Still a poor Q2 ahead, some hopes for H2
By the end of March 2017, sales amounted to EGP2.963bn, slightly up by 1.3% compared to the same period a year ago. By segment, regional sales recorded the most notable performance, up by 87%, followed by the Financing business (+71.6%). On the other hand, the Egypt Passenger Cars revenues posted the worst performance as sales fell by 36.4%, while contributing 29.9% to the firm’s sales (the main contributor).The Gross profit increased by 13% reaching EGP500m 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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