2018 Consolidated Financials...

4Q18EARNINGS RELEASE 1

4Q18EARNINGS RELEASE

0

50

100

150

200

250

300

350

400

20182017

2779

3523

Revenues in EGP millions

EBITDA

0

20

40

60

80

100

120

20182017

492

1133

in EGP millions

Key Highlights consolidated 2018 Revenues decreased by 211 Y-o-Y to EGP 2779 million Costs were reduced by 459 to EGP 1925 million SGampA increased by 49 to EGP 362 million EBITDA declined 565 to 492 EGP million Investment Income turned positive to reach EGP 2 million Net Interest Income surged a 128 to reach EGP 55 million Taxes shrank by 644 to reach EGP 110 million Net Profits declined 459 to to reach EGP 42 million

Net Profits after Taxes

0

10

20

30

40

50

60

70

80

20182017

418

773

in EGP millionsCosts

0

50

100

150

200

250

20182017

19252046

in EGP millions

Egytransrsquo [ETRSCA ETRS EY Equity] diversification strategy proves successful driving record growth of 34 Y-o-Y in regular business revenues to reach EGP 128 million partially offsetting impact of cyclical projects business which recorded 21 Y-o-Y decline in revenues reaching EGP 278 million Positive performance in SGampA and Costs reflecting continued focus on cost and cash discipline and decline in Taxes by 64 Y-o-Y and net profit by 459 Y-o-Y to EGP 418 million



2018 Consolidated Financials Review 2018 represents a record year for Egytransrsquo regular business

showing growth rates above market with an aggregate of 34 increase Y-o-Y to reach EGP 128 million driven by our strategy of improving performance in key business sectors and thereby partially offsetting the expected decrease in revenues from cyclical projects Total revenues reached EGP 2779 million representing a decrease of 211 Y-o-Y The absence of high-margin mega projects business resulted in an increase in CostRevenues ratio by 11203 bps to record 693 in 2018 vis-agrave-vis 581 in 2017 This accordingly led to a decrease of 14434 bps in EBITDA margin to 177 vs 322 for both years respectively

NetProfitsafterTaxesfortheyeardeclinedby459reaching EGP 418 million down from EGP 773 million registeringaNetProfitMarginof150vis-a-visamarginof219in2017ThisdeclineinNetProfitswasmitigatedbyasignificantincreaseinrevenuesfromEgytransrsquoregular

business a decrease in SGampA due to our continued emphasis on cost and cash discipline positive Investment Income a considerable increase in Net Interest Income to EGP 55 millionlowerTaxProvisionsforEgytransampETALandfinallyathree-fold decrease in annual taxes

On the Balance Sheet front Accounts Receivable Days Sales Outstanding (DSO) has increased to 100 days in 2018 compared to 79 days in 2017 due to lower Revenues

In the meantime Cash balance decreased by 272 to register EGP 1059 million by end of 2018 from EGP 1455 million by end of 2017 due to the payment of dividends as well as purchase of new company headquarters tax payments and buy back of treasury shares amounting to 2215 million shares in 4Q18

Meanwhilefinancialleveragerecorded36in2018versusnil a year ago due to leasing 5 new trucks for the land transport pilot project as well as a loan for EGP 125 million to purchase the new HQ for Egytrans in the 5th Settlement (with DE ratio of 50-50)

15

20

25

30

35

20182017

322

177

EBITDA Margin

15

20

25

20182017

219

150

Net Profit Margin



2018 Operational Review On a macroeconomic level we have witnessed a more

stable operating market throughout 2018 as a result of thegovernmentrsquosfiscalandmonetarypolicyvisibleindecreasedinflationandavailabilityofforeigncurrenciesespeciallyUSDinthebanksdespitesomefluctuationinFXrates

In 3Q18 Egytrans signed a new contract for West Cairo and Assiut-Walidiya power stations with estimated total revenues of EGP 40 million The project commenced work in 3Q18 and will extend for 6 months during which all transport logistics and installation services will be performed by Egytrans

The successful completion of the majority of mega project works resulted in an expected slowdown in our operations 2018 Revenues from ETAL whose core business is projects and therefore cyclical declined as a result by 557 thereby negatively impacting the overall performance of Egytrans

MeanwhileEgytransrsquoregularbusinesscontinuestothriveduetodiversificationstrategyandstrongsalesefforts

thereby ameliorating negative impact of cyclical nature of projects on the bottom line Our continued focus on performanceandportfoliodiversificationhasreapedresultsas Egytransrsquo regular business lines exhibited exceptional growthduringtheyearwithStorageSeaFreightFreeZoneandAirFreightrevenuesincreasingby922424and13 respectively in 2018 compared to 2017

