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| 2011-08-13 |
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| Summary of decisions taken in the board of directors meeting No.8/2011 |
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| EGYTRANS board of director meeting was held on Sunday 7/8/2011 at 2 pm in Mohandiseen branch . The meeting was attended by:
• Mr. Hussam Leheta - Chairman &C EO
• Mr. Ahmed El Beheiry – Executive member
• Ms. Abir Leheta - Executive member
• Mr. Hassan Atta - Non-executive member
• Mr. Said Abd El Gleel-- Non-executive member representing the National Investment Bank
• Dr. Amr Kais - Expert and independent member
• Dr. Mohga Badran - Expert and independent member
• Mr. Mohamed Ibrahim Thabet - Non-executive member representing the National Investment Bank
The secretary of the meeting was Ms. Rania Farouk.
The board members discussed the meeting agenda and decided the following:
1. Approve the Board of Directors Minutes of Meeting No. 7/2011 held on 11/5/2011.
2. Review the follow-up report of board recommendations and decisions taken last board meeting.
3. Review and approve the follow-up report issued by the Compensation and Nomination Committee concerning the recommendations and decisions taken in the committee meeting held on 2/8/2011
4. Review and approve the follow-up report issued by the Audit and Corporate Governance Committee concerning the recommendations and decisions taken in the committee meeting held on 31/7/2011
5. Discuss the report issued by the Audit and Corporate Governance Committee concerning financial statements and consolidated financial statements for Q2 2011.
6. Discuss and approve the financial statements and consolidated financial statements for Q2 2011
• The Board members unanimously agreed on buying a new apartment to be the company branch for Cairo Airport
• The Board members unanimously agreed on buying the shares of Oversight Co. in Global Depot Solutions representing 25% of the company shares and increasing GDS’ issued and authorized capital from USD 1 Million to be USD 1,500,000 – an increase of USD 500,000
• The Board members unanimously agreed on changing the company accounting policy applied on 31/12/2010 concerning the evaluation of investments in EGYTRANS affiliates and subsidiaries to use the cost method instead of the ownership method
After completing the agenda, the meeting ended at 4 pm.
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| 2011-08-10 |
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| Financial statement results for the period from 1/1 to 30/6/2011 |
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| The Egyptian Transport & Commercial Services Co. (EGYTRANS) announced the financial statement results for the period from 1/1 to 30/6/2011 as follows:
• Total Sales (Turnover) for the period from 1/1 -30/6/2011 reached EGP 69,961,900 compared to EGP 60,708,573 for the same period of 2010, with an increase of EGP 9,253,327 or 15.2%.
• Gross Profit for the period from 1/1 - 30/6/2011 reached EGP 9,895,321 compared to EGP 7,675,635 for the same period of 2010 with an increase of EGP 2,219,686 or 28.9%.
• Net profit for the period from 1/1 - 30/6/2011 reached EGP 6,830,666 compared to EGP 7,456,423 for the same period of 2010 with an increase of EGP 625,757 or 8.4%.
• Earnings per share reached EGP 0.39 for the period from 1/1 - 30/6/2011 compared to EGP 0.69 in 2010, noting that earnings per share were calculated based on company capital of EGP 156,062,500 compared to company capital of 97,729,170 for the same period of 2010.
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| 2011-08-10 |
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| Consolidated Financial Statement results for the period from 1/1 to 30/6/2011 |
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| The Egyptian Transport & Commercial Services Co., (EGYTRANS) announced the consolidated financial statement results for the period from 1/1 to 30/6/2011 as follows:
• Total Sales (Turnover) for the period from 1/1 - 30/6/2011 reached EGP 70,461,684 compared to EGP 60,708,573 for the same period of 2010, with an increase of EGP 9,753,111 or 16%.
• Gross Profit for the period from 1/1 - 30/6/2011 reached EGP 11,782,729 compared to EGP 8,849,264 for the same period of 2010 with an increase of EGP 2,933,465 or 33%.
• Net profit for the period from 1/1 - 30/6/2011 reached EGP 7,441,007 compared to EGP 7,621,960 for the same period of 2010 with an increase of EGP 180,953 or 2.4%.
• Earnings per share reached EGP 0.45 for the period from 1/1 - 30/6/2011 compared to EGP 0.71 in 2010, noting that earnings per share were calculated based on company capital of EGP 156,062,500 compared to company capital of 97,729,170 for the same period of 2010.
• Related party transactions with one of EGYTRANS’ subsidiaries (ETAL) reached EGP 3,420,000 for the period from 1/1 - 30/6/2011.
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| 2011-07-27 |
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| Egytrans had signed new contract on July 27, 2011 with Hyupjin Shipping Co. LTD of Korea |
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| Egytrans had signed new contract on July 27, 2011 with Hyupjin Shipping Co. LTD of Korea, Egytrans will offer the Forwarding Services (Handling at the Ports, Clearing & Transportation) for Ain Soukhna Power Plant Project.
The expected volume is approximate 136,000 FRT with total contract value about EGP 40 million, work had started on 2nd quarter 2011 after signing MOU and is expected to continue till 1st quarter 2013.
Disclosure related to signing the MOU had been sent to EGX on June 21, 2011.
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| 2011-07-20 |
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| EGYTRANS Chairman &CEO, was invited by the U.S. Trade and Development Agency (USTDA) to be an official delegate at the Egypt: Forward - Partnering for Trade & Economic Growth Forum |
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| Mr. Hussam Leheta, EGYTRANS Chairman & CEO, was invited by the U.S. Trade and Development Agency (USTDA) to be an official delegate at the Egypt: Forward - Partnering for Trade &
Economic Growth Forum that was organized by the Graduate School (GS) in partnership with the International Executive Service Corps (IESC). The Forum took place from June 27 to June 28, 2011 in Washington D.C. Mr. Leheta gave a presentation on development and investment challenges & opportunities as part of a panel on the Transport Sector in Egypt .
Mr. Leheta also participated in a Transportation Site Visit to New York City from June 29 to July 1, 2011 during which he took part in a tour of the facilities of leading companies in the transport field in the New York area and gave a presentation on EGYTRANS’ upcoming projects and related investment opportunities for US companies
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| 2011-06-21 |
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| EGYTRANS signed a Memorandum of Understanding with Hyupjim Shipping Co. – Seoul – Korea to deliver equipment to El Sukhna Power Station |
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| EGYTRANS signed a Memorandum of Understanding (MoU) to deliver equipment to El Sukhna Power Station as a first step in signing the final project contract between the two parties.
