Financials Qatar National Bank

Equities

End-of-day quote Egyptian Exchange Other stock markets 2025-12-10			5-day change	1st Jan Change
46.14 ^EGP	+1.41%		+6.98%	+44.32%

Dec. 01	Mideast stocks-Gulf markets mixed on US rate cut hopes	RE
Oct. 07	QNB Egypt Q3 consol profit rises	RE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	16,839	17,853	22,417	35,638	48,147	57,786	64,846	72,736
Change	-	6.02%	25.56%	58.98%	35.1%	20.02%	12.22%	12.17%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	12,819	13,328	-	30,595	33,459	46,816	52,504	58,874
Change	-	3.97%	-	-	9.36%	39.92%	12.15%	12.13%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	10,568	11,135	15,491	24,922	39,634	41,764	46,928	52,363
Change	-	5.36%	39.12%	60.88%	59.04%	5.37%	12.37%	11.58%
Net income ¹	7,492	7,627	10,350	16,228	26,398	29,443	32,116	36,223
Change	-	1.8%	35.72%	56.79%	62.67%	11.53%	9.08%	12.79%
Announcement Date	1/13/21	1/11/22	1/12/23	1/14/24	1/13/25	-	-	-

¹EGP in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3
Net sales	-	4,232	4,508	4,231	4,882	5,603	5,609	-	6,521	7,882	8,479	9,220	10,057	14,892	11,786	12,015	12,985	-	-	-
Change	-	-	6.53%	-6.16%	15.39%	14.77%	0.11%	-	-	20.87%	7.58%	8.73%	9.08%	48.07%	-20.86%	1.95%	8.07%	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	3,214	3,504	3,135	3,475	4,355	4,314	-	-	6,338	6,955	7,712	8,288	12,827	9,967	-	8,992	-	-	-
Change	-	-	9.02%	-10.52%	10.83%	25.33%	-0.94%	-	-	-	9.72%	10.89%	7.46%	54.78%	-22.3%	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	2,772	-	-	-	-	-	3,880	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	1,849	1,967	2,131	1,908	1,620	2,208	2,546	2,577	3,019	4,715	3,950	3,859	3,704	7,042	6,699	6,320	6,337	7,186	7,917	7,109
Change	-	6.38%	8.36%	-10.46%	-15.11%	36.29%	15.31%	1.23%	17.13%	56.18%	-16.21%	-2.31%	-4.02%	90.13%	-4.87%	-5.67%	0.27%	13.39%	10.17%	-10.2%
Announcement Date	1/13/21	4/12/21	7/12/21	10/10/21	1/11/22	4/12/22	7/8/22	10/10/22	1/12/23	4/10/23	7/10/23	10/10/23	1/14/24	4/15/24	7/10/24	10/8/24	1/13/25	4/9/25	7/9/25	10/7/25

¹EGP in Million

Estimates

¹EGP in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	1/13/21	1/11/22	1/12/23	1/14/24	1/13/25	-	-	-

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024
CAPEX ¹	613.2	402.9	728.4	514.5	475.8	570.4
Change	-	-34.3%	80.8%	-29.36%	-7.52%	19.87%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	1/15/20	1/13/21	1/11/22	1/12/23	1/14/24	1/13/25

¹EGP in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	76.13%	74.65%	-	85.85%	69.49%	81.02%	80.97%	80.94%
EBT Margin (%)	-	62.76%	62.37%	69.11%	69.93%	82.32%	72.27%	72.37%	71.99%
Net margin (%)	-	44.49%	42.72%	46.17%	45.54%	54.83%	50.95%	49.53%	49.8%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	2.7%	2.3%	2.46%	2.92%	3.64%	3.1%	2.99%	2.88%
ROE	-	20%	17.7%	20.6%	26.88%	33.49%	27.7%	24.47%	22.77%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	0.75	-	-	-	2.5	2.39	2.747
Change	-	-	-	-	-	-	-	-4.4%	14.92%
Book Value Per Share ¹	-	18.39	21.52	25.11	30.92	42.24	49.3	61.41	74.01
Change	-	-	17%	16.65%	23.18%	36.6%	16.71%	24.56%	20.52%
EPS ¹	-	3.08	3.1	4.2	6.57	10.76	12.54	13.98	15.75
Change	-	-	0.65%	35.48%	56.43%	63.77%	16.51%	11.54%	12.61%
Nbr of stocks (in thousands)	-	2,154,823	2,154,823	2,154,823	2,154,823	2,154,823	2,154,823	2,154,823	2,154,823
Announcement Date	-	1/13/21	1/11/22	1/12/23	1/14/24	1/13/25	-	-	-