By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Madbouly discusses ways to boost metallurgical industries 
    Madbouly discusses ways to boost metallurgical industries 
    September 25, 2023
    FRA to launch futures contracts trading in derivatives market
    FRA to launch futures contracts trading in derivatives market
    September 25, 2023
    We work with Tax Authority to control prices, support consumers: Philip Morris Misr
    We work with Tax Authority to control prices, support consumers: Philip Morris Misr
    September 25, 2023
    Mahmoud Mohieldin says global finance reform needed for just green transitions
    Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin
    September 24, 2023
    FRA to launch voluntary carbon market with 6 local projects
    FRA to launch voluntary carbon market with 6 local projects
    September 24, 2023
  • Politics
    PoliticsShow More
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
    Egypt, India affirm their strategic partnership, discuss regional issues
    Egypt, India affirm their strategic partnership, discuss regional issues
    September 24, 2023
    Pope Francis denounces ‘invasion’ rhetoric on migrants
    Pope Francis denounces ‘invasion’ rhetoric on migrants
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egyptalum’s results expected to benefit from repercussions of Ukraine war
Share
Notification
Latest News
Madbouly discusses ways to boost metallurgical industries 
Madbouly discusses ways to boost metallurgical industries 
Business
FRA to launch futures contracts trading in derivatives market
FRA to launch futures contracts trading in derivatives market
Business
Defence Minister meets NATO Military Committee chief
Defence Minister meets NATO Military Committee chief
Egypt Politics
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
Business
Mahmoud Mohieldin says global finance reform needed for just green transitions
Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egyptalum’s results expected to benefit from repercussions of Ukraine war
Business

Egyptalum’s results expected to benefit from repercussions of Ukraine war

Fatma Salah
Last updated: 2022/09/14 at 12:13 PM
By Fatma Salah 3 Min Read
Share
Egyptalum’s results expected to benefit from repercussions of Ukraine war
SHARE

Egyptalum expects strong business results in the coming period, taking advantage of several factors, whether on the global or local scene.

The company would directly benefit from the rise in the price of US dollar, coinciding with the state’s tendency to support the industrial sector, as well as the effects of the Russian-Ukrainian war on increasing the demand for aluminum is in the interest of the company globally.

An official source in the company confirmed that the Russian-Ukrainian war has a positive impact on the company’s business, which is still ongoing, and has raised the demand for Egyptian crude locally and globally.

The source added to Daily News Egypt that the company has a strategic stock of raw alumina that is sufficient for a period exceeding 8 months, pointing out that the company is insuring its stock as a precautionary strategy that it adopts, pointing out that it is working to directly benefit from the export opportunities available globally by increasing the production capacity is currently after the development process carried out by the company, especially since the export represents about 50% of the revenues.

Egyptalum is currently collecting the necessary funding to raise the company’s productivity to 320,000 tonnes annually through a $300m development process.

Eman Marei, a financial analyst at the Arab African Company for Securities, expected that Egyptalum would provide a strong performance thanks to the current shortage of supplies in light of the conflict between Russia and Ukraine and the measures of European countries to reduce imports from Russia.

She added that the company benefits greatly from the rise in the price of the dollar against the pound, given that exports represent about 50% of the company’s revenues, coinciding with a low possibility of raising electricity prices in terms of costs, given the Egyptian government’s promise of more support for the industrial sector in the coming period.

The research set a target price for the company’s share at EGP 24.2 per share, compared to closing at the end of trading on Monday, EGP 20.44 per share.

The company recorded a net profit of EGP 2.4bn during the period from July 2021 to June 2022, compared to profits of EGP 28.27m in the comparable fiscal year.

The company’s revenues rose during the last fiscal year to EGP 14.48bn, compared to revenues of EGP 11.36bn in the previous fiscal year.

The company attributed the profit jump during the last fiscal year to the development of a flexible strategy to deal with metal prices in the local and export market, as well as the prices of main and auxiliary raw materials.

You Might Also Like

Madbouly discusses ways to boost metallurgical industries 

FRA to launch futures contracts trading in derivatives market

We work with Tax Authority to control prices, support consumers: Philip Morris Misr

Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin

FRA to launch voluntary carbon market with 6 local projects

TAGGED: Egyptalum, Ukraine
Share this Article
Facebook Twitter Email Print
Previous Article Over 90% of inbound visitors in Egypt are beach tourists: ECSS Over 90% of inbound visitors in Egypt are beach tourists: ECSS
Next Article UNDP Regional Bureau for Arab States concludes five-day visit to Egypt UNDP Regional Bureau for Arab States concludes five-day visit to Egypt
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Madbouly discusses ways to boost metallurgical industries 
Madbouly discusses ways to boost metallurgical industries 
Business
FRA to launch futures contracts trading in derivatives market
FRA to launch futures contracts trading in derivatives market
Business
Defence Minister meets NATO Military Committee chief
Defence Minister meets NATO Military Committee chief
Egypt Politics
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?