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

Today: E-Finance’s 9M 2025 profit rises 43% to EGP 2 bn; Telecom Egypt’s 9M 2025 profit nearly doubles to EGP 16.97 bn; Orascom Construction’s 9M 2025 profit rises 53.2% to USD 133.3 mn; and Eastern Company’s FY 2024‑25 profit hits a record EGP 9.7 bn.

🔔 EGX30 ended -0.09% by market close at 40,190 points, the EGX70 fell 0.50% to 12,147 points, and the EGX100 also dropped 0.29% to reach 16,158 points.

💸 The number of transactions reached 154,498 spread across 1,865,452,648 stocks leading to a turnover of EGP 7.3 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included Egyptian Real Estate Group (16.94), Misr Beni Suef Cement (+14.84%), Misr Cement -Qena (+11.06%)

📉 Top losers for the market included Pioneers Properties For Urban Development (-4.94%), Arab Dairy Products Company -Panda (-4.69%), Sinai Cement (-4.48%).

⬆️ Top gainers for EGX30 included Misr Cement (+11.06%), Telecom Egypt (+6.4%), and E-finance (+3.4%).

⬇️ Top losers included Beltone Holding (-4.2%), Arabian Cement (-3.7%), and Juhayna (-3.0%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,449 per gram, up 0.42% day-on-day and up 2.96% month-on-month.

💲 The USD reached EGP 47.15 at the National Bank of Egypt.

💰 Majority government-owned fintech titan E-Finance (EFIH) reported adjusted net profit of EGP 2 billion for the first nine months of 2025, up 43 % year-on-year, driven by strong performance across its subsidiaries, growing adoption of digital payment solutions, and improved contract pricing in tax, customs, and tourism sectors. Total revenues rose 44 % to EGP 4.97 billion. (Read more in our Deeper Look section.)

📱 Telecom Egypt (ETEL) nearly doubled its net profit in the first nine months of 2025 to EGP 16.97 billion, driven by strong revenue growth from data services, international incoming calls, and operational efficiency. Total revenue rose 34 % to EGP 78.06 billion. (Read more in our Deeper Look section.)

💸 Orascom Construction (ORAS) posted a 53.2 % year-on-year rise in 9M 2025 net profit to USD 133.3 million, supported by strong revenue growth in MEA and US operations and continued progress on key infrastructure, energy, and industrial projects. Consolidated backlog reached USD 8.6 billion, providing solid revenue visibility, while new awards totaled USD 3.7 billion, highlighting ongoing expansion in core markets.(Read more in our Deeper Look section.)

🚬 Tobacco giant Eastern Company (EAST) reported record net income of EGP 9.7 billion for the last fiscal year, reflecting robust operational performance and sustained growth momentum. Total revenues jumped 82.9 % year-on-year to EGP 37.4 billion, supported by broader commercial activity and enhanced production and distribution capabilities. Remember, the company is one the Egyptian Exchange’s biggest players, comprising 9.49% of the EGX 30 index weight. Its share value is up  53% since the beginning of 2025.

📉 Raya Contact Center (RACC) posted a 30.39 % drop in consolidated net profit to EGP 217.533 million for the first nine months of 2025, down from EGP 312.505 million a year earlier. Consolidated revenues rose to EGP 2.046 billion, up from EGP 1.895 billion, showing top-line growth despite lower profits. The company’s share value is up 30.61% since the start of the year.

👀 Fawry plans to invest over EGP 1.6 billion annually to upgrade technology, develop products, and expand abroad, aiming for 50% business growth by year-end, EnterpriseAM reported this morning. CEO Ashraf Sabry said the company is pursuing new financial licenses in Egypt, focusing on mid-sized company lending, and preparing to enter the Saudi market through local partnerships once regulatory approvals are secured.

💰Singapore’s Destiny Energy plans to build a USD 210 million green hydrogen and ammonia plant in the SCZone, targeting daily output of 53 tons of green hydrogen and 300 tons of green ammonia. The project’s renewable power source is still undecided, but officials say it will help Egypt’s carbon-intensive exporters — particularly fertilizers and cement, and steel — avoid heavy charges under the EU’s carbon border tax coming into full effect in 2026.

