Valmore Holding, a key investor in the oil and gas industry, reported a 2.3% year-on-year (YoY) increase in gross profit during the first nine months (9M) of 2026, reaching $182 Mn, according to a document released by the company.

The Egypt- and Kuwait-listed company’s revenue reached $568 Mn in 9M 2026, up 9.51% from the corresponding period last year.

Attributable net profit from Valmore’s five largest subsidiaries, AlexFert, Sprea, NatEnergy, Kahraba, and ONS, grew by 22.4% YoY to $142 Mn during the nine-month period, while their combined revenue rose by 19.8% YoY to $540 Mn.

In the third quarter (Q3) of 2026, the group’s revenue increased by 2.86% YoY to $176 Mn.

“The third quarter of 2026 tested the premise on which Valmore’s portfolio is built, and it held. As export urea prices retreated from their exceptional second-quarter highs, the Group’s diversified businesses carried it forward,” said Valmore Holding Chairman Loay Al-Kharafi.

Al-Kharafi welcomed Heba Al-Kharafi as the new chair of Valmore’s Board of Directors following her appointment on November 12, adding that he would continue to serve as a board member.

For his part, Valmore Holding CEO Jon Rokk said: “The first nine months of 2026 brought meaningful growth across Valmore’s operating businesses. In chemicals, AlexFert capitalized on an exceptional pricing environment for export urea in the first half. As prices normalized in Q3, the removal of the export levy, effective August 1, helped cushion the impact on AlexFert’s export margins.”

Valmore reported a 13% YoY increase in revenue during the first half (H1) of 2026 to $392 Mn, driven by strong second-quarter performance.