Ataqa reports 30pct profit increase in H1 2024 YoY

Misr National Steel (Ataqa) reported net profits of EGP 535.45 mln (USD 10.9 mln) for the first half of 2024, up from EGP 410.74 mln in H1 2023. Net sales reached EGP 2.77 bln (USD 56.6 mln) as of June 30, 2024, compared to EGP 922.67 mln in the same period last year.

In Q2 2024, Ataqa's net profits rose to EGP 474.54 mln (USD 9.69 mln) from EGP 281.93 mln in Q2 2023.

Operating under the El Garhy Group, Ataqa has an annual rebar production capacity of 780,000 tons. 1 USD / 48.9 EGP