Egypt

EDITA: Covid-19 takes a toll on 1Q20 earnings

  • Topline came in at EGP964 million (-1.8% YoY and -11.7% QoQ) on account of lower packs sold (-5.2% YoY and -15.2% QoQ).

  • Gross profit amounted to EGP335 million (-3.4% YoY and -16.3% QoQ), reflecting a GPM of 34.8% (-0.6pps YoY and -1.9pps).

  • Net profit amounted to EGP64 million (-43.7% YoY and -41.3% QoQ) and NPM amounted to 6.7% (-5.0pps YoY and -3.4pps QoQ).

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