Korra Energi Reported Strong H1 2026 Performance with EGP 5 Billion in New Contract Awards and Improved Profit Margins
• New contract awards surged 4.6 times year-on-year in H1 2026 to EGP 5 billion, up from EGP 1.1 billion in H1 2025.
• Gross profit margin in the energy division expanded by 500 basis points to 22.5%, compared to 17.5%, despite geopolitical headwinds
• Adjusted net profit increased by 12.2% to EGP 146 million in H1 2026.
• Expanded regional footprint with a new branch in the Kingdom of Saudi Arabia.
• Secured approval from the Financial Regulatory Authority (FRA) to increase issued and paid-up capital to EGP 855 million.
Cairo, Egypt – August 19, 2026: Korra Energi today announced its financial results for the first half of 2026, reporting robust growth driven by a sharp rise in new contract awards, improved profitability, and continued execution of its regional expansion strategy. The company also strengthened its financial position following the approval of a capital increase by Egypt’s Financial Regulatory Authority.
The company recorded revenues of EGP 3.2 billion, with gross profit reaching EGP 665 million, a growth of 8.5% increase compared to H1 2025. Gross profit margin improved to 20.5%, compared to 17.2% during the same period last year.
Korra Energi secured EGP 5 billion in new contracts awards during H1 2026, a significant leap from EGP 1.1 billion during the same period in 2025, representing a year-on-year increase of more than 4.6 times. This strong performance contributed to increasing the company’s backlog to approximately EGP 15.7 billion, underscoring sustained demand for the company’s solutions and its ability to secure strategic projects requiring advanced technical and technological expertise.
The company’s energy division delivered a gross profit margin of 22.5% in H1 2026, compared to 17.5% in the prior year period – a 500 bps improvement – despite challenges arising from higher fuel and energy prices, exchange-rate fluctuations and geopolitical tensions. The division’s gross profit increased 9.8% to reach EGP 601 million, compared to EGP 547 million in H1 2025.
Korra reported normalized net income of EGP 146 million for H1 2026, after excluding fx gains and losses, representing a 12.2% increase compared to the same period in 2025. This growth reflects the company’s operational resilience and its ability to maintain strong profitability levels despite challenging geopolitical challenges.
Eng. Ayman Korra, President & CEO of Korra, said: “Our H1 2026 demonstrate the strength of Korra’s business model and our capacity to sustain growth while delivering tangible progress across in both contract wins and profitability, despite ongoing regional challenges. Securing EGP 5 billion in new strategic projects is a clear testament to our clients’ trust in our technical and execution capabilities. The notable margin improvement also highlights our operational efficiency and our ability to drive value across our portfolio.”
He added: “We continue to advance our regional expansion strategy, strengthening our presence in key markets through a new branch in the Kingdom of Saudi Arabia, our second international expansion following our Iraqi branch, aligns with the company’s strategy to build a stronger regional footprint and capture opportunities across international markets.
The approval to increase our issued and paid-up capital to EGP 855 million, alongside raising our authorized capital from EGP 2.25 billion to EGP 4.25 billion, is a pivotal step in strengthening our financial capacity to support larger projects and accelerate our growth trajectory. This reinforces Korra’s position as one of the leading providers of integrated energy solutions and engineering projects in Egypt and the broader region.”
On the business front, Korra continued to strengthen its portfolio of strategic projects. the company established a new branch in the Kingdom of Saudi Arabia, marking its second geographic expansion outside the Egyptian market following its presence in Iraq. This move reflects Korra’s strategy to build a stronger regional footprint and capitalize on opportunities across international markets.
On the projects front, Korra continued to expand its portfolio with several notable wins, including a contract to connect the wind power generation plants in the Gulf of Suez to the national electricity grid, marking the company’s first contract in the Transmission & Distribution (T&D) sector and opening new avenues for growth across the infrastructure and energy sectors.
Additionally, the company secured a contract to execute the Yazaki Egypt factory project in Fayoum Governorate, which specializes in the production of automotive electrical systems and wiring harnesses, as well as the Gennvax pharmaceutical and vaccine manufacturing facility in the Suez Canal Economic Zone. These projects highlight the confidence of industrial developers in Korra’s technical and execution capabilities.
Korra also continued to achieve growth in its agricultural exports business, with exports increasing by 33.6%, driven by the growth of its frozen strawberry operations, which further supported revenues and foreign currency inflows.
Korra continues to closely monitor economic and geopolitical developments focusing on risk management and enhancing the resilience of its business model. Looking ahead, the company’s strategy is anchored in a robust contract pipeline, diversified business segments, and deep technical and execution expertise, – positioning the company to capitalize on market opportunities, deliver sustainable growth, and create sustainable long-term shareholder value.
