Cairo – Mubasher: The net profits attributable to the owners of e-finance for Digital and Financial Investments reached EGP 1.14 billion in the first nine months (9M) of 2023, an annual hike from EGP 682.45 million.
Revenues enlarged by 42.70% to EGP 2.76 billion in 9M-23 from EGP 1.93 billion in 9M-22, according to the consolidated financial statements.
The basic earnings per share (EPS) stood at EGP 0.56 in January-September 2023, up year-on-year (YoY) from EGP 0.30.
Total assets hit EGP 6.57 billion in 9M-23, versus EGP 5.93 billion as of 31 December 2022.
Standalone Business
e-finance generated EGP 824.74 million in standalone net profits after tax during 9M-23, compared to EGP 536.38 million in the year-ago period.
The non-consolidated revenues widened to EGP 799.65 million as of 30 September 2023 from EGP 540.44 million in 9M-22, while the basic EPS jumped to EGP 0.38 from EGP 0.25
Financials for Q3-23
During the third quarter (Q3) of 2023, the EGX-listed firm witnessed YoY higher consolidated net profits attributable to the shareholder at EGP 428.99 million, compared to EGP 202.78 million.
The revenues hiked by 52.30% to EGP 1.02 billion in Q3-23 from EGP 675.83 million in Q3-22.
Non-consolidated net profits after tax soared to EGP 434.51 million in July-September 2023 from EGP 315.16 million in Q3-22, while revenues grew to EGP 437.43 million from EGP 322.81 million.
Chairman of e-finance, Ibrahim Sarhan, commented: “Revenue growth was mostly driven by our flagship subsidiary e-finance Digital Operations, which delivered solid results across its business segments on the back of the continued investment in our cloud services offering, as well as the strong growth witnessed in transaction revenue.”
“During the nine-month period, the subsidiary saw its variable-fee transaction revenue increase by 76.80% YoY as it continued to generate positive returns from the increased adoption of digital payment solutions across a number of key sectors,” Sarhan added.
He underlined: “At the group’s bottom line, we booked a milestone achievement, with e-finance’s net income surpassing the EGP 1 billion mark for the very first time, reflecting an increase of 68.50% YoY in 9M-23 and yielding an associated margin expansion of 6.30 percentage points to 41.60%.”
In the first half (H1) of 2023, e-finance logged non-consolidated net profits valued at EGP 390.22 million, higher YoY than EGP 221.21 million.
