Egypt: e-finance's consolidated profits jump 41.2% YoY in 2024
Egypt - e-finance for Digital and Financial Investments posted 41.2% higher consolidated net profits after tax and non-controlling interest at EGP 1.775 billion in 2024, compared to EGP 1.257 billion in 2023, the financial results showed.
Earnings per share (EPS) increased to EGP 0.71 last year from EGP 0.49 in 2023, while the revenues climbed by 33.6% to EGP 5.209 billion from EGP 3.898 billion.
As for the standalone business, the net profits after tax hiked to EGP 1.050 billion at the end of December 2024 from EGP 804.010 million a year earlier.
Non-consolidated revenues increased to EGP 1.155 billion last year from EGP 808.004 million in 2023, while the basic and diluted EPS grew to EGP 0.39 from EGP 0.29.
Ibrahim Sarhan, Chairman of e-finance, attributed the higher revenues to the strong performance of the group's flagship subsidiary e-finance Digital Operations.
Sarhan added: 'Our top-line growth for the final quarter of the year was particularly impressive, with revenue expanding by 55.8% year-on-year, as well as 52.3% quarter-on-quarter in Q4 2024 to EGP 1.8 billion.'
'The group's strong margins for 2024 were largely supported by the solid margin expansion witnessed during Q4 2024, where EBITDA margin increased by 4.8% points YoY to 50.9% and net profit margin expanded by 12% points to 21.7%,' he stated.
In the first nine months of 2024, the EGX-listed firm recorded 21.45% year-on-year (YoY) higher consolidated net profits after tax and non-controlling interest at EGP 1.393 billion.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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