Arab Finance: El Ezz Porcelain (Gemma) incurred net losses after tax valued at EGP 85.071 million in the first quarter (Q1) of 2026, an annual hike of 179.86% from EGP 30.397 million, according to the financial results.

Net sales increased by 5% YoY to EGP 668.774 million in Q1 2026 from EGP 638.132 million.

Basic loss per share hit EGP 1.59 at the end of March 2026, versus EGP 0.57 a year earlier.

The management commented: “The company's first-quarter 2026 results reflected a gradual improvement in performance across its key markets, with operating income increasing by 26% compared to the previous quarter, despite ongoing economic challenges and a difficult operating environment.”

“Performance during the period was impacted by seasonal factors associated with the coincidence of the quarter with the holy month of Ramadan, in addition to pressures from both macroeconomic and microeconomic conditions, which weighed on production and sales levels,” it added.

Gemma also highlighted the increases in energy, raw material, and financing costs, alongside intense price competition from low-cost imported products, particularly from Asian markets.

However, the EGX-listed company continued to successfully execute its strategy by boosting the contribution of porcelain products and expanding exports, which helped improve the sales mix and improve competitiveness in export markets, especially as exports benefited from foreign exchange movements.

At the end of December 2025, Gemma reported net losses totaling EGP 88.79 million, compared to net profits of EGP 74.36 million in 2024.