Arab Finance: Qalaa Holdings' extraordinary general meeting (EGM) approved the company's continuation despite registered losses, according to a bourse filing.
The incurred losses exceeded half of shareholders' equity, as per the 2025 financial statement results.
In 2025, Qalaa Holdings suffered a consolidated net loss after minority interests of EGP 1.2 billion.
Qalaa Holdings has faced a prolonged period of financial losses between 2019 and 2022 amid challenges at its Egyptian Refining Company (ERC), COVID-19 disruptions, foreign-exchange losses, and high financing costs.
The group revealed last June that ERC, in which it owns a 13% stake, had fully repaid its main debt and was in the process of paying $229.7 million of its subordinated debt.
It is worth noting that Qalaa Holdings is an Egypt-based company engaged in private equity investment activities, managing an investment portfolio that spans various industrial sectors, including energy, cement manufacturing, mining, and metallurgy.
