Egypt: GB Corp's consolidated profits surge 59.6% YoY in H1 2025
Total sales revenues hit EGP 35.850 billion in H1 2025, an annual leap of 86.9% from EGP 19.181 billion.
Nader Ghabbour, CEO of GB Corp, commented: 'The first half of 2025 was a period of significant progress for GB Corp as we delivered strong revenue and earnings growth, while advancing key strategic priorities across our Auto and Capital segments.'
He elaborated: 'On the Auto side, we delivered robust year-on-year volume growth across Egypt, Iraq and Jordan, strengthened our market leadership at home, and expanded into the premium segment with the successful launch of Genesis.
'Our new CKD production plant in Sadat is progressing on schedule, with partial operations commencing this quarter and full operations expected by Q4 2025,' the CEO revealed.
© 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
6 hours ago
- The National
Iraq signs agreement with US energy giant Chevron on oil exploration
Iraqi Prime Minister Mohammed Shia Al Sudani announced an agreement in principle on Tuesday between the Ministry of Oil and US energy company Chevron. Mr Al Sudani's office said the agreement includes four exploration blocks, the development of the Balad oilfield and possibly other fields and projects. During a meeting with Chevron vice president Frank Mount in Iraq, Mr Al Sudani welcomed the company's return to work in the country, 'affirming that the government has adopted a different approach in dealing with major oil companies and their investments in Iraq, particularly American ones', his office said. Mr Al Sudani also spoke of Chevron's efforts in transferring oil technology to Iraq, its community contributions and environmental policies it follows in its oil projects. Mr Mount celebrated the "heads of agreement" with Iraq as an important milestone. 'Iraq is a major producer of crude oil and holds substantial oil and gas resources," he said in a statement. "We are confident that Chevron, with its proven track record and expertise in successfully developing oil and gas projects, has the resources, experience and technology to support Iraq to further develop new energy resources.' The agreement in principle follows one made by US company SLB – formerly known as Schlumberger – in July. The contract signed between Iraq's Ministry of Oil and SLB was aimed at boosting natural gas production at the Akkas gasfield. Iraq's Oil Minister Hayan Abdel Ghani said at the time that the deal aimed to raise production levels to 100 million standard cubic feet a day. Mr Al Sudani also held talks with Baker Hughes chief executive Lorenzo Simonelli this year to discuss the US energy technology company's projects in Iraq. Despite being the second-largest producer in Opec, Iraq still depends on Iran for about a third of its electricity needs. Baghdad has come under increasing pressure from Washington to be less reliant on Tehran.
Zawya
9 hours ago
- Zawya
Egypt, Japan sign 12 investment agreements covering strategic sectors
Egypt and Japan have signed 12 agreements and letters of intent in various strategic sectors during the Egyptian-Japanese Investment Forum, held on August 18th, in Yokohama, in the presence of Prime Minister Mostafa Madbouly, as per a statement. The agreements, announced on the sidelines of Madbouly's participation in the ninth Tokyo International Conference on African Development (TICAD 9), aim to boost bilateral investment, deepen local production, and enhance supply chains, exports, and trade with neighboring markets. The agreements covered sectors such as education, renewable energy, industry, infrastructure, tourism, logistics, and information technology. Among the most notable deals was an agreement between the Ministry of Education and Technical Education and the Tokyo Metropolitan Government to cooperate on technical and vocational education, alongside a separate partnership with Casio Middle East to support mathematics teaching. Additional agreements were signed with Yamaha Corporation to enhance music education in 100 schools and with Japanese company SPRIX to develop math and IT curricula modeled on the Japanese system. In the energy sector, the Suez Canal Economic Zone (SCZone), Itochu Corporation, and Orascom Construction agreed to develop green fueling facilities for ammonia-powered ships, while the authority also signed with the Tokyo Metropolitan Government to cooperate on green hydrogen projects. Toyota Tsusho Corporation signed two agreements: one with Egypt's Ministries of Industry and Investment to localize automotive manufacturing and another with the Egyptian-Japanese University of Science and Technology to support scholarship programs. Other agreements included partnerships in tourism and hospitality training, technology transfer, research and development, and manufacturing of electronics and visual devices. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Zawya
9 hours ago
- Zawya
Egypt: Contact's consolidated net profits fall in H1-25
Contact Financial Holding generated consolidated net profits after tax amounted to EGP 178.21 million during the first half (H1) of 2025, reflecting a 7.82% decline from EGP 193.37 million in H1-24. The company posted EGP 1.32 billion in insurance revenues as of 30 June 2025, versus EGP 821.89 million in the corresponding period last year, according to the financial statements. The group's gross written premiums (GWPs) hit EGP 1.88 billion in H1-25, signaling a 55% year-on-year (YoY) surge from EGP 1.21 billion. Total operating income hiked by 24% to EGP 1.12 billion for the six-month period that ended on 30 June 2025 from EGP 909 million. Meanwhile, the earnings per share (EPS) amounted to EGP 0.10 in H1-25, down YoY from EGP 0.14. Standalone Results In H1-25, Contact suffered higher non-consolidated net losses after tax worth EGP 20.59 million, against EGP 1.15 million in the year-ago period. Loss per share stood at EGP 0.017 as of 30 June 2025, versus EGP 0.001 in H1-24. Financial Statements for Q2 In the second quarter (Q2) of 2025, the company's consolidated net profits reached EGP 98.16 million, an annual plunge from EGP 173.80 million in Q2-24. Insurance revenues jumped to EGP 708 million in Q2-25 from EGP 464.66 million in Q2-24, while the EPS dropped to EGP 0.05 from EGP 0.13. During the April-June 2025 period, the group shifted to standalone net losses after tax valued at EGP 8.42 million, against a net profit of EGP 2.70 million in Q2-24. The management of Contact commented: 'As we enter H2-25, we are optimistic that the positive momentum will continue as economic conditions improve further, and we remain confident in our ability to deliver on the Group's short and long-term targets.' The company emphasized: 'Our strategic goals and priorities remain unchanged, we will continue to leverage our solid business foundations and proven growth strategies to capitalize on the ongoing market recovery, with both our financing and insurance divisions well-positioned to deliver solid, sustainable growth." 'In parallel, the consistent development and expansion of our digital capabilities continues to be a main priority, and we remain committed to delivering new and enhanced solutions across both ContactNow and over the coming period,' the management added. In the first three months (3M) of 2025, Contact logged 306% higher consolidated net income at EGP 59 million, compared to EGP 14 million in Q1-24. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