EGYTRANS carried out the first shipment during June 2011. Next July, EGYTRANS will carry out the second shipment within the agreement between the two parties. The total contract value is EGP 40 Million for the transport of 136,000 tons. The contract will extend until the end of the year 2012.
The Sukhna Power Station is one the projects given high priority by the Ministry of Electricity.
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| 2011-06-21 |
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| EGYTRANS obtained the approval of the General Free Zone in Port Said to add food storage to the Free Zone activities of the company |
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| EGYTRANS obtained approval from the Research Department at the Free Zone in Port Said to add storage of food not requiring any freezing or chilling as a new item in its licensed activities in the Port Said Free Zone contingent on 100% re-export.
This decision will help in developing the volume of business and lead to new types of goods in the free zone especially after the decision taken on December 2009 by the General Investment Authority, preventing the storage of cars in the free zone, which was the backbone of the company’s activities in the free zone during the previous period.
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| 2011-06-21 |
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| EGYTRANS River Ports, a subsidiary of EGYTRANS subsidiary reaches a final agreement with Qaliubiya Governorate concerning the cost of roads required for the planned river port project |
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| EGYTRANS River Ports, a subsidiary of EGYTRANS, reached a final agreement with Qaliubiya Governorate concerning the cost to be borne by the company for "the development, establishment and construction" of roads connecting the site of the river port project to be established in ElShurafa - Qanater with the ring road.
The contracts are being drafted to be signed by the Qaliubiya governor by mid-July 2011. Under this contract the company would obtain final approval from the armed forces in order to proceed with the remaining required approvals from various authorities stated in Presidential Decree No. 117 for the year 2008.
The river port is expected to be completed during the first quarter of 2012, according to the company’s existing plans
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| 2011-06-16 |
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| The Central Auditing Organization (CAO) report concerning the consolidated financial statements for Q1 2011 |
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| To view the Central Auditing Organization (CAO) report concerning the consolidated financial statements for Q1 2011click here
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| 2011-05-09 |
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| Consolidated Financial Statement results for the period from 1/1 to 31/3/2011 |
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| The Egyptian Transport & Commercial Services Co., (EGYTRANS) announced the consolidated financial statement results for the period from 1/1 to 31/3/2011 as follows:
• Total Sales (Turnover) for the period from 1/1 - 31/3/2011 reached EGP 39,638,406 compared to EGP 34,519,370 for the same period of 2010, with an increase of EGP 5,119,036 or 14.8%.
• Gross Profit for the period from 1/1 - 31/3/2011 reached EGP 6,710,560 compared to EGP 5,362,433 for the same period of 2010 with an increase of EGP 1,348,127 or 25%.
• Net profit for the period from 1/1 - 31/3/2011 reached EGP 4,782,314 compared to EGP 2,549,570 for the same period of 2010 with an increase of EGP 2,232,744 or 87.5%.
• Earnings per share reached EGP 0.30 for the period from 1/1 - 31/3/2011 compared to EGP 0.36 in 2010, noting that earnings per share were calculated based on company capital of EGP 156,062,500 compared to company capital of 56,062,500 for the same period of 2010.
• Related party transactions with one of EGYTRANS’ subsidiaries (ETAL) reached EGP 2,544,000 for the period from 1/1 - 31/3/2011
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| 2011-05-09 |
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| Financial statement results for the period from 1/1 to 31/3/2011 |
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| The Egyptian Transport & Commercial Services Co. (EGYTRANS) announced the financial statement results for the period from 1/1 to 31/3/2011 as follows:
• Total Sales (Turnover) for the period from 1/1 - 31/3/2011 reached EGP 39,496,004 compared to EGP 34,027,969 for the same period of 2010, with an increase of EGP 5,468,035 or 16%.
• Gross Profit for the period from 1/1 - 31/3/2011 reached EGP 5,252,777 compared to EGP 4,913,858 for the same period of 2010 with an increase of EGP 338,919 or 6.9%.
• Net profit for the period from 1/1 - 31/3/2011 reached EGP 4,314,219 compared to EGP 2,711,918 for the same period of 2010 with an increase of EGP 1,602,301 or 59.1%.
• Earnings per share reached EGP 0.28 for the period from 1/1 - 31/3/2011 compared to EGP 0.34 in 2010, noting that earnings per share were calculated based on company capital of EGP 156,062,500 compared to company capital of 56,062,500 for the same period of 2010.
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| 2011-05-09 |
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| Summary of decisions taken in the board of directors meeting No.6/2011 |
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| EGYTRANS board of director meeting was held on Sunday 8/5/2011 at 4 pm in Mohandiseen branch . The meeting was attended by;
Mr. Hussam Leheta - Chairman &C EO
Mr. Ahmed EL Beheiry – Executive member
Ms. Abir Leheta - Executive member
Mr. Hassan Atta - Non-executive member
Mr. El Saied Abd El Gleil - Non-executive member representing the National Investment Bank
Dr. Amr Kais - Expert and independent member
Dr. Mohga Badran - Expert and independent member
The secretary of the meeting was Ms. Rania Farouk
The board members discussed the meeting agenda and decided the following:
1. Approve the Board of Directors Minutes of Meeting No. 5/2011
2. Review the follow-up report of board recommendations and decisions taken last board meeting.
3. Review and approve the follow-up report issued by the Compensation and Nomination Committee concerning the recommendations and decisions taken in the committee meeting No. 8 on 7/4/2011
4. Review and approve the follow-up report issued by the Audit and Corporate Governance Committee concerning the recommendations and decisions taken in the committee meeting No. 14 on 4/5/2011
5. Discuss the report issued by the Audit and Corporate Governance Committee concerning financial statements and consolidated financial statements for Q1 2011.
6. Review the anti-corruption report issued in the 6th UN Global Compact meeting.
After completing the agenda, the meeting ended at 6pm.
