National Printing reports 15.6% profit drop in H1 2025 amid IPO preparations

EGYPT – National Printing Company has posted a 15.6% year-on-year decline in consolidated net profits for the first half of 2025, as the Egyptian packaging and printing giant prepares for a public listing on the Egyptian Exchange.

The company’s consolidated net profits after tax attributable to owners fell to EGP 200.05 million (US$4.12m) in H1 2025, compared with EGP 242.83 million (US$5m) in the same period last year. Earnings per share also slipped to EGP 0.94 from EGP 1.15 a year earlier.

Despite weaker profits, revenues rose 14% to EGP 3.55 billion (US$73.17m), up from EGP 3.10 billion (US$63.89m) in H1 2024, reflecting stronger demand across some of its packaging and paperboard operations.

However, standalone performance took a sharp hit, with pre-tax profits plunging to EGP 37.91 million (US$0.78m) from EGP 237.41 million (US$4.89m).

Non-consolidated earnings per share dropped to EGP 0.18 from EGP 1.12, while operating revenues slid to EGP 48 million (US$0.99m) from EGP 294.45 million (US$6.07m).

The mixed results come as National Printing pushes ahead with plans to go public, seeking to tap into renewed investor appetite in Egypt’s stock market.

The offering is part of a wider wave of initial public offerings (IPOs) across the Middle East and North Africa, fueled by regulatory reforms and government initiatives to attract private investment.

Backed by Qalaa Holdings, one of Cairo’s leading investment firms, National Printing is working with EFG Hermes as global coordinator and Zulficar & Partners as local counsel.

The company is in the process of securing approval from Egypt’s Financial Regulatory Authority (FRA), including a public subscription notice.

“National Printing is ideally positioned to capture new opportunities across local and export markets,” the company said in a statement.

“We look forward to entering this next chapter as a public company, where we can continue to invest in our capabilities and expand our reach.”

Industry analysts note that the IPO could provide the company with the capital needed to modernize operations and expand capacity at a time when Egypt’s packaging sector is benefiting from both domestic consumption and export demand.

The industry is seen as a key driver of growth, with rising demand from food, beverage, and pharmaceutical companies.

Founded by the El Moallem family, National Printing operates through four subsidiaries: Shorouk, Uniboard, El Baddar for Packaging, and Windsor.

Together, they form one of Egypt’s largest integrated printing and packaging groups, serving both local clients and regional markets.

Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE