Telecom Egypt’s Market Capitalization Nears EGP 100 Billion for the First Time in Its History
Telecom Egypt (WE) surged sharply on the Egyptian Exchange on Thursday after the company reported more than a threefold increase in its third-quarter net profit compared to the same period last year, pushing its market capitalization toward the EGP 100 billion mark for the first time.
The stock jumped 8.3 percent at the start of the session, reaching an all-time high, before paring some gains to close up 6.4 percent at EGP 56. Meanwhile, the benchmark EGX30 index posted a slight decline.
According to the company’s disclosed financials, Telecom Egypt’s market capitalization climbed to EGP 95.5 billion. The company’s paid-in capital stands at EGP 17.07 billion, distributed across 1.7 billion shares with a par value of EGP 10 each.
Data published by the Egyptian Exchange showed that the company’s net profit surged 203 percent year-on-year to EGP 6.47 billion during the three months ending September, supported by higher investment returns and stable financing costs.
Operating revenue also recorded strong growth, rising 35.4 percent to EGP 27.6 billion. This increase was driven by higher revenues from data services, incoming international calls, and expanding infrastructure services provided to local operators.
The company added that its investment income from Vodafone Egypt — in which Telecom Egypt holds a 45 percent stake — reached EGP 10.8 billion during the first nine months of 2025, compared with EGP 5.3 billion in the same period last year. This was supported by service price adjustments implemented in 2024 and improved operational efficiency at Vodafone Egypt.
The strong results come shortly after Telecom Egypt’s board of directors appointed Tamer El-Mahdy as Managing Director and CEO in September, succeeding Mohamed Nasr El-Din.