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| 2011-04-17 |
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| Summary of the decisions taken in the board of directors meeting No.5/2011 |
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| EGYTRANS Board of Directors meeting was held on Thursday 14/4/2011 at 4 pm in Mohandiseen branch . The meeting was attended by:
Mr. Hussam Leheta - Chairman &C EO
Mr. Ahmed EL Beheiry – Executive member
Ms. Abir Leheta - Executive member
Mr. Hassan Atta - Non-executive member
Mr. El Saied Abd El Gleil - Non-executive member representing the National Investment Bank
Dr. Amr Kais - Expert and independent member
Dr. Mohga Badran - Expert and independent member
The secretary of the meeting was Ms. Rania Farouk.
The board members discussed the meeting agenda and decided the following:
1. Approved the Board of Directors Minutes of Meeting No. 4/2011
2. The Board members unanimously agreed on increasing EGYTRANS Barge Link’s issued capital from EGP 250,000 to EGP 2,500,000. EGYTRANS will pay this increase in full as it will be financed from the amount that EGYTRANS General Assembly previously approved for use in this project. The amount will be deposited in Bank Audi, Alexandria Branch.
After completing the discussion of the meeting agenda, the meeting ended at 6pm.
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| 2011-03-29 |
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| Consolidated Financial Statement results for the year 2010 |
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| The Egyptian Transport & Commercial Services Co., (EGYTRANS) announced the consolidated financial statement results for the year 2010 as follows:
• Total Sales (Turnover) for the period from 1/1 - 31/12/2010 reached EGP 134,368,294 compared to EGP 201,456,854 for the same period of 2009, with a decrease of EGP 67,088,560 or 33.3%.
• Gross Profit for the period from 1/1 - 31/12/2010 reached EGP 13,621,079 compared to EGP 26,857,159 for the same period of 2009 with a decrease of EGP 13,236,080 or 49.2%.
• Net profit for 2010 reached EGP 9,688,263 compared to EGP 11,462,989 for the same period of 2009 with a decrease of EGP 1,774,726 or 15.5%.
• Related party transactions with one of EGYTRANS’ subsidiaries (ETAL) reached EGP 1,111,153 for 2010
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| 2011-03-23 |
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| Invitation to the Ordinary GENERAL ASSEMBLY MEETING |
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| THE EGYPTIAN TRANSPORT & COMMERCIAL SERVICES COMPANY, S.A.E. (EGYTRANS)
Subject to the provisions of Law 159 for the year 1981 and Law 95 for the year 1992
Authorized capital of EGP 1 billion, Issued and paid capital of EGP 156,062,500
Headquarters: El Gomhoria and Mohammed Mahmoud St., Port Said - Commercial Registration No. 16974 Port Said
Invitation to the Ordinary GENERAL ASSEMBLY MEETING
EGYTRANS Board of Directors invites shareholders to attend the Ordinary General Assembly meeting to be held on Saturday, 2nd April, 2011 in the El Amira Hall of the Port Said Hotel in Port Said (previously Helnan Hotel) to discuss the following agenda:
1. Approve the Board of Directors’ report on the activities of the company and its financial position on 31/12/2010.
2. Approve the External Auditor’s report on the balance sheet, the income statement and other financial statements for the fiscal year ending on 31/12/2010.
3. Approve the balance sheet, income statement and other financial statements for the fiscal year ending in 31/12/2010.
4. Release the board members from all responsibility for the fiscal year ending on 31/12/2010.
5. Review the new composition of the Board composition and renew its duration for the coming five years.
6. Determine the attendance and transport allowances for the Chairman & CEO and the board members for the year 2011.
7. Appoint the External Auditor and determine his remuneration for the fiscal year ending on 31/12/2011.
8. Renew the authorization granted to the Board of Directors to call in the remaining amount of the capital increase according to the plan for new projects.
9. Authorize the board of directors to donate during 2011.
10. Approve related party transactions that took place during 2010 and authorize the board of directors to conduct related party transactions during 2011.
Notes:
 The shareholders have the right to attend the general assembly personally or delegate individual shareholders who are not board members. The proxy must be written and the delegated person must be a shareholder (article 41 of the company charter)
 Shareholders who wish to attend must present a bank statement issued from a bank or securities management company to company headquarters at least three days before the Assembly in addition to a certificate that the balance of stock in the statement has been frozen.
 The Ordinary General Meeting is valid only if attended by shareholders representing at least a quarter of the capital.
 If the minimum quorum is not present at the first meeting, a second meeting will be held on Saturday, 30th April, 2011 at 10 am in the same place. The second meeting will be valid regardless of the number of shares represented therein.
 Any queries or questions related to the subjects above may be submitted in writing to the company headquarters mentioned above, by registered mail or by hand in exchange for a receipt at least three days before the Assembly. The Assembly will only discuss subjects on its agenda.
 Shareholders must be present at least half an hour before the meeting and must present proof of identity.
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| 2011-03-01 |
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| Disclosure on the Effect of Recent Events in Egypt on EGYTRANS Assets & Properties |
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| The Egyptian Transport and Commercial Services Co. S.A.E (EGYTRANS) ETRS announces that recent events in Egypt have not affected its assets or properties in any way and that the company has not reduced its business or taken any extraordinary precautionary measures and the company is performing all of its activities as required.
By reviewing the names, that the General Attorney freezes their wealth, listed on the Egyptian Stock Exchange website (EGYPTSE.COM) on February 28, 2011, we found out that they are not included in our latest company shareholders list received from Misr for Central Clearing, Depository and Registry (MCSD) on 2010.
Regarding our company financial and operating status during the period in which the trading of the Egyptian Stock Exchange was suspended, the company was working normally as it was committed to projects and contracts with its customers.
EGYTRANS is working within the national fabric and we hope that our country will come out of this crisis stronger through the concerted efforts of all of the worthy and competent people working to serve our beloved Egypt.
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| 2011-02-10 |
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| Summary of the Board of Directors' meeting No.2/2011 |
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| EGYTRANS board of director meeting was held on Tuesdaay 8/2/2011 at 4 pm in Mohandseen branch . The meeting was attended by;
Eng. Hussam Leheta- Chairman &CEO
Mr. Ahmed EL BeheIry – Executive member
Eng. Abir Leheta- Executive member
Mr. Hassan Atta- Non-executive member
Mr. El Sayed Abd El Galeil- Non-executive member representing the National Investment Bank
Dr. Amr Qais- Expert and independent member
Dr. Mohga Badran- Expert and independent member
The Corporate Secretary was Ms. Rania Farouk.
