Eng. Hany Dahy Chairs Abu Qir Fertilizers’ General Assembly in the Presence of the Minister of Petroleum and Mineral Resources
Eng. Karim Badawy, Minister of Petroleum and Mineral Resources, attended the General Assembly of Abu Qir Fertilizers and Chemical Industries Company to approve the results of the financial year 2024/2025, in the presence of the Company’s shareholders.
At the beginning of the General Assembly, HE Eng Karim Badawy and Eng. Hany Dahy, Chairman and Managing Director of the Company, paid a tribute to the soul of Eng. Abed Ezz El-Regal, the former Chairman of the Company, who led a successful journey during his tenure.
The Minister praised the Company’s role in ensuring the sustainable supply of fertilizers to the Egyptian market, contributing to meeting farmers’ needs and supporting the State’s efforts to achieve food security. He emphasized the importance of continuing to enhance Egypt’s competitiveness in European markets through the expansion of green projects, carbon-emission reduction solutions, and the use of renewable energy, highlighting Abu Qir Fertilizers as a model for environmentally responsible industry aligned with European market requirements. He also commended the Company’s strong commitment to safety.
For his part, Eng. Hany Dahy, Chairman and Managing Director and Chairman of the General Assembly, expressed his sincere appreciation to Eng. Karim Badawy for his continued support and effective efforts in addressing challenges related to natural gas availability.
Eng. Dahy presented the Company’s performance for the financial year 2024/2025, highlighting the notable growth and exceptional achievements realized despite the challenges faced. He noted that the Company optimally utilized these periods by implementing carefully planned maintenance, replacement, and renewal programs for its three plants simultaneously—an unprecedented step in the Company’s history—while fully adhering to occupational safety and health standards.
He added that the Company fulfilled its leading role in supporting Egypt’s food security by supplying 17 million bags of fertilizers to the Ministry of Agriculture, in addition to exporting to approximately 22 countries, generating foreign currency proceeds estimated at USD 317 million, alongside the local marketing of ammonia and solid fertilizers at free market prices.
The Company achieved record revenues, the highest in its history, with core operating revenues reaching EGP 22.92 billion, representing a 24% increase year-on-year. Operating profits also grew by 27% to EGP 8.16 billion, reflecting strong operational performance and efficient consumption of energy, water, and electricity.
Abu Qir Fertilizers continues to rank among the top 10 companies listed on the Egyptian Exchange in terms of market capitalization.
In line with its sustainability commitments, the Company succeeded in reducing approximately 1.3 million tons of carbon dioxide emissions, and is currently implementing a solar power project with a first-phase designed capacity of 2.6 MW.
The Company is also keen to keep pace with global developments in green production and is working to convert North Abu Qir foe Agri-Nutrients Project into a green project utilizing renewable energy from green hydrogen instead of natural gas for the production of green ammonia. In parallel, partial substitution of natural gas with hydrogen is underway across the Company’s other plants.
The General Assembly approved the distribution of a cash dividend of EGP 6 per share.
