Valmore Holdings Reports $186 Million Net Profit Amid Growth Initiatives

Alanbatnews -

Valmore Holdings, a company operating in the oil, gas, electricity, fertilizer, and petrochemical sectors, announced a net profit of $186 million. The company, formerly known as Egyptian Kuwaiti Holding, attributed the profit to strong operational growth and improvements in its investment portfolio structure.

The company's revenue reached $685 million, marking a 24% year-on-year increase. This growth was fueled by revenue increases across most of the company’s sectors, an improved operating environment, and the continued execution of initiatives to enhance its investment portfolio.

According to a press release, the net profit attributable to the company's shareholders amounted to $161 million. Operating profit before interest, taxes, depreciation, and amortization (EBITDA) rose by 26% year-on-year, reaching $322 million.

In the fourth quarter, revenues increased by 15% year-on-year to $166 million.

Valmore's Chairman, Louai Jassim Al-Kharafi, stated that the company has successfully built a diverse investment portfolio, focusing on the Egyptian market, over nearly three decades under its previous name. He added that the board of directors is adopting a strategy to reposition the company, emphasizing strategic direction and strengthening corporate governance practices.

Al-Kharafi noted that the name change to Valmore Holdings reflects the company's commitment to capital allocation, institutional strength, and leveraging investment opportunities across various markets.

In the oil and gas sector, the North Sinai offshore gas field concession generated $61.3 million in revenue. Gross profit increased by 6% year-on-year to $37.2 million, with a gross profit margin growth of 4 percentage points to 61%. Operating profit before interest, taxes, depreciation, and amortization (EBITDA) reached $49.1 million, and net profit stood at $33.3 million, a 7% year-on-year increase, with a net profit margin of 54%.

The company highlighted the sustainability and growth opportunities within the North Sinai offshore gas field concession, supported by a 10-year extension of the concession agreement and the acquisition of a new concession area near the central processing station in Romana. Additionally, a new fixed gas price, approved in November, will be applied to additional gas quantities from new projects, starting with Phase IV, which is expected to commence production in early 2027.