The board members have discussed the meeting agenda and decided the following:
1.Due to the current events and after reviewing the stock exchange trading on 26&27 January 2011 with the expectations of the trading prices which will be affected at the beginning of the trade session, board members discussed the purchasing of treasury shares and the board unanimously decided:
a.Approving the purchase of treasury shares with maximum 780312 (seven hundred and eighty thousand three hundred and twelve shares) in order not to reach 5% of the total number of company shares.
b. Financing the purchase of these shares from so -far unused money of subscription in company capital increase .
c.Delegating the Chairman & CEO or his representative in conducting all procedures relating to this matter such as obtaining approvals from the concerned parties and purchasing from the first day of trading in Egyptian Stock Exchange which is expected to be on Sunday 13/2/2011.
After discussing all the meeting agenda, the meeting ended at 6pm
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| 2011-02-09 |
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| Disclosure |
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| EGYTRANS (Egyptian Transport and Commercial Services Co., S.A.E.) announces that recent events have not affected its assets or properties in any way and that the company is performing all of its activities as required and the members of its Board of Directors continue to carry out their job and there has been no change in the executive management of the company. Moreover, current events have not affected the company's activities and will not affect the nature of its business, particularly as the company is committed to projects and contracts with customers. The company has not reduced its business or taken any extraordinary precautionary measures as we are working within the national fabric. EGYTRANS expresses its certainty that our country will come out of this crisis stronger through the concerted efforts of all of the worthy and competent people working to serve our beloved Egypt. |
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| 2010-12-01 |
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| EGYTRANS Signs a Contract with KHARAFI NATIONAL FOR MECHANICAL AND ELECTRICAL WORKS S.A.E |
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| EGYTRANS signed a contract with KHARAFI NATIONAL FOR MECHANICAL AND ELECTRICAL WORKS S.A.E. Contract details include:
- Integrated Solutions for El-Shabab Power Plant , units 5, 6, 7 & 8 Power Plant Project in Egypt.
- The shipping start 4th Quarter of 2010 till 2nd Quarter 2011.
- Total volume 30,000 FRT.
- The extra ordinary weights are Four Turbines each 205 tons and 4 Generators each 177 tons.
- Total contract value EGP 10 millions.
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| 2010-11-10 |
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| EGYTRANS Signs a Contract with Toyota Tsusho Corporation on behalf of Mitsubishi Heavy Industries of Japan |
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| EGYTRANS signed a contract with Toyota Tsusho Corporation on behalf of Mitsubishi Heavy Industries. Contract details include:
- Integrated Solutions for Abu Qir Thermal Power Plant
Unit 6 & 7 Power Plant Project in Egypt.
- The shipping start second half of 2010.
- Total volume 23.278 FRT.
- The extra ordinary weights are Generator Stators each 404 tons and 2 Generator Rotors each 90.7 tons.
- Total contract value EGP 10 millions.
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| 2010-10-13 |
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| EGYTRANS Responds to External Inquiries |
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| (1) What are the prospects for the Nile river transportation project? Where exactly will the ETRS be located in the Nile river route? How much will you charge? What is ETRS’s market share in that route? How much is it expected for this business to contribute to ETRS’s top line?
- The Nile river transport will be divided into two high-margin business lines i) River Transport through a barge fleet that is able to transport containers (and bulk/breakbulk), and ii) River Ports Management, which willl be responsible for operating a river terminal in Kafr El Shorafa in Qalyoubeya governorate covering a total area of 17 feddans with a total capacity of 150,000 TEUs.
- These two lines of businesses will start operations by 2012 through Egytrans’ subsidiaries namely Egytrans Bargelink (100% owned) and Egytrans River Ports (100% owned).
- up to the present time, and according to the business plan, Egytrans will be in a leadership position in transporting containers along the Nile as the competition – being one company at present – has just started its operations through a contracts to transfer wheat imports and other bulk cargoes. It is expected that at one time or the other, they will also participate in the container transport.
- For additional information, please review the attached PDF document titled “2010525_Transport and Logistics_ETRS_Initiation of Coverage” issued by CI Capital Research.
(2) Is ETRS active in the Suez Canal route? Do Suez Canal revenues affect the ETRS stock price?
- Egytrans’ operations in Suez Canal is via its affiliates namely Scan Arabia Shipping Agencies and Barwill Egytrans Shipping Agencies (Egytrans owns a 30% stake in each).
- In general, Suez Canal performance is affecting directly Egytrans’ affiliates and accordingly indirectly Egytrans through the investment income.
(3) Are ALCN (Alexandria Containers) and CSAG (Canal Shipping) affiliated to ETRS in any way or are they competitors? Who owns the biggest market share?
- Egytrans has no any relation with ALCN or CSAG.
- ALCN is not competing with Egytrans by any mean though it is within the same sector as its major operations are containers handling activity in Alexandria and El Dekheila seaports. Meanwhile, CSAG is considered a competitor for Scan Arabia and Barwill Egytrans.
- We can not make any comparison concerning the market share as ALCN‘s operations are not the same as CSAG or Egytrans’ affiliates. Absent any data or information about CSAG’s clients, it is very hard to reach a market share breakdown for the shipping agencies operations.
(4) Who are ETRS’s major clients around the world?
Our major customers are the large multinationals and EPC companies around the world.
(5) What are ETRS’s most important future projects (which you are authorized to disclose) within the next 1-2 years?
- As above mentioned, River Transport and River Ports Management will be the most profitable and the highly contributors. Moreover, the company is expected to start its exclusive ISO Tank project by November 2010 as well as the expansions in the Land Transport and reviving the warehousing activity, and finally a considerable focus in the projects line of business, as Egytrans is a leading company in this type of profitable business.
(6) What was ETRS’s best year? And what was the reason behind that?
- The best year is 2009, for one major and important reason, which how the company has exhibited resilience in front of the repercussions following the global financial crisis at the time many global and local players in the Transport & Logistics sector have quit form the market as they hardly hit by this financial storm.
- This resilience has been realized as a result of better cost management, getting more clients through special offers and facilities. Our reputation regarding the quality of the services that we provide to your clients was an additional contributing factor.
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| 2010-10-11 |
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| (Mubasher.info) CI Capital keeps the fair value of EGYTRANS share at EGP 18.6 |
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| CI Capital kept the fair value of shares of Egyptian Transport & Commercial Services Co. (EGYTRANS) at EGP 18.6 and set the target price at EGP 19.6 with a buy recommendation.
