Today: We have the latest financial results from Mopco, Contact Financial, and other major EGX players. We also have IPO news from Korra Energi, alongside key developments from Oriental Weavers, Talaat Moustafa Group, and more.

But before we start… a quick programming note: Eid Mubarak to our readers. We’ll be taking a short break beginning tomorrow for the Eid holiday, with the Egyptian Exchange also closed throughout the break. Enjoy the celebrations and long weekend — and we’ll be back in your inboxes on Monday morning.

🔔 EGX30 ended +1.5% by market close on Sunday at 52,861 points, the EGX70 rose 1.3% to 14,584 points, and the EGX100 rose 1.3% to reach 20,388 points.

💸 The number of transactions reached 186,308 spread across 1,966,338,023 stocks leading to a turnover of EGP 7.3 billion.

🏷️ International investors were the only net buyers. 

📈 Top gainers for the market as a whole included Raya Holding (+7.6%), Bonyan for Development and Trade (+6.8%), B Investments Holding (+6.4%).

📉 Top losers for the market included Arab Dairy - Panda (-5.4%), Gogreen for Agricultural Investment (-4.2%), and Arab Cotton Ginning (-3.4%).

⬆️ Top gainers for EGX30 included Raya Holding (+7.6%), ADIB (+4.0%), and Palm Hills Developments (+4.0%).

⬇️ Top losers for EGX30 included Valmore Holding -EGP (-3.1%), Qalaa Holdings (-2.1%), and Abu Qir Fertilizers (-2.1%).

Other Important Stats: 

🧈 24K Gold reached EGP  7,829 per gram, down 0.5% day-on-day and down 2.1% month-on-month.

💲 The USD reached EGP 52.27 at the National Bank of Egypt.

Misr Fertilizers Production Company “Mopco” (MFPC) reported a net profit of EGP 5.28 billion for Q1 2026, up 88% year-on-year, according to its latest earnings release. Management attributed the strong performance to the success of the company's strategy in enhancing operational efficiency, stabilizing natural gas supplies, and expanding into additional global markets to maximize returns from current global conditions.

Revenue drivers:

Revenue rose 29% year-on-year to EGP 8.18 billion in Q1 2026 , supported by production rates that exceeded approved budgetary targets and achieving 111% of the company's total production plan for the quarter.

Export performance:

Exports accounted for approximately 78.5% of total sales revenue by the end of the first quarter, with urea exports representing 94% and ammonia exports representing 6% of total export revenue. The company successfully diversified its sales channels to overcome regional logistical challenges, capturing a notable increase in high-yield ammonia export returns.

Remember:

Egypt’s fertilizer exporters are getting a major boost after local producers secured roughly 15% of a massive Indian import tender, with Egypt expected to supply up to 350 thousand tons of fertilizers for June delivery. Among the biggest beneficiaries is MFPC, which — alongside Abu Qir and Egyptian Fertilizers — reportedly accounted for around 240 thousand tons of the awarded volumes amid a sharp rally in global urea prices.

The development could support stronger export revenues for Mopco as urea prices in the Indian tender reportedly surged to between USD 850 and USD 880 per ton, versus roughly USD 490 per ton for Middle East urea before the recent Iran-related tensions.

Strategic expansions and outlook:

Mopco advanced its pipeline of high-value integrated projects during the quarter, moving forward with the Damietta Green Ammonia Company to build a green ammonia project with an annual export capacity of 150,000 tons. Additionally, the company is progressing with its plant efficiency enhancement project to install a Carbon Dioxide Recovery Unit that utilizes 150,000 tons of stack emissions annually, boosting product yields from identical natural gas volumes to align with strict European market requirements.

Management said it remains confident in its steady operational trajectory, emphasizing that the company's strong execution and safety culture led to it being ranked 7th in Forbes Middle East's Top 50 companies operating in Egypt for 2026, climbing from 12th place the previous year.

Recent stock performance:

The company has seen a strong start to the year, with its share price rising 45.7% since the beginning of 2026 after gaining 2.8% by the close of yesterday’s session. This makes its share value up 61.1% compared to levels recorded 12 months ago.

Non-bank financial services provider Contact Financial Holding (CNFN) reported a net profit of EGP 66 million for Q1 2026, up 12% year-on-year, according to its latest earnings release.

