CHAIRMAN'S MESSAGE

Egypt Kuwait Holding continues to move forward despite the economic challenges facing Egypt and the region post Arab Spring. On the bright side, we are confident that the market is slowly recovering from the instability but has yet to return to its full potential.

As decision makers, we have to remain alert and act prudently by taking every precaution to safeguard our operations. Having the US dollar as the company’s functional currency hedges our operations against local currency depreciation risks. In terms of performance, we are especially proud that we have been able to continue growing our market share and increasing our revenues.

Our operations and our industry diversification have been key to our continued ability to grow and develop in the face of constant challenges. We are also continuing to uncover new potential for our operations, targeting growth in our downstream petrochemical footprint through our Sprea Misr expansions, for example, as well as growth prospects with Natenergy that are linked to the Egyptian government’s reforms and support for higher-value investments that will stimulate the economy.

I would like to express my deep appreciation and gratitude to the Board and all EKH colleagues for their continued support and steadfast commitment to the mission and objectives of Egypt Kuwait Holding. Despite the current challenges, we see a plethora of opportunity and are genuinely optimistic about the future as we continue to forge ahead.

Chairman of the Board and CEO
Moataz Al-Alfi