Latest news with #EgyptKuwaitHolding
Kuwait News Agency
18-05-2025
- Business
- Kuwait News Agency
Egypt Kuwait Holding Co. posts USD 39.5 mln in Q1 profits
CAIRO, May 18 (KUNA) -- Egypt Kuwait Holding (EKH) Company announced on Sunday a net profit of USD 39.5 million in the first quarter of 2025, buoyed by the strong performance of its fertilizer and petrochemical sectors. In a press release, the company said it had managed to boost its operational efficiency and market potential, reflecting a growth of USD 195 million in revenues in the first quarter of 2025, an annual increase of one percent and a growth rate of 17 percent on a quarterly basis. It added that it could keep its strong profit margin levels with gross profit and EBITDA margins having hit 39 percent and 38 percent respectively. Board Chairman Loay Al-Kharafi voiced pleasure at the group's robust performance during the first quarter of 2025. Al-Kharafi boasted that the group had managed to keep its positive results in spite of economic volatility in the world in general and the region in particular. He added that the group had also succeeded in accelerating its strategic transition plans during the first quarter of 2025, while keeping the excellent performance of its main sectors, including fertilizers, petrochemicals and energy. Egypt Kuwait Holding Company was established in 1997 by a consortium of prominent Kuwaiti and Egyptian businessmen. Over the past two decades, the company has established itself as one of the MENA region's leading and fastest-growing investment companies. (end)
Zawya
11-04-2025
- Business
- Zawya
Egypt Kuwait Holding's general assembly greenlights $53.2mln dividends for 2024
Egypt Kuwait Holding's (EKH) general assembly approved the distribution of $53.2 million as cash dividends for 2024, according to an emailed press release. The approved amount represents 19% of the company's capital. This includes a cash dividend equivalent to 14% of the share's par value, amounting to $39.11 million or 3.5 US cents per share. Furthermore, the general assembly greenlighted the distribution of stock dividends totaling $14.09 million, accounting for 5% of the company's issued and paid-up capital. In this regard, the shareholders will receive one free share for every twenty original shares for the fiscal year that ended on December 31st, 2024. Loay Jassim Al-Kharafi, Chairman of the board of EKH, said: "We look forward to 2025 as the launchpad for a new phase of growth and selective expansion, driven by an ambitious strategy to cement our Group's and subsidiaries' market standing and expand our presence regionally and globally." Jon Rokk, CEO of EKH, stated: "In 2025, we will continue to pursue opportunities aligned with our strategic objectives and actively contribute to generating added value for both our shareholders and clients." Rokk added: 'We are gearing up to expand our footprint in 2025, with plans to enter the Saudi market for the first time and kick off a new project in Northern Europe.' He indicated that the group plans to spend between $150 million and $200 million in CAPEX over 2025 and 2026, seeking new opportunities and expanding its existing portfolio. The group's revenues amounted to $642 million at the end of December 2024, backed by a 40% growth in gross profit margin and a 39% increase in EBITDA margin. Net profit reached $185 million, with net profit margin increasing by 2% points to 29%. The net profit attributable to the company's shareholders amounted to $163 million in 2024. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
10-04-2025
- Business
- Zawya
Egypt Kuwait Holding general assembly approves board recommendation to distribute cash dividend
Loay Jassim Al-Kharafi: 2025 marks the beginning of a new phase of growth and selective expansion for EKH. We are adopting an ambitious strategy to strengthen the position of the Group and its subsidiaries, while expanding its footprint both regionally and globally. Jon Rokk: We remain focused on seizing opportunities aligned with our strategic direction and creating added value for our shareholders and clients. We are evaluating additional investment opportunities worth between $150 million and $200 million for 2025 and 2026. Cairo – Egypt Kuwait Holding (EKH) recently convened its Ordinary and Extraordinary General Assemblies for the fiscal year 2024, during which all agenda items were approved, including the company's financial statements for the past fiscal year and the auditor's report. The General Assembly approved the distribution of dividends for the year 2024 amounting to USD 53.2 million, representing 19% of the Company's capital. This includes a cash dividend equivalent to 14% of the share's par value, amounting to USD 39.11 million—or 3.5 US cents per share. It also approved the distribution of stock dividends totaling USD 14.09 million, representing 5% of the company's issued and paid-up capital—granting shareholders one free share for every twenty original shares—for the fiscal year ending December 31, 2024. Reflecting on the compnay's recent performance, Loay Jassim Al-Kharafi, Chairman of the board of EKH, said: "We are proud of the Group's strong performance last year, during which we maintained robust profitability across all operating sectors. We look forward to 2025 as the launchpad for a new phase of growth and selective expansion, driven by an ambitious strategy to cement our Group's and subsidiaries' market standing and expanding our presence regionally and globally." He added: "The growth we achieved in revenues and increased investments reflects the strength of our financial position, the resilience of our business model, and our ability to achieve sustainable growth despite local, regional, and global market challenges. At the same time, we remain committed to continuous development and pursuing promising opportunities." Al-Kharafi noted that the Group successfully navigated the operational and economic challenges of 2024 thanks to the efficiency of its strategy and the flexibility of its business model. This strengthened its ability to achieve sustainable growth and continue delivering long-term results. The company's strong performance in 2024 reflects