Today: We have the latest on the earnings of Talaat Moustafa Group and Emaar Misr. We also have news that Beltone has launched a new private equity arm to fund companies from pre-seed to pre-IPO.

🔔 EGX30 ended +2.64% by market close at 50,870 points, the EGX70 rose 2.13% to 12,693 points, and the EGX100 also increased 2.34%  to reach 17,816 points

💸 The number of transactions reached 115,301 spread across 1,030,625,865 stocks leading to a turnover of EGP 5.7 billion.

🏷️ Local investors were the only net sellers.

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📉 Top losers: Rakta Paper Manufacturing (-4.9%), Egyptian Arabian (Themar) Comp. For Securities & Bonds (-3.1%), Arab Polvara Spinning & Weaving Co. (-2.2%.)

⬆️ Top gainers for EGX30 included Rameda (+9.5%), Heliopolis Housing (+9.5%), and Raya Holding (+6.8%).

Other Important Stats: 

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Talaat Moustafa Group (TMGH) reported a 43% year-on-year rise in net profit for 2025, reaching EGP 18.2 billion compared with EGP 12.8 billion in 2024, the company said in a statement yesterday.

Revenues surge alongside record sales

Total revenues increased 46% to EGP 62.49 billion, up from EGP 42.6 billion the previous year. The group also achieved EGP 382 billion in real estate sales during 2025, highlighting sustained demand across its projects.

Real estate remains the primary growth driver

Revenue from real estate activities climbed 50% to EGP 36.7 billion, compared with EGP 24.52 billion in 2024, continuing to anchor the group’s overall performance.

Hospitality and recurring income gain momentum

Hospitality revenues rose 30% to EGP 14.89 billion, up from EGP 11.5 billion a year earlier. Meanwhile, recurring income and service-related activities generated EGP 10.9 billion, marking a 64% increase from EGP 6.66 billion in 2024.

Expanding backlog supports future revenue visibility

Unrecognized contracted sales reached EGP 441 billion in 2025, compared with EGP 293 billion in 2024, reflecting 50% growth and strengthening revenue visibility for the coming years.

Market reaction

The company, which holds over 11% of the EGX30 weight, saw its share value rise 2.74% following the news of its financial results. Its share price is up 16% since the beginning of 2026, bringing its gains over the last 12 months to 79%. 

In other news from the company

The board proposed a cash dividend totaling EGP 618.1 million for the year, equivalent to EGP 0.30 per share. The dividend will be paid in two equal installments in line with the company’s cash flow plan, with the first tranche due no later than 31 May and the second by 31 July.

Real estate developer Emaar Misr (EMFD) reported a sharp drop in profitability in 2025, with net profit falling 64% year on year to EGP 5.54 billion, while revenues edged up slightly to EGP 19.8 billion from EGP 19 billion, according to a company statement.

Recent stock performance

The company, which holds over 0.61% of the EGX30 weight, ended yesterday up 0.4%. Its share price is down 3.3% since the beginning of 2026, but has seen an almost 23% gain over the last 12 months. 

Expansion projects weigh on earnings

The earnings decline comes as the company pushes ahead with major expansion projects, including a West Cairo mixed-use development with Saudi Arabia’s Dallah Albaraka Group valued at about EGP 78 billion, and the EGP 900 billion Marassi Red Sea tourism destination being developed with Citystars Properties. The West Cairo project will see Dallah provide the land while Emaar Misr leads development and secures 67% of revenues, according to Asharq Business.

Meanwhile, Emaar and Citystars each hold a 50% stake in the Red Sea venture, which is expected to generate around USD 200 million in annual revenues and create up to 170,000 jobs during construction.

Portfolio and long-term plan

One of Egypt’s largest developers, Emaar Misr’s portfolio includes Marassi, Uptown Cairo, Mivida, and Cairo Gate. The company’s investments in Egypt reached roughly EGP 1.9 trillion as of the end of last year, and founder Mohamed Alabbar says the firm plans to double that figure in coming years as part of its long-term growth strategy.

Beltone Holding (BTFH) has established a dedicated private equity platform designed to finance companies across the full growth spectrum — from pre-seed and early-stage funding through expansion rounds and pre-IPO preparation. The new arm is intended to work alongside the firm’s venture capital division, creating a continuous capital pipeline for businesses as they scale.

Capital backing

The launch follows Beltone’s EGP 10.5 billion capital increase last year, which lifted total paid-in capital to approximately EGP 21.4 billion. The strengthened capital base is intended to support the firm’s expanded investment scope and future growth initiatives.

Recent stock performance

The company, which holds 1.65% of the EGX30 weight, saw its share value rise 1.94% following the news yesterday. However, its share price is down 7.6% since the beginning of 2026, bringing its gains over the last 12 months to 40.6%.