Corporate news
Earning Commentary Raya Holding -[RAYA]
Raya Holding delivered strong performance during the first nine months of 2025, with consolidated revenues rising to EGP 45.5 bn compared to EGP 32.3 bn last year, reflecting 41% Y-on-Y growth, alongside a significant increase in foreign-currency revenues which reached EGP 13.1 bn, representing 28.7% of total revenues and underscoring the success of the Group’s regional expansion and income diversification strategy. Gross profit grew to EGP 9.6 bn with the gross margin improving to 21.2%, supported by sustained operational strength across subsidiaries. General and administrative expenses reached EGP 3.04 billion, while selling and marketing expenses grew to EGP 1.6 bn in line with the Group’s efforts to reinforce market presence and expand internationally. EBITDA increased to EGP 5.3 bn with an 11.7% margin, driven by continued operational expansion, while net finance expenses rose to EGP 1.07 bn due to the expansion of the non-banking financial services portfolio and higher reliance on bank financing. Ultimately, net profit after minority interest surged to EGP 1.6 bn, supported by strong foreign-currency-denominated revenue growth, particularly from export-oriented segments such as BPO, technology, and infrastructure.
Mariam Rafek-Equity Analyst
MHany@egy.primegroup.org