Raya Holding for Financial Investments announced its consolidated and standalone financial results for the third quarter ending September 30, 2024. The results highlight the company’s remarkable financial performance and growth despite challenging economic conditions, showcasing its resilience and strategic vision.
Raya Holding reported a 42.4% year-on-year increase in group revenues, reaching EGP 32.3 billion in the first nine months of 2024. This growth was driven by strategic initiatives aimed at enhancing foreign currency revenues, which constituted 30% of total turnover. Additionally, gross profit rose to EGP 6.8 billion, representing a healthy year-on-year growth of 52.6%, with the gross profit margin improving by 1.4 points to reach 21.1%.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 67.1% year-on-year to EGP 3.7 billion, with the EBITDA margin improving by 1.7 points to reach 11.5%. Net income before minority interests grew 161% year-on-year to EGP 1.3 billion, reflecting a significant increase in the net profit margin to 4%, up 1.8 points.
During the third quarter of 2024, Raya Holding achieved record-breaking results, with revenues reaching EGP 12.2 billion, marking a 49.6% increase compared to 3Q 2023. Gross profit for the quarter amounted to EGP 2.5 billion, up 63.4% year-on-year, with a gross profit margin of 20.3%, reflecting an improvement of 1.7 points. EBITDA for 3Q 2024 grew by 80.6% year-on-year to EGP 1.3 billion, with an EBITDA margin of 10.9%, up 1.9 points. Net income before minority interests reached EGP 514 million, representing a 270% year-on-year increase, with a net profit margin of 4.2%, up 2.5 points.
The results also highlighted the outstanding performance of Raya Holding’s big 4 portfolio companies. Raya Trade contributed EGP 13 billion, achieving a 34% year-on-year growth, while Raya Information Technology recorded EGP 7.5 billion, reflecting a 58% growth compared to the previous year. Aman Holding generated EGP 4.3 billion, a 35% year-on-year increase, and Raya Customer Experience achieved revenues of EGP 1.9 billion, marking a 38% growth.
Raya Holding’s strong financial performance reflects its commitment to operational efficiency, innovation, and expanding its presence across high-growth sectors. Despite challenging economic conditions, the company continues to leverage its diversified portfolio to deliver sustained growth and create value for shareholders.