EGP edges lower against USD in early Monday trade    Egypt delivers over 30 million health services through public hospitals in H1 2025    Egypt joins Geneva negotiations on Global Plastics Treaty, calls for urgent agreement    Madinet Masr in talks for three land plots in Riyadh as part of Saudi expansion    Egypt's PM tells Palestinian PM that Rafah crossing is working 24/7 for aid    Egypt, Japan discuss economic ties, preparations for TICAD conference    Real Estate Developers urge flexible land pricing, streamlined licensing, and dollar-based transactions    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt's Supreme Energy Council reviews power supply plans for 14 industrial projects    Jordan condemns Israeli PM remarks on 'Greater Israel'    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egytrans targets EGP 40m profits in 2019
25% CAGR in revenues in three years, says Abir Leheta
Published in Daily News Egypt on 04 - 04 - 2019

Abir Leheta, the chairperson of Egytrans, expects her company to achieve revenues worth $245m in 2019, compared to $278m in 2018, with an 11.9% decline.
The financial results of Egytrans for 2018 showed that a major progress was achieved in the business size and revenues over the period during which the strategic plan of Egytrans was implemented from 2015 to 2018, as the company managed to achieve a compound annual growth rate (CAGR) of 25%, compared to the average market growth rates which achieved 4.5%.
The growth trend was attributed to focusing on a strategy to diversify the business portfolio and control cash flow and expenses, which allowed Egytrans to achieve a major growth in profits before taxes, waste and consumption by 450% over the period when the strategy was implemented.
The year 2018 was an exceptional year for Egytran's usual activities, which achieved aggregated growth by 34% compared to the previous year, to take the revenues of the usual activities to EGP 128m, which partially contributed to equating the expected negative impact as a result of the declining revenues of specialised projects.
She revealed that more than one option is being considered to enter into projects, including local transport and logistics, pointing out that five new trucks were bought to be added to the land transport fleet, then the plan was altered to increase the number of trucks to 10 in 2019 with an investment cost of EGP 8m.
Leheta expected profits to decline to EGP 40m in 2019. The company saw a decline in net profits after taxes during the year by 45.9% to EGP 41.8m, while in 2017 they amounted to EGP 77.3m. The net profit margin dropped to 15%, compared to 21.9% in 2017.
The major increase in the revenues of usual activities has contributed to reducing the decline in the net profits, in addition to a decline in the selling, as well as general and administrative expenses due to the focus on controlling expenses and cash flow, in addition to the positive increase in investment revenues and net revenue of interests which reached EGP 5.5m, alongside with the reduction of tax allocations of Egytrans and ETAL and the major 3-fold decline in annual taxes.
Leheta said that the absence of major projects with high profit margins resulted in a noticeable increase in the cost/revenue rate which reached 1120.3 basis points, recording 69.3% in 2018, compared to 58.1% in 2017, which contributed to a decline in the profit margin before interests, taxes, waste and consumption by 1334.4 bsp, dropping to 17.7%, compared to 32.2% during 2017.


Clic here to read the story from its source.