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

Today: GB Corp’s 9M 2025 profit rises 35.1% to EGP 2.42 bn; Palm Hills Developments’ 9M 2025 profit rises 50% to EGP 3.5 bn; Raya Holding’s 9M 2025 profit jumps 47% to EGP 1.6 bn; and Egypt Kuwait Holding’s 9M 2025 profit dips 2% to USD 137 mn.

🔔 EGX30 ended +2.54% by market close at 41,211 points, the EGX70 rose 0.41% to 12,196 points, and the EGX100 also grew 0.67% to reach 16,267 points.

💸 The number of transactions reached 155,849 spread across 2,300,366,452 stocks leading to a turnover of EGP 6.25 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included Macro Capital (+19.94%), Arab Co. for Asset Management And Development (+18.73%), and Telecom Egypt (+11.93%).

📉 Top losers for the market included Contact Financial Holding (-5.52%), Misr Beni Suef Cement (-5.51%), and The United Bank (-5.05%).

⬆️ Top gainers for EGX30 included Telecom Egypt (+11.93%), Eastern Company (+7.4%), and TMG Holding (+4.8%).

⬇️ Top losers included Misr Cement (-2.4%), Oriental Weavers (-2.4%), and Egypt Kuwait Holding -EGP (-1.6%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,262 per gram, up 0.13% day-on-day but down 3.54% month-on-month.

💲 The USD reached EGP 47.11 at the National Bank of Egypt.

💰GB Corp (GBCO) reported a 35.1 % rise in net profit to EGP 2.42 billion for 9M 2025, supported by strong revenue growth across its automotive and financial segments, easing inflation and FX pressures, and continued expansion in GB Capital. Revenue climbed 62.5 % to EGP 57.53 billion, with robust performance in passenger cars, commercial vehicles, two- to four-wheelers, and financing services, while 3Q 2025 saw stable profit despite higher finance costs. (Read more in our Deeper Look section.)

📉 Egypt Kuwait Holding (EKHO) reported a net profit of USD 137 million for the first nine months of 2025, down 2% year-on-year due to FX losses versus prior-year gains. Revenues rose 32% YoY to USD 576 million, driven by growth across fertilizers, petrochemicals, utilities, and diversified businesses. In 3Q 2025, net income fell 9% YoY to USD 35.2 million, while revenues grew 32% to USD 179 million. The firm’s stock value is down 9.83% since the start of 2025.

🏘️ Palm Hills Developments’ (PHDC) earnings rose 50% year-on-year to EGP 3.5 billion in the first nine months of 2025, with revenues up 42% to EGP 25.4 billion on strong new sales. In 3Q 2025 alone, net income surged 93% YoY to EGP 1.1 billion, and revenues increased 42% year-on-year to EGP 10.0 billion. The real estate developer’s shares are up 24.92% since the beginning of 2025.

🏛️Raya Holding’s (RAYA) net income jumped 47% year-on-year to EGP 1.6 billion during the first nine months of 2025, while revenues increased 41% to EGP 45.5 billion, driven by strong performance across its main subsidiaries and a 55% jump in foreign currency earnings. The third quarter alone saw net income climb 62% to EGP 740 million and revenues grow 45.5% year-on-year to EGP 17.7 billion. The company’s share value is up 3% since the start of the year.

💊 Ibnsina Pharma’s (ISPH) net profit jumped 62.3% year-on-year to reach a record  EGP 659.8 million in the first nine months of 2025, with revenues up 44.2% to EGP 55.4 billion, supported by strong sales growth and continued market leadership. In 3Q 2025, net income rose 46.6% YoY to EGP 271 million and revenues increased 30.5% to EGP 20.3 billion. The company noted it held a 31% share of the pharmaceuticals distribution market, while the non-pharmaceutical market share was

32.4% during the period. Its share value is up 51% year-to-date.

🧶Oriental Weavers’ (ORWE) net profit fell 19% year-on-year to EGP 1.8 billion during the first nine months of 2025, despite a 13% revenue increase to EGP 19.5 billion, mainly due to higher average selling prices. In 3Q 2025, net income dropped 8% YoY to EGP 646 million, while revenues grew 7% year-on-year to EGP 6.9 billion. The carpet maker’s stock value is down 6% since the start of 2025.

🏠 Bonyan’s (BONY) earnings for the first nine months of 2025 rose slightly by 1% year-on-year to EGP 1.8 billion, while rental revenues grew 32% to EGP 547 million, supported by contract renewals and new leases. In the third quarter alone, net income surged 207% to EGP 779 million, boosted by fair value gains from the newly recognized Golden Gate asset. The company’s gross asset value also climbed 9% year-to-date to EGP 17.4 billion, reflecting ongoing property appreciation.

