TAQA Arabia, Egypt’s leading private sector energy group, announced exceptional financial results for the year 2024, demonstrating resilience and robust growth despite a complex operating environment. The company reported a 40.4% surge in revenues, reaching EGP 18.905 billion, while EBITDA increased by 34.6% to EGP 2,003.3 million, and net income rose by 26.7%.

“The year 2024 presented significant regional and global headwinds, including economic volatility, inflation, and supply chain disruptions,” TAQA Arabia stated in its earnings release. “Despite navigating this challenging landscape, TAQA Arabia demonstrated exceptional resilience.”

The Petroleum division saw a 33.6% revenue increase, driven by higher fuel sales volumes and price adjustments. The Gas Division achieved a 30.7% revenue increase year-on-year, boosted by CNG network expansion, price hikes, and regional operations.

Revenue in the Power division jumped 47.7%, fueled by price hikes, new photovoltaic (PV) projects, and increased consumption.

Expansion into Tanzania, Mozambique, and Saudi Arabia contributed to strong growth in gas regional business revenues.

TAQA Arabia’s future vision centers on sustainable growth and transformative initiatives, including integrating environmental, social, and governance (ESG) standards into all operations; targeting high-growth markets in Africa and the Middle East; enhancing customer experience through user-friendly interfaces and operational automation; and expanding service offerings to meet evolving client needs.