Equity Analysis /

Egypt Aluminum: Margins to dive on electricity shocks; cut FV to EGP52.17; reiterate Equalweight

    Tellimer Research
    2 August 2018
    Published byTellimer Research
    EGAL reported FY17/18 revenue of EGP13.5bn, up 48% y/y. Revenues grew on the back of 1) 6% growth in sales volume, which recorded 317k tons and 2) rising aluminum prices, implying an average revenue/ton of USD2,412, up 18.8% y/y.