During 2018 Egytrans launched a new land transport project Early results in this area are encouraging and indicate potential opportunity for growth Going into 2019 Egytrans will continue to support this new business line withplanstodoubleitsfleetfrom5trucksto10truckswithanestimatedinvestmentcostofLE8MillionOverthemedium term we will continue to build upon data received from this pilot project as part of our strategy to diversify and strengthen our services as this will ultimately drive sustainable long-term growth for the company

EDS signaled a Y-o-Y growth of 34 in its performance during 2018 The company continues on track holding 70 of the market share in ISO tank storage and cleaning solutions



Consolidated Financial StatementsSelectedBSFiguresinEGPItem 2017 2018 GrowthNetFixedAssets 75541246 108127232 431Accounts Receivable 70664283 81358207 151Other Debtors 96327318 56455513 -414Projects Under Construction 28126362 18327935 -348Cash 145483635 105857526 -272Total Assets 434296809 407973706 -61Accounts Payable 14814002 21727155 467Other Creditors 33097862 53038112 602CPLTD 0 2500000 nmLTD 0 7708334 nmTotal Liabilities 110871495 122947664 109Total Shareholders Equity 307224497 285026042 -72DSO 79 100 265

DPO 35 35 -16

RoE 251 147Financial Leverage 00 36

ISFiguresInEGP

Item 4Q17 4Q18 Change YoY

Revenues 60662640 90381304 490Costs (41281634) (75803200) 836Gross Profit 19381006 14578104 -248SGampA (11582238) (9556336) -175EBITDA 7798768 5021768 -356Depreciation (1566028) (1467765) -63EBIT (Net Operating Profit) 6232740 3554003 -430Investment GainLoss (1246427) 3871039 naNet Interest Income 1373116 1484864 81Social Insurance Expense 0 (421826) nmProvisions (9921286) 1684322 naFXGainLoss 3758095 (377954) naOthers 574955 395982 -311

Net Profit Before Taxes 771193 10190430 12214

Taxes (5184303) (3767482) -273Net Profit After Taxes (4413110) 6422948 naMinority Interest 236 (63) naNet Profit After Taxes amp Minority Interest (4412874) 6422885 na

ISFiguresInEGP

Item 2017 2018 Change YoY

Revenues 352296220 277859552 -211Costs (204553660) (192461154) -59Gross Profit 147742560 85398398 -422SGampA (34470332) (36165454) 49EBITDA 113272228 49232944 -565Depreciation (7010402) (6117718) -127EBIT (Net Operating Profit) 106261826 43115226 -594Investment GainLoss (1246427) 4381516 naNet Interest Income 2404319 5481981 1280Social Insurance Expense 0 (421826) nmProvisions (18921286) (1015678) -946FXGainLoss 17272787 (35583) naOthers 2353855 1271070 -460

Net Profit Before Taxes 108125074 52776706 -512

Taxes (30866486) (10978415) -644Net Profit After Taxes 77258588 41798291 -459Minority Interest (647) (321) -504Net Profit After Taxes amp Minority Interest 77257941 41797970 -459

EPS 198 107 -459

Consolidated revenues by subsidiary

ETAL63

EDS64

Egytrans873



Egytrans Separate Egytransrsquo separate revenues reached EGP 2426 million showing a 179 decline Y-o-Y In the meantime costs improved by 38 to EGP 1873 million and SGampA added 61 to EGP 288 million As a result EBITDA margin retreated 641 to EGP 265 million in 2018 from EGP 737 million in 2017NetProfitsafterTaxes decreased to EGP 355 million in 2018 vis-agrave-vis EGP 726 million a year agorepresentingNetProfitMarginsof146and246for both respective years Earnings per Share (EPS) reached EGP 091 for 2018 compared to 186 in 2017

SelectedBSFiguresinEGPItem 2017 2018 GrowthNetFixedAssets 9238321 24155272 1615Accounts Receivable 51756007 76914190 486Other Debtors 83310922 55311484 -336Projects Under Construction 128282554 80228355 -375Cash 361825660 351944004 -27Total Assets 14120299 21489365 522Accounts Payable 46203787 67754067 466Other Creditors 0 (15930000) nmCPLTD 0 2500000 nmLTD 0 7708334 nmTotal Liabilities 102907151 120345948 169Total Shareholders Equity 258918509 231598056 -106DSO 80 97 209