CI Capital indicated that, for the first time, EGYTRANS has revealed the details of its investment plans untill the year 2013 with a cost of approximately EGP 470 million. These plans include penetration of the high margin and as yet untapped river transport industry in addition to facilitating transport along the Nile River through the use of new barges.
CI Capital also stated that the EGYTRANS investment plan with EGP 300 million to be allocated to owning and operating river barges while the remaining EGP 170 million will be allocated to the company’s new port in Qalyubia Governorate. EGYTRANS will execute its investment plan through two wholly owned subsidiaries - EGYTRANS Barge Link and EGYTRANS River Ports.
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| 2010-10-11 |
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| (Mubasher.info) CI Capital adds six shares to its portfolio of favorites and removes two |
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| CI Capital, the research arm of the Commercial International Bank CIB, added the following shares to its portfolio of favorits: Olympic Group, EGYTRANS, Raya Holding, Talaat Moustafa Group (TMG), Orascom for Construction & Industries (OCI) and EIPICO. It also removed shares of Egyptian for Tourism Resorts and Mobinil.
CI Capital explained that Olympic Group was added based on the increased demand on household goods due to marriages during the period of Eid El Fitr, which is expected to have a positive effect on the company. The EGYTRANS share was chosen due to the strong financial performance expected during the third quarter with the improved performance and flexible growth of the Transport Sector and an expected increase in profit margins.
At the same time, Orascom for Construction & Industries was kept as one of the best choices due to the aggressive efforts of Canada-based Potash to acquire most of the fertilizer industry worldwide. Therefor, this sector is likely to boost Orascom.
As for Raya, CI Capital continues to have a positive outlook on the company as it has maintained its growth at over 9% in the third quarter of 2010.
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| 2010-09-13 |
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| According to the Memorandum of Understanding that was signed |
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| between the General Authority for River Transport, Egyptian Transport and Commercial Services Co S.A.E. (EGYTRANS) and Egytrans River Ports Co. S.A.E., on 29th of July 2009; it was agreed that Egytrans River Ports Co. S.A.E. provides –at its own expense - a plot of land on The River Nile within the Greater Cairo Governorates suitable for establishing a river port for handling and transporting containers and goods through The River Nile.
As per the provisions of the presidential decree no. 474/1979 that states the establishment of the General Authority for River Transport and as per presidential decree amendment no. 117/2008 that states the necessity of obtaining prior approvals of both the Ministry of Defense and Ministry of Water Resources and Irrigation regarding river ports’ sites, Egytrans River Ports Co. S.A.E. has presented all needed documents, studies and correspondences to the Armed Forces in coordination with the General Authority for River Transport.
Egytrans River Ports Co S.A.E. has received from the Armed Forces General Secretariat – via the General Authority for River Transport – documents stating the former’s preliminary approval on the project’s site and requested from EGYTRANS obtaining other needed approvals from El Qalubeya governorate, where the port will be established. Egytrans River Ports Co. S.A.E. is in the process of obtaining the remaining needed approvals stated in the presidential decree in preparation for implementing its project.
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| 2010-08-24 |
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| EGYTRANS signs a contract with Qemmah Consulting & Information Technology Co.(a subsidiary of Orascom) to implement Oracle E-Business Suite and Oracle Transportation Management |
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| 2010-06-29 |
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| EGYTRANS receives an Award for Best Implementation of Responsible Business Practices for the year 2009 |
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| EGYTRANS won third place for Best Company in the Implementation of Responsible Business Practices for the year 2009 (in the area of Corporate Governance and the Corporate Social Responsibility). Ms. Rania Farouk received the award from Dr. Mahmoud Mohey El Din, Minister of Investment during the Fourth Annual Corporate Governance Conference, held on Tuesday, June 22nd, 2010 and organized by the Egyptian Institute of Directors. |
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| 2010-05-29 |
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| CI Capital Research prepared a technical and financial analysis of the EGYTRANS share |
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| CI Capital Research, an affiliate of the Commercial International Bank (CIB) Group , prepared a technical and financial analysis of the EGYTRANS share.
To view the report , please follow the
link |
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| 2010-05-11 |
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| The Egyptian Transport & Commercial Services Co., (Egytrans) has issued its audited results for the first quarter in 2010 |
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| The Egyptian Transport & Commercial Services Co., (Egytrans) has issued its audited results for the first quarter in 2010 as follows: --
• Revenues for the period from 1/1-31/3/2010 has reached LE 4.913.858 compared to LE 6.204.261 for the same period of 2009 , with a decrease of LE 1.290.403 or 20.8 % .
• Revenues before deducting interest, taxes. Depreciation and amortization "EBITDA" for the period from 1 / 1 - 31/3/2010 has reached LE 3.270.272 compared to LE 4.013.332 for the same period of 2009, with a decrease of LE 743.060 or 18.5 %.
• The company's net profit during the period until 31/3/2010 has reached LE 2.447.932 compared to LE 3.148.767 for the same period of 2009.
• Return on the share reached at the end of March 2010 LE 0.34 compared with LE 0.49 per share for the same period of 2009.
Forwarding & Logistics services Activity
The company is listed in Cairo & Alex Stock Exchange Inclusion in the Financial Market
Authorized Capital 100 Million Egyptian Pounds
Issued & Subscribed Capital 56.062.500 Egyptian Pounds distributed to 5.606.250 shares with a nominal value of LE 10 Capital
1- Mr. Hussam Wael Leheta 9.09 %
2- Mrs. Soad Hamed Salam 6.45 %
3- Dr. Amany Wael Leheta 6.12 %
4- Dr. Eng. Heba Wael Leheta 6.08 %
5- Eng. Abir Wael Leheta 7.31 %
6- National Investment Bank 24.00 %
7- Others 40.95 % Shareholder Structure
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| 2010-05-11 |
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| The Egyptian Transport & Commercial Services Co., (Egytrans) declared the audited results for the Consolidated period from 1/1 – 31/03/2010 |
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| The Egyptian Transport & Commercial Services Co., (Egytrans) declared the audited results for the Consolidated period from 1/1 – 31/03/2010 as follows: --
• Turn Over
Turnover has reached LE 34.519.369 during the period from 1/1-31/03/2010 compared to LE 55.146.583 for the same period of 2009 , with a decrease of LE 20.627.214 or 37.4% .
