- TAQA Arabia's revenue grew 34 YoY to EGP13.12 billion 266 million in the first nine months of 2024, reflecting robust market performance.
- The companys net profit after tax rose by 16 YoY to 8.61 million, highlighting its financial resilience amid market challenges.
- TAQA Arabia launched a 3.4 billion green ammonia project in partnership with Voltalia, positioning itself as a leader in Egypt's renewable energy sector.
Cairo-based energy distribution giant TAQA Arabia, led by Egyptian executive Pakinam Kafafi, reported robust financial results for the first nine months of its 2024 fiscal year, with both revenue and profits climbing by double-digit percentages, demonstrating resilience.
According to recently published figures, TAQA Arabia's revenue surged to EGP13.12 billion 266 million in the nine months of 2024, up from EGP9.78 billion 198.3 million during the same period in 2023. This increase underscores the companys ability to capitalize on opportunities despite rising operational costs and market volatility.
In terms of profitability, TAQA Arabia posted a 16 percent year-on-year increase in net profit after tax, reaching EGP424.87 million 8.61 million for the first nine months of 2024. This compares favorably to the net profit of EGP364.98 million 7.4 million reported in 2023, further affirming the companys financial resilience.
TAQA Arabias expanding energy leadershipTAQA Arabia, which serves over 1.7 million individuals and businesses across Egypt, has solidified its position as a leading energy and utility provider. The company is renowned for its expertise in the construction, operation, and maintenance of energy infrastructure nationwide. In addition to its core operations in energy distribution, TAQA Arabia also provides essential water treatment and desalination services to a wide range of industries.
Under the leadership of Pakinam Kafafi, TAQA Arabia has pursued an aggressive growth strategy, expanding its market presence through strategic acquisitions. The company has integrated several major gas distribution firms, including BG, ENI, Edison, and AMEC, significantly strengthening its competitive position in the Egyptian energy market.
