MISR NATIONAL STEEL - ATAQA
ATQA
Financial ResultsNegative News
Ataqa's Q1-24 Profits Drop Amid Revenue Surge: A Closer Look
Ataqa's Q1-24 profits fell 52.7% YoY despite a 153% revenue jump, with mixed signals in EPS and asset growth.
May 30, 2024 at 1:19:00 PMScore: 85
Ataqa (ATQA) reported a significant decline in net profits after tax, falling to EGP 60.91 million in Q1-24 from EGP 128.81 million in Q1-23. Despite this, revenues surged to EGP 1.01 billion, a notable increase from EGP 399.50 million year-on-year. Basic earnings per share (EPS) halved to EGP 0.05, down from EGP 0.10 in the same period. Total assets grew to EGP 3.55 billion as of March 31, 2024, compared to EGP 2.46 billion at the end of 2023. In 2023, the company's annual net profits rose sharply to EGP 734.86 million from EGP 234.72 million in 2022.
Recommended Actions
- Monitor cash flow trends before considering new investments
- Compare margin trends with industry peers
- Watch technical support levels for potential entry points
- Review 2023 performance context for volatility patterns
- Assess management commentary on cost structures
Positive Aspects
- 153% revenue growth YoY
- Assets increased by 44.3% in Q1-24
- Strong 2023 annual profit growth
Negative Aspects
- 52.7% YoY profit drop
- EPS halved to EGP 0.05
- Potential margin compression
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