Egypt Gas turns into losses in Q1 2020

CAIRO – 15 May 2019: Egypt Gas (EGAS) turned into losses during the first quarter of 2020, at LE 37.76 million, compared to profits of LE 8.92 million during the same quarter of 2019.

EGAS' financial indicators revealed that the company reached revenues of LE 691.32 million by the end of March, compared to LE 718 million during the compared period of the previous year.

In 2019, the company recorded profits of LE 164.96 million, compared to LE 35.16 million in 2018.

Egypt Gas was established in September 1983 and listed on the Egyptian Exchange in April 1992. It operates within the gas utilities sector focusing on utilities.

It has subsidiaries operating across Egypt, Saudi Arabia, Germany and Canada.