Ostool, a subsidiary of Raya Holding for Financial Investments, has revealed its ambitious plans to double its fleet size with fully-equipped vehicles with advanced technologies, including GPS and road monitoring systems. The prominent logistics services provider, which serves various industries, including mining, energy, glass manufacturing, cement, grains, building materials, and more, has announced that negotiations are currently underway to achieve this goal.
Tamer Badrawi, Ostool’s CEO, stated: “The company has successfully expanded its operations, establishing itself as the largest owner of natural gas trucks in Egypt. Ostool has also demonstrated impressive financial performance, as it achieved a business volume of 607 million Egyptian pounds last year and dominated the coal transport market to cement factories in the Egyptian market with a 70% share. Moreover, the company aims to expand in the Gulf region”.
“During the first half of 2023, Ostool continued its fruitful expansion, with activity revenues reaching around 566 million Egyptian pounds compared to approximately 317 million Egyptian pounds in the same period of 2022, marking a 79% y-o-y increase. The company’s gross profit for the first half of 2023 reached 118 million Egyptian pounds, compared to 53 million Egyptian pounds in the first half of 2022, showing a 1.23x increase y-o-y. The gross profit margin increased to 21%, compared to 17% in the same period in 2022. Additionally, net profit for the period amounted to 35 million Egyptian pounds, compared to 12 million Egyptian pounds in the first half of 2022,” he noted.
He added: “Ostool’s trucks adhere to the highest safety standards and utilize advanced technological systems to track and enhance their performance. The company is committed to employing highly qualified and professional drivers.”
“Ostool is also expanding its presence in the clean and renewable energy sector. The company has been utilizing natural gas-powered trucks to transport natural gas, petroleum materials, and their byproducts. Additionally, the company plans for 25% of its vehicles to operate on natural gas by the end of 2024 and aims to achieve a 100% natural gas transition by 2026,” the CEO continued.
He added: “Ostool is also engaged in the storage and unloading of cargo containers, now standing as one of the largest logistics companies in Egypt, trusted by numerous local and international firms.”
Badrawy concluded: “Ostool is diligently working towards achieving its strategic plans and future aspirations, aiming to continue providing services of the highest quality and safety to its customers in Egypt and the region.”
