Industry News

Egypt Aluminium achieves 45% of previous year’s net profit in only Q1, marking 160% Y-o-Y growth

Views : 42
Update time : 2024-11-15 19:33:13
Aluminium Co. of Egypt (Egyptalum), a subsidiary of the Metallurgical Industries Company and a leading player in the aluminium industry, has announced its fiscal results for the first quarter of FY2024-25 ended September 30, highlighting a striking increase in net profit and revenue.

According to the Q1 figures, Egyptalum yielded a net profit of EGP 4.23 billion after tax, up by 160 per cent Y-o-Y from EGP 1.63 billion. The company earned more profit in a single quarter than it secured in six months of the previous year. In the first six months of FY2024, Egypt Aluminium achieved a profit of EGP 3.43 billion, again up by 101 per cent Y-o-Y from EGP 1.7 billion.

The above data shows a steady growth trend in Egyptalum’s net profit over the past two years. During the period under review, Egyptalum’s revenue hit EGP 11.33 billion, marking an 80 per cent Y-o-Y jump from EGP 5.99 billion.

The basic earnings per share (EPS) increased to EGP 3.39 billion in Q1 FY2025 from EGP 1.30 in the year-ago period.

In the fiscal year of 2024, which ended on June 30, Egyptalum logged net profits worth EGP 9.32 billion, of which about 45 per cent is achieved in the first quarter of FY2025.

Following the publication of the stellar performance, Egyptalum’s share price grew on November 14 from EGP 112.76 to EGP 114.95, reaching as high as EGP 115.69 intermittently.

Related News
Read More >>
Alcoa’s San Ciprián smelter streamlines operations, stakeholders unveil strategic roadmap Alcoa’s San Ciprián smelter streamlines operations, stakeholders unveil strategic roadmap
Jan .23.2025
Alcoa’s San Ciprián smelter streamlines operations, stakeholders unveil strategic roadmap
Viva unveils SOLID X: India's first ready-to-install solid aluminium panels at BAU Expo Viva unveils SOLID X: India's first ready-to-install solid aluminium panels at BAU Expo
Jan .23.2025
Viva unveils SOLID X: India's first ready-to-install solid aluminium panels at BAU Expo
December aluminium extrusion exports fell over 40% M-o-M, likely to remain weak in the short term December aluminium extrusion exports fell over 40% M-o-M, likely to remain weak in the short term
Jan .23.2025
December aluminium extrusion exports fell over 40% M-o-M, likely to remain weak in the short term
Spot alumina transaction prices in northern regions continue to narrow decline; spread between futures and spot prices continues to narrow Spot alumina transaction prices in northern regions continue to narrow decline; spread between futures and spot prices continues to narrow
Jan .23.2025
Spot alumina transaction prices in northern regions continue to narrow decline; spread between futures and spot prices continues to narrow