Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments logged consolidated net profits attributable to the owners valued at EGP 283.05 million in the first half (H1) of 2023, an annual leap from EGP 52.30 million.
The operating revenues enlarged by 42.40% year-on-year (YoY) to EGP 1.44 billion in H1-23 from EGP 1.01 billion, according to the consolidated income statements.
Basic and diluted earnings per share (EPS) hiked to EGP 0.08 as of 30 June 2023 from EGP 0.02 a year earlier.
Standalone Business
Fawry generated EGP 273.95 million in standalone net profit after tax during the first six months (6M) of 2023, versus EGP 40.63 million in 6M-22.
Operating revenues jumped to EGP 985.75 million in H1-23 from EGP 662.79 million in the year-ago period.
Financials for Q2-23
In the second quarter (Q2) of 2023, the EGX-listed firm witnessed YoY higher consolidated net profits attributable to the owners at EGP 159.77 million, compared to EGP 24.14 million.
Moreover, the revenues climbed by 44.60% YoY to EGP 768.47 million in April-June 2023 from EGP 531.29 million.
As for the standalone business, the net profits after tax surged to EGP 133.86 million in Q2-23 from EGP 1.99 million during the same quarter in 2022.
Non-consolidated revenues widened to EGP 526 million in the three-month period that ended on 30 June 2023 from EGP 345.10 million a year earlier.
Ashraf Sabry, CEO of Fawry, commented: “Our four main business segments continued their growth trajectory, with the banking services segment expanding well beyond the rest to contribute 52.30% of revenue growth for the period.”
“In June, the company reached a new milestone by managing to process 5 million transactions a day, cementing Fawry’s operational and technical strength,” Sabry added.
The CEO noted: “There has also been a remarkable expansion of our mobile wallet transactions and mobile wallet throughput value, recording 67.60 million transactions and EGP 80.50 million during the six-month period, a rise of 73.90% and 107.70% YoY, respectively.”
In the Janaury-March 2023 period, the consolidated net profits after tax enlarged to EGP 142.05 million from EGP 47.83 million a year earlier, including minority interest.
