Today: We have the latest financial results from Orascom Construction and pharma producer Rameda. Let's take a look.

🔔 EGX30 ended +0.3% by market close at 45,321 points, the EGX70 also rose 0.3% to 12,535 points, and the EGX100 similarly increased 0.3% to reach 17,426 points.

💸 The number of transactions reached 137,012 spread across 1,648,203,577 stocks leading to a turnover of EGP 7.206 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included Housing & Development Bank (+18.0%), Suez Canal Company For Technology Settling (+13.9%), and Suez Canal Bank (+8.2%).

📉 Top losers for the market included Arab Valves Company (-3.0%), M.B Engineering (-2.9%), and Grand Investment Capital (-2.7%).

⬆️ Top gainers for EGX30 included Arabian Cement (+5.7%), Orascom Construction (+3.2%), and Valmore Holding -EGP (+2.7%).

⬇️ Top losers included Eastern Company (-2.1%), Ibnsina Pharma (-2.0%), and GB Corp (-1.4%).

Other Important Stats: 

🧈 24K Gold reached EGP 8,399 per gram, up 2.9% day-on-day and up 2.8% month-on-month.

💲 The USD reached EGP 54.53 at the National Bank of Egypt.

Orascom Construction (ORAS) reported a net profit attributable to shareholders of USD 194.8 million for FY 2025, marking a 65.1% increase year-on-year, its latest earnings release showed. The Group's performance was driven by stronger results across all operating segments and its 50% stake in Belgian company BESIX.

Revenues rise on solid project execution:

Total consolidated revenue reached USD 5 billion in FY 2025, an increase of 55.1% compared to the previous year. Growth was supported by steady progress across major projects in Egypt, the UAE, Saudi Arabia, and the United States. Middle East and Africa operations accounted for 56% of total revenue during the year, while U.S. operations contributed the remainder.

New awards driven by U.S. data centers:

Consolidated new awards surged 86.6% year-on-year to USD 5.6 billion in FY 2025. New awards in the United States totaled USD 3.5 billion, driven by high-investment sectors such as data centers, aviation, and commercial projects. In the MEA region, new awards reached USD 2.1 bllion, spanning the power, renewable energy, infrastructure, and commercial sectors in Egypt and Saudi Arabia.

Backlog expands, strengthening visibility:

The Group’s consolidated backlog reached a record year-end high of USD 9 billion as of 31 December 2025, an 18.9% increase year-on-year. Management attributed this growth to a focus on critical infrastructure sectors—including power, water, renewable energy, transportation, and data centers—where demand remains robust. The U.S. backlog saw an exceptional 80.6% rise, now representing 32.1% of the total Group backlog.

Remember, the company reportedly signed an important agreement In January:

In January, the UAE’s Modon reportedly awarded Orascom Construction the development of one of its projects in Ras Al-Hekma on Egypt’s North Coast, with a budget of around EGP 15 billion (USD 316.25 million), two sources told Asharq on condition of anonymity. The project spans 50 feddans and will include residential units, office space, and a 70-room hotel, with Orascom handling all construction and infrastructure.

And has recently made progress on the renewable energy front: 

Last month, Orascom Construction led a consortium comprising Engie and Aeolus to sign a power purchase agreement with the Egyptian Electricity Transmission Company for a new 900 MW wind farm in Ras Ghareb under a 25-year Build-Own-Operate model, according to a statement. Orascom’s holds a 25% stake in the project and will execute all civil and electrical works, bringing its total wind energy capacity to approximately 1.8 GW when it reaches financial close, which is expected in early 3Q 2026. Construction is planned to begin at the end of the year and full commercial operation to begin by mid-2028.

Stock performance:

The company has seen a good start to the year, with its share price rising 11.9% since the beginning of 2026 after it gained 3.2% by market close yesterday following the news of its results. This makes its share value up 64.8% compared to levels recorded 12 months ago.

Pharmaceuticals producer Rameda (RMDA) reported a reported net income of EGP 313 million for FY 2025, down 22% year-on-year, primarily due to a 73% increase in finance costs and a one-off provision of EGP 99 million related to receivables from its distributors, according to its latest earnings release

Revenue drivers:

Total revenue for FY 2025 reached EGP 4.1 billion, marking a 48% increase from the previous year. Growth was driven by strong volume expansion across all segments, with total units sold (excluding toll manufacturing) increasing 40% YoY to 72.3 million units. Private sales led the performance with a 37% increase to EGP 3 billion, supported by improved product availability and the continued impact of repricing. Tender sales also surged 131% to EGP 545 million as procurement activity by the Unified Procurement Authority normalized.

Export performance:

Export revenues for FY 2025 totaled EGP 243 million, a 71% increase year-on-year. This growth was supported by expansion across key regional markets and the recovery of Iraq, the company’s main export market, which contributed EGP 40 million. Other top-contributing markets included Sudan, which accounted for 37% of export sales (EGP 90 million), Yemen at 23% (EGP 56 million), and Libya at 15%.

Specifics for 4Q:

In 4Q 2025, reported net income reached EGP 32 million, a 79% decline compared to 4Q 2024, impacted by higher finance costs and the EGP 99 million one-off provision. Revenue for the quarter rose 15% YoY to EGP 1.132 billion. While private sales grew 8% to EGP 862 million, export revenues saw a massive jump from EGP 3 million to EGP 74 million during the quarter as activity in regional markets accelerated.

Going forward:

"Looking ahead, we expect 2026 to be a year of operational normalization and stability, underpinned by steady volume growth, improved cost efficiency, and a more balanced market environment. Our strategic inventory positioning provides us with enhanced supply chain security and supports uninterrupted production, allowing us to respond effectively to market demand," the company’s CEO Amr Morsy said.

Stock performance:

The company has seen a strong start to the year, with its share price rising 21.9% since the beginning of 2026. This makes its share value up 20% compared to levels recorded 12 months ago.

Dividends:

The company’s management noted yesterday that it plans to maintain a payout ratio of approximately 40%, with EGP 60 million to be distributed in the first half of 2026 and the remaining balance in the second half, subject to macroeconomic developments and company performance.

Today:

Giza General Contracting and Real Estate Investment - dividend distribution date for EGP 0.5 per share. The record date is March 31.

April 9th:

Commercial International Bank - dividend distribution date for EGP 6 per share. The record date is April 6.

💵 Egypt’s government has secured a JPY 35 billion (USD 220 million) concessional loan from Japan, aimed at supporting the budget while advancing private-sector reforms, EnterpriseAM reported. The facility comes with favorable terms—including a 1.5% interest rate and a 20-year tenor with a 10-year grace period—and is tied to commitments to reduce the state’s role in the economy. The move reflects the government’s reliance on cheaper bilateral financing to ease fiscal pressure and foreign currency needs, while continuing efforts to push through long-delayed structural reforms.

🛢️ Italian energy giant Eni is planning to invest USD 2 billion in Egypt in 2026 to boost exploration activity and increase output from existing gas fields, according to a cabinet statement following talks with Mostafa Madbouly on the sidelines of the Egypt Energy Show. The planned investment signals continued confidence in Egypt’s energy sector and efforts to scale up gas production.