Egypt Kuwait Holding (EKH) recently convened its Ordinary and Extraordinary General Assemblies for the fiscal year 2024, during which all agenda items were approved, including the company\u2019s financial statements for the past fiscal year and the auditor\u2019s report.<\/p>\n
The General Assembly approved the distribution of dividends for the year 2024 amounting to USD 53.2 million, representing 19% of the Company’s capital. This includes a cash dividend equivalent to 14% of the share\u2019s par value, amounting to USD 39.11 million\u2014or 3.5 US cents per share. It also approved the distribution of stock dividends totaling USD 14.09 million, representing 5% of the company’s issued and paid-up capital\u2014granting shareholders one free share for every twenty original shares\u2014for the fiscal year ending December 31, 2024.<\/p>\n
Reflecting on the compnay\u2019s recent performance, Loay Jassim Al-Kharafi, Chairman of the board of EKH, said: “We are proud of the Group\u2019s strong performance last year, during which we maintained robust profitability across all operating sectors. We look forward to 2025 as the launchpad for a new phase of growth and selective expansion, driven by an ambitious strategy to cement our Group\u2019s and subsidiaries’ market standing and expanding our presence regionally and globally.”<\/p>\n
He added: “The growth we achieved in revenues and increased investments reflects the strength of our financial position, the resilience of our business model, and our ability to achieve sustainable growth despite local, regional, and global market challenges. At the same time, we remain committed to continuous development and pursuing promising opportunities.”<\/p>\n
Al-Kharafi noted that the Group successfully navigated the operational and economic challenges of 2024 thanks to the efficiency of its strategy and the flexibility of its business model. This strengthened its ability to achieve sustainable growth and continue delivering long-term results. The company\u2019s strong performance in 2024 reflects a notable recovery in pricing and higher sales volume of key products), further reinforcing confidence in the Group\u2019s solid and sustainable business portfolio and paving the way for the implementation of its ambitious expansion plans in 2025.<\/p>\n
Jon Rokk, CEO of EKH, stated:”In 2025, we will continue to pursue opportunities aligned with our strategic objectives and actively contribute to generating added value for both our shareholders and clients.”<\/p>\n
He added: \u201cWe are gearing up to expand our footprint in 2025, with plans to enter the Saudi market for the first time and kick off a new project in Northern Europe. At the same time, we will continue growing our existing operations and strengthening our presence in the Egyptian market.” He noted that the company intends to spend between $150 million and $200 million in CAPEX over 2025 and 2026, targeting both new opportunities and the expansion of its existing portfolio.<\/p>\n
Rokk further affirmed that Egypt Kuwait Holding is embarking on a transformative chapter\u2014one that encapsulates its bold growth aspirations and forward-looking drive to build a strategic, agile organization.<\/p>\n
He also presented the Group\u2019s financial results for the previous year, during which revenues rose to $642 million, accompanied by a 40% growth in gross profit margin and a 39% increase in EBITDA margin. Net profit reached $185 million, with net profit margin increasing by 2 percentage points to reach 29%. The net profit attributable to the company\u2019s shareholders amounted to $163 million during the same period.<\/p>\n
In the fourth quarter of 2024 alone,\u00a0the company recorded revenues of $167 million\u2014reflecting 9% quarter-over-quarter growth\u2014driven by revenue increases across various subsidiaries, indicating improving market conditions. The company successfully maintained high profit margins despite economic headwinds, with gross profit and EBITDA margins reaching 41% and 42% respectively, while net profit for the fourth quarter amounted to $46 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
Egypt Kuwait Holding (EKH) recently convened its Ordinary and Extraordinary General Assemblies for the fiscal year 2024, during which all agenda items were approved, including the company\u2019s financial statements for the past fiscal year and the auditor\u2019s report. The General Assembly approved the distribution of dividends for the year 2024 amounting to USD 53.2 million, […]<\/p>\n","protected":false},"author":5,"featured_media":6644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[91,39,83,130,3720,15,103,3714],"tags":[2568,14274,14264,14272,14278,2036,14260,12862,14268,14262,14276,6151,1874,14286,3956,14288,14282,4764,14284,13358,220,13694,4824,14266,14270,14280,3468],"class_list":{"0":"post-6643","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-arab-countries-en","8":"category-business-economy-en","9":"category-egypt-en","10":"category-featured-en","11":"category-kuwait","12":"category-press-releases","13":"category-reports-research","14":"category-saudi","15":"tag-cairo","16":"tag-capex","17":"tag-cash-dividend","18":"tag-clients","19":"tag-ebitda","20":"tag-egypt","21":"tag-egypt-kuwait-holding","22":"tag-expansion","23":"tag-fy-2024","24":"tag-general-assembly","25":"tag-gross-profit-margin","27":"tag-investments","28":"tag-jon-rokk","29":"tag-kuwait","30":"tag-loay-jassim-al-kharafi","31":"tag-market-challenges","32":"tag-net-profit","33":"tag-northern-europe","34":"tag-revenues","35":"tag-saudi-arabia","36":"tag-saudi-market","37":"tag-shareholders","38":"tag-stock-dividend","39":"tag-strategic-direction","40":"tag-subsidiaries"},"yoast_head":"\n