Egypt: Arabian Cement’s consolidated sales exceed $63mln in H1-24

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Cairo – Arabian Cement Company generated higher consolidated net profits at EGP 346.57 million in the first half (H1) of 2024, compared to EGP 337.09 million in H1-23.

The company posted sales valued at EGP 3.14 billion in H1-24, down year-on-year (YoY) from EGP 3.18 billion, according to the consolidated financial results.

Earnings per share (EPS) grew to EGP 0.90 in the January-June 2024 period from EGP 0.88 in H1-23.

Total assets hit EGP 4.14 billion as of 30 June 2024, versus EGP 3.88 billion at the end of December 2023.

Standalone Results

In the first six months (6M) of 2024, Arabian Cement registered standalone net profits after tax valued at EGP 339.89 million in H1-24, compared to EGP 340.55 million in the January-June 2023 period.

Non-consolidated EPS declined to EGP 0.88 in H1-24 from EGP 0.89 a year earlier, while the revenues enlarged to EGP 3.88 billion from EGP 3.13 billion.

Financials for Q2-24

In the second quarter (Q2) of 2024, the consolidated net profit of Arabian Cement hiked to EGP 193.92 million from EGP 95.31 million a year earlier.

Net sales climbed to EGP 2 billion in Q2-24 from EGP 1.47 billion in Q2-23, while the EPS increased to EGP 0.50 from EGP 0.24.

Meanwhile, the EGX-listed firm achieved EGP 189.35 million in standalone net profit during Q2-24, an annual plunge from EGP 97.51 million. The sales jumped to EGP 1.97 billion from EGP 1.45 billion.

In January-March 2024, Arabian Cement logged consolidated net profits after tax valued at EGP 152.64 million, down YoY from EGP 241.77 million.