DPO 36 35 -30


ISFiguresInEGP


Revenues 55294593 80937584 464Costs (41210184) (73788618) 791Gross Profit 14084409 7148966 -492SGampA (8700225) (7748009) -109EBITDA 5384184 (599043) naDepreciation amp Amortization (391497) (448067) 144EBIT (Net Operating Profit) 4992687 (1047110) naInvestment Income 0 285000 nmNet Interest Income 1024735 1271312 241Social Insurance Expense 0 (403191) nmProvisions (5000000) 1684322 naFXGainLoss 3744103 (380635) naOther Income 1997859 829383 -585


Taxes (4881674) (2636057) -460Net Profit After Taxes 1877710 (396976) na

ISFiguresInEGP


Revenues 295633544 242647541 -179Costs (194750881) (187340190) -38Gross Profit 100882663 55307351 -452SGampA (27135730) (28799218) 61EBITDA 73746933 26508133 -641Depreciation amp Amortization (1589185) (1760430) 108EBIT (Net Operating Profit) 72157748 24747703 -657Investment Income 14558607 11082194 -239Net Interest Income 1315003 4330658 2293Social Insurance Expense 0 (403191) nmProvisions (14000000) (1015678) -927FXGainLoss 17002700 (62801) naOther Income 4885893 3812884 -220


Taxes (23272608) (6967736) -701Net Profit After Taxes 72647343 35524033 -511EPS 186 091 -511



IS ComparisonItem (In EGP) 4Q17 3Q18 4Q18 QoQ YoY 2017 2018 YoYRevenues 55294593 56146840 80937584 442 464 295633544 242647541 -179Costs (41210184) (43794250) (73788618) 685 791 (194750881) (187340190) -38Gross Profit 14084409 12352590 7148966 -421 -492 100882663 55307351 -452SGampA (8700225) (6559002) (7748009) 181 -109 (27135730) (28799218) 61EBITDA 5384184 5793588 (599043) -1103 -1111 73746933 26508133 -641Depreciation (391497) (467419) (448067) -41 144 (1589185) (1760430) 108EBIT 4992687 5326169 (1047110) -1197 -1210 72157748 24747703 -657Investment Income 0 0 285000 00 00 14558607 11082194 -239Net Interest Income 1024735 471888 1271312 1694 241 1315003 4330658 2293Social Insurance Expense 0 0 (403191) nm nm 0 (403191) nmProvisions (5000000) 0 1684322 nm na (14000000) (1015678) -927FXGainLoss 3744103 14234 (380635) na na 17002700 (62801) naOthers 1997859 895784 829383 -74 -585 4885893 3812884 -220

Net Profit Before Taxes 6759384 6708075 2239081 -666 -669 95919951 42491769 -557

Taxes (4881674) 62092 (2636057) na -460 (23272608) (6967736) -701Net Profit After Taxes 1877710 6770167 (396976) na na 72647343 35524033 -511

Egytrans Separate



286

211135

91

67

65

53

4132 11 09

Land Transport

Storage (Free Zone)

Unloading

Storage (Others)

Sea Freight

Extra Services

Storage (Adabeya)

Customs Clearance

Air Freight

Other Revenues

Transit

Revenues by line of business 2018


478

149

140

47

44

42

3523 19 12 09

Land Transport

Unloading

Storage (Free Zone)

Extra Services

Sea Freight

Storage (Adabeya)

Customs Clearance

Air Freight

Storage (Others)

Transit

Other Revenues

Revenues contribution amp growth by line of business

Revenues contribution amp growth by branch

Sea Fr

eight

Air Frei

ght

Custo

ms Clea

rance

Unload

ing

Extra S

ervice

s

Land

Tran

sport

Storag

e (Adab

eya)

Storag

e (Fre

e Zon

e)

Storag

e (Oth

er)

Transit

Others

-100

0

100

200

300

0

20000000

40000000

60000000

80000000

100000000

120000000

140000000

160000000

2017 2018 Change

-100

-80

-60

-40

-20

0

20

40

60

80

100

0

10000000

20000000

30000000

40000000

50000000

60000000

70000000

80000000

90000000

100000000

110000000

2017 2018 Change



ETAL Egyptian Transport amp Logistics (ETAL) a fully owned subsidiary of Egytrans executes specialized transport and installation of cargos with exceptional weight and dimensions for large projects in addition to other operations The company recorded 557 Y-o-Y lower Revenues of EGP175millionMeanwhileNetProfitsafterTaxesrecorded a 575 drop Y-o-Y to EGP 57 million in 2018 following a 59 reduction in Taxes to EGP 17 million compared to EGP 18 million a year ago

