Total assets also decreased by 18.1% to $89.4 billion in 2023, down from $109.2 billion in 2022. The total market cap of the 50 companies reached $29.4 billion as of April 26, 2024, a 3.3% decrease compared to a year earlier. However, excluding the foreign exchange effect, all financial metrics grew in local currency. Their aggregate market cap, sales, profits, and assets increased in EGP by 49.8%, 25%, 41%, and 27%, respectively.
The Commercial International Bank tops the list with a market cap of $4.7 billion and $17.4 billion in assets, followed by QNB ALAHLI and Elsewedy Electric. Real estate moguls Orascom Construction and Talaat Moustafa Group Holding are among the top 10, ranking fifth and sixth, respectively.
Banking and financial services dominate with 16 entries, having generated $8.4 billion in sales and $58.5 billion in total assets. Real estate and construction and industrials follow with nine and seven entries, respectively.
Methodology
We collected data from the Egyptian Exchange and ranked companies based on their reported sales, assets, and profits for the financial year of 2023 and market value as of April 26, 2024. 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 2023 full-year audited financial statements as of April 26, 2024. Currency exchange rates were taken as of April 26, 2024.
EGYPT'S TOP 50 LISTED COMPANIES 2024
1 Commercial International Bank (CIB)
CEO and Managing Director: Hussein Abaza
Sector: Banking and financial services
Market value: $4.7 billion
Sales: $2.5 billion Profits: $619 million
Assets: $17.4 billion
This story is from the June 2024 edition of Forbes Middle East - English.
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This story is from the June 2024 edition of Forbes Middle East - English.
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