Subscribe to Egypt Claps

Arabian Cement’s net profits almost double, exports take the spotlight

We’re talking about a 94.3% hike in net profits

What

Arabian Cement Company’s 2023 consolidated earnings are out. Here are the key figures and insights you need to know…

Revenues:

It saw a 29.3% YoY increase in revenues, reaching EGP 6.04 billion.

Exports on the rise:

Local revenues climbed by only a slight 1.6% YoY. But exports surged by a whopping 173.7% YoY, reaching EGP 2.05 billion in 2023. Coupled with higher cement prices, it drove revenues upwards.

Gross Profit:

Reaching EGP 1.28 billion, gross profit surged by 44.9% YoY.

Gross Profit Margin:
- The gross profit margin increased by 2.3% YoY to 21.2%, suggesting improved cost management strategies.

Net Profit:

They almost doubled, soaring by 94.3% YoY to EGP 697.5 million.

Net Profit Margin:
- Inreased by 3.9% YoY, it expanded to 11.4%, reflecting a more efficient utilization of resources and a healthier bottom line.