Korra Energi secured new contracts worth EGP 5bn during the first half (H1) of 2026, up from EGP 1.1bn in the same period last year, as the company reported higher gross profit margins and an increase in adjusted net income.
The company’s backlog reached approximately EGP 15.7bn by the end of H1 2026, according to its financial results released on Wednesday.
Korra Energi recorded revenues of EGP 3.2bn during the period, while gross profit rose 8.5% year-on-year to EGP 665m. Gross profit margin increased to 20.5%, compared with 17.2% in H1 2025.
The company’s energy division reported a gross profit margin of 22.5%, up from 17.5% a year earlier. Gross profit for the division increased 9.8% to EGP 601m, compared with EGP 547m in H1 2025.
Adjusted net income, excluding foreign exchange gains and losses, rose 12.2% year-on-year to EGP 146m in H1 2026.
The company said the results came despite higher fuel and energy costs, exchange-rate fluctuations and geopolitical tensions affecting regional markets.
During the first half of the year, Korra expanded its operations outside Egypt by establishing a branch in Saudi Arabia, its second international market after Iraq.
The company also secured a contract to connect wind power generation plants in the Gulf of Suez to Egypt’s national electricity grid. The project represents Korra’s first contract in the transmission and distribution (T&D) segment.
Other contracts awarded during the period include the execution of a Yazaki Egypt factory in Fayoum Governorate, which will manufacture automotive electrical systems and wiring harnesses, as well as the Gennvax pharmaceutical and vaccine manufacturing facility in the Suez Canal Economic Zone.
In addition to its engineering and energy activities, Korra reported a 33.6% increase in agricultural exports, driven by growth in its frozen strawberry operations.
The company also received approval from Egypt’s Financial Regulatory Authority (FRA) to increase its issued and paid-up capital to EGP 855m. Its authorised capital will rise from EGP 2.25bn to EGP 4.25bn.
Korra said it will continue to monitor economic and geopolitical developments while focusing on its contract pipeline, risk management and diversification across its business segments.
