Arab Finance: Valmore Holding is pursuing expansion in Saudi Arabia and the UK as part of a strategy to generate shareholder value and strengthen its asset portfolio, which exceeds $1.5 billion, CEO Jon Rokk told Al Arabiya Business.
The investment group, formerly known as Egypt Kuwait Holding (EKH), is dual-listed on the Egyptian Exchange (EGX) and Boursa Kuwait. Its new strategy operates across two levels, supported by three business pillars, as the company develops its existing holdings and builds platforms outside its traditional markets.
Rokk identified Saudi Arabia as one of Valmore’s key growth markets, citing the Kingdom’s infrastructure spending, industrial expansion, and private-sector investment opportunities under Saudi Vision 2030.
He also noted that Valmore is assessing opportunities that meet its investment standards and support its approach to long-term value creation, he said. The group is treating Saudi Arabia and the United Kingdom as standalone platforms from which it can pursue broader regional growth.
The group’s investment in Saudi Arabia-based gas distribution company EKACOM marked its entry into the Kingdom. Valmore plans to use the business to establish a long-term presence and expand its Saudi investments through a selective approach centered on opportunities with lasting strategic value.
Construction and capital expenditure for the first phase of EKACOM’s Saudi project progressed as scheduled during the first quarter (Q1) of 2026, with further headway recorded in the following three months. Commissioning remains scheduled for Q4 2026.
Alongside its Saudi expansion, Valmore is developing UK-based chemical recycling platform Endolys from the ground up. Rokk cited the project as an example of the group’s approach to creating new businesses while continuing to evaluate acquisitions that fit its investment strategy.
The international push forms part of a broader plan adopted about a year ago and later reflected in the group’s rebranding from Egypt Kuwait Holding to Valmore Holding. Rokk stressed that the shift went beyond changing the company’s name.
At the portfolio level, the strategy prioritizes developing existing businesses and assets to maturity to generate sustainable stakeholder value. It also allows for selective acquisitions, provided they carry a substantial hard-currency component. Hard-currency income accounted for more than 57% of Valmore’s revenue during H1 2026.
Operationally, the strategy rests on three interconnected pillars: growing existing franchises, improving efficiency across subsidiaries, and recycling capital in a disciplined manner to support sustainable long-term expansion.
Valmore’s fertilizer business also contributed to its first-half performance. Rokk said the global supply of nitrogen fertilizers continued to face challenges, while prices remained cyclical and subject to international supply-and-demand movements.
However, the Mediterranean location of Alexandria Fertilizers Company (AlexFert) gives the business access to export markets and supports its competitiveness over the longer term, he added.
Stable natural gas supplies allowed AlexFert to operate at full capacity during the second quarter of 2026. The company sold approximately 209,000 tons over the period, representing a 28% increase, and was able to capitalize on higher international prices through full production utilization.
It is worth noting that the firm reported that consolidated revenues climbed by 13% to $392 million in the first half (H1) of 2026 from $347.482 million a year earlier.
