Egypt Aluminium achieves 45% of previous year’s net profit in only Q1

Aluminium Co. of Egypt (Egyptalum), a subsidiary of the Metallurgical Industries Company and a leading player in the aluminium industry, has announced its fiscal results for the first quarter of FY2024-25 ended September 30, highlighting a striking increase in net profit and revenue.

According to the Q1 figures, Egyptalum yielded a net profit of EGP 4.23 billion after tax, up by 160 per cent Y-o-Y from EGP 1.63 billion. The company earned more profit in a single quarter than it secured in six months of the previous year. In the first six months of FY2024, Egypt Aluminium achieved a profit of EGP 3.43 billion, again up by 101 per cent Y-o-Y from EGP 1.7 billion.

The above data shows a steady growth trend in Egyptalum’s net profit over the past two years. During the period under review, Egyptalum’s revenue hit EGP 11.33 billion, marking an 80 per cent Y-o-Y jump from EGP 5.99 billion.

The basic earnings per share (EPS) increased to EGP 3.39 billion in Q1 FY2025 from EGP 1.30 in the year-ago period.

In the fiscal year of 2024, which ended on June 30, Egyptalum logged net profits worth EGP 9.32 billion, of which about 45 per cent is achieved in the first quarter of FY2025.