SelectedBSFiguresinEGP


NetFixedAssets 44781640 64840740 448Accounts Receivable 638394 292560 -542Other Debtors 9487710 1037089 -891Cash 3989507 6008010 506Total Assets 93950727 89733733 -45Accounts Payable 578477 154656 -733Other Creditors 99513 198119 991Total Liabilities 17931142 14619557 -185Total Shareholders Equity 76019585 75114176 -12AR DSO 4 10 1756

ISFiguresInEGP


Revenues 1226455 4600150 2751Costs (911413) (2060143) 1260Gross Profit 315042 2540007 7062SGampA (1654794) (984777) -405EBITDA (1339752) 1555230 naDepreciation (294228) (498742) 695EBIT (Net Operating Profit) (1633980) 1056488 naNet Interest Income 307980 134651 -563FXGainLoss 6812 (3105) naSocial Insurance Expense 0 (18635) nmProvisions amp Others (4921286) 49080 naNet Profit Before Taxes (6240474) 1218479 naTaxes 128033 (388372) na

Net Profit After Taxes (6112441) 830107 na

ISFiguresInEGP


Revenues 39436558 17488189 -557Costs (10226926) (5725651) -440Gross Profit 29209632 11762538 -597SGampA (4001979) (4080385) 20EBITDA 25207653 7682153 -695Depreciation (1928826) (1227862) -363EBIT (Net Operating Profit) 23278827 6454291 -723Net Interest Income 1012959 958788 -53FXGainLoss 88328 (2617) naSocial Insurance Expense 0 (18635) nmProvisions amp Others (4917286) 72630 naNetProfitBeforeTaxes 19462828 7464457 -616Taxes (5617521) (1793346) -681

Net Profit After Taxes 13845307 5671111 -590

EPS 0191 0081 -575



IS ComparisonItem (In EGP) 4Q17 3Q18 4Q18 QoQ YoY 2017 2018 YoYRevenues 1226455 2515000 4600150 829 2751 39436558 17488189 -557Costs (911413) (1148794) (2060143) 793 1260 (10226926) (5725651) -440Gross Profit 315042 1366206 2540007 859 7062 29209632 11762538 -597SGampA (1654794) (857354) (984777) 149 -405 (4001979) (4080385) 20EBITDA (1339752) 508852 1555230 na na 25207653 7682153 -695Depreciation (294228) (479869) (498742) 39 695 (1928826) (1227862) -363EBIT (1633980) 28983 1056488 na na 23278827 6454291 -723Net Interest Income 307980 155044 134651 -132 -563 1012959 958788 -53FXGainLoss 6812 2010 (3105) na na 88328 (2617) naSocial Insurance Expense 0 0 (18635) nm nm 0 (18635) nmOthers (4921286) 0 49080 nm na (4917286) 72630 naNet Profit Before Taxes (6240474) 186037 1218479 5550 na 19462828 7464457 -616Taxes 128033 1323947 (388372) na na (5617521) (1793346) -681

Net Profit After Taxes (6112441) 1509984 830107 -450 na 13845307 5671111 -590

ETAL



EDS Egytrans Depot Solutions (EDS) a fully owned subsidiary of Egytrans specializing in storing cleaning and repairing liquid bulk cargo containers (ISO Tanks) recorded a 138 increase in its 2018 Net ProfitsafterTaxestoUSD0432 million vis-a-vis USD 0379 million in 2017 On another note Revenues recorded an increase of 34 to USD 0998 million as opposed to USD 0965 million in 2017

SelectedBSFiguresinUSD


NetFixedAssets 1217956 1072378 -120Accounts Receivable 200500 239352 194Cash 747683 1099840 471Total Assets 2606610 2844885 91Other Creditors 55958 65152 164Leasing CPLTD 26433 0 -1000Leasing LTD 0 0 00Total Liabilities 210555 197219 -63Total Shareholders Equity 2396055 2647666 105AR DSO 79 80 23

ISFiguresinUSD


Revenues 230646 272596 182Costs (23068) (24588) 66Gross Profit 207578 248008 195SGampA (62291) (45058) -277EBITDA 145287 202950 397Depreciation (49043) (29300) -403EBIT (Net Operating Profit) 96244 173650 804Net Interest Income 2077 4310 1075Others 0 0 00Net Profit Before Taxes 98321 177960 810Taxes (28820) (41827) 451Net Profit After Taxes 69501 136133 959

