{"id":642243,"date":"2017-08-09T04:12:12","date_gmt":"2017-08-09T04:12:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/09\/earnings-watch-gb-auto\/"},"modified":"2017-08-09T04:12:12","modified_gmt":"2017-08-09T04:12:12","slug":"earnings-watch-gb-auto","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/09\/earnings-watch-gb-auto\/","title":{"rendered":"Earnings watch- GB Auto"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>EARNINGS WATCH- Leading automotive assembler GB Auto reported a consolidated <\/strong><strong>net loss of EGP 150.9 mn in 2Q2017,<\/strong> compared to profit EGP 124.4 mn in the comparable period last year, according to the <a href=\"http:\/\/resources.ghabbourauto.com.s3.amazonaws.com\/gb-auto-er-2q17-e-final.pdf\">company\u2019s earnings release (pdf)<\/a>. This came despite a<strong> 6.3% y-o-y rise in total Group revenues to EGP 4.2 bn<\/strong> during the quarter, driven largely by growth in the company\u2019s motorcycle business and financing arm and other ancillary businesses, which balanced out the drop in the passenger car segment. \u201cThe Group recorded revenue gains for both the three and six-month periods even as the core automotive business continues to operate in a challenging environment,\u201d the release said. \u201cBottom-line profitability was muted by high interest expenses following the CBE\u2019s successive rate hikes since the float.\u201d<\/p>\n<p><strong>GB Auto is also sending a message that it sees its shares are undervalued<\/strong>, noting in its earnings release that it is now separately reporting \u201cthe core automotive and high-margin Financing Businesses. The two businesses are sharply different in terms of financing and capital structure as well as underlying risks.\u201d The new disclosure structure, it says, \u201cwill provide a true reflection of the business's net debt, facilitate more accurate valuations and reveal hidden value in the company's share.\u201d<\/p>\n<p>GB Auto will be holding its <strong>2Q2017 results conference call on Monday<\/strong>, 14 August at 4:00 pm CLT.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- Leading automotive assembler GB Auto reported a consolidated net loss of EGP 150.9 mn in 2Q2017, compared to profit EGP 124.4 mn in the comparable period last year, according to the company\u2019s earnings release (pdf). This came despite a 6.3% y-o-y rise in total Group revenues to EGP 4.2 bn during the quarter, [&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-642243","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"a5f742a3-8a03-4cd3-8c00-52420909d60c","order":"0","is_powered_by":true,"section_story_id":"3282ca9b-dcb2-4cc5-bdea-79c380e5a26c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[642231],"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- GB Auto - 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\/2017\/08\/09\/earnings-watch-gb-auto\/\" \/>\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\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Leading automotive assembler GB Auto reported a consolidated net loss of EGP 150.9 mn in 2Q2017, compared to profit EGP 124.4 mn in the comparable period last year, according to the company\u2019s earnings release (pdf). 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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 &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":573682,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/13\/earnings-watch-sodic-gb-auto-sarwa-capital-report-2q2020-results\/","url_meta":{"origin":642243,"position":1},"title":"Earnings watch: Sodic, GB Auto, Sarwa Capital report 2Q2020 results","author":"enterpriseam admin","date":"13 August 2020","format":false,"excerpt":"EARNINGS WATCH- Sodic\u2019s net profits fell 77% to EGP 40 mn in 2Q2020 fromEGP 175 mn during the same period last year, it said in its earnings release (pdf). Revenues dropped 40% during the period to EGP 645 mn as 13% of gross sales were canceled. The latest quarterly figures\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":558508,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/gb-auto-net-income-triples-in-2q-off-of-higher-revenues\/","url_meta":{"origin":642243,"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 &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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595866,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/earnings-watch-gb-auto-egypt-kuwait-holding-talaat-moustafa-group\/","url_meta":{"origin":642243,"position":3},"title":"Earnings watch: GB Auto, Egypt Kuwait Holding, Talaat Moustafa Group","author":"enterpriseam admin","date":"8 August 2019","format":false,"excerpt":"EARNINGS WATCH- GB Auto turns net loss in 2Q2019 as competition with zero-tariff EU imports bites: GB Auto posted a net loss of EGP 8.9 mn in 2Q2019, with revenues falling 6.3% y-o-y, according to a company earnings release (pdf). The bulk of the revenues during the quarter came from\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":569547,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/27\/earnings-watch-sodic-edita-gb-auto-tmg\/","url_meta":{"origin":642243,"position":4},"title":"Earnings watch: Sodic, Edita, GB Auto, TMG","author":"enterpriseam admin","date":"27 February 2020","format":false,"excerpt":"EARNINGS WATCH- Sodic reports strong growth in contracted sales, guides for 15% sales growth this year: Sodic\u2019s net profit rose 60% in 2019 to EGP 719 mn from EGP 449 mn the year before, the company said in its full-year earnings release (pdf). Revenue growth was driven by deliveries in\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":593017,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/14\/earnings-watch-orascom-development-egypt-gb-auto-credit-agricole-raya-holding-amoc\/","url_meta":{"origin":642243,"position":5},"title":"Earnings watch: Orascom Development Egypt, GB Auto, Credit Agricole, Raya Holding, AMOC,","author":"enterpriseam admin","date":"14 November 2019","format":false,"excerpt":"EARNINGS WATCH- Orascom Development Egypt (ODE) reported net profits of EGP 107.4 mn in 3Q2019, up from EGP 89.5 mn in 3Q2018. 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). 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