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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