Egypt: Qalaa Holdings records 86% YoY growth in Q3 consolidated revenue

Egypt: Qalaa Holdings records 86% YoY growth in Q3 consolidated revenue

Qalaa Holdings (CCAP) posted an 86% year-on-year (YoY) growth in consolidated revenue for the third quarter (Q3) of 2022, recording EGP 23.7 billion, according to an emailed press release on December 15th.

Excluding Egyptian Refining Company (ERC), Qalaa’s revenues increased by 25% YoY to EGP 5.9 billion in Q3 2022.

TAQA Arabia’s revenue rose by 19% YoY in the three-month period ended September 30th to EGP 2.9 billion.

Moreover, National Printing recorded a 67% YoY top-line hike in Q3 2022, while ASCOM reported a 55% YoY increase in top-line to EGP 357.3 million in the same quarter.

As for ASEC Holding’s revenue, it was stable at EGP 977.9 million in Q3 2022, while Dina Farms Holding’s revenue amounted to EGP 327 million, and Nile Logistics’ revenue reached EGP 89.9 million.

At the level of Qalaa’s bottom-line, the group recorded a net income after minority of EGP 16.7 million in Q3 2022, versus a net loss of EGP 440.7 million in Q3 2021.

Qalaa Holdings, formerly Citadel Capital, is an Egypt-based company engaged in private equity investment activities.

The company manages an investment portfolio that consists of 19 opportunity-specific funds and spans 14 industrial sectors such as energy, cement manufacturing, solid waste management, real estate, mining, agricultural, glass