• Gross Profit
Gross Profit for the period from 1 / 1 - 31/03/2010 has reached LE 5.362.433 compared to LE 7.315.539 for the same period of 2009, with a decrease of LE 1.953.106 , or 26.7 % .
• Net profit (After Tax deduction )
The company's net profit during the period until 31/03/2010 has reached LE 2.549.570 , with a decrease of L.E 1.317.133 or 34 % , compared to LE 3.866.703 for the same period of 2009 .
• Related Party Transactions
Total transactions with the Egyptian Transport & Logistics Co. (ETAL) has reached L.E 265.000 during the period from 1/1-31/03/2010.
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| 2010-04-20 |
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| EGYTRANS announces distribution of Dividend Coupon No. 5 for shareholders |
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| EGYTRANS announces distribution of Dividend Coupon No. 5 for shareholders as of the closing of the trading session on 21/4/2010 equivalent to EGP 2 per share to be distributed in two installments, the first beginning on 27/4/ 2010 at a value of EGP 1 per share and the second beginning on 31/10/2010 at a value of EGP 1 per share through Misr for Central Clearing, Depository and Registry. The coupon may be collected from the following banks: |
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| 2010-04-20 |
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| EGYTRANS sells 25% of Global Depot Solutions Co. stock to Oversight Enterprises LTD OEL at the book value of $10 |
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| The establishment of Global Depot Solutions Co., a subsidiary of EGYTRANS, has been completed and an agreement was reached between EGYTRANS and Oversight Enterprises LTD OEL to sell 25% of Global Depot Solutions Co. stock to Oversight Enterprises LTD OEL at the share book value of $10. Shares were sold at book value due to the fact that Oversight Enterprises LTD OEL has extensive experience in this field and will provide technical assistance and marketing support for the project abroad. The agreement has been implemented and EGYTRANS now owns 74.997% of Global Depot Solutions shares. |
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| 2010-04-18 |
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| EGYTRANS’ Success Story included in IFC’s report on Corporate Governance in the MENA region |
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| The IFC published a report on Corporate Governance Success Stories in the MENA region. The purpose of the report is to demonstrate the business case for good corporate governance. It shares the experiences of 11 companies that have made governance improvements over the past few years, summarizing the changes they made and the impacts they reported. EGYTRANS was chosen as one of the success stories in the report (pages 28-30).
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| 2010-04-07 |
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| Second stage of capital increase subscription completed |
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| In light of the results of the first stage of the company’s capital increase subscription, the EGYTRANS Board of Directors invited existing shareholders holding shares at the end of the trading session on 3/2/2010 to participate in the second stage of the subscription for the remaining 153,304 shares unlimited by the original percentage of shares owned. |
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| 2010-04-07 |
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| Distribution of dividends approved for the year ending in 31/12/2009 |
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| During the meeting held on 31/3/2010, the Ordinary General Assembly approved the distribution of profits as follows:
- Shareholder dividend of EGP 2.00 per share at a total value of EGP 11,212,500
- Board of Director bonus at a total value of 252,281
- Employees� share of distributed profits at a total value of 1,271,630
Total = EGP 12,736,411
The remaining net profit for the year amounting to EGP 6,827,011 will be retained.
The distribution of cash profits will take place as follows:
- Shareholder dividends will be distributed in two stages: 50% after the General Assembly meeting and 50% on 31/10/2010.
- The Board of Director bonus will be distributed in two stages: 50% after the General Assembly meeting and 50% on 31/10/2010.
- The Board of Directors is authorized to determine the method and timing for the distribution of the employees� share.
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| 2010-03-16 |
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| 1st Phase of EGYTRANS Capital Increase Subscription Ends Successfully |
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| On Sunday 10/2/2010, the Egyptian Company for Transport and Commercial Services (EGYTRANS) invited current shareholders and owners of shares purchased before the end of the trading session on 3/2/2010 to participate in the first phase of the company’s capital increase by a proportion of 1.784 new shares for each existing share at a value of EGP 10.25 per share (EGP 10 book value in addition to EGP 0.25 in issuance fees per share).
The subscription period lasted thirty days ending on 14/3/2010 and the results were as follows:
1 - 9,846,696 common shares were offered at the book value of EGP 98,466,960 in addition to EGP 2,461,674 in issuance fees.
2 - Total amount of the capital increase covered was EGP 100,928,634. The percentage covered in the first phase was 98.47%. 153,304 shares were not covered, amounting to 1.53%.
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| 2010-03-08 |
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| EGYTRANS announced results for the financial year ending in 31/12/2009: |
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| • Total Sales (Turnover) for the period from 1/1 - 31/12/2009 reached EGP 199,650,483 compared to EGP 194,174,579 for the same period of 2008, with an increase of EGP 5,475,904 or 2.8%.
• Gross Profit for the period from 1/1 - 31/12/2009 reached EGP 23,239,264 compared to EGP 19,793,837, with an increase of EGP 3,445,427 or 17.4%.
• Net profit for 2009 reached EGP 9,872,767 compared to EGP 10,593,884 for 2008.
• Earnings per share reached EGP 1.37 for 2009 compared to EGP 1.65 in 2008.
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| 2010-03-08 |
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| The EGYTRANS Board of Directors announced the Consolidated Financial Statements for the period ending in 31/12/2009 |
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| The EGYTRANS Board of Directors announced the Consolidated Financial Statements for the period ending in 31/12/2009 as follows:
• Total Sales (Turnover) for the period from 1/1 – 31/12/2009 reached EGP 201,456,854 compared to EGP 195,540,503 for the same period of the previous year, with an increase of EGP 5,916,351 or 3%.
• Gross Profit for the period from 1/1 – 31/12/2009 reached EGP 29,978,232 compared to EGP 21,155,061 for the same period of 2008, with an increase of EGP 5,823,171 or 27.5%.
• Net Profit (after taxes) reached EGP 11,462,989 compared to EGP 10,998,568 for the same period of 2008 with an increase of EGP 464,421 or 4.2%.
• Related Party Transactions: total transactions with EGYTRANS’ sister company ETAL reached EGP 2,374,994 in 2009.
