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

Today: Egypt Aluminum profit drops 43%, Orascom Construction’s Weitz breaks ground on Four Seasons Telluride, Orascom Investment plans USD 25 million clean energy push

🔔 EGX30 ended +0.16% by market close at 38,162 points, while the EGX70 dropped 0.20% to 12,238 points, and the EGX100 also fell 0.18% to reach 16,046 points.

💸 The number of transactions reached 140,466 spread across 1,828,494,955 stocks leading to a turnover of EGP 5.9 billion.

🏷️ International investors were the only net sellers.

📈 Top gainers for the market as a whole included Gogreen for Agricultural Investment (+10.76%), Creast Mark For Contracting And Real Estate Development (+7.21%), and Middle Egypt Flour Mills (+6.06%).

📉 Top losers for the market included Copper For Commercial Investment & Real Estate Development (-19.19%), Middle & West Delta Flour Mills (-8.69%), and Saudi Egyptian Investment & Finance (-7.34%).

⬆️ Top gainers for EGX30 included Raya Holding (+4.2%), Orascom Development (+2.9%), and Beltone Holding (+2.6%).

⬇️ Top losers included Egypt Aluminum (-5.9%), Misr Cement (-2.1%), and Arabian Cement (-1.9%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,197 per gram, down 2.72% day-on-day but up 6.54% month-on-month.

💲 The USD reached EGP 47.4 at the National Bank of Egypt.

💸 Egypt Aluminum (EGAL) reported a 43% year-on-year drop in first-quarter net profit to EGP 2.41 billion, with revenue steady at around EGP 11.32 billion. Earnings per share also declined to EGP 5.86 from EGP 10.26 as the company faces margin pressure amid its ongoing green transition investments. (Read more in our Deeper Look section.)

🏨 The U.S unit of Orascom Construction (ORAS), The Weitz Company, has broken ground on the Four Seasons Resort and Residences Telluride in Colorado, USA — a 532,000-square-foot, 4.5-acre ski-front development featuring 52 hotel rooms, 43 hotel residences and 26 private residences. The project — developed with Fort Partners and Merrimac Ventures — is Orascom’s highest-profile U.S. build to date and sits alongside the group’s push into renewables and large infrastructure contracts. (Read more in our Deeper Look section.)

📝 Orascom Investment Holding (OIH) plans to invest USD 25 million in 2026 to expand its clean energy footprint in Egypt and Morocco through its electric mobility arm Blu EV, while also studying entry into the Italian market. The company — which aims to boost its fleet from 500 to 2,300 electric vehicles by end-2025 — is also looking to grow its luxury dining brand “Khufu” abroad and streamline its portfolio by merging overlapping subsidiaries under a broader restructuring plan. Remember, the company reported a consolidated net loss of EGP 619.5 million in 1H 2025, widening from EGP 146.2 million a year earlier — a 323.8% increase in losses.

✅ Remco for Touristic Villages Construction (RTVC) has hired a consultant to review an offer from Serac Developments to buy its 18-feddan stake in the Stella Riviera project on Egypt’s North Coast. Under the proposal, Remco would receive 3,500 square meters of completed buildings plus 12,140 square meters of previously sold units, while Serac would take over completion and handover of the project to clients.

📝 Research from Mubasher indicates that Juhayna Food Industries’ (JUFO) share is showing a key technical shift after breaking above its 200-day moving average — a strong medium- to long-term bullish signal. The stock’s recent move, supported by rising trading volumes and a positive crossover with shorter averages, suggests renewed buying momentum. Holding above EGP 30.50 keeps the outlook bullish, with potential resistance seen near EGP 34.50–35.80, while a dip below EGP 30.00 could trigger a short-term pullback. For context, JUFO’s share value stood at EGP 32.40 by market close yesterday, up 0.62% from the previous day.

October 28, 2025 (today):

Nile Pharmaceuticals and Chemical Industries (NIPH) -  dividend record date for EGP 2 per share. The distribution date is November 2.

October 29, 2025:

Madinet Masr Housing and Development (MASR) -  dividend distribution date for EGP 0.125 per share. The record date was May 26.

Middle and West Delta Flour Mills (WCDF) -  dividend distribution date for EGP 36 per share. The record date was Sunday.

Memphis Pharmaceutical and Chemical Industries (MPCI) -  dividend distribution date for EGP 0.125 per share The record date was Sunday.

October 30, 2025:

Sidi Kerir Petrochemicals (SKPC) - dividend distribution date for EGP 0.50 per share. The record date was May 26.

Arab Drug Co (ADCI) - dividend distribution date for EGP 8.333 per share. The record date was yesterday.

Oriental Weavers (ORWE) - dividend distribution date for EGP 0.60 per share. The record date was 27 April.

