SNG: Egypt Kuwait Holding achieves 44% year-on-year growth in normalised earnings for Q1 2025

About this update from Boursa Kuwait Securities Company (k.p.s.c)

Staff WriterKUWAIT / EGYPT - Kuwait Holding Company (EKHO.CA and EKHOA.CA on the Egyptian Exchange and ‎EKHK.KW on Boursa Kuwait), one of the MENA region’s leading investment companies, reported today its ‎consolidated results for the quarter ended 31 March 2025.‎EKH recorded revenues of USD 195million for 1Q 2025, marking a 1% y-o-yincrease and a solid 17% sequential ‎growth, driven by stronggrowth momentum across the portfolio, particularly in the fertilizer and ‎petrochemicalsectors, underpinned by operational efficiency and favourable market dynamics. The Group ‎maintained healthy profitability, with gross profit and EBITDA margins recording 39% and 38% respectively, ‎supportedby efficient cost management and sustained operational strength of core business segments. ‎Meanwhile, net profit recorded USD 39.5 million compared to USD 72.0 million in 1Q 2024, the latter of which was ‎boosted by FX gains amounting to USD 40.2 million. Excluding the impact of FX gains, net profit for the first ‎quarter of 2025grew by a normalised24% y-o-y. Net profit margin came in at 20% during 1Q 2025. Net profit ‎attributable to equity holders amounted to USD 34.1mn in 1Q25, compared to USD 62.6mn in 1Q24 which included ‎‎39.0mn in FX gains. Excluding 1Q24 FX gains, attributable net profit grew by a normalised 44% y-o-y in 1Q25.‎Commenting on the Group’s performance and business outlook, EKH Chairman Loay Jassim Al-Kharafi:“I am ‎pleased to report that we started off 2025 with continuous momentum, delivering resilient performance amid a fluid ‎macroeconomic backdrop.‎This quarter, we successfully advanced our transformation agenda while maintaining healthy contributions across ‎key sectors, including fertilizers, petrochemicals, and utilities. Our revenue base continues to benefit from ‎meaningful USD-linked income, providing natural resilience to currency risk. Diversifying and growing our FX ‎profile remains a core strategic priority, supported by our expanding international footprint and focus on export-‎oriented sectors.‎Strategically, we have made notable progress. We are set to kickstart commercial operations in Saudi Arabia by ‎the end of 2Q25, this marks our first fully owned investment in the Kingdom as well as a key milestone in our ‎regional expansion plans. Our MDF project, Nilewood, is in the final commissioning phase and remains on track to ‎commence operati...

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