Talaat Moustafa Group beats sales expectations by 28% to EGP 33.2bn in 2022

Talaat Moustafa Group (TMG) announced that it achieved huge and unprecedented net sales amounting to EGP 33.2bn in fiscal year (FY) 2022, breaking its own sales record of the previous year.

The company’s sales exceeded its expected limit of EGP 26.24bn by 28%.

TMG expected that hospitality projects would achieve the best financial and operational performance ever since 2018 during the year 2022, so that revenues generated from hotels during FY 2022 reached  approximately EGP 2.4bn, compared to EGP 1.27bn in FY 2021 an increase of approximately 90% y-o-y.

Additionally, the company expected that the EBITDA would exceed EGP 1bn, compared to EGP 372m in FY  2021, with an increase of about three times y-o-y.