Gas Egypt reported a 12.2% increase in first-half net profit to EGP 234.7mn, putting the state-linked gas services company more than halfway towards its full-year earnings target as revenues continued to expand.
Net profit after tax rose to EGP 234.7mn in the six months to June 30, 2026, from EGP 209.2mn in the same period last year, according to financial statements disclosed to the Egyptian Exchange. Revenue reached EGP4.7bn, compared with EGP3.6bn a year earlier.
The first-half result represents almost 56% of Gas Egypt’s EGP420mn profit target for 2026, while revenue has reached roughly half of its EGP9.5bn full-year target. The comparisons indicate that earnings are running ahead of the straight-line pace required to meet the company’s annual budget, although second-half performance will determine whether the targets are achieved.
The results build on growth in 2025, when Gas Egypt’s net profit increased 7.45% to EGP 312.6mn, from EGP 290.7mn a year earlier. Revenue rose to EGP 8.98bn from EGP7.5bn. Shareholders subsequently approved a cash dividend of EGP0.50 per share for the year.
Gas Egypt is also stepping up investment. Its 2026 capital budget stands at EGP595mn, compared with EGP327mn allocated for the previous year, as the company commits additional capital to businesses operating across energy, maintenance and petroleum services.
The company will maintain its 20.95% holding in Gas Cool, the Egyptian Company for Energy and Cooling Projects, after Gas Cool’s board approved an increase in paid-up capital to EGP600mn from EGP400mn. Gas Egypt said it would participate in the increase in proportion to its existing stake.
Gas Egypt has also maintained its 20% interest in SIANCO following an increase in the technical services and equipment maintenance company’s capital to EGP100mn from EGP60mn. Its 25% stake in Petrotrade was similarly retained after the petroleum services company increased its capital to EGP250mn from EGP100mn.
The combination of higher first-half earnings, a larger capital budget and continued investment in affiliated businesses leaves Gas Egypt entering the second half with EGP185.3mn of additional profit required to meet its EGP420mn full-year target. With almost 56% of that target already achieved by June, execution in the second half — rather than revenue growth alone — will determine whether the company converts its expanding activity into its planned increase in annual earnings.
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