a notable recovery in pricing and higher sales volume of key products), further reinforcing confidence in the Group's solid and sustainable business portfolio and paving the way for the implementation of its ambitious expansion plans in 2025. Jon Rokk, CEO of EKH, stated:"In 2025, we will continue to pursue opportunities aligned with our strategic objectives and actively contribute to generating added value for both our shareholders and clients." He added: 'We are gearing up to expand our footprint in 2025, with plans to enter the Saudi market for the first time and kick off a new project in Northern Europe. At the same time, we will continue growing our existing operations and strengthening our presence in the Egyptian market." He noted that the company intends to spend between $150 million and $200 million in CAPEX over 2025 and 2026, targeting both new opportunities and the expansion of its existing portfolio. Rokk further affirmed that Egypt Kuwait Holding is embarking on a transformative chapter—one that encapsulates its bold growth aspirations and forward-looking drive to build a strategic, agile organization. He also presented the Group's financial results for the previous year, during which revenues rose to $642 million, accompanied by a 40% growth in gross profit margin and a 39% increase in EBITDA margin. Net profit reached $185 million, with net profit margin increasing by 2 percentage points to reach 29%. The net profit attributable to the company's shareholders amounted to $163 million during the same period. In the fourth quarter of 2024 alone, the company recorded revenues of $167 million—reflecting 9% quarter-over-quarter growth—driven by revenue increases across various subsidiaries, indicating improving market conditions. The company successfully maintained high profit margins despite economic headwinds, with gross profit and EBITDA margins reaching 41% and 42% respectively, while net profit for the fourth quarter amounted to $46 million.
Asharq Al-Awsat
02-03-2025
- Business
- Asharq Al-Awsat
Egypt Kuwait Holding Set to Launch First Commercial Project in Saudi Arabia
Egypt Kuwait Holding (EKH) plans to announce its first investment in Saudi Arabia's oil and gas sector within two to three months, after completing the bulk of the project's capital expenditures, CEO Jon Rokk said. In an exclusive interview with Asharq Al-Awsat, Rokk described the project as 'promising" and said it had been 'in the planning stages for a long time.' EKH, one of the fastest-growing investment firms in the Middle East and North Africa, manages a diverse portfolio spanning five key sectors: fertilizers, petrochemicals, gas distribution, power generation and distribution, and non-banking financial services, including insurance. As part of EKH's expansion strategy, it is close to officially announcing its first investment in Saudi Arabia—a promising oil and gas project that has been in the works for some time, Rokk said. EKH is leveraging its extensive expertise and strong track record in Egypt, including the development, operation, and maintenance of the largest private gas distribution network in the Middle East, he added. EKH eyes Saudi, European expansion EKH is set to announce its first investment in Saudi Arabia's oil and gas sector within the next few months, having already completed the bulk of its capital expenditures, Rokk told Asharq Al-Awsat. EKH has been working on this project for a long time and it is now in the final stages, preparing to commence commercial operations soon, Rokk revealed. This will enable the company to generate revenue in the coming months. While he did not disclose further details, he said that EKH is evaluating additional investment opportunities worth between $150 million and $200 million over 2025 and 2026 as part of its expansion strategy. EKH reported a net profit of $185 million in 2024. According to the company, revenue climbed to $642 million last year, with gross profit and operating profit margins increasing by 40% and 39%, respectively. Net profit rose to $185 million, with net profit margins improving by two percentage points to 29%. Profit attributable to shareholders reached $163 million. In its 2024 financial statement, EKH said it expects 2025 to bring further improvements in capital allocation and a sharper focus on high-value projects, underscoring the significance of its first Saudi investment. Saudi investment and growth outlook While Rokk described EKH's Saudi project as relatively small compared to its overall portfolio, he stressed its strategic importance. This is a key step for EKH's entry into the Saudi market, where it sees significant growth potential, he said. He also expected the project to unlock future opportunities. This investment could pave the way for securing additional concessions, strengthening EKH's presence in one of the region's most critical energy markets. Expanding into Europe Beyond the Middle East, EKH is developing a new project in Northern Europe, which Rokk described as a major growth driver. This strategic investment will give it early access to an emerging sector, enhancing its competitiveness and market presence from the outset, he said. EKH anticipates strong returns, supporting its growth and international expansion. The company's broader strategy includes increasing foreign currency exposure, tapping into high-growth markets, and diversifying its investment portfolio. EKH is finalizing the project details and expect to provide further updates by the third quarter as it moves toward execution, Rokk added. In 2025, EKH aims to expand further—both by entering Saudi Arabia and launching its European project—while continuing to grow its existing businesses. Strengthening presence in Egypt EKH is also reinforcing its foothold in Egypt, with plans to boost exports and foreign currency inflows in 2025. It is exploring several options, including acquisitions and strategic partnerships, focusing on sectors with strong export potential and dollar-denominated returns, Rokk said. The company aims to leverage Egypt's competitive advantages—such as low production costs and strategic location—to increase exports and maximize foreign currency earnings.
