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

Today: Profit rise for Cleopatra Hospitals & more earnings updates

🔔 EGX30 ended +1.78% by market close at 40,753 points, the EGX70 rose +0.38% to 12,291 points, and the EGX100 also increased 1.08% to reach 16,399 points.

💸 The number of transactions reached 134,530 spread across 2,825,275,985 stocks leading to a turnover of EGP 6.9 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included Delta For Printing & Packaging (+20.0%), National Printing (+17.10%), and Qala for Financial Investments (+14.6%).

📉 Top losers for the market included Digitize for Investment And Technology (-19.92%), A Capital Holding (-11.77%), and Gogreen for Agricultural Investment (-10.51%).

⬆️ Top gainers for EGX30 included Qalaa Holdings (+14.6%), TMG Holding (+6.2%), and ADIB (+5.8%).

⬇️ Top losers included Misr Cement (-2.0%), Orascom Construction (-0.6%), and GB Corp (-0.5%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,469 per gram, down 0.32% day-on-day but up 6.46% month-on-month.

💲 The USD reached EGP 47.55 at the National Bank of Egypt.

💰 Cleopatra Hospitals Group (CLHO) posted record revenues of EGP 1.93 billion in Q3, marking a 33% year-on-year increase, fueled by rising patient volumes. Net profit rose 35% YoY to EGP 317 million. (Read more in our Deeper Look section.)

📉 Misr Chemical Industries (MICH) reported a 14% drop in net profit in the first four months of FY2025-26, totaling EGP 187.38 million, due to higher costs and lower financing income. This follows a Q1 net profit of EGP 134.93 million, down from EGP 155.9 million a year earlier, while revenues rose to EGP 273.09 million from EGP 260.3 million in the same three-month period last year. The company’s shares have risen 8.47% since the beginning of the year.

👇 International Agricultural Products (IFAP) posted a 19.5% decline in net profit in Q1 of its current fiscal year, bringing in EGP 111.27 million.  Sales rose to EGP 782.31 million from EGP 454.76 million in the same period of the year before. The company’s shares are up 216.59% since the start of 2025.

⬇️ International Company for Medical Industries (ICMI) reported an 82.8% reduction in net losses in the first nine months of 2025, totaling EGP 4.52 million, down from EGP 26.33 million in the same period last year. Revenues rose to EGP 48.66 million from EGP 38.75 million during the same period of 2024. The company’s share value is up 185.5% since the beginning of the year.

🛢️ Israel has resumed supplying Egypt with about 1.1 billion cubic feet of natural gas per day after maintenance at the Tamar and Leviathan fields, a government official told Asharq on condition of anonymity. Imports, which had dropped to around 750 million cubic feet during the maintenance, are expected to gradually rise to 1.2 billion cubic feet per day starting January under a revised agreement signed in July 2025, extending until 2040. To offset supply gaps, Egypt imported 16 LNG shipments this month and continues to expand its gas infrastructure and production targets.

💵 An IMF delegation arrives in Egypt today as the government seeks final approval for the combined fifth and sixth reviews of its USD 8 billion extended fund facility, three government sources told EnterpriseAM. Egypt’s case is strengthened by falling inflation, rising foreign reserves, 5.3% Q1 GDP growth, privatization progress, and major FDI projects—including Qatar’s recently announced USD 29.7 billion Alam El Roum project, part of which will help reduce public debt. Officials aim to reach a staff-level agreement during meetings through 12 December, potentially unlocking USD 2.7 billion from the IMF and USD 274 million in climate financing.

Cleopatra Hospitals Group (CLHO) reported record third-quarter revenues of EGP 1.93  billion, up 33% YoY, driven by higher patient volumes, robust outpatient and inpatient growth, and increased surgical and diagnostic procedures. Net profit climbed 35% YoY to EGP 317 million.

Earnings per share are up 35% from 3Q of 2024, standing at EGP 0.22.

9M 2025 overview:

For the first nine months of 2025, CHG achieved record consolidated revenues of EGP 5.32 billion, marking a 39% YoY increase. Net profit for 9M 2025 reached EGP 839 million, a 39% YoY rise. Growth was supported by both core hospitals and newer facilities, along with operational efficiencies, cost optimization, and an improved patient mix, according to its management

Volume growth: Total cases served rose 14% YoY, with outpatient visits up 15%, inpatient cases up 14%, and surgical procedures up 6%. Emergency visits and catheterizations also increased notably.

In line with previous expectations:

Earlier in October, Cleopatra Hospitals said it expected Q3 revenues to rise more than 30%, 9M 2025 revenues to rise more than 35%, driven by robust patient volume growth, strategic pricing initiatives, optimized case mix across the Group’s hospitals, and the ramp-up of recently added facilities.

It also projects full-year 2025 revenues to exceed EGP 7 billion. 

Operationally, CLHO will launch Cleopatra El Tagamoa in Q4 2025 and expand Cleopatra October by year-end. By 2026, the Group plans to add roughly 540 beds, increasing total bed capacity by over 60% and nearly doubling its operational footprint, while continuing efficiency improvements and strategic initiatives in medical tourism and Centres of Excellence. These expansions underpin expectations for 2026 revenue growth of over 40%, with continued “double-digit” margin improvement.

But management thinks its share value does not reflect its strength:

“We continue to believe that Cleopatra Hospitals Group’s current share price does not fully reflect the strength of our brand, the quality and scale of our growing bed capacity, nor the substantial capital we have invested to position the Group for accelerated high-quality growth into 2026 and beyond,” the company’s CEO Ahmed Ezzeldin said yesterday. 

The company’s share value is up 45% since the start of the year to reach EGP 11.70.

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

Your daily market lens, signing off.