CI Capital Holding reports its Q1 2019 consolidated results

Net Profit Reached EGP 115.5 million, Growing 41% Year-on-Year

Cairo:

CI Capital Holding (Ticker: CICH.CA), Egypt’s leading diversified financial services group, announced today its consolidated financial results for the first quarter period ended 31^st of March, 2019.

Q1 2019 Consolidated Financial and Operational Highlights

• Total revenues recorded EGP 728.6 million, up 34% year-on-year (y-o-y)
• Net operating profit reached EGP 189.2 million, up 32% y-o-y
• Net profit before tax of EGP 172.1 million, up 35% y-o-y
• Net profit after tax and minority interest of EGP 115.5 million, up 41% y-o-y
  • Revenue from leasing activities up 48.2% y-o-y to reach EGP 527.5 million with a total outstanding leasing portfolio of EGP 7.0 billion at the end of Q1 2019, a y-o-y growth of 71%
  • Microfinance revenue and net profit up 24.2% and 39.0% y-o-y to reach EGP 80.5 million and EGP 29.2 million respectively. Total microfinance loans outstanding of EGP 629.6 million at the end of Q1 2019
  • Assets under management (AUMs) reached EGP 9.0 billion, up 10.9% y-o-y
  • Brokerage market share reached 8.5%¹ in Q1 2019, ranking 2^nd among all brokerage houses
  • Investment banking advisory fees increased 9.4% y-o-y to record EGP 26.6 million

Commenting on the Q1 2019 performance, Chairman & Group CEO, Mahmoud Attalla stated:

“We are pleased to announce today our first quarter 2019 results which serve as testament to the group’s evolving business strategy and diversified revenue streams. During the first quarter of 2019, we achieved our highest ever revenues generated in a single quarter to record EGP 728.6 million, up 34% y-o-y coupled with net profit after tax and minority interest growing 41% year on year to reach EGP 115.5 million.

Growth in our financing business continues to be the main contributor to a record start in 2019. Our financing portfolio² have reached EGP 8.4 billion in Q1 2019, growing a remarkable 66% year on year. We are particularly pleased with a very strong quarter for our leasing business in which new lease bookings were more than 4.4 times those achieved in the comparative quarter of 2018. Despite subdued trading volumes in the EGX, the investment bank continued to deliver strong results as well and the group managed to increase net profit from the investment bank by 34% year on year to reach EGP 34.1 million.

Our performance in the first quarter of 2019 gives us confidence in our ability to deliver on our full year targets especially with the continuation of macro reforms and further easing of monetary policy expected to take place later in the year.”

-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 

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 the prices of energy, raw materials or 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 dairy 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 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