Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.

Today: Profit up for MM Group, & more earnings + Elsewedy opens up a new factory in KSA & details on ETEL's data center sale

🔔 EGX30 ended -0.92% by market close at 39,537 points, the EGX70 fell 0.41% to 12,162 points, and the EGX100 dropped 0.60% to reach 16,103 points.

💸 The number of transactions reached 122,043 spread across 3,259,403,313  stocks leading to a turnover of EGP 5.7 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included A Capital Holding (+19.92%), Rowad Tourism (+8.59%), and El Obour Real Estate Investment (+8.45%).

📉 Top losers for the market included Subscription Rights Of Macro Group Pharmaceuticals (-18.83%), Gogreen for Agricultural Investment (-9.26%), and Misr Cement (-7.6%).

⬆️ Top gainers for EGX30 included Orascom Construction (+1.3%), Credit Agricole (+1.0%), and Telecom Egypt (+0.7%).

⬇️ Top losers included Misr Cement (-7.6%), Orascom Development (-3.2%), and E-finance (-2.9%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,389 per gram, down 0.28% day-on-day but up 1.21% month-on-month.

💲 The USD reached EGP 47.67 at the National Bank of Egypt.

💸 MM Group (MTIE) reported a net profit of EGP 381 million in the third quarter, up 32.0% year-on-year, supported by higher sales volumes and increased contributions from associates, while consolidated revenues rose 25.0% y-o-y to EGP 5.7 billion. (Read more in our Deeper Look section.)

📉 Egyptian Financial & Industrial Co. (EFIC) posted a 40% drop in consolidated net profit for the first nine months of 2025, bringing in EGP 803.15 million. Revenue increased to EGP 7.78 billion, up from EGP 6.64 billion during the same period of last year. The company’s share value is up 91.48% since the start of the year. 

⬇️ Sanitary ware producer Lecico Egypt (LCSW) recorded a 66% drop in consolidated net profit for the first nine months of 2025, with net profit reaching EGP 317.21 million. Revenue increased to EGP 5.74 billion, up from EGP 4.86 billion in the same period of 2024. The company said the profit decline (compared to 9M 2024) reflects exceptional foreign currency gains it made last year following the devaluation of the EGP in March. The firm’s shares are down 18,52% since the beginning of 2025.

🧱 Misr National Steel (ATQA) recorded an 80% drop in net profit for the first nine months of 2025, with net profit reaching EGP 141.31 million. Revenue rose to EGP 5.27 billion, up from EGP 3.7 billion in 9M 2024. The company’s share value is up 79% year-to-date.

In non-earnings news:

⚡ Elsewedy Electric Saudi Arabia has opened a USD 40 million factory in Riyadh, adding a new production base for cable accessories and fiberglass poles — and becoming the first locally accredited supplier of medium-voltage cable accessories to the Saudi Electricity Company. The company now has three plants in the Kingdom, bringing total investments above USD 250 million, with another USD 150 million in potential projects currently being evaluated.

🗄️Telecom Egypt (ETEL) is close to selling most of its data center assets to Helios Investment Partners for around USD 230-260 million, with the deal expected to close by Q1 2026, sources told Al Borsa. The bulk of the proceeds will go toward reducing debt, helping the company move from net debt to net cash within four years. Legal approvals and regulatory clearance are being finalized before the transaction. It’s worth noting that the company’s share value is up 93.3% since the start of the year.

November 27, 2025 (today):

Misr Cement (MCQE) - dividend distribution date for EGP 0.5 per share. The record date was June 23rd.

Rameda (RMDA) - dividend distribution date for EGP 0.053 per share. The record date was the 7th of July. Note: The company will also be distributing 0.323 bonus shares per share on December 3, with the record date for eligibility being December 2.

🚢 Egypt is reportedly planning to spend USD 1 billion in the first phase of a project to build fixed and floating refueling stations for Suezmax vessels along the Suez Canal, in partnership with the private sector, according to two government sources speaking to EnterpriseAM. The project is part of a broader USD 2 billion plan to provide fuel, maintenance, and logistics services to major shipping lines, transforming the canal into a service hub. Competitive pricing and LNG infrastructure, including a new LNG station in Port Said, will be key to attracting vessels.

⚡Chinese company Winpex is opening a USD 15 million factory near Sokhna Port to produce solar lights, LED lights, and electronics in partnership with Main Development Company, creating 500 direct jobs. All output will be exported, the Suez Canal Economic Zone said.

MM Group delivered a solid third quarter, with consolidated revenues rising 25.0% y-o-y to EGP 5.7 billion. Consolidated net profit reached EGP 381 million, up 32.0% y-o-y, supported by stronger sales volumes and a notable pickup in associate income.

The company’s share value is up 8.35% since the start of the year.

For the nine-month period, MTI continued to build scale:

Growth was primarily driven by stronger demand across consumer electronics and automotive, expansion of retail distribution channels, improved product availability, and solid contributions from associates.

MTI is positioning for continued expansion across its core categories. The company is:

Stay curious, stay invested — we’ll see you tomorrow.

Your daily market lens, signing off.