Sinai Cement Achieves EGP 3Bn Net Profit In 2024, Boosts Market Share

(MENAFN- Daily News Egypt) Sinai Cement has reported massive growth across multiple performance metrics for 2024, achieving a net profit of EGP 3.077bn, a remarkable recovery from a net loss of EGP 121.419m in 2023. The company also recorded a standalone net profit of approximately EGP 3.072bn, reflecting its robust financial health and operational efficiency.

These positive results underline Sinai Cement's commitment to quality, sustainability, and innovation, contributing significantly to the Egyptian economy by meeting the local market's demand for this vital strategic commodity. Sinai Cement plays a key role in major national projects, including the monorail, the Grand Egyptian Museum, and the Greater Cairo Metro, further establishing its essential role in the country's infrastructure development.

The company has increased its market share to 5%, a reflection of its new strategic identity that focuses on delivering high-quality products that meet global standards while emphasizing environmental sustainability throughout the production process. This includes the launch of a groundbreaking project aimed at reducing fuel consumption by converting waste into alternative fuel sources.

Sinai Cement operates two production lines with an annual production capacity of 2.9 million tonnes of cement, positioning the company as a leader in Egypt's cement industry.

Pietro Calà, Managing Director of Sinai Cement, stated:“We are excited about expanding into international markets while maintaining the efficiency and high quality of our products, meeting market demands, and strengthening relationships to enhance Sinai Cement's position globally.”

Tamer Magdy, Chairperson of Sinai Cement, added:“The cement industry is a cornerstone of Egypt's economy. At Sinai Cement, we are committed to supporting local development through our participation in major projects. We are also proud to contribute to Egypt's cement export growth, reaching 15% of the country's total cement exports.”

Sinai Cement offers a diverse range of five high-quality products tailored to meet market demands. The company is dedicated to reducing its carbon footprint by continuously improving its product offerings and adopting new environmental practices, such as waste-to-energy initiatives. These efforts are in line with Sinai Cement's broader sustainability goals, ensuring the company's operations are both environmentally friendly and aligned with global standards.

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