Egypt: EFG Holding posts 33.7% YoY lower consolidated net profits in Q1 2025
Arab Finance: EFG Holding logged 33.69% lower consolidated net profits attributable to the owners of the company at EGP 1.204 billion in the first quarter (Q1) of 2025, versus EGP 1.816 billion in Q1 2024, according to the financial statements.
Earnings per share (EPS) dropped to EGP 0.83 in Q1 2025 from EGP 1.24 a year earlier, while the interest income hiked to EGP 6.582 billion from EGP 4.387 billion.
As for the standalone business, the net profits hit EGP 2.160 billion in the first three months of 2025, compared to EGP 1.444 billion at the end of March 2024.
Non-consolidated revenues surged to EGP 2.892 billion from EGP 2.552 billion, while the EPS climbed to EGP 1.48 from EGP 0.99.
Karim Awad, Group CEO of EFG Holding, commented: 'The year-on-year decline in revenues and net profit is predominantly attributable to the exceptional FX gains and unrealized investment revaluations recorded in Q1 2024 following the large EGP devaluation that saw the EGP lose more than half of its value against the US Dollar in March 2024.'
'When adjusted for these extraordinary items, our performance this quarter demonstrates solid operational growth across all lines of business and a clear trajectory of growth,' Awad elaborated.
He added: 'Our Asset Management platform continues to grow, with AUMs on the rise, while our Investment Banking division executed landmark transactions during the quarter, including our leading role in the IPO of Nice One in KSA and the ADNOC Gas secondary offering in the UAE—further cementing our position as the advisory house of choice in the region.'
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