These are the top 50 Egyptian companies in 2022: Forbes

These are the top 50 Egyptian companies in 2022: Forbes

Image credit: Forbes Middle East

On June 5, Forbes Middle East revealed a list of its top 50 Egyptian companies in 2022 so far. Despite continuing economic tensions, these 50 companies have significantly outperformed themselves over the past year, as data shows.

The ranking highlights key players across all sectors, using Egyptian stock market data, market value, sales, assets and profits.

“The aggregate market value of the top 50 listed companies in Egypt is equal [EGP 531.9 billion] USD 28.5 billion, while the asset value exceeds [EGP 2.6 trillion] 142 billion dollars. The companies generated [EGP 727.8 billion] USD 39.1 billion in aggregate revenues e [EGP 100.7 billion] 5.4 billion dollars of net profit “, reads the article.

Banking and financial services companies dominate the list, with 16 companies in total in attendance. The real estate and industrial sectors – which includes the likes of agriculture, textiles and engineering – follow with eight and seven companies respectively.

Commercial International Bank, Egypt’s largest private bank, tops the list with total assets of EGP 499.3 billion ($ 26.8 billion) in 2021. Qatar’s national bank Al Ahli ranks second. with 359.5 billion EGP (19.3 billion dollars).

Telecom Egypt, Egypt’s largest telecommunications company, follows in third place with total assets worth EGP 91.2 billion (USD 4.9 billion), followed by industrial leader Elsewedy Electric with EGP 67 billion (USD 3.6 billion) and real estate leader Talaat Mostafa Group Holding at EGP 139.7 billion (USD 7.5 billion).

In addition to the financial and industrial sectors, healthcare, automotive and food companies also appear in the ranking.

Ghabbour Auto Group, the country’s leading auto company, ranks 17th with total assets of EGP 31.6 billion ($ 1.7 billion). In 26th place, Integrated Diagnostics Holdings leads the healthcare sector with EGP 6.2 billion ($ 335 million). Meanwhile, Juhayna Food Industry ranks 30th – the highest in the food and beverage sector – with EGP 5.4 billion ($ 294 million).

Of the 50 companies, two are led by female CEOs: Yasmin Khamis of Oriental Weavers and Hend El Sherbini of Integrated Diagnostics Holdings.

The Egyptian government is looking to further boost its trade performance after announcing a broad overview privatize various state-owned assets, including the stock exchange listing of domestic companies and offering up to EGP 745 billion ($ 40 billion).

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