RAYA CX, a subsidiary of Raya Holding for Financial Investments, reported consolidated revenues of EGP 1.7bn in the first half (H1) of 2026, marking a 29.3% year-on-year increase from EGP 1.3bn in the corresponding period of 2025.
The company’s momentum continued into the second quarter (Q2), with revenues rising 24.2% year-on-year to EGP 849.1m.
Business Process Outsourcing (BPO), RAYA CX’s core business, remained the company’s largest revenue contributor, growing 32.8% year-on-year to EGP 918.9m and accounting for 53.9% of total revenues.
Insourcing services posted the strongest growth across the company’s business lines, increasing 41% to EGP 343.9m. Meanwhile, Contact Center Hosting generated EGP 440.9m in revenues, up 16.8%, maintaining its contribution at around one-quarter of total revenues.
Egypt remained the company’s largest market, contributing 79.2% of total revenues, equivalent to EGP 1.349bn, up 25.6% year-on-year. Gulf markets generated EGP 332.6m, representing 19.5% of total revenues, while Poland contributed EGP 21.9m, or 1.3%.
The company’s revenue base also continued to benefit from strong foreign-currency earnings. Approximately 68.9% of total revenues, equivalent to EGP 1.173bn, were generated in US dollars through export operations, compared with EGP 530.6m from the domestic market.
On the profitability front, gross profit increased 19.9% year-on-year to EGP 723.9m, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13.5% to EGP 387.2m.
RAYA CX also improved its cost efficiency, reducing general, administrative and selling expenses as a percentage of revenues from 15% to 13.8%.
Cost of revenues reached EGP 1.006bn, with wages accounting for approximately 79% of the total. The increase primarily reflected expanded recruitment and additional capacity investments to support the company’s future growth.
As a result, the company recorded gross and EBITDA margins of 42.5% and 22.7%, respectively. Net profit after tax reached EGP 133.9m, representing a net profit margin of 7.9%.
Alaa El Khishen, CEO of RAYA CX, said the company is entering the second half of 2026 with a clear growth strategy focused on geographic expansion, service diversification and continued investment in technology.
El Khishen identified the Gulf and European markets as key priorities, describing them as promising growth opportunities and major pillars of the company’s expansion strategy.
As part of its domestic growth plans, RAYA CX is exploring opportunities to establish operations in additional Egyptian governorates beyond Cairo.
The company is also continuing to expand its workforce in Hurghada as part of its strategy to diversify its operational footprint and tap into talent pools across Egypt.
El Khishen said the geographic expansion will enable RAYA CX to strengthen its nationwide presence while leveraging the skilled workforce available across different governorates.