💵 The Finance Ministry plans to issue EGP 14 billion in sovereign sukuk in December, up from EGP 6 billion in November, a government source told EnterpriseAM, following strong demand for the first local sukuk issuance. The ministry will offer three ijarah-based tranches backed by Ras Shukeir land, aiming to expand the sukuk program to EGP 200 billion by June 2026 and reduce borrowing costs for the state.

🚚 UAE-based logistics and shipping firm DP World is negotiating with Egypt’s Transport Ministry to secure development and management rights for the Sadat dry port, Sayed Metwally, head of the General Authority for Land & Dry Ports, told Al Borsa earlier this morning. The ministry is reviewing DP World’s feasibility studies, with unofficial reports estimating the project could cost around USD 160 million. The company is also seeking to operate the 125-feddan Shaq El Tebaan dry port, whose previous tender was canceled after no bidders met technical standards, with a new tender expected next year.

Majority government-owned fintech company E-finance (EFIH) reported adjusted net profit of EGP 2.0 billion for the nine months ending 30 September 2025, up 43 % year‑on‑year. The increase was driven by strong operational performance across its subsidiaries, a growing adoption of digital payment solutions, and improved contract pricing across tax, customs, and tourism sectors.

Basic and diluted earnings per share reached EGP 0.35 in 9M 2025, from EGP 0.28 during 9M 2024 — marking a 24.9% increase, the company noted in a separate disclosure.

The company, holding 4.40% of the EGX 30 index weight, saw its share value rise 3.4% by the end of trading on Thursday on news of its earnings results, and is up 29% since the beginning of 2025.

Revenue climbs 44 % in 9M:

Total revenues reached EGP 4.97 billion, up 44 % from the same period last year. Growth was led by the company’s core digital operations, with significant contributions from its subsidiaries:

Details for 3Q:

For the third quarter of 2025, revenue rose to EGP 1.74 billion, up 50 % year‑on‑year. Adjusted net profit reached EGP 728 million, reflecting strong demand for digital payment solutions and continued growth across the group’s subsidiaries.

Strategic moves:

During 9M 2025, E-finance continued expanding its digital footprint across Egypt. Key initiatives included scaling cloud infrastructure for eTax and eHealth operations and boosting tourism ticketing services, which contributed significantly to revenue growth. Contract repricing across sectors helped offset inflationary pressures.

Looking ahead:

Management highlighted ongoing investments in digital platforms, expansion across strategic sectors, and continued adoption of high-margin fintech solutions. The focus remains on sustaining strong growth while capitalizing on Egypt’s digital economy expansion.

Telecom Egypt (ETEL) reported net profit of EGP 16.97 billion for the nine months ending 30 September 2025, up approximately 96 % year‑on‑year. The increase was driven by robust revenue growth, a stronger mix of higher-margin services—particularly data and international incoming calls—and tighter operational control.

Earnings per share reached EGP 9.94 during 9M 2025, compared to EGP 5.06 a year earlier — marking a 96.4% rise, the company noted in a separate statement.

The company, which comprises 4.29% of the EGX 30 index weight, saw its share value rise 6.4% by the end of trading on Thursday following news of its financial results, and is up 69.18% since the start of the year.

Revenue climbs 34 % in 9M on multiple drivers:

Total revenue reached EGP 78.06 billion, marking a 34 % increase compared with the same period last year. Growth was led by the Retail/Home & Personal Communications segment, higher international incoming traffic, and domestic wholesale services. Data services and international incoming calls contributed the largest share of revenue growth, supported by higher pricing and increased customer usage.

Capital loss from Ramses Central fire:

The financial statements also recorded a capital loss of EGP 1.48 billion due to a fire at Ramses Central building, partially offset by EGP 200 million in insurance recoveries, with investigations still ongoing.

3Q 2025 snapshot:

For the third quarter of 2025, revenue rose to EGP 27.63 billion, up 35 % year‑on‑year from EGP 20.41 billion in 3Q 2024. Net profit jumped to EGP 6.46 billion, a 204 % increase versus the same quarter last year. Sequentially, revenue increased around 7 % from 2Q 2025, reflecting continued demand growth and favorable pricing trends, the company noted.

