{"id":668016,"date":"2025-07-08T00:00:00","date_gmt":"2025-07-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/qalaa-holdings-sees-revenues-rise-53-in-2024\/"},"modified":"2025-07-08T00:00:00","modified_gmt":"2025-07-08T00:00:00","slug":"qalaa-holdings-sees-revenues-rise-53-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/qalaa-holdings-sees-revenues-rise-53-in-2024\/","title":{"rendered":"Qalaa Holdings sees revenues rise 53% in 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qalaa H<\/strong><strong>olding<\/strong><strong>s<\/strong><strong> saw its revenues increase 53% y-o-y throughout 2024<\/strong>, coming in at EGP 148.9 bn for the 12-month period, which the company attributes to \u201csolid\u201d performance across its subsidiaries, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/435.pdf\" style=\"\" rel=\"noopener\">p<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/435.pdf\" style=\"\" rel=\"noopener\">ress releas<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/435.pdf\" style=\"\" rel=\"noopener\">e (pdf)<\/a>. Despite the jump in revenues, the company saw its bottom line dip 2% y-o-y to EGP 6.4 bn as refining margins from its Egyptian Refining Company (ERC) shrank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The main driver of top line growth was its USD revenue from ERC<\/strong>, which the company mostly attributed to the devaluation of the EGP. ERC also wrapped up its senior and subordinated restructuring in December 2024 and is \u201con track to fully settle its senior debt ahead of schedule,\u201d which currently stands at USD 228.0 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis, revenues were up 35% y-o-y in 4Q<\/strong>, coming in at EGP 35.6 bn, which the company also attributes to ERC. The same period registered a 91% y-o-y drop in net income to EGP 420.7 mn due to one-off gains in 4Q 2023 from divesting Taqa Arabia shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cMoving forward, we will continue pushing ahead with our growth strategies across our diverse platforms over the coming months. I am confident that the group\u2019s outlook remains bright despite the challenging market conditions, and we will continue pushing forward with our strategy of undertaking small, incremental investments with the aim of continuously advancing Qalaa\u2019s investments portfolio,\u201d Qalaa Holdings Chairman Ahmed Heikal said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- TMG Holding saw new sales rise 59% y-o-y in 1H 2025 to EGP 211 bn<\/strong>, which the company said was driven by sales at its SouthMed, Madinaty, Privado, Noor, Celia, and Saudi Banan projects, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/437.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/437.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The company expects further growth as it follows through with its Iraq and Oman expansions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On a quarterly basis, Qalaa Holdings\u2019 revenues were up 35% y-o-y in 4Q<\/p>\n","protected":false},"author":1,"featured_media":668017,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7208],"tags":[409,72,613,1517],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-668016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam","tag-qalaa-holdings","tag-talaat-moustafa-group","wpautop","entry"],"acf":{"mongo_id":"9e75c866-a92a-4bca-8826-56ee823691d1","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/2221.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Qalaa Holdings sees revenues rise 53% in 2024","related_issue":[667999],"teaser":"On a quarterly basis, Qalaa Holdings\u2019 revenues were up 35% y-o-y in 4Q","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.3c480533-e17f-4511-9de9-408a0d985af5.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Revenues jumped 86% y-o-y to EGP 23.7 bn during the quarter, driven by the Egyptian Refining Company\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\/2022\/12\/361.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557239,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/qalaa-losses-ease-in-2q2021-on-stronger-revenues\/","url_meta":{"origin":668016,"position":1},"title":"Qalaa losses ease in 2Q2021 on stronger revenues","author":"enterpriseam admin","date":"12 September 2021","format":false,"excerpt":"Qalaa Holdings\u2019 losses eased to EGP 401.5 mn in 2Q2021 from EGP 712.1 mn in the same period last year, according to the company\u2019s earnings release (pdf). Revenues were up 37% y-o-y to hit EGP 10.2 bn in the April-June period, extending pandemic-era growth that saw the company\u2019s top line\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\/2021\/9\/146.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549821,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/qalaa-holdings-reports-first-quarter-in-black-since-2018-in-2q-2022\/","url_meta":{"origin":668016,"position":2},"title":"Qalaa Holdings reports first quarter in black since 2018 in 2Q 2022","author":"enterpriseam admin","date":"2 October 2022","format":false,"excerpt":"Qalaa Holdings returned to the black for the first quarter since 2018 in 2Q 2022 on the back of record revenues driven by improved refining margins at the Egyptian Refining Company (ERC). The company generated a net income of EGP 361.6 mn during the April-June quarter, compared to EGP 401.5\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\/2022\/10\/102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586626,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/15\/qalaa-revenues-more-than-double-in-2022-on-record-refining-margins-plus-cib-ode-report-1q23-earnings\/","url_meta":{"origin":668016,"position":3},"title":"Qalaa revenues more than double in 2022 on record refining margins. PLUS: CIB, ODE report 1Q23 earnings","author":"enterpriseam admin","date":"15 May 2023","format":false,"excerpt":"High oil prices fueled a 162% rise in revenues at the Egyptian Refining Company","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\/2023\/5\/778.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626465,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/03\/earnings-watch-qalaa-holdings-revenues-rise-48-losses-narrow-54-y-o-y-in-1q2018\/","url_meta":{"origin":668016,"position":4},"title":"Earnings Watch: Qalaa Holdings revenues rise 48%, losses narrow 54% y-o-y in 1Q2018","author":"enterpriseam admin","date":"3 July 2018","format":false,"excerpt":"EARNINGS WATCH- Qalaa Holdings revenues rise 48%, losses narrow 54% y-o-y in 1Q2018: Qalaa Holdings\u2019 revenues rose 48% y-o-y in 1Q2018 to EGP 3.1 bn \u201cdue to stellar performance of its key segments, broad-based economic recovery, and a favorable regulatory environment,\u201d the company said in a regulatory filing (pdf). 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