🌱 Misr Fertilizers Production Company - Mopco (MFPC) posted a 33% drop in net profit to around EGP 8 billion for 9M 2025, despite a 42% rise in sales to EGP 18.6 billion, reflecting rising costs and margin pressures. This comes after the company announced plans to invest up to USD 250 million next year to boost production capacity by 10% and expand into new export markets. The company’s stock rose 6.3% since the beginning of the year.

🏗️ Egypt’s President El Sisi inaugurated three new terminals at East Port Said worth a total of USD 724 million, including a USD 500 million Maersk-led container terminal, a USD 159 million ro-ro terminal, and a USD 65 million multipurpose terminal. The upgrades boost the port’s capacity and reinforce its position as Africa’s top container port and the world’s third largest.

💼 Egypt’s unemployment rate ticked up to 6.4% in 3Q 2025 from 6.1% in 2Q, ending a three-quarter streak of declines, even as it remained lower than the 6.7% recorded a year earlier. The rise came alongside a larger labor force, which expanded 3.3% q-o-q as both employment and unemployment increased in absolute numbers. Female unemployment continued to improve year-on-year, while male and urban joblessness saw mild quarterly increases.

💵 Egypt plans to issue international bonds worth USD 1.5 to 2 billion in the second half of the 2025-2026 fiscal year to expand its funding base, a government official told Asharq Business. Preparations include assessing global debt markets, timing the issuance, and coordinating with international investment banks. This move comes as Egypt’s budget deficit rose to 2.5% of GDP in the first quarter of the current fiscal year, up from 2.1% a year earlier.

🚢 Egypt’s non-oil exports rose 18.6% year-on-year to USD 40.5 billion in the first ten months of 2025, a government official told Asharq Business. The increase was driven by higher shipments of building materials, chemicals, and engineering products, with non-oil exports expected to reach USD 48–50 billion by year-end. The official noted that boosting exports is central to supporting Egypt’s foreign currency position and improving its external accounts.

GB Corp (GBCO) reported net profit of EGP 2.42 billion for the nine months ending 30 September 2025, up approximately 35.1% year‑on‑year. The increase was driven by strong revenue expansion across all operating segments, easing inflationary and FX pressures that normalized supply and pricing conditions, and continued growth in GB Capital’s loan book and profitability.

The company, comprising 1.76% of the EGX 30 index weight, saw its share value rise 1.23% yesterday on news of its results, and is up 63.3% since the start of the year.

Revenue climbs 62.5 % in 9M on multiple drivers:

Total consolidated revenue reached EGP 57.53 billion, marking a 62.5 % increase compared with the same period last year. Growth was led by the Auto segment and GB Capital, with broad-based performance across passenger cars, commercial vehicles, construction equipment, two-, three-, and four-wheelers, as well as financing services.

3Q 2025 snapshot:

For the third quarter of 2025, revenue rose to EGP 21.68 billion, up 33.6 % year‑on‑year from EGP 16.24 billion in 3Q 2024. Net profit reached EGP 750.5 million, nearly flat (+0.6 %) versus the same quarter last year, but down 28.3 % sequentially from 2Q 2025 due to higher finance costs. Sequentially, revenue increased 13.6 % from 2Q 2025, reflecting stable supply chains, recovering consumer demand, and improved operating conditions.

Segment performance highlights:

Remember, the company has been making moves:

During 9M 2025, GB Corp partially launched the Sadat CKD plant, on track for full capacity in 1Q 2026, and introduced Deepal to enter the REEV segment in Egypt. The company also launched new Changan CKD and CBU models, expanded Genesis offerings with three new models, and continued a strong export push with approximately 50 % of bus production sold internationally. GB Capital advanced its operations with CRM rollout, FCI membership for international factoring, branch expansion for Drive Finance, and rapid growth in SME lender Kredit.

Going forward:

Management highlighted expectations for momentum to continue into the final quarter of 2025, supported by declining interest rates, stable FX markets, recovering purchasing power, strong tourism activity boosting commercial vehicle demand, ongoing localization through the Sadat CKD plant, and continued expansion across GB Capital’s financing platforms. The company also sees opportunities from Egypt’s automotive development strategy and anticipates improving regional market dynamics as oversupply pressures ease in Iraq and Jordan.

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

Your daily market lens, signing off.