ISFiguresinUSD


Revenues 965319 998244 34Costs (108916) (96420) -115Gross Profit 856403 901824 53SGampA (176427) (180151) 21EBITDA 679976 721673 61Depreciation (195707) (176256) -99EBIT (Net Operating Profit) 484269 545417 126Net Interest Income 10812 11329 48Others 0 0 00Net Profit Before Taxes 495081 556746 125Taxes (115608) (124885) 80Net Profit After Taxes 379473 431861 138EPS 190 216 138



IS Comparison in USDItem 4Q17 3Q18 4Q18 QoQ YoY 2017 2018 YoYRevenues 230646 264170 272596 32 182 965319 998244 34Costs (23068) (26665) (24588) -78 66 (108916) (96420) -115Gross Profit 207578 237505 248008 44 195 856403 901824 53SGampA (62291) (35699) (45058) 262 -277 (176427) (180151) 21EBITDA 145287 201806 202950 06 397 679976 721673 61Depreciation (49043) (48844) (29300) -400 -403 (195707) (176256) -99EBIT 96244 152962 173650 135 804 484269 545417 126Net Interest Income 2077 2027 4310 1126 1075 10812 11329 48Others 0 0 0 00 00 0 0 00Net Profit Before Taxes 98321 154989 177960 148 810 495081 556746 125Taxes (28820) (34250) (41827) 221 451 (115608) (124885) 80Net Profit After Taxes 69501 120739 136133 127 959 379473 431861 138

EDS



Egytrans Share Performance 2018

Data till 31-Dec-2018

Egytrans 2018 share dataYear High 1596 (29-Jan-18)Year Low 549 (20-Sep-18)Average Daily Volume 165458 sharesAverage Daily Turnover EGP 1829265

4

6

8

10

12

14

16

ETRS EGX30 - rebasedEGX70 - rebased EGX100 - rebased

Buying Treasury Shares in 4Q18 Based on Egytrans BoDrsquos decision dated 1-Oct-18 and due to our belief that the companyrsquos shares were undervalued and didnotreflectthecompanyrsquosfuturepotentialoritsstrongcompetitive position the company started the process to buy back2215500ofitsfreefloatsharesOPRwasopenedbyEGXatafixedpriceofEGP72pershare(15premiumoverthe market price of EGP 622) for an aggregate amount of EGP 159 million The transaction took place during the period from 1-Oct-18 until 11-Oct-18The offer was subscribed only 13 x with shareholders offering 28millionEgytranssharesontheEGXagainstthe22millionsharesofthebuybackThisweakresponsereflectstheshareholdersrsquo belief in the companyrsquos performance and future potentialandintheoverallrecoveryofEGX

Egytrans share vs EGX indices during the process

5

6

7

ETRS EGX30 - rebased EGX70 - rebasedEGX100 - rebased EGX20 - rebased

the stock outperformed all the indices during the treasury shares purchasing period



Future Outlook We are operating in a fast-changing environment with potential for growth The global transport and logistics market is growing Looking forward the market is projected to reach a value of US$ 1374 Billion by 2023 registering a CAGR of 73 during 2018-2023 Today the industry is entering a period of significantchangebringingopportunitiesandchallengesAsnew technological solutions come into everyday use driven by market trends the sector has been undergoing an important transformation At no point in recent history have we witnessed such a large degree of political economic social technological environmentalandlegalchangesinfluencingthissegmentoftheeconomy

Our strategic responseWe have analyzed each of these forces in detail taking into account their driving trends as well as the maturity of solutions emerging in the market as a response Our strategy is designed to respond to this changing environment To bring differentiated high-quality solutions and services to our customers with our various business lines technical know-how and talented people Our long-term priorities of Portfolio Performance and Trust will help us to deliver our strategyIn 2018 Egytrans refocused its business to make it stronger and more competitive in order to deliver improved sustainable returnsWehavesimplifiedourcommercialmanagementstructure and reshaped our operations We are aggressively reallocating resources to those areas best able to deliver profitablesustainablegrowthandreturnswithmuchmorefocuson new services and major markets The changes we are making will drive sharper prioritization a simpler portfolio faster decision-making more effective capital allocation and a strong focus on execution Our plans for 2019 are to continue streamlining our operations and inject new investments with a focus on generating growth

and synergies based on a group structure with multiple brands contributing to generating new potential and sustainable income andprofitsGoingforwardEgytranswilldeliverbestinclasstransport and logistics services with a strategy that rests on three pillars of performance portfolio and trust to deliver long term profitablegrowth Portfolio Achieving operational excellence by introducing high

quality services and improved customer experience through delivering new solutions in the transport and logistics industry designedtomeetthespecificneedsofeachcustomerEgytrans will continue to grow its market share with a view to vertical expansion to deliver innovative customer solutions

