AMOC among Forbes ranking of Egypt’s most profitable firms for 4th year

Updated 9/28/2025 10:29:00 AM

Arab Finance: Alexandria Mineral Oils Company (AMOC) has secured a spot on Forbes’ ranking of Egypt’s top companies for profitability and market value for the fourth consecutive year, according to a statement by the Ministry of Petroleum and Mineral Resources.

The announcement came during AMOC’s annual general meeting for fiscal year (FY) 2024/2025, attended by Petroleum Minister Karim Badawi.

The minister praised AMOC’s strong performance and highlighted its pivotal role in boosting production capacity, meeting domestic demand, reducing import costs, and expanding export opportunities.

In addition to its Forbes recognition, AMOC joined the Egyptian Exchange’s (EGX) new EGX35-LV index, which includes 35 companies with high liquidity and lower price volatility.

For his part, AMOC’s Chairman Maged ElKordy presented the company’s performance indicators for the FY, noting that the company produced 172,000 tons of oils and waxes, marking 108% of its target, while maintaining profitable product mixes such as diesel, naphtha, and butane at 442,000 tons.

The company also produced 666,000 tons of mazut and supplied 1.191 million tons to the domestic market, worth EGP 33.66 billion, he added.

Moreover, it succeeded in expanding exports to new markets, particularly in Africa, by 9% year-on-year (YoY), with 70,000 tons sold abroad, generating $65 million, ElKordy said.

Financial indicators also reflected an 11% YoY surge in revenues, reaching nearly EGP 38 billion from EGP 34 billion, while net profits rose to EGP 1.552 billion.

Meanwhile, total investments hit EGP 5.6 billion, up 7.4% YoY, while shareholders’ equity grew by 9% to EGP 5.422 billion.

The company reaffirmed its commitment to occupational safety, environmental sustainability, and carbon reduction, while investing EGP 23 million in community development projects spanning infrastructure, education, and healthcare.

The ordinary general meeting (OGM) approved a cash dividend of EGP 0.80 per share, while the extraordinary general meeting (EGM) endorsed a shift in AMOC’s fiscal year to run from January to December instead of July to June.