Report
Mohammad Kamal
EUR 29.66 For Business Accounts Only

Egypt- Building Materials: Assessing the impact of further energy price hikes


From float to price hikes- Egypt targets another round of fuel subsidy restructuring, in an effort to reduce fiscal expenditures

We run sensitivity tests to assess the impact of further fuel price hikes (35-40%) on our industrials coverage space

Cement producers are most vulnerable to increases in fuel prices as c.9% of COGS are impacted, while the earnings of industrials (ElSewedy Electric and Ezz Steel) remain shielded, thanks to cost-reflective pricing


Provider
Arqaam Capital
Arqaam Capital

Established in 2007, Arqaam Capital is a specialist emerging markets investment bank, bringing regional and international product offerings to the emerging markets. Arqaam Capital combines international best practice with expertise in the markets in which we operate. Our primary role is to provide financial intermediation and create investment opportunities for frontier and emerging markets investors looking to invest in their own markets and abroad, as well as international investors seeking opportunities in target frontier and emerging markets. Arqaam Capital is headquartered in the Dubai International Financial Centre (DIFC), with additional offices in Libya, Lebanon, Egypt, and South Africa. 

Arqaam Capital's research platform provides the largest coverage footprint of MENA equities and one of the largest on the African continent with a total of 300 stocks under coverage. Arqaam Capital is ranked as one of the leading research providers in the region - a reflection of its broad coverage universe, its in-depth and high quality research, as well the compelling investment ideas that the team generates. The analysts closely analyze their sectors and issue in-depth company and sector research while the strategy team connects the micro with the macro, focusing on index analysis, macroeconomics and strategy research. 

Analysts
Mohammad Kamal

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