PerformanceEnsuringefficiencyinutilizationofworkingcapital and the best value delivered to shareholders and other stakeholders The company is therefore considering various investments in new areas in the transport and logistics sector to support this strategy while focusing on cost effectiveness and best practices to enhance returns Developing new services for existing and new customers is a key deliverable at the core of the strategy

Trust Continuously improving Egytransrsquo capabilities and internal systems while investing in human capital the companyrsquos most valuable asset and one of the most important factors in achieving our success and leading position

Outlook

Over the strategic plan period to 2020 we expect a single-digit CAGRforsalesasweseektoreducethestrongfluctuationsthat are the result of our cyclical project business We do so by continuingalongthestrategyofdiversificationofbusinesslinesand strengthening of core business Strong performances from our core business together with disciplined cost management are expected to enable the business to continue to achieve strong results



Egytrans Investor Relations

Contact Information Name Sherif HelmyTelephone +20 1015172111Email iregytranscomWebsite iregytranscom

About Egyptian Transport and Commercial Services Company (Egytrans) The Egyptian Transport and Commercial Services Company (Egytrans) is a leading integrated transport and logistics company with a comprehensive portfolio of services in Egypt With experience dating back to 1939 the company was established in 197 under the name Egytrans It has since developedanumberofsubsidiaryandaffiliatebrandsconsistingof Egytrans Depot Solutions (EDS) Egyptian Transportation amp Logistics SAE (ETAL) Wilhelmsen Ships Service Egypt and Scan Arabia Working across 9 branches in Egypt the mission of Egytrans is to make integrated transport easy safe and cost-effective Egytrans enables and facilitates global and national supply chains through its extensive range of services including SeaFreightAirFreightLandTransportCustomsClearanceProject Logistics Exhibitions and Storage Egytrans employs around 350 employees across its operations in Egypt and is publiclytradedontheEgyptianStockExchange(EGX)as[ETRSCA]forReutersand[ETRSEYEquity]forBloombergFormore information please visit ir egytranscom

Forward Looking Statements

Statements contained in this document that are not historical facts are based on current expectations estimates projections opinions and beliefs of Egytrans Such statements involve known and unknown risks uncertainties and other factors undue reliance should not be placed thereon Certain information contained herein constitutes ldquotargetsrdquo or ldquoforward-looking statementsrdquowhichcanbeidentifiedbytheuseofforward-looking terminology such as ldquomayrdquo ldquowillrdquo ldquoseekrdquo ldquoshouldrdquo ldquoexpectrdquo ldquoanticipaterdquo ldquoprojectrdquo ldquoestimaterdquo ldquointendrdquo ldquocontinuerdquo or ldquobelieverdquo or the negatives thereof or other variations thereon or comparable terminology Actual events or results or the actual performance of Egytrans may differ materially from those reflectedorcontemplatedinsuchtargetsorforward-lookingstatements The performance of Egytrans is subject to risks and uncertainties Various factors could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this document including worldwide economic trendstheeconomicandpoliticalclimateofEgypttheMiddleEast and changes in business strategy and various other factors



2018 Consolidated Financials Review 2018 represents a record year for Egytransrsquo regular business

showing growth rates above market with an aggregate of 34 increase Y-o-Y to reach EGP 128 million driven by our strategy of improving performance in key business sectors and thereby partially offsetting the expected decrease in revenues from cyclical projects Total revenues reached EGP 2779 million representing a decrease of 211 Y-o-Y The absence of high-margin mega projects business resulted in an increase in CostRevenues ratio by 11203 bps to record 693 in 2018 vis-agrave-vis 581 in 2017 This accordingly led to a decrease of 14434 bps in EBITDA margin to 177 vs 322 for both years respectively

NetProfitsafterTaxesfortheyeardeclinedby459reaching EGP 418 million down from EGP 773 million registeringaNetProfitMarginof150vis-a-visamarginof219in2017ThisdeclineinNetProfitswasmitigatedbyasignificantincreaseinrevenuesfromEgytransrsquoregular

business a decrease in SGampA due to our continued emphasis on cost and cash discipline positive Investment Income a considerable increase in Net Interest Income to EGP 55 millionlowerTaxProvisionsforEgytransampETALandfinallyathree-fold decrease in annual taxes

