Deputy Prime Minister reviews record FY 2025/26 performance as digital transformation and restructuring strengthen profitability across Egypt’s state-owned industrial portfolio
CAIRO — Egypt’s Metallurgical Industries Holding Company (MIHC) reported record preliminary financial results for the fiscal year ended 30 June 2026, with several flagship subsidiaries delivering historic profits as Deputy Prime Minister for Economic Affairs Dr. Hussein Eissa praised the group’s transformation during a strategic performance review.
During a meeting lasting more than two hours, Dr. Eissa met with MIHC Chairman and Managing Director Eng. Mohamed El-Saadawy and chief executives of the holding company’s subsidiaries to assess financial performance, review investment programmes and monitor progress on ongoing restructuring and digital transformation initiatives.
The meeting highlighted the group’s improving operational efficiency and financial performance, reinforcing the government’s broader strategy to modernise state-owned industrial enterprises through stronger governance, technology adoption and targeted investment.
Record Financial Performance
According to preliminary financial indicators presented during the meeting, the holding company delivered one of its strongest performances in recent history, reflecting improved operational efficiency and stronger profitability across its metals, mining and engineering businesses.
Key subsidiaries reported:
- Egypt Aluminium Company (Egyptalum): approximately EGP 15 billion in net profit.
- El Nasr Mining Company: profits exceeding EGP 3 billion.
- Egyptian Ferroalloys Company: around EGP 600 million in profit.
- Iron & Steel Company for Mines and Quarries: profits exceeding EGP 466 million.
- El Nasr Automotive Manufacturing Company: its first recorded annual net profit, reaching approximately EGP 150 million.
- Egyptian Copper Works: returned to profitability for the first time in years, generating more than EGP 200 million after a prolonged period of losses.
Reviewing the results, Dr. Eissa described the Metallurgical Industries Holding Company as one of Egypt’s strongest-performing state-owned holding companies during the current fiscal year, commending management’s efforts to improve financial performance and accelerate industrial development.
Digital Transformation Nears Completion
El-Saadawy also presented an update on the group’s digital transformation programme, highlighting the implementation of an Enterprise Resource Planning (ERP) system across the holding company’s subsidiaries.
The ERP rollout has exceeded 97% completion in several companies, including the Egyptian Ferroalloys Company, with implementation progressing across the wider portfolio.
Once fully operational, the integrated platform is expected to enhance financial transparency, procurement efficiency, inventory management, operational control and corporate governance throughout the group.
The meeting also reviewed investment strategies for each subsidiary, implementation progress on current projects and future expansion plans designed to strengthen competitiveness and increase production capacity.
Dr. Eissa stressed the importance of completing ERP implementation across all subsidiaries while maintaining scheduled delivery of ongoing investment projects, describing digital integration as a key driver of long-term industrial competitiveness.
Restructuring Programme Produces Tangible Results
The latest financial performance reflects the broader restructuring programme underway across Egypt’s public industrial sector, where operational modernisation, improved governance and targeted investment are increasingly translating into stronger financial returns.
The return to profitability by previously loss-making companies, particularly in the automotive and copper manufacturing sectors, illustrates the early impact of restructuring efforts aimed at restoring commercial viability across state-owned industrial enterprises.
Nevertheless, sustaining these gains will depend on continued investment discipline, successful completion of digital transformation projects, export competitiveness and the group’s ability to navigate fluctuations in global metals markets and industrial demand.
Senior Industry Participation
The meeting was attended by MIHC’s senior executive leadership, including Vice Chairman for Financial Affairs Saeed Sweilem, together with managing directors and chairpersons representing Egypt Aluminium, Egyptian Copper Works, El Nasr Mining, Egyptian Ferroalloys, Iron & Steel Company for Mines and Quarries, Delta Steel, El Nasr Automotive, El Nasr Steel Pipes, El Nasr Forging, Alexandria Refractories, El Nasr Glass & Crystal, Chini Company and Anode Blocks Company.
Analysis
The Metallurgical Industries Holding Company’s latest results represent one of the strongest financial performances recorded by an Egyptian state-owned industrial holding company in recent years. Beyond record earnings at major subsidiaries such as Egypt Aluminium and El Nasr Mining, the return of historically underperforming companies to profitability suggests that restructuring, stronger corporate governance and digital transformation initiatives are beginning to reshape the financial profile of Egypt’s public industrial sector. If sustained, these reforms could strengthen the sector’s contribution to industrial production, exports and long-term economic growth while supporting the government’s wider strategy to enhance the competitiveness of state-owned enterprises.