⏱️ Egypt’s government has once again delayed its debut local sukuk issuance — now set for next Monday with settlement the following day — to allow more time to connect the technical systems of the Central Bank, the Finance Ministry, and other entities, a government source told EnterpriseAM. The EGP 3 billion, three-year Ijara tranche is part of a larger EGP 50 billion sukuk program, with plans to expand it to EGP 200 billion by June.

🛢️Italian energy giant Eni plans to drill a new well in Egypt’s giant Zohr gas field in the Mediterranean during the second quarter of 2026, at an estimated investment cost of USD 200 million, according to two government sources who spoke to Asharq Business. The move comes as part of Eni’s broader plan to boost gas output from Zohr — which currently produces about 1.3 billion cubic feet per day, well below its 2019 peak of 3.2 billion cubic feet per day — with another well scheduled for the second half of 2026.

💶The Egyptian Electricity Transmission Company is in early talks with the European Investment Bank to secure a EUR 100 million grant aimed at funding new power lines that will link renewable energy projects to the national grid, according to government sources who spoke to Al Arabiya Business. The initiative supports Egypt’s green transition goals, including boosting grid capacity to absorb renewable power from the Red Sea, Aswan, and Gulf of Suez regions through 2029, and aligns with the government’s plan to raise clean energy’s share to 42% by 2030 and 60% by 2040.

Egypt Aluminum (EgyptAlum) reported a sharp decline in first-quarter net profit for FY 2025–26, with net income of EGP 2.41 billion versus EGP 4.23 billion a year earlier — a 43% fall, the company said in an EGX filing. Revenues were effectively flat at EGP 11.32 billion (down marginally from EGP 11.33 billion), and basic earnings per share fell to EGP 5.86 from EGP 10.26 a year earlier.

The profit drop comes as EgyptAlum moves to decarbonize its operations: the company will soon power its Naga Hammadi complex from Scatec’s USD 650 million solar project — a 1 GW plant paired with 200 MWh of battery storage. International lenders including the EBRD, AfDB and EIB have signed letters of intent to back the build, which is structured roughly 80% debt / 20% equity, with Scatec as the initial sponsor prior to bringing in partners.

Around 60% of EgyptAlum’s output is exported, and shifting the smelter to renewable power is aimed squarely at meeting EU sustainability standards and preserving the company’s access to premium markets. Management says the move should help sustain demand for Egyptian aluminium abroad by lowering the carbon footprint of exports.

EgyptAlum is also pursuing vertical integration: it recently signed an MoU with Aluminium Bahrain (Alba) to explore a USD 3 billion alumina refinery in Egypt. That facility would supply feedstock for local smelting and forms part of a broader modernization plan that taps Alba’s large-scale refining expertise.

The numbers show a short-term dent in profitability as EgyptAlum invests to decarbonize and integrate its value chain — moves that increase near-term costs but aim to lock in export markets and long-term competitiveness. If financing and project delivery proceed as planned, the solar and alumina initiatives could transform EgyptAlum’s cost base and market positioning over the coming years.

Orascom Construction’s U.S. unit, The Weitz Company, has started work on the Four Seasons Resort and Residences Telluride in Mountain Village, Colorado — the first new luxury hotel-residential development in the area in more than 15 years. The 4.5-acre snow-front site will host a 532,000-square-foot complex with 52 hotel rooms, 43 hotel residences and 26 private residences, plus ski-in/ski-out access, a spa, residents’ club, indoor lap pool and a signature fine-dining restaurant. The project is being developed with Fort Partners and Merrimac Ventures.

Renewables and infrastructure form the backbone:

The Telluride contract complements Orascom’s wider push into energy and infrastructure. In June, the group brought its 650 MW Build-Own-Operate wind farm in Ras Ghareb fully online — completing the final 150 MW phase ahead of schedule — lifting its operational wind capacity to 913 MW and powering roughly 1.1 million homes. CEO Osama Bishai has signalled the company is assessing further green investments, including a potential 900 MW wind project, alongside major infrastructure builds such as a large hotel at Ras El Hekma.

Robust financials and record backlog support growth:

Orascom reported net income attributable to shareholders of USD 82.7 million in 1H 2025, up 26.5% year-on-year, while consolidated revenue rose 32.4% to about USD 1.96 billion. The company’s consolidated backlog — excluding its 50% stake in BESIX — reached a record USD 9.6 billion at end-June, and new awards jumped to USD 3.4 billion, led by large infrastructure contracts in the Middle East and hyperscale data-center work in the U.S. On a pro-forma basis including BESIX, backlog stood at USD 13.9 billion and new awards at USD 4.2 billion.

U.S. pipeline and data-center growth:

U.S. activity accounted for roughly 41% of revenue in the period and contributed USD 1.83 billion of new awards in the first half, driven by large data-center contracts exceeding 400 MW of capacity. Management has framed the Telluride resort as a strategic, high-profile execution in the U.S. that sits alongside its energy and infrastructure ambitions.

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

Your daily market lens, signing off.