s\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":548598,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/15\/gb-auto-shrugs-off-auto-sector-headwinds-to-post-31-bottom-line-growth\/","url_meta":{"origin":630900,"position":5},"title":"GB Auto shrugs off auto sector headwinds to post 31% bottom line growth","author":"enterpriseam admin","date":"15 August 2022","format":false,"excerpt":"GB Auto net income up 31% in 2Q despite market challenges: GB Auto shrugged off the multiple headwinds facing the Egyptian automotive sector in 2Q 2022, announcing yesterday that its bottom line grew by almost a third during the quarter thanks to strong consumer demand. 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