Introduction Statement

TAQA announced its financial results for the fiscal year ending 31 December 2025, delivering a strong operational and financial performance across its diversified business portfolio. The Group recorded revenues of EGP 25.6 billion, representing a year‑on‑year increase of 35%, driven by broad‑based improvements in operational performance indicators across its four business sectors, in addition to the contribution of newly commissioned projects. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached EGP 2,475.6 million, reflecting a 23.1% increase compared to the prior year. This translated into a stronger overall profitability, with net profit increasing 50% year‑on‑year, marking the first time the Group exceeded the EGP 1 billion net profit threshold.

Consolidated Revenues

TAQA’s consolidated revenues for 2025 reached EGP 25.6 billion, representing a 35% year‑on‑year increase, underpinned by a diversified business model with contributions spanning petroleum, gas, power, and water activities. This growth reflects TAQA’s focused strategy to scale its four core operating arms locally, while regional expansion continues to deliver tangible results, underpinning revenue growth and strengthening the Group’s footprint across five countries in addition to its domestic market.

The Petroleum division remained the largest contributor to TAQA’s consolidated revenues in 2025, generating EGP 15,715 million, reflecting a year‑on‑year growth of 49.6% and accounting for approximately 61% of total Group revenues. This strong performance was primarily driven by an 8% increase in sales volumes—the highest growth rate recorded over the past four years—supported by enhanced logistics capabilities following the commissioning of the new Alexandria terminal, and the addition of three new stations, coupled with the positive impact of multiple price adjustments implemented during 2025.

The Power division delivered a solid performance in 2025, with revenues reaching EGP 4,230.3 million, up 19.8% year‑on‑year, supported by price adjustments implemented in 2024 and higher volumes. The small‑ and medium‑scale renewable arm recorded a 10% increase in volumes, driven by the full‑year contribution of projects commissioned in 2024, while power distribution consumption grew by 5% amid rising demand. The distribution business also continued to benefit from earlier diversification efforts, serving a broad mix of tourism, industrial, and commercial clients.

The Gas division delivered a solid performance in 2025, with revenues reaching EGP 5,476 million, representing a year‑on‑year growth of 12.8%. Growth was supported by improved performance across the domestic gas platform, including a 7% increase in CNG volumes driven by the addition of four new stations during 2025 and full‑year operational impact of five stations commissioned in 2024, as well as higher gas distribution revenues driven by increased industrial connections and improved sales across the Hurghada network.

As part of the Gas division’s revenue base, regional operations also recorded positive performance during the year, with Africa CNG strengthening its footprint through the commissioning of two new CNG stations in 2025, one in Tanzania and one in Mozambique, supporting improved operating performance. In parallel, the KSA business completed its first full year of operations, recording strong growth in operating profit, with EBITDA increasing by around 200%.

The Water division delivered a strong performance in 2025, with revenues reaching EGP 171.5 million, representing a year‑on‑year growth of 230%. During the year, the division reached an average operating capacity of approximately 33,000 cubic meters per day, reflecting the continued expansion and ramp‑up of its desalination projects. This strong growth marks the Water division as an increasingly visible contributor to TAQA’s consolidated revenues and reinforces the strategic rationale behind the Group’s expansion into the water desalination sector.

This performance underscores TAQA’s continued focus on building a resilient and diversified platform across its core energy and utilities businesses. Through disciplined execution, portfolio diversification, and selective investments, the Group remains well positioned to sustain growth, enhance earnings quality, and create long‑term value while supporting broader economic development across its operating markets.

Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA)

TAQA delivered a strong earnings performance in 2025, with consolidated EBITDA reaching EGP 2,475.6 million, representing a 23.1% year‑on‑year increase, supported by improved operating performance across its diversified business portfolio.

EBITDA growth during the year was driven by the following factors:

  • Increased volumes: Higher volumes across key business lines contributed positively, driven by increased fuel and CNG sales following network expansion, higher gas distribution volumes from industrial clients, and increased power distribution consumption.
  • Operational enhancements: EBITDA benefited from the continued ramp‑up and optimization of newly commissioned assets, including fuel and CNG stations, PV power projects, expanded gas distribution networks, and scaling water desalination operations, resulting in improved utilization and operating leverage.
  • Regional expansion: Regional operations contributed positively during the year, with Africa CNG delivering a strong operational turnaround supported by new station additions, while the KSA gas business recorded a positive EBITDA contribution following its first full year of operations, with profitability increasing by approximately 600% year‑on‑year.
  • Improved margins: Improved margins across the Petroleum, Gas, and Power divisions supported EBITDA growth, driven by enhanced cost efficiency, an improved business mix, and a well‑structured tariff framework designed to effectively capture foreign exchange movements and inflationary impacts

Net Profit

TAQA’s net profit for 2025 reached EGP 1,053 million, representing a strong year‑on‑year growth of 50%. This performance was achieved despite EBITDA increasing by 23.1%, reflecting the positive impact of proactive management initiatives, including effective cost control, an optimized financing structure, improved operational efficiency, and a more favorable interest rate environment. These factors collectively supported the Group’s ability to enhance profitability.