Consolidated operating income climbed 27% to reach EGP 642 million, up from EGP 506 million in Q1 2025. Growth was driven by robust results across core business lines, supported by a strategic shift toward off-balance sheet portfolio transfers to navigate interest rate volatility, alongside strong operational discipline.

Segment performance highlights:

Financing Division: Brought in EGP 542 million in operating income (+46% YoY) , while net income surged by 170% YoY to EGP 72 million, driven by a 41% increase in new lending to EGP 2.9 billion.

Insurance Division: Gross Written Premiums (GWP) surged by 29% YoY to EGP 1.4 billion and investment income rose 55% to EGP 92 million, though overall operating income dipped 30% YoY to EGP 97 million due to a temporary concentration of late-2025 Group Medical claims.

Digital (ContactNow): Integrated within the institutional ecosystem to drive an 80% increase in the digital platform's new lending, which reached EGP 453 million for the quarter with the revolving segment serving as the primary growth engine.

Consumer & Corporate Financing: Auto & Lifestyle lending grew 9% YoY to EGP 1.5 billion , while corporate lending via the Business Cluster delivered an exceptional performance, surging 109% YoY to EGP 985 million in new financing.

Recent stock performance:

The company has seen a rough start to the year, with its share price dropping 11.4% since the beginning of 2026. This makes its share value down 5.4% compared to levels recorded 12 months ago.

🧀 Food producer Domty (DOMT) posted a sharp Q1 earnings rebound, with net profit soaring 581.5% year-on-year to EGP 72.2 million as sales momentum continued improving, its latest financial results showed. Revenue climbed to EGP 2.56 billion during the quarter, up from EGP 2.25 billion in the same period of the previous year. The company’s share price is down 3.2% since the beginning of 2026 despite gaining 2.2% by the close of yesterday’s session. Compared to levels recorded a year ago, its share value is up 18.0%.

🏺 Ceramics and sanitaryware manufacturer Lecico Egypt (LCSW) reported a 38% year-on-year decline in Q1 profit to EGP 67.9 million, according to its latest financial results. Revenue rose to EGP 1.96  billion during the quarter, up from EGP 1.69 billion in the same period of the year before. The company’s share price is up 7.3% since the beginning of 2026 after gaining 4.3% by the end of yesterday’s session. Compared to levels recorded a year ago, its share value is up 17.7%.

In non-earnings news:

🏭 Carpet maker Oriental Weavers (ORWE) is studying options to raise ownership stakes in several export-focused subsidiaries through potential share swaps and internal restructuring moves, according to a statement. The plan targets businesses including Oriental Weavers USA and Mac Carpet as the company seeks to strengthen dollar-linked revenues and improve shareholder returns. The group also approved an EGP 700 million program to dispose of non-core real estate assets while moving ahead with a separate EGP 350 million land acquisition tied to Mac Carpet operations.

⚡Korra Energi (KORA) saw strong appetite for its upcoming EGX listing, with the institutional tranche covered 5.7 times by the close of subscriptions yesterday, while the retail offering reached roughly 10.6 times coverage, EnterpriseAM reports. The strong order book adds to signs that investor demand for new EGX listings remains resilient despite lingering economic and regional uncertainty.

💰 Dutch private equity firm RMBV is planning to launch a SPAC on the Egyptian Exchange later this year, targeting acquisitions across sectors including consumer goods, industry, education, and financial services, Asharq reports.The move adds further momentum to Egypt’s slowly developing blank-check market and expands RMBV’s regional investment footprint, which already includes holdings in Taaleem Management Services (TALM) and Cleopatra Hospitals Group (CLHO).

🎤 Talaat Moustafa Group (TMGH) signed a partnership with Saudi entertainment company Sela, backed by Public Investment Fund, to launch concerts, festivals, and large-scale live events across TMGH developments in Egypt, according to a statement. The venture’s first initiative, “The Corridor,” will connect entertainment and sporting events across Egypt and Saudi Arabia, with major North Coast events already planned for next year.

Today:

Eastern Company - distribution date for EGP 1 per share. The record date was May 20.

31 May:

Rameda - record date for EGP 0.030 per share. The distribution date is June 3.