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| 2010-01-20 |
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| Existing Shareholders Are Invited to Participate in EGYTRANS Capital Increase |
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| EGYTRANS announced an increase in paid capital of EGP 100 million from EGP 56,062,500 to EGP 156,062,500 divided into 10 million shares at the book value of EGP 10 per share in addition to EGP 0.25 in expenses per share. The increase will be open to existing shareholders for a period of 30 days beginning 10/2/2010.For more details click here |
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| 2010-01-17 |
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| EGYTRANS Board approves 2010 Budget |
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| In its meeting on Thursday 14/1/2010, the EGYTRANS Board of Directors approved the budget for 2010. Key financial figures are as follows: Gross Profit is expected to reach EGP 30,529,000, Operating Profit (EBITDA) is expected to reach EGP 14,529,000, Net Profit is expected to reach EGP 13,556,000 and Earnings per share are expected to reach EGP 2.42. |
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| 2009-12-07 |
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| Decisions of the Extraordinary General Assembly Meeting of the Shareholders of the Egyptian Transport & Commercial Services Company, S.A.E. (EGYTRANS) held on |
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| The Extraordinary General Assembly held on Sunday December 6, 2009 at 11 am in Helnan Port Said Hotel (Blues Hall) decided the following:
1. Increasing the company's authorized capital from EGP 100 million to EGP 1 billion
2. Increasing the company's issued capital from EGP 56,062,500 to EGP 256,062,500
3. Increasing the company's paid-in capital from EGP 56,062,500 to EGP 256,062,500 by inviting existing shareholders to subscribe in the issue of 20 million shares at the par value of EGP 10 in addition to EGP 0.25 in issuance fees.
4. Amending Clauses 7 & 8 of the company's charter
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| 2009-11-22 |
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| EGYTRANS Extraordinary General Assembly |
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| Company shareholders are invited to attend an Extraordinary General Assembly on Sunday December 6, 2009 at 11 am in Helnan Port Said Hotel (Blues Hall) with the following agenda:
1. Increasing the company's authorized capital from EGP 100 million to EGP 1 billion
2. Increasing the company's issued capital from EGP 56,062,500 to EGP 256,062,500
3. Increasing the company's paid-in capital from EGP 56,062,500 to EGP 256,062,500 by inviting existing shareholders to subscribe in the issue of 20 million shares at the par value of EGP 10 in addition to EGP 0.25 in issuance fees.
4. Amending Clauses 7 & 8 of the company's charter.
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| 2009-11-02 |
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| EGYTRANS Board of Directors decides not to renew Term Sheet Agreement with Beltone Capital |
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| The EGYTRANS Board of Directors decided not to renew the Term Sheet agreement between the company and Beltone Capital Holding for Financial Investment S.A.E. that was signed and disclosed to the EGX on July 29, 2009 and expired on October 27, 2009. The board confirmed that implementation procedures for the following projects and companies are continuing as planned:
1. EGYTRANS River Ports Co.
2. EGYTRANS Barge Link Co.
3. Global Depot Solutions Co.
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| 2009-11-02 |
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| EGYTRANS announces financial results for the period from 1/1 - 30/9/2009 |
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| The Egyptian Transport & Commercial Services Co., (Egytrans) announced the financial results for the period from 1/1 - 30/9/2009 as follows:
• Gross Profit for the period from 1/1-30/9/2009 reached LE 20,985,062 compared to the same period in 2008 reaching LE 16,474,099 with an increase of LE 4.510.963 or 27.3%
• Operating Profit (EBITDA) for the period from 1/1 - 30/9/2009 reached LE 10,778,087 compared to LE 7,123,774 for the same period in 2008 with an increase of LE 3,654,313 or 51.2%.
• The company's net profit increased by LE 5,462,906 with an increase of 102.9% compared to the same period in 2008, as the company's net profit during the period ending 30/9/2009 reached LE 10,769,165 compared to LE 5,306,259 during the same period of 2008.
• Return on equity increased by LE 0.97 as it reached at the end of September 2009 LE 1.92 compared to LE 0.95 per share during the same period of 2008
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| 2009-09-16 |
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| Construction work begins for Global Depot Solutions Company |
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| As part of the preparations for beginning the activities of Global Depot Solutions, a member of the EGYTRANS group of companies, and due to the completion of the civil and architectural designs for the company’s first work site, construction work for the company’s operational and administrative buildings has begun, starting with leveling the land at the company’s work site at Kilo 25 on the Alexandria-Cairo Desert Road. All work is being done according to the approved technical, operational and environmental specifications and in compliance with safety and security principles and standards. |
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| 2009-08-26 |
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| EGYTRANS joins the UN Global Compact |
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| On Tuesday, August 25, 2009 the Egyptian Company for Transport and Commercial Services (EGYTRANS) joined the UN Global Compact. The compact constitutes a framework that allows committed companies to align their operations and strategies with ten globally accepted principles in the areas of human rights, labor, environment and fighting corruption. The Global Compact is considered the largest global initiative to create a sense of corporate citizenship - as thousands of people from more than 100 countries all over the world have joined it. |
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| 2009-08-02 |
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| EGYTRANS signs an MoU with the River Transport Authority and a Term Sheet with Beltone Capital |
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| On Wednesday, 29th of July 2009, EGYTRANS signed a Memorandum of Understanding (MoU) with the River Transport Authority giving EGYTRANS the right to establish a river port for handling containers and cargo in Cairo after obtaining the required licenses for construction and operation in light of the existing contract between the two parties in this concern. This will take place through a subsidiary of EGYTRANS.
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| 2009-07-30 |
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| EGYTRANS Signs Memorandum of Understanding with the River Transport Authority |
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| On Wednesday, 29th of July 2009, EGYTRANS signed a Memorandum of Understanding (MoU) with the River Transport Authority that gives EGYTRANS the right to establish a river port for handling containers and cargos in the Greater Cairo Area after obtaining the required licenses for construction and operation. This comes under the existing contracts between the two parties in this concern through one of EGYTRANS subsidiaries (EGYTRANS River Ports Company). |
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| 2009-07-30 |
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| EGYTRANS Signs Term Sheet with Beltone Capital Holding For Financial Investments S.A.E. |
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| On Wednesday 29th of July 2009, EGYTRANS signed a Term Sheet with Beltone Capital Holding for Financial Investments S.A.E. that regulates the initial agreement between the two parties concerning their partnership in an integrated river transport project with an initial capital of L.E 150,000,000. (Eng. Hussam Leheta, EGYTRANS Chairman & CEO and other related parties, being shareholders, signed a Term Sheet with Beltone Capital Holding for Financial Investments S.A.E. regarding the latter's contribution in EGYTRANS capital).
