MISR NATIONAL STEEL - ATAQA
ATQA
Financial ResultsNeutral News
Surging Sales, Slipping Profits: Ataqa's 2024 Performance Dilemma
Ataqa's 2024 shows soaring sales but Q3 profit decline, reflecting mixed performance trends.
November 17, 2024 at 9:22:00 AMScore: 68
Ataqa (ATQA), a key player in Egypt's steel sector, reported mixed financial results for 2024. While year-to-date (9M-24) net profits climbed 17.2% to EGP 695.87 million, third-quarter (Q3-24) earnings dipped to EGP 160.41 million from EGP 182.82 million in Q3-23. Revenue surged 115% YoY to EGP 3.78 billion for the nine-month period, though Q3 sales growth slowed to 19.4% (EGP 942.89 million). Earnings per share (EPS) rose annually to EGP 0.58 but fell sequentially to EGP 0.13 in Q3-24.
Recommended Actions
- Monitor Q4 results for profit recovery trends
- Compare with industry peers' performance
- Watch for margin pressure indicators
- Consider partial portfolio rebalancing
- Track management's cost-control measures
Positive Aspects
- 115% annual revenue surge
- H1-24 profit jump (30.4%)
- Improved annual EPS
Negative Aspects
- Q3 profit decline
- Sequential EPS drop
- Slowing quarterly revenue growth
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