e-finance for Digital and Financial Investments posted consolidated net profits after tax attributable to the shareholders worth EGP 803.92 million in 2022, an annual jump of 54.70% from EGP 519.73 million, including non-controlling equity.

The basic earnings per share (EPS) stood at EGP 0.40 in the 12-month period that ended on 31 December 2022, higher than EGP 0.32 a year earlier, according to the income statements.

Revenues enlarged by 34.70% to EGP 2.64 billion in 2022 from EGP 1.96 billion in 2021, whereas the total assets grew to EGP 5.93 billion from EGP 5.04 billion.

Consolidated Financial Results for Q4

During the fourth quarter (Q4) of 2022, e-finance recorded a 12.80% year-on-year (YoY) drop in net profit after tax to EGP 121.50 million from EGP 139.30 million.

Meanwhile, the total consolidated revenues increased by 6.40% to EGP 706.20 million in Q4-22 from EGP 663.70 million in Q4-21.

Standalone Income Statements

The financial company generated EGP 496.66 million in standalone net profit after tax in 2022, an annual surge from EGP 211.26 million.

Non-consolidated revenues soared to EGP 547.90 million last year from EGP 327.59 million in 2021, whereas the EPS widened to EGP 0.22 from EGP 0.11

Total standalone assets hit EGP 4.31 billion as of 31 December 2022, versus EGP 3.73 billion a year earlier.

Ibrahim Sarhan, Chairman of e-finance, indicated: “The past year has seen challenging macroeconomic conditions and headwinds that not only hindered the Egyptian market but impacted regional and global economies as a whole in 2022.

Sarhan added: “Over and above the global supply chain constraints and inflationary pressures that resulted from the Russia-Ukraine conflict, Egypt witnessed increased inflationary and FX pressure due to the devaluation of its local currency over the course of the year.”

“Despite the significant impact these factors had on economies and operating environments, the group delivered a strong performance in 2022,” he said.

Dividends

The company’s board greenlighted on 20 February 2023 a cash dividend of EGP 0.23 per share for 2022, which is yet to be presented to the shareholders’ coming meeting.

In the first nine months (9M) of 2022, the EGX-listed firm achieved consolidated net profits worth EGP 691.57 million, higher by 84.50% YoY than EGP 374.82 million, including minority interest.

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).