News Details

Egypt Aluminum (EGAL.CA)’s 9M21/22 Net Loss turns to Profit

26/05/2022

EGP mn

9M20/21

9M21/22

Change %

Revenues

8,144.8

10,762.5

32.1%

Gross Profit (Loss)

(484.4)

2,333.7

-

GPM %

-

21.7%

-

Net Profit (Loss)

(347.7)

1,688.6

-

NPM %

-

15.7%

-

Egypt Aluminum (EGAL.CA)’s 9M21/22 net profit recorded EGP 1,688.6mn replacing net loss of EGP 347.7mn in 9M20/21. (Company’s Financial Statements). Analyst Comment: the shift in the company’s bottom-line can be mainly explained by recording gross profit of EGP 2,333.7mn in 9M21/22 replacing gross loss of EGP 484.4mn in 9M20/21, on the back of a 52% surge in the average selling prices recording USD 2893/ton in 9M21/22 compared to USD 1904/ton in 9M20/21 marking an increase of USD 989/ton. On the other hand, EGAL recorded provision expense of EGP 794.1mn in 9M21/22 replacing reversed provision of EGP 32.4mn in 9M20/21.

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