Egypt: Contact's consolidated net profits fall in H1-25
The company posted EGP 1.32 billion in insurance revenues as of 30 June 2025, versus EGP 821.89 million in the corresponding period last year, according to the financial statements.
The group's gross written premiums (GWPs) hit EGP 1.88 billion in H1-25, signaling a 55% year-on-year (YoY) surge from EGP 1.21 billion.
Total operating income hiked by 24% to EGP 1.12 billion for the six-month period that ended on 30 June 2025 from EGP 909 million.
Meanwhile, the earnings per share (EPS) amounted to EGP 0.10 in H1-25, down YoY from EGP 0.14.
Standalone Results
In H1-25, Contact suffered higher non-consolidated net losses after tax worth EGP 20.59 million, against EGP 1.15 million in the year-ago period.
Loss per share stood at EGP 0.017 as of 30 June 2025, versus EGP 0.001 in H1-24.
Financial Statements for Q2
In the second quarter (Q2) of 2025, the company's consolidated net profits reached EGP 98.16 million, an annual plunge from EGP 173.80 million in Q2-24.
Insurance revenues jumped to EGP 708 million in Q2-25 from EGP 464.66 million in Q2-24, while the EPS dropped to EGP 0.05 from EGP 0.13.
During the April-June 2025 period, the group shifted to standalone net losses after tax valued at EGP 8.42 million, against a net profit of EGP 2.70 million in Q2-24.
The management of Contact commented: 'As we enter H2-25, we are optimistic that the positive momentum will continue as economic conditions improve further, and we remain confident in our ability to deliver on the Group's short and long-term targets.'
The company emphasized: 'Our strategic goals and priorities remain unchanged, we will continue to leverage our solid business foundations and proven growth strategies to capitalize on the ongoing market recovery, with both our financing and insurance divisions well-positioned to deliver solid, sustainable growth."
'In parallel, the consistent development and expansion of our digital capabilities continues to be a main priority, and we remain committed to delivering new and enhanced solutions across both ContactNow and Contactcars.com over the coming period,' the management added.
In the first three months (3M) of 2025, Contact logged 306% higher consolidated net income at EGP 59 million, compared to EGP 14 million in Q1-24.
All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (Syndigate.info).
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