Corporate news
Earning-Commentary Rameda [RMDA]
Target Price:EGP 7.41
Rameda Powers Ahead in 2025: Double-Digit Growth, Expanding Margins, and a Strong Pipeline for the Future
Rameda continued to deliver strong performance during the first nine months of 2025, reporting solid growth across all business segments. Revenues surged 66% year-on-year to EGP 3.0 billion, while EBITDA rose 71% to EGP 849 million, driven by broad-based growth in private sales, tenders, and exports. Gross profit increased 70% to EGP 1.4 billion, with margins improving to 46.9% supported by portfolio repricing and higher factory utilization. Private sales climbed 53% to EGP 2.2 billion, representing 73% of total revenues, while tender sales more than tripled to EGP 414 million following the Unified Procurement Authority’s resumption of regular purchasing activity. Exports rose 22% to EGP 169 million, and toll manufacturing revenues jumped 88% to EGP 220 million. Despite a 21% decline in 3Q25 net income to EGP 96 million due to higher financing costs from inventory buildup and recent acquisitions, core net income for the nine-month period grew 34% to EGP 279 million, reflecting resilient underlying operations. With expanding margins, portfolio growth in chronic care and CNS therapies, the strong performance of its cosmetics arm “Glow,” and a recovering private market, Rameda is well-positioned to sustain its growth trajectory, enhance profitability, and maximize long-term shareholder value.
Mariam Rafek-Equity Analyst
MHany@egy.primegroup.org