EGYPT’S TOP 50 LISTED COMPANIES
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EGYPT’S TOP 50 LISTED COMPANIES 2023
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vents last year, including Russia’s invasion of Ukraine and the rising rate of inflation, put Egypt’s economy in severe trouble, leading to a foreign currency dry-up. The Egyptian pound has lost around 50% of its value against the dollar over the last 15 months. These economic challenges have also left their mark on our annual list of Egypt’s Top 50 Listed Companies, with the value of aggregate sales for the 50 companies (in USD) falling by 16.3% to $32.7 billion. Profits also saw an 8.9% decrease to $4.9 billion, while the value of their total assets tumbled from $142 billion in 2021 to $109.2 billion in 2022, a 23.3% drop. Meanwhile, the combined market cap of the top 50 increased by 6.7% to $30.4 billion, with the main index (EGX30) jumping by 20% during the first five months of 2023. Banking and financial services continue to dominate the list with 16 entries, followed by real estate and construction with eight and industrials with seven. Egypt’s largest listed bank, CIB, retains the top spot with a market value of $5.2 billion and total assets of $20.6 billion, followed by QNB ALAHLI and Telecom Egypt. Ranked 10th, Orascom Construction tops in terms of sales after generating $4.2 billion, followed by Elsewedy Electric (#4) with $3 billion in sales in 2022.
Methodology
We collected data from the Egyptian Exchange and ranked companies based on their reported sales, assets, and profits for 2022 and market value as of April 30, 2023. Each metric was given equal weight, and companies with the same final scores were given the same rank. We excluded companies that hadn’t disclosed their 2022 full-year audited financial statements as of April 25, 2023. Currency exchange rates were taken as of April 30, 2023.
Year
Total market value
Total sales
Total profits
Total assets
2023
$30.4 billion
$32.7 billion
$4.9 billion
$109.2 billion
2022
$28.5 billion
$39.1 billion
$5.4 billion
$142.2 billion
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F O R B E S M I D D L E E A S T.C O M
JUNE 2023
