CI Capital Holding for Financial Investments Reports its 9M 2019 Consolidated Results

• Net Profit Reached EGP 337.7 million, Growing 27% Year-on-Year

Cairo: CI Capital Holding for Financial Investments (Ticker: CICH.CA), Egypt’s leading diversified financial services group, announced today its consolidated financial results for the 9-month period ending 30^th of September, 2019.

9M 2019 Consolidated Financial and Operational Highlights¹

• Total revenues recorded EGP 1.8 billion, up 31.2% year-on-year (y-o-y)
• Net operating profit reached EGP 538.8 million, up 20.8% y-o-y
• Net profit before tax of EGP 493.7 million, up 20.5% y-o-y
• Net profit after tax and minority interest of EGP 337.7 million, up 27.3% y-o-y
  • Revenue from leasing activities up 58.2% y-o-y to reach EGP 1.2 Billion with a total outstanding leasing portfolio of EGP 8.7 billion at the end of 9M 2019, a y-o-y growth of 61.1%
  • Micro-finance revenues and net profit up 12.1% and 8.1% y-o-y to reach EGP 248.5 million and EGP 84.2 million respectively. Total microfinance loans outstanding reached EGP 656.4 million at the end of 9M 2019
  • Assets under management (AUMs) reached EGP 9.3 billion, up 14.3% y-o-y
  • Brokerage market share reached 10.2%² in 9M 2019, ranking 2^nd among all brokerage houses
  • Investment banking advisory revenues recorded EGP 68.0 million

Commenting on the 9M 2019 performance, Chairman & Group CEO, Mahmoud Attalla stated:

“We are pleased to announce our results for the third quarter of 2019, witnessing strong growth in both of our financing and investment banking platforms. Our results continue to reflect the underlying strength of CI Capital’s ability to generate resilient and recurring revenue streams by not only investing in and growing existing businesses, but also by expanding into new business lines such as merchant banking, consumer finance, and mortgage finance.

The group continued the growth trajectory in the financing business³ portfolio, increasing 53% y-o-y to reach EGP 10.0 billion in September 2019. This, coupled with solid performance from the group’s investment banking platform, translated to solid revenue growth of 31% year on year to reach EGP 1.8 billion and bottom-line growth of 27% year on year to reach EGP 337.7 million.

We expect that for the remainder of this year and next year both fiscal and monetary stimuluses that have been implemented recently by the government and the Central Bank of Egypt will further support the Group’s growth initiatives and provide a more favorable environment for our business. “

-Ends- 

For investor relations related questions, please contact:
Tarek Tantawy, Managing Director & Group Deputy CEO
Ahmed Kamel, Financial Planning & IR Senior Manager
Adam Hammad, Investor Relations Analyst
investor.relations@cicapital.com 

About CI Capital Holding for Financial Investments

CI Capital Holding for Financial Investments is a diversified financial services group and Egypt’s leading provider of leasing, microfinance, and investment banking products and services.

Through its headquarters in Cairo and presence in New York and Dubai, CI Capital Holding for Financial Investments offers a wide range of financial solutions to a diversified client base that includes global and regional institutions and family offices, large corporates, SMEs, and high net worth and individual investors.

CI Capital Holding for Financial Investments leverages its full-fledged investment banking platform to provide market leading capital raising and M&A advisory, asset management, securities brokerage, custody and research. Through its subsidiary Corplease, CI Capital offers comprehensive leasing solutions, including finance and operating leases, and sale and leaseback, serving a wide range of corporate clients and SMEs. In addition, CI Capital Holding for Financial Investments offers microfinance lending through Egypt’s first licensed MFI, Reefy.

The Group has over 1,800 employees, led by a team of professionals who are among the most experienced in the industry, with complementary backgrounds and skill sets and a deep understanding of local market dynamics.

Important Notice

This announcement contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of words and phrases like “according to estimates”, “anticipates”, “assumes”, “believes”, “could”, “estimates”, “expects”, “intends”, “is of the opinion”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “to the knowledge of”, “will”, “would”, “annualized” or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding the Company’s business and management, the Group’s future growth or profitability and general economic and regulatory conditions and other matters affecting the Group.

Forward-looking statements reflect the current views of management of future events and are based on management’s assumptions and involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause the actual financial condition and results of operations of the Group to differ materially from, or fail to meet expectations expressed or implied by, those forward-looking statements. The Company’s business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to become inaccurate. These risks include fluctuations in employee costs required by the operations of the Group, its ability to retain the services of certain key employees, its ability to compete successfully, changes in political, social, legal or economic conditions in Egypt, worldwide economic trends, global and regional trends in the industry, the impact of war and terrorist activity, inflation, interest rate and exchange rate fluctuations and the ability of management to identify accurately and in a timely manner future risks to the business of the Group and manage the risks mentioned above. Accordingly, investors should not rely on the forward-looking statements in this announcement. None of the Group, its management or CI Capital Holding for Financial Investments gives any assurance regarding the future accuracy of the opinions set forth in this announcement or as to the actual occurrence of any predicted developments. After the date of this announcement, none of the Group or its management assumes, and each of the Group and its management expressly disclaim, any obligation, except as required by law and the listing rules of the EGX, to update any forward-looking.

© Press Release 2019