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Egypt Aluminum targets over EGP 4bn profits in FY24/25

Egypt Aluminum targets over EGP 4bn profits in FY24/25
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Egypt Aluminum
EGAL
-0.05% 111.03 -0.05

Cairo – Mubasher: Egypt Aluminum is expecting to achieve a net profit of EGP 4.26 billion during the fiscal year (FY) 2024/2025, down from EGP 4.85 billion estimated in FY2023/2024.

The company seeks to generate EGP 26.69 billion in total sales during FY2024/25, down from EGP 25.96 billion targeted in the previous year, according to the estimated budget for FY24/25.

Local sales are forecast to reach EGP 10.58 billion in the 12-month period that will end on 30 June 2025, while exports are estimated to record EGP 16.10 billion in the same period.

Egypt Aluminum posted an EGP 3.43 billion in net profits after tax during the first half (H1) of FY2023/24, up 101% year-on-year (YoY) from EGP 1.70 billion.