Valmore Holding, previously known as Egypt Kuwait Holding, reported its financial results for the fiscal year (FY) 2025, with revenues rising 24% year-on-year (YoY) to $685 million.
Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 26% YoY to $322 million. At the same time, net profit remained broadly stable at $186 million, compared with the previous year, boosted by one-off foreign exchange gains of $54.5 million.
In the fourth quarter (Q4) 2025, revenues increased 15% YoY to $166 million, while net profit rose 7% YoY to $49.4 million. Chairman Loay Jassim Al-Kharafi said the rebrand from Egypt Kuwait Holding to Valmore Holding reflects a strategic shift toward resilience, geographic diversification, and a stronger hard-currency earnings profile.
“2025 marked a significant step in Valmore Holding’s ongoing transformation, as we entered a new phase in our evolution as a regionally anchored and globally oriented investment platform. The rebrand to Valmore Holding reflects this broader strategic shift, one aimed at strengthening the Group’s resilience, broadening its international footprint, and supporting sustainable long-term value creation within an evolving global environment,” Loay Jassim Al-Kharafi, the Group’s performance and outlook, Valmore Chairman, noted.
“Where Egypt Kuwait Holding reflected our legacy, Valmore represents our future ambition as a more balanced and resilient investment platform with broader geographic exposure, a stronger hard-currency earnings mix, and multiple avenues for long-term growth,” Al-Kharafi pointed out.
Meanwhile, Jon Rokk, the Group’s FY25 results, Valmore CEO, commented, “On a consolidated basis, Valmore delivered strong overall growth in FY25, demonstrating the strength and resilience of our high-quality portfolio and operating model. Revenues increased by 24% YoY to $685 million, supported by healthy EBITDA and net profit margins of 47% and 27%, respectively. This performance resulted in bottom-line profitability broadly in line with that of the prior year, reflecting strong underlying operating performance, despite the non-recurrence of one-off foreign exchange gains recognized in FY24. These results underscore Valmore’s ability to generate sustainable value across geographies and deliver consistent returns through market cycles.”
The company maintains a positive medium-term outlook, bolstered by steady operations and a successful push for greater market share. With industry pricing stabilized by extended anti-dumping measures on sulphonated naphthalene formaldehyde (SNF) imports, earnings visibility has improved significantly. Further growth is anticipated as local construction rebounds, exports rise, and raw material costs normalize—all of which are expected to drive a steady recovery in margins.
Valmore Holding (VLMR.CA and VLMRA.CA on the Egyptian Exchange and VALMORE.KW on the Boursa Kuwait) is one of the Middle East and North Africa (MENA) region’s leading investment companies. Established as Egypt Kuwait Holding (EKH) in 1997 by a consortium of Kuwaiti and Egyptian businessmen, Valmore’s investment portfolio is diversified across various sectors and geographies, spanning five strategic sectors, including chemicals, building materials, utilities, oil and gas, as well as non-banking financial services.