Segment performance highlights:

Home & personal communications: brought in EGP 37.97 billion in revenues (+45 % YoY), the largest contributor to overall top-line growth.

International carrier services: contributed EGP 14.34 billion in revenues (+43 % YoY), driven by higher incoming traffic.

Domestic wholesale: EGP 7.88 billion (+24 % YoY), supporting infrastructure revenue expansion.

Enterprise services: EGP 7.28 billion (+15 % YoY), moderate growth relative to other segments.

Remember, the company has been making moves:

In September, Telecom Egypt expanded into a new Point of Presence at the Aqaba Digital Hub in Jordan. Earlier that same month, the company granted preliminary approval to Helios Investment's binding offer for a partnership in a Regional Data Hub to expand its business. Helios is targeting a 75–80% stake in a new subsidiary that owns the Regional Data Hub, valuing the data‑centre assets at USD 230 million, potentially rising to USD 260 million if certain KPIs are met.

Additionally, the company announced completion of "Coral Bridge," the Express Subsea Cable connecting Egypt and Jordan, in August.

Going forward:

Management highlighted ongoing investments in network infrastructure, expanding international incoming traffic, and strengthening service offerings to support Egypt’s digital economy. Focus remains on sustaining growth through higher-margin services and increased customer engagement.

Orascom Construction (ORAS) reported net profit of USD 133.3 million for the nine months ending 30 September 2025, up 53.2 % year‑on‑year. The increase was driven by higher revenues across all core regions and strong execution on infrastructure, energy, and industrial projects.

Earnings per share reached USD 1.21 during 9M 2025, compared to USD 0.79 a year earlier — reflecting a 53.1% rise, the company noted in a separate statement.

The company, comprising 2% of the EGX 30 index weight, is up 71.5% in stock value since the start of the year.

Revenue climbs 48 % in 9M on MEA and US project execution:

Total revenue for 9M 2025 reached USD 3.43 billion (up 47.8 % YoY). Growth was led by MEA operations, which generated USD 2.03 billion (up 88.5 % YoY), driven by high-speed rail, metro expansions in Cairo and Alexandria, and power and water projects in KSA and UAE. US operations contributed USD 1.40 billion (up 12.5 % YoY), including data centers, aviation, and residential developments.

Details for 3Q:

For the third quarter of 2025, revenue reached USD 1.47 billion (up 74.8 % YoY). Net profit was USD 50.3 million (up 134.3% YoY), reflecting continued strong project execution and operational efficiency. 

Backlog and new awards:

Consolidated backlog as of 30 September 2025 reached USD 8.6 billion (up 8.3 % YoY), providing future revenue visibility. Pro forma backlog including its 50 % share in Belgian company BESIX reached USD 12.9 billion (up 2.9 % YoY). New awards during 9M 2025 totaled USD 3.7 billion (up 44.2 % YoY), while pro forma new awards including BESIX reached USD 4.9 billion (down 12.4 % YoY).

Major project progress

The company completed the Grand Egyptian Museum (in partnership with BESIX), the A16 Rotterdam motorway in the Netherlands, and marine infrastructure at the Port of Neom in KSA. Power, water, transportation, and renewable energy projects continued to progress as well.

Dividends

The company also noted that it distributed USD 0.25 per share in August 2025. Total FY 2025 dividends to date reached USD 0.47 per share, up 20.7 % YoY.

Remember, the company has been making strategic moves

Remember, the company completed the migration of its primary listing to the Abu Dhabi Securities Exchange (ADX) and commenced trading. It is also pursuing a potential merger with OCI Global to create a scalable infrastructure and investment platform anchored in Abu Dhabi.

Egypt’s richest man Nassef Sawiris (owner of OCI Global) had told the Financial Times in September that the new merged entity could invest up to USD 50 billion in US infrastructure over the next decade.

Going forward:

Management highlighted ongoing investments in infrastructure, renewable energy, water, and industrial projects, along with expansion across Egypt, UAE, KSA, and the USA. Focus remains on executing high-margin projects, regional diversification, and leveraging new investment platforms.

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

Your daily market lens, signing off.