Key Strategic and Operational Highlights:

  • Gas – Expanding into new regional markets with:
  • Saudi Arabia (KSA) – Breakout First Full Year:

TAQA Arabia completed its first full year of operations in Saudi Arabia, delivering exceptional profit growth of approximately 600% year‑on‑year. The business achieved strong operational momentum during the year and entered the next phase with a solid backlog. Importantly, TAQA Arabia was successfully qualified for gas concessions in a highly competitive landscape alongside leading global energy players, reflecting strong market recognition and validation of the Group’s technical and operational capabilities

  • Africa – Scaling the CNG Platform

TAQA Arabia continued to strengthen its presence across African markets, expanding its CNG footprint during the year. The Group also made a strong entry into the wholesale segment, leveraging its proven reliability and state‑of‑the‑art equipment, supporting volume growth and enhancing its platform for future scale‑up and profitability.

  • Water – Proven Track Record and Rapid Scale‑Up

TAQA Arabia achieved a key milestone in its Water business, qualifying to bid for a desalination plant up to 55,000 cubic meters per day within a major petrochemical complex. This reflects a strong execution track record built in less than three years, during which the Group entered the water construction segment, successfully delivered an initial project, and formed a consortium to pursue larger‑scale water infrastructure developments.

  • Power – Advancing Egypt’s Largest Renewable Opportunity

The Power division achieved a significant milestone in the development of the Zafarana renewable energy project (3.2 GW), following the signing of a Memorandum of Understanding. The project is progressing toward the conclusion of a Power Purchase Agreement (PPA) during 2026, which, once signed, will mark the largest renewable energy project in Egypt, positioning TAQA Arabia at the forefront of the country’s energy transition.

  • Petroleum – Operating at Scale with Enhanced Logistics

The Petroleum division is operating at full capacity at the Alexandria terminal, having successfully reached its maximum throughput levels. In response to increasing demand, TAQA Arabia is advancing the development of enhanced offloading mechanisms to improve handling efficiency and further optimize throughput across its two-terminal infrastructure.

Strategic Growth Platforms and Expansion Roadmap

Expansion within Existing Territories

  • Gas & LNG – Tanzania: TAQA Arabia continued to advance its LNG initiative in Tanzania, strengthening its integrated gas offering and supporting the expansion of energy solutions in underserved markets.
  • Financial Services and Digital Platforms – Expanding Value Across the Customer Base: Leveraging its reach to more than 8 million individuals and its focus on delivering a seamless customer experience, TAQA Arabia is expanding into financial services through a digital platform. The Group has established TAQA for Financial Investments as a holding company to support the launch of a consumer finance business, while Waqooud, its cashless fleet management and fuel services platform, is already deployed across more than 500 fuel stations.
  • Golden Triangle – Integrated One‑Stop‑Shop Development: The Group is progressing the Golden Triangle project, an integrated initiative combining the capabilities of four TAQA business arms under a public‑private partnership framework. The project introduces a new operating concept, delivering state‑of‑the‑art, end‑to‑end services to clients through a one‑stop‑shop model.
  • Petroleum – Logistics and Terminal Expansion: TAQA Arabia is advancing plans to develop an additional petroleum terminal, with Cairo or Upper Egypt under evaluation, aimed at enhancing logistics capacity, geographic coverage, and service efficiency to support growing demand.

Strategic Expansion into New Markets

Building on its strong operating platform and proven execution capabilities, TAQA Arabia continues to pursue selective expansion into new regional and international markets, targeting opportunities that offer scalable growth and attractive returns

  • Middle East Expansion (Iraq, Libya, Jordan): TAQA Arabia is actively assessing opportunities to enter key regional markets, including Iraq, Libya, and Jordan, where growing demand for reliable energy and utility infrastructure presents compelling long‑term potential. These markets offer opportunities to deploy the Group’s expertise across gas distribution, fuel services, and integrated energy solutions.
  • Africa – Selective Market Entry: In Africa, the Group is evaluating expansion into two potential markets, with the objective of selecting one priority country for entry. This approach reflects TAQA Arabia’s disciplined expansion strategy, focusing on markets where its operating model can be efficiently replicated and scaled while maintaining risk‑adjusted returns
  • Water – International Expansion Readiness: TAQA Water has reached a level of operational and technical maturity that positions it to explore opportunities across markets beyond Egypt, building on its established capabilities in water desalination.

Overview on TAQA Arabia

TAQA Arabia is Egypt’s leading private sector group in energy distribution and its integrated services, providing a wide range of services tailored to customer needs in Egypt, Africa and MENA regions. The Group serves more than 1.8 million domestic, industrial, touristic, and commercial customers with their daily needs of natural gas, electricity, renewable energy, petroleum products, and water in 50 Egyptian cities.

TAQA Arabia invests, constructs, operates, and maintains energy infrastructure including gas transmission & distribution in 8 Egyptian governorates, conventional and renewable power generation & distribution, water treatment and desalination services, as well as marketing oil products and lubricants throughout several retail fuel stations across the country.

Through its subsidiary "Master Gas", the company operates an extensive number of CNG stations and conversion centres, as well as providing off-grid customers with Mobile CNG services to deliver gas to areas far from the natural gas grid across Egypt and the region.

Forward-Looking Statement

This communication contains certain forward-looking statements.  A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as “according to estimates”, “anticipates”, “assumes”, “believes”, “could”, “estimates”, “expects”, “intends”, “is of the opinion”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “to the knowledge of”, “will”, “would” or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking.  This applies, in particular, to statements containing information on future financial results, plans or expectations regarding the Company’s business and management, the Company’s future growth or profitability and general economic and regulatory conditions and other matters affecting the Company.

Forward-looking statements reflect the Company’s management’s (“Management”) current views of future events, are based on Management’s assumptions, and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.  The Company’s business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to become inaccurate. The Company does not undertake any obligation to review, update, confirm or release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.