Cairo, 28 May 2013: Arab Moltaqa Investments Company (AMIC) (Ticker: AMIA.CA) today announced its consolidated financial results for the first quarter ending 31 March 2013. Financial Statements have been prepared in accordance with the Egyptian Accounting Standards.

Highlights for the First Quarter 2013 include:

  • Total Consolidated Revenues were EGP 95.57 million up from EGP 11.17 million for the same period in 2012, an increase of 755%.

  • Consolidated Gross Profits were EGP 14.74 million up from EGP 4.77 million for the same period in 2012, an increase of 209%.

  • Consolidated Operating Profits were EGP 8.39 million up from EGP 5.25 million for the same period in 2012, an increase of 60%.

  • Consolidated Profit Before Taxes and Minority Interest was EGP 9.97 million up from EGP 6.30 million for the same period in 2012, an increase of 58%.

  • Consolidated Net Profit was EGP 6.21 million up from EGP 4.83 million for the same period in 2012, an increase of 29%.

Managing Director's Statement:
Commenting on the Consolidated First Quarter Results of 2013, KhaledAbouHeif, Managing Director of AMIC, said:

"Despite the continued economic malaise and the slowdown of the Egyptian economy, AMIC has witnessed a surgeinits bottom lineduring the First Quarterof 2013.

"In this context, explained AbouHeif that Total Consolidated Revenues for the First Quarter of 2013 reached EGP 95.6 million, an increase of EGP 84.4 million, when compared to the same period in 2012. Total Consolidated Revenues for the First Quarter of 2012 reached EGP 11.2 million. Thereasonforthisupsurgeis dueto the increase of AMIC's share in A.T. Lease, our financial leasing arm, from 10% to90% afterthe acquisitionthat took placein2012througha share swap, whereRevenues of LeasingContracts of A.T. Lease reached EGP 84.8million,andotherLeasingRevenuesreached EGP 1.1million. Another main item that affected our consolidated revenues is Sales from Arab Engineering Industries, our 50.67% subsidiary, reached EGP 9.5 million in the first quarter of 2013, versus EGP 8.9 million in the same period in 2012, an increase of 6%. 

"AMIC's Consolidated Operational Expenses reached EGP 80.8 million in the First Quarter of 2013, an increase of EGP 74.4 million, when compared to the same period in 2012. Two major reasons for the increase in our consolidated operational expenses are the value of depreciatedleased fixedassets with an amount of EGP 44.4 million andfinancingexpenseswith an amount of EGP 29.1million.

"AMIC's Consolidated Gross Profits stood at EGP 14.7 millionfor the First Quarter of 2013, versus EGP 4.8 million for the same period in 2012, an increase of 209%.

"Consolidated Net Profit After Tax for the First Quarter of 2013 stood at EGP 6.2 million, versus EGP 4.8 million for the same period in 2012, an increase of 29%.

"It is noteworthy to mention that AMIC's Capital reached EGP 197.9millionin March 31st,2013, anincreaseof EGP 74.9million when compared with the same period in2012 wasEGP 123millionpounds. This increasecomesaftertheownership transferof15.9 millionofA.T. Lease's shares as a result of the 80% acquisitionvalued at EGP 308 million. The outcome of this share swap transaction, is the increase in AMIC's number of Shares reaching almost 19.8 million shares, as indicated in the table below where Bait Al-Tawfeek Development Company has almost 7.5 million shares.

AMIC's new shareholder structure is:



For Further Information:
Investor Relations Contacts
Raghda El-Zahhar
Investor RelationsManager
Tel: +202 25256050
Fax: +202 25256079
E-mail: ir@amic-eg.com

Within this statement, we may make forward-looking statements regarding future events or the future performance of the Company. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should be aware that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. When relying on forward-looking statements, you should carefully consider the political, economic, social and legal environment in which Arab Moltaqa Investment Company (AMIC) operates. Such forward-looking statements speak only as of the time of this release today. Accordingly, AMIC does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise other than as required by applicable laws, the Listing Rules or Prospectus Rules of the Egyptian Financial Supervisory Authority or the Egyptian Exchange. The documents filed from time to time with these authorities may identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements.             

© Press Release 2013