Note: EGYTRANS shares with 51% and has the management authority and Beltone Capital Holding for Financial Investments S.A.E. shares with 49% of the total capital L.E.150,000,000.
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| 2009-06-18 |
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| EGYTRANS receives Disclosure Award for the year 2008 |
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| EGYTRANS was awarded third place for Best Disclosure for the year 2008 in the Annual Disclosure Competition for the best annual report and website for EGX30 companies organized by the Egyptian Institute of Directors in cooperation with the Egyptian Stock Exchange and the Ministry of Investment. The competition was judged by a group of experts in the areas of corporate governance, accounting, auditing, finance and stock exchanges.
Hussam Leheta, EGYTRANS Chairman & CEO, received the award during the Third Annual International Conference on Disclosure held on Monday, June 15th, 2009.
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| 2009-06-14 |
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| EGYTRANS Board of Directors approved amending the authorized capital of Global Depot Solutions Co. |
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| In its meeting on Monday, June 8th , 2009 the EGYTRANS Board of Directors unanimously approved amending the authorized capital of Global Depot Solutions Co. to 1,000,000 USD and the issued capital to 100,000 USD divided over 10,000 shares with a book value of 10 USD/share. |
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| 2009-06-10 |
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| EGYTRANS Signs a Contract with Energya Steel Co. |
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| EGYTRANS signed a contract with Energya Steel Co. to transport steel structures and beams from the company factories to Algerian ports for the establishment of a cement factory in Algeria.
The total volume of the contract is about 120000 m³ to be exported in one year. The total value of the contract is about 5 Million USD.
This contract is very important for EGYTRANS as it will increase the company’s export and chartering activities in accordance with the company's strategies related to increasing the volume of various activities and gaining new customers of good repute with a large volume of business.
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| 2009-06-03 |
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| EGYTRANS appointed a Chief Commercial and Operations Officer |
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| Mr. Khaled Hussein Ramadan was appointed Chief Commercial and Operations Officer effective 1/6/2009.
For more information, click here to download the CV.
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| 2009-05-28 |
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| EGYTRANS Board of Directors approved the establishment of Global Depot Solutions Co. |
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| EGYTRANS Board of Directors approved the establishment of Global Depot Solutions Co.
In its meeting on Tuesday, May 26, 2009 the EGYTRANS Board of Directors unanimously approved the establishment of Global Depot Solutions Co. The company will be established with authorized capital of 2.5 million EGP and issued capital of 250,000 EGP divided over 2500 shares with a book value of 100 EGP/share.
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| 2009-05-16 |
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| EGYTRANS Board of Directors approved the establishment of Egytrans Barge Link Co. |
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| In its meeting on Tuesday, April 12, 2009 the EGYTRANS Board of Directors unanimously approved the establishment of Egytrans Barge Link Co. The purpose of the new company will be carrying out land, river, coastal and rail transport as well as handling all kinds and forms cargo. The company will be established with authorized capital for 2.5 million EGP and issued capital of 250000 EGP divided into 2500 shares with a book value of 100 EGP/share. |
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| 2009-05-12 |
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| The Egyptian Transport & Commercial Services Co. S.A.E (EGYTRANS) signed a contract with El Swedy Cement Company |
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| The Egyptian Transport & Commercial Services Co. S.A.E (EGYTRANS) signed a contract with El Swedy Cement Company on 30/4/2009 to provide transport services for a cement project in Ain El-Sokhna. The total value of the contract is 3,500,000 EGP and the project begins in May 2009 and will continue for one year. |
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| 2009-04-02 |
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| EGYTRANS Board of Directors approved the establishment of EGYTRANS River Ports Company |
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| In its meeting on Wednesday, April 1st, 2009 the EGYTRANS Board of Directors unanimously approved the establishment of EGYTRANS River Ports Company. The purpose of the new company will be the management, operation, exploitation and development of river ports, quays and container terminals in addition to providing all services related to the stevedoring and storage of all kinds of cargo, and container maintenance and transport. The company will be established with authorized capital for 2.5 million EGP and issued capital of 250000 EGP divided into 2500 shares with a book value of 100 EGP/share |
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| 2009-03-30 |
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| New Member joins the EGYTRANS Board of Directors |
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| On 22/2/2009, the EGYTRANS Board of Directors appointed Dr. Mohga Badran, Professor and Chairman of the Management Department at the American University in Cairo as an independent board member. The General Assembly approved the decision on 7/3/2009. The EGYTRANS Board of Directors now consists of 3 executive members, 2 non-executive members and 2 independent members. |
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| 2009-03-30 |
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| Egytrans wins the GTM/EGX 2009 Best Corporate Governance Award |
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| On 26/3/2009, the Egyptian Exchange and the Global Trade Matters Strategic Advisory Board granted EGYTRANS the Best Corporate Governance Award for 2009. This is considered one of the most important business awards in Egypt. A group of local and international experts representing various sectors and specializations select the best companies among those in the EGX30 Index. |
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| 2009-02-19 |
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| Financial Results for the Year Ending in 31/12/2008 are disclosed |
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| Egytrans continued its growth in 2008 compared to 2007. The company's revenues increased by 12.2% and earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 5.14%. Earnings per share reached L.E. 2.00. |
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| 2009-02-19 |
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| Disclosure of Consolidated Financial Results for 2008 |
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| The Board of Directors of the Egyptian Transport & Commercial Services Co. (EGYTRANS) disclosed the results of the Consolidated Financial Statements for the period from 1/1 - 31/12/2008 |
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| 2009-01-28 |
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| The Egyptian Stock Exchange announced on 26/1/2009 that the Egyptian Transport & Commercial Services Co. S.A.E. (EGYTRANS) will be included among the companies that make up the CASE30 Index |
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| The Egyptian Stock Exchange announced on 26/1/2009 that the Egyptian Transport & Commercial Services Co. S.A.E. (EGYTRANS) will be included among the companies that make up the CASE30 Index starting from Sunday 1/2/2009.
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