Qalaa reports revenue growth of 25% year-on-year in 2Q17 to EGP 2.3 bn as it capitalizes on the favorable economic environment and on the back of improved operational performance across all sectors led by energy and cement. EBITDA records growth of 76% year-on-year to EGP 167.4 mn driven by higher contributions from ASCOM, Gozour and Tawazon; Egyptian Refining Company reaches 95% completion
1 October 2017 Download
Despite double digit topline growth and important headways in restructuring efforts, Qalaa recorded bottom-line loss of EGP 2.8 bn driven predominantly by the full impairment of Africa Railways' assets in Kenya; substantial gain on consolidated income statement anticipated once Qalaa cedes control of Africa Railways and deconsolidates its liabilities in the coming period.