Subscribe to Egypt Claps
TMGH rakes in EGP 4.4 billion in Q1 despite no new real estate launches
Talaat Moustafa Group (TMGH) brought in EGP 4.4 billion in net profit for the first quarter of 2025, marking a 7% year-over-year (YoY) rise driven by growth across all its business segments, its latest earnings release showed.
The company notes that the profit hike is particularly notable for two reasons:
1) It comes without any new real estate launches during the period and while relying solely on organic volume and pricing growth in existing projects. 2) Last year’s net profit (growing 4.4x YoY to EGP 14.5 billion) was bolstered by “extraordinary FX gains” following the float of the EGP and one-off profits related to the Legacy Hotels acquisition—factors absent in this year’s performance, management noted. |
Revenues: Total revenues for the quarter surged 39% YoY to EGP 9.43 billion. The hospitality sector led this growth, with a 50% YoY increase in revenue to EGP 3.5 billion. The newly acquired Legacy Hotels portfolio significantly contributed to the result, adding scale and foreign currency inflows, TMGH said. Recurring income activities—including malls, clubs, utilities, and contracting—more than doubled their revenues, posting 116% YoY growth to EGP 2.1 billion. Meanwhile, real estate sales remained strong, reaching EGP 77.2 billion in Q1, up 25% from EGP 61.8 billion in the same period last year. More profit on the horizon:
As of March 31, 2025, TMG’s sales backlog reached EGP 350 billion—up 94% from EGP 180 billion a year earlier. This backlog, representing around 39,400 units, offers strong revenue visibility over the next four to five years. Post-quarter, the launch of SouthMed Phase 2 also generated EGP 70 billion in first-day sales alone, with revenues to be reflected in upcoming financial results. A target to replicate 2024’s success: TMGH is looking to maintain its FY 2025 total sales at levels comparable to the impressive result of FY 2024 (EGP 504 billion), which was equivalent to those of the nine largest real estate companies in the Egyptian market., according to its CEO. Its 2025 target would be driven by new project launches anticipated by year-end, like its new mixed-use development “Sharm Bay” in Sharm El Sheikh, according to a statement from the developer yesterday. |
Raya Holding kicks off 2025 with a strong Q1
|
Raya Holding reported a net profit after minority interest of EGP 370 million in the first quarter of 2025, up 12% YoY.
The modest profit growth came despite a sharp rise in costs—General & Administrative (up 38%) and Selling & Marketing (up 61%)—driven by continued investments in digital infrastructure and regional expansion.
Revenues climbed 24% YoY to EGP 12.9 billion, with 32% of the top-line coming in foreign currency, a 51% increase YoY, mitigating local inflation impact. |
|
Segments that boosted growth:
Retail & Distribution: up 3% YoY to EGP 5.4 billion in revenues. Technology & Infrastructure: +40% YoY to EGP 3.47 billion Fintech: up 35% YoY to EGP 1.72 billion Manufacturing: +81% YoY to EGP 1.04 billion Logistics: +54% YoY to EGP 746 million Business Process Outsourcing: The segment, which includes Raya Customer Experience (RACC), reported revenues of EGP 635 million in Q125, marking a 1.5% YoY growth. EGX-listed RACC itself brought in EGP 65.8 million in net profit in the first quarter, down 40.1% YoY
Milestones for Q1 included:
Launch of digital lending channels via Aman Holding and Tanmeyah. EGP 3 billion Sukuk issuance by Aman, approved by Egypt’s FRA. |
MM Groups hikes it profits 19% in Q1
MM Group For Industry And International Trade reported a 19% YoY increase in consolidated net profit to EGP 295 million in Q1 of 2025, supported by strong sales and higher earnings from associates. |
Revenues surged 96% YoY to EGP 5.42 billion, with several business lines contributing to the strong growth:
Consumer Electronics – representing 81.9% of total revenues — saw a 111.4% YoY surge to reach EGP 4.43 billion driven by continued demand in the mobile and home appliance sectors. Automotive, representing 16.7% of the top-line, saw a 49.1% YoY leap to reach EGP 906 million. Telecom also saw substantial growth, with revenue rising 14.0% YoY to reach EGP 69 million. Investment in associates: MM Group’s investment in associates also showed significant growth in Q125, with a gain of EGP 16 million, up from EGP 0.3 million in the same period last year. This improvement was driven by strong performances from B Pharma and Basta E-Payment. This helped offset a loss from Basata Financial Holding due to dividend distributions and underperformance in Basata Micro Finance, management noted. |
Egyptian Kuwaiti Holding Company has reported a notable decline in its consolidated net profit for the first quarter of 2025, posting USD 39.5 million compared to USD 72 million in Q1 2024.
EKH attributed its fall in profit to lower FX earnings. In Q1 2024, the company posted a USD 40.2 million FX gain—an exceptional boost after the float of the EGP that didn’t recur in Q1 2025.
Excluding last year’s extraordinary gains, adjusted net profit saw a 24% YoY increase this quarter, the company noted. |
Revenues:
The company’s top-line reached USD 195 million in Q1 2025, a modest increase of 1% YoY and a significant 17% quarter-over-quarter (QoQ) growth. The growth was driven by solid performances across several of the company’s core sectors, with particular strength seen in the fertilizers and petrochemicals divisions.
Alexfert, in particular, was a major contributor to the revenue increase, benefitting from higher urea export prices and a stable supply of natural gas during the period. Additionally, its subsidiaries Sprea Misr and Nat Energy, reported higher revenue from more sales and expanded operations, management noted.
Going forward:
The company’s CEO Jon Rokk said in March that EKHO will announce its first investment in Saudi Arabia’s oil and gas sector during Q2 of 2025, after completing the majority of the capital expenditures for the project.
He also noted that they are studying additional investment opportunities valued between USD 150-200 million during 2025 and 2026, in line with a planned expansion strategy.
These opportunities include developing a new project in Northern Europe, which will be a key driver for growth and enhancing the group’s value, as well as acquiring existing entities in Egypt or entering into strategic partnerships. |
What else is clapping?
- Oriental Weavers’ Q1 2025 financials showed a slight decline in profits, with net income reaching EGP 550.91 million, down from EGP 557.58 million in Q1 2024. Despite the dip in profit, sales rose to EGP 6.39 billion, up from EGP 5.03 billion during the same period last year.
- Taqa Arabia reported a 32% YoY hike in net income in Q125, raking in over EGP 136 million during the period. Its revenues crossed the EGP 5 billion threshold, reflecting a 50% annual growth rate.
- Misr National Steel (ATQA) reported a 70.6% YoY increase in profits for Q1 2025 to EGP 103.9 million. Sales also rose to EGP 2.02 billion, up from EGP 1.01 billion in the same period last year.
- El Shams Housing & Urbanization reported a slight YoY rise in Q1 2025 profits, reaching EGP 45.8 million, up from EGP 45.63 million in Q1 2024. Sales grew to EGP 38.85 million from EGP 31.02 million over the same period, its earnings release showed.
Latest CLAPS