On the Balance Sheet front Accounts Receivable Days Sales Outstanding (DSO) has increased to 100 days in 2018 compared to 79 days in 2017 due to lower Revenues

In the meantime Cash balance decreased by 272 to register EGP 1059 million by end of 2018 from EGP 1455 million by end of 2017 due to the payment of dividends as well as purchase of new company headquarters tax payments and buy back of treasury shares amounting to 2215 million shares in 4Q18

Meanwhilefinancialleveragerecorded36in2018versusnil a year ago due to leasing 5 new trucks for the land transport pilot project as well as a loan for EGP 125 million to purchase the new HQ for Egytrans in the 5th Settlement (with DE ratio of 50-50)

15

20

25

30

35

20182017

322

177

EBITDA Margin

15

20

25

20182017

219

150

Net Profit Margin














DPO 35 35 -16


ISFiguresInEGP





ISFiguresInEGP





EPS 198 107 -459


ETAL63

EDS64

Egytrans873





DPO 36 35 -30


ISFiguresInEGP





ISFiguresInEGP










Egytrans Separate



286

211135

91

67

65

53

4132 11 09

Land Transport

Storage (Free Zone)

Unloading

Storage (Others)

Sea Freight

Extra Services

Storage (Adabeya)

Customs Clearance

Air Freight

Other Revenues

Transit



478

149

140

47

44

42

3523 19 12 09

Land Transport

Unloading

Storage (Free Zone)

Extra Services

Sea Freight

Storage (Adabeya)

Customs Clearance

Air Freight

Storage (Others)

Transit

Other Revenues



Sea Fr

eight

Air Frei

ght

Custo

ms Clea

rance

Unload

ing

Extra S

ervice

s

Land

Tran

sport

Storag

e (Adab

eya)

Storag

e (Fre

e Zon

e)

Storag

e (Oth

er)

Transit

Others

-100

0

100

200

300

0

20000000

40000000

60000000

80000000

100000000

120000000

140000000

160000000

2017 2018 Change

-100

-80

-60

-40

-20

0

20

40

60

80

100

0

10000000

20000000

30000000

40000000

50000000

60000000

70000000

80000000

90000000

100000000

110000000

2017 2018 Change







ISFiguresInEGP




ISFiguresInEGP




EPS 0191 0081 -575





ETAL







ISFiguresinUSD



ISFiguresinUSD






EDS






4

6

8

10

12

14

16




5

6

7











Outlook






















DPO 35 35 -16


ISFiguresInEGP





ISFiguresInEGP





EPS 198 107 -459


ETAL63

EDS64

Egytrans873





DPO 36 35 -30


ISFiguresInEGP





ISFiguresInEGP










Egytrans Separate



286

211135

91

67

65

53

4132 11 09

Land Transport

Storage (Free Zone)

Unloading

Storage (Others)

Sea Freight

Extra Services

Storage (Adabeya)

Customs Clearance

Air Freight

Other Revenues

Transit



478

149

140

47

44

42

3523 19 12 09

Land Transport

Unloading

Storage (Free Zone)

Extra Services

Sea Freight

Storage (Adabeya)

Customs Clearance

Air Freight

Storage (Others)

Transit

Other Revenues



Sea Fr

eight

Air Frei

ght

Custo

ms Clea

rance

Unload

ing

Extra S

ervice

s

Land

Tran

sport

Storag

e (Adab

eya)

Storag

e (Fre

e Zon

e)

Storag

e (Oth

er)

Transit

Others

-100

0

100

200

300

0

20000000

40000000

60000000

80000000

100000000

120000000

140000000

160000000

2017 2018 Change

-100

-80

-60

-40

-20

0

20

40

60

80

100

0

10000000

20000000

30000000

40000000

50000000

60000000

70000000

80000000

90000000

100000000

110000000

2017 2018 Change







ISFiguresInEGP




ISFiguresInEGP




EPS 0191 0081 -575





ETAL







ISFiguresinUSD



ISFiguresinUSD






EDS






4

6

8

10

12

14

16




5

6

7











Outlook













DPO 36 35 -30


ISFiguresInEGP





ISFiguresInEGP










Egytrans Separate



286

211135

91

67

65

53

4132 11 09

Land Transport

Storage (Free Zone)

Unloading

Storage (Others)

Sea Freight

Extra Services

Storage (Adabeya)

Customs Clearance

Air Freight

Other Revenues

Transit



478

149

140

47

44

42

3523 19 12 09

Land Transport

Unloading

Storage (Free Zone)

