Cairo – Mubasher: Financial indicators for Egyptian Chemical Industries (KIMA) showed that the company turned from profitability to net loss during the first quarter of the fiscal year 2026-2027, on an annual basis.
The company explained in a disclosure to the Egyptian Exchange (EGX) today that it recorded a net loss of EGP 493.08 million during the period from July to the end of September 2026, compared to profits of EGP 482.71 million during the corresponding period of the fiscal year 2025-2026.
The company's sales rose during the three months to reach EGP 2.67 billion, compared to EGP 1.18 billion during the corresponding period.
In its commentary, the company attributed the reasons for turning into a loss despite the increase in sales revenues to a EGP 1.3 billion increase in activity costs, as a result of raising the minimum price of natural gas from $5.5 to $8.5 per million British Thermal Units (MMBtu), representing a 65% increase.
Reasons for the losses also included the company incurring foreign exchange losses of EGP 467 million, an increase in financing expenses by EGP 296 million, as well as an increase in marketing costs by EGP 135 million.
