Sharm Dreams released its 2025 earnings into a tourism-friendly market, while the EGX 30 rose 0.79% to 52,375.4. But with USD/EGP up 1.65% to 52.57 and Brent at $105.69, local gains still need to be read through the lens of currency pressure and energy costs.
|6 min read
The most important signal from the Egyptian stock exchange today was not just the EGX 30 index closing up 0.79% at 52,375.4 on Thursday, April 23, 2026. It was also the timing of Sharm Dreams Co. for Tourism Investment releasing its full-year 2025 earnings into a market where tourism demand remains supportive, even as the USD/EGP climbed another 1.65% to 52.57 and Brent crude jumped 3.7% on the day to $105.69 a barrel.
That mix matters for any serious Egypt stock market analysis. Tourism-facing companies can benefit from stronger visitor flows and a weaker currency that improves Egypt’s price competitiveness in foreign-currency terms. But the same currency weakness raises imported costs, while higher oil prices feed into transport, utilities and operating expenses. In other words, local equity gains need to be read alongside the exchange rate and commodity backdrop, not in isolation.
Key figures
- EGX 30: 52,375.4, up 0.79%
- USD/EGP: 52.57, up 1.65% on the day
- Brent crude: $105.69/bbl, up 3.7% on the day and 10.7% on the week
Market context: EGX today rose, but currency pressure still shapes the story
The EGX today session ended with 21 stocks up, 16 down and 7 unchanged, a constructive breadth reading without being a full-market surge. The benchmark was helped by selected real estate, tourism and industrial names rather than a broad-based rally. Among the day’s notable gainers, Emaar Misr for Development added 4.4% to EGP 10.34, while Orascom Construction climbed 4.3% to EGP 600.0.
Turnover data also showed where money was rotating. QALA led activity with EGP 1.79 billion in traded value, followed by Talaat Moustafa Group Holding at EGP 837.9 million, Palm Hills at EGP 525.0 million, Emaar Misr at EGP 503.2 million, and Misr Fertilizer Production at EGP 490.4 million. That pattern suggests investors are still favoring names tied to hard assets, pricing power or nominal growth resilience.
Still, Egypt’s equity tape cannot be read in local currency alone. A 0.79% rise in the benchmark is less impressive when the pound weakens 1.65% against the dollar on the same day. That has been a defining issue for Cairo equities since the multiple devaluations of 2022-2024, and it remains central in 2026. For foreign investors or local investors benchmarking in hard currency, part of the nominal stock gain is immediately offset by FX erosion.
Sharm Dreams 2025 earnings: tourism demand is supportive, but margins are the real test
The day’s key earnings event came from Sharm Dreams Co. for Tourism Investment (SDTI.CA), which reported results for the year ended December 31, 2025, alongside board decisions. The session data provided here does not include the company’s detailed revenue, EBITDA or net profit figures, so it would be inaccurate to invent a numerical breakdown. What can be said with confidence is that the release matters because it lands at a time when Egypt’s tourism theme is regaining traction and listed destination-linked names are responding.
That broader backdrop was visible in the market. Egyptian Resorts Company advanced 5.6% to EGP 14.25, extending momentum already highlighted in Bourse du Caire — EGTS flambe de 20% à 13,03 EGP malgré un EGX 30 en baisse de 1,07%. The market’s logic is straightforward: companies exposed to resort destinations, tourism real estate and leisure spending can benefit from stronger inbound demand and from a weaker pound that makes Egypt cheaper for foreign visitors.
The real question for Sharm Dreams in 2026 is not only top-line growth but margin conversion. Brent at $105.69 a barrel raises the risk that energy, transport and logistics costs eat into operating leverage. Hotels and tourism assets are energy-intensive businesses, especially in resort markets where cooling, maintenance and guest transport are meaningful cost lines. Add a USD/EGP rate of 52.57, and any imported equipment, spare parts or dollar-linked service contracts become more expensive. That is why investors will focus less on headline revenue growth alone and more on whether management can protect profitability.
Supporting stories: real estate and industrials stayed firm, but losers show selective risk appetite
Beyond tourism, the session reinforced the market’s preference for inflation-linked or asset-backed stories. General Company for Ceramic & Porcelain surged 13.8% to EGP 20.15, Emaar Misr rose 4.4%, and Orascom Construction gained 4.3%. These moves fit a broader macro pattern: in a high-inflation, weaker-currency environment, investors often gravitate toward companies with tangible assets, repricing ability or exposure to construction and infrastructure demand.
On the other side of the tape, several names fell despite the benchmark’s advance. Palm Hills dropped 2.6% to EGP 11.2, Heliopolis for Housing & Development lost 2.9% to EGP 5.97, Cleopatra Hospitals fell 1.4% to EGP 12.88, and Credit Agricole Egypt declined 1.9% to EGP 24.14. That divergence matters. It shows the market is not rewarding all domestic exposure equally; it is differentiating between companies that can pass through inflation and those facing tighter margins, financing pressure or weaker demand elasticity.
Official disclosures added to the sense of a busy, selective market. Alongside Sharm Dreams, Concrete Fashion Group released its 2025 financial results and standalone accounts, while Palm Hills disclosed treasury stock purchases. The listing committee also issued decisions involving Remco for Touristic Villages Construction, Premium Healthcare Group, Arab Cotton Ginning and Golden Pyramids Plaza. Based on EGX disclosures, the pipeline of corporate actions remains active even as macro conditions stay demanding.
Why tourism is holding up better than some domestic sectors
Tourism has one structural advantage in Egypt that many purely domestic sectors do not: a meaningful share of demand is either foreign-currency linked or driven by overseas visitors. When the pound weakens to 52.57 per dollar, local-currency revenue can rise mechanically if visitor volumes hold up. That makes companies such as Sharm Dreams and Egyptian Resorts especially sensitive to occupancy, arrivals and destination demand rather than only to Egyptian household spending.
But resilience is not immunity. The oil shock tied to tensions around the Strait of Hormuz, highlighted in global headlines, can push up airline costs, transfers and energy bills across the tourism chain. If Brent stays above $100, operating costs for tourism operators may rise faster than expected. At the same time, a stronger dollar raises the cost of imported fittings, maintenance inputs and service contracts. So the sector’s earnings story remains a balance between stronger demand and cost discipline.
Outlook: what to watch after the April 23 earnings flow
The next catalysts for the Cairo stock market are likely to come from more detailed Q1 2026 earnings releases and management commentary on margins, especially in tourism, real estate and industrials. The path of USD/EGP, now at 52.57, will remain critical, as will the impact of $105.69 Brent on listed companies’ cost bases. Investors will also track the Central Bank of Egypt’s next policy decisions closely, because rates affect funding costs, bank valuations and the real hard-currency interpretation of gains in the EGX 30 index.