Extra Services

Sea Freight

Storage (Adabeya)

Customs Clearance

Air Freight

Storage (Others)

Transit

Other Revenues



Sea Fr

eight

Air Frei

ght

Custo

ms Clea

rance

Unload

ing

Extra S

ervice

s

Land

Tran

sport

Storag

e (Adab

eya)

Storag

e (Fre

e Zon

e)

Storag

e (Oth

er)

Transit

Others

-100

0

100

200

300

0

20000000

40000000

60000000

80000000

100000000

120000000

140000000

160000000

2017 2018 Change

-100

-80

-60

-40

-20

0

20

40

60

80

100

0

10000000

20000000

30000000

40000000

50000000

60000000

70000000

80000000

90000000

100000000

110000000

2017 2018 Change







ISFiguresInEGP




ISFiguresInEGP




EPS 0191 0081 -575





ETAL







ISFiguresinUSD



ISFiguresinUSD






EDS






4

6

8

10

12

14

16




5

6

7











Outlook














Egytrans Separate



286

211135

91

67

65

53

4132 11 09

Land Transport

Storage (Free Zone)

Unloading

Storage (Others)

Sea Freight

Extra Services

Storage (Adabeya)

Customs Clearance

Air Freight

Other Revenues

Transit



478

149

140

47

44

42

3523 19 12 09

Land Transport

Unloading

Storage (Free Zone)

Extra Services

Sea Freight

Storage (Adabeya)

Customs Clearance

Air Freight

Storage (Others)

Transit

Other Revenues



Sea Fr

eight

Air Frei

ght

Custo

ms Clea

rance

Unload

ing

Extra S

ervice

s

Land

Tran

sport

Storag

e (Adab

eya)

Storag

e (Fre

e Zon

e)

Storag

e (Oth

er)

Transit

Others

-100

0

100

200

300

0

20000000

40000000

60000000

80000000

100000000

120000000

140000000

160000000

2017 2018 Change

-100

-80

-60

-40

-20

0

20

40

60

80

100

0

10000000

20000000

30000000

40000000

50000000

60000000

70000000

80000000

90000000

100000000

110000000

2017 2018 Change







ISFiguresInEGP




ISFiguresInEGP




EPS 0191 0081 -575





ETAL







ISFiguresinUSD



ISFiguresinUSD






EDS






4

6

8

10

12

14

16




5

6

7











Outlook











286

211135

91

67

65

53

4132 11 09

Land Transport

Storage (Free Zone)

Unloading

Storage (Others)

Sea Freight

Extra Services

Storage (Adabeya)

Customs Clearance

Air Freight

Other Revenues

Transit



478

149

140

47

44

42

3523 19 12 09

Land Transport

Unloading

Storage (Free Zone)

Extra Services

Sea Freight

Storage (Adabeya)

Customs Clearance

Air Freight

Storage (Others)

Transit

Other Revenues



Sea Fr

eight

Air Frei

ght

Custo

ms Clea

rance

Unload

ing

Extra S

ervice

s

Land

Tran

sport

Storag

e (Adab

eya)

Storag

e (Fre

e Zon

e)

Storag

e (Oth

er)

Transit

Others

-100

0

100

200

300

0

20000000

40000000

60000000

80000000

100000000

120000000

140000000

160000000

2017 2018 Change

-100

-80

-60

-40

-20

0

20

40

60

80

100

0

10000000

20000000

30000000

40000000

50000000

60000000

70000000

80000000

90000000

100000000

110000000

2017 2018 Change







ISFiguresInEGP




ISFiguresInEGP




EPS 0191 0081 -575





ETAL







ISFiguresinUSD



ISFiguresinUSD






EDS






4

6

8

10

12

14

16




5

6

7











Outlook















ISFiguresInEGP




ISFiguresInEGP




EPS 0191 0081 -575





ETAL







ISFiguresinUSD



ISFiguresinUSD






EDS






4

6

8

10

12

14

16




5

6

7











Outlook













ETAL







ISFiguresinUSD



ISFiguresinUSD






EDS






4

6

8

10

12

14

16




5

6

7











Outlook















ISFiguresinUSD



ISFiguresinUSD






EDS






4

6

8

10

12

14

16




5

6

7











Outlook












EDS






4

6

8

10

12

14

16




5

6

7











Outlook














4

6

8

10

12

14

16




5

6

7











Outlook

















Outlook









2018 Consolidated Financials...

Documents

Transcript of 2018 Consolidated Financials...