TAQA Arabia’s consolidated profits jump 26% YoY in 2024
Updated 3/4/2025 12:01:00 PM
Arab Finance: TAQA Arabia recorded consolidated net profits after tax valued at EGP 702.033 million in 2024, an annual rise of 26% from EGP 557.208 million, as per the financial indicators.
Revenues hiked by 40% year-on-year (YoY) to EGP 18.904 billion at the end of December 2024 from EGP 13.463 billion, while the basic earnings per share (EPS) jumped by 26% YoY to EGP 0.519 from EGP 0.412.
As for the standalone business, the net profits after tax hiked by 210% to EGP 578 million last year from EGP 186.751 million in 2023.
Non-consolidated sales increased by 90% to EGP 716.679 million in 2024 from EGP 376.934 million a year earlier, while the basic EPS climbed to EGP 0.427 from EGP 0.138.
TAQA Arabia witnessed exceptional growth in 2024, nearly doubling its revenue over the past two years.
The petroleum division led TAQA Arabia's robust performance in 2024, registering a 33.6% increase in revenue to EGP 10.5 billion compared to EGP 7.4 billion in the previous year.
Meanwhile, the power division achieved remarkable growth, with revenue surging by 47.7% to EGP 3.531 billion.
Finally, the gas division’s revenues soared by 30.7% YoY to EGP 4.854 billion.
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