A disastrous Q4 takes the sheen off the full year
Q4 2016: Uncomfortable end to 2016:Revenues amounted to EGP4.111bn, up by 52.9% compared to the same period a year ago. By segment, the Egypt passenger cars revenues recorded the most notable performance, up by 79.9%, followed by both Financing business (+77.1%) and Egypt after sales revenues (+77.2%). Concerning the overseas activities, sales increased by 26.8% to reach EGP350.8m vs. EGP276.6m, a year earlier. The only segment that recorded a decline is the Egypt Motorcycles & Three-Wheelers as sales decreased by 25.4% to EGP338.7m.
The Gross profit reached EGP647.4m vs.
GB Auto is a player in the MENA region's automotive industry. Co. operates at all levels of the value chain, including assembling, distributing and selling passenger cars and commercial vehicles, manufacturing semi-trailers and superstructures for trucks and buses, selling automotive components, motorcycles and three-wheelers, tires, and construction equipment, as well as providing after-sales service through an aftersales service network and consumer finance and microfinancing. Co. also provides private freight transport services in governorates throughout Egypt. Co.'s operations can be divided into two segments: Passenger Cars, and Commercial Vehicles and Construction Equipment.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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