Latest news with #netProfit
Zawya
4 days ago
- Business
- Zawya
Egypt: Orascom Construction posts $847.6mln in Q1 2025 revenue
Arab Finance: Orascom Construction reported revenue of $847.6 million, and the company's consolidated backlog stood at $8.7 billion during the first quarter (Q1) of 2025, as per an emailed release. The firm also reported net profit attributable to shareholders of $25.1 million and EBITDA worth $54.1 million as of March 31st. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Reuters
5 days ago
- Business
- Reuters
Russian banks' net profit up 7% m/m in April, central bank says
MOSCOW, May 28 (Reuters) - The net profit of Russian banks rose by 7% in month-on-month terms in April to 261 billion roubles ($3.27 billion), according to data published by the central bank on Wednesday. Corporate lending rose by 0.9% in April compared to March, while consumer lending declined by 0.7%, the central bank said. ($1 = 79.8705 roubles)
Free Malaysia Today
19-05-2025
- Business
- Free Malaysia Today
Qatar Airways reports record US$2bil annual profit
In 2024, Qatar Airways reported a net profit of US$1.7 billion, up 39% from the previous year. (EPA Images pic) DOHA : Qatar Airways posted a 28% jump in annual net profit to a record US$2.15 billion today, days after sealing a major Boeing deal during US President Donald Trump's visit.'These record-breaking results are a testament to the hard work, skill and dedication of teams across all of Qatar Airways Group,' said the state-owned carrier's chief executive, Badr Mohammed Al-Meer. Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17% on the year before, the airline said. 'We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events,' Al-Meer added in his statement. In Doha during a multi-stop tour of the Gulf last week, Trump hailed a 'record' Qatar Airways order for 160 planes from Boeing as he signed a number of deals alongside Qatar's emir. The White House later said Qatar Airways would honour a 'US$96 billion agreement to acquire up to 210 American-made Boeing 787 Dreamliner and 777X aircraft powered by GE Aerospace engines'. The order is comprised of 130 Dreamliner planes and 30 Boeing 777-9 jets, which are still being certified by the US Federal Aviation Administration. 'The order also includes options for 50 additional 787 and 777X planes,' Boeing and Qatar Airways said in statements. In February, Australian authorities approved a Qatar Airways acquisition of a 25% stake in troubled airline Virgin Australia, injecting foreign competition into the country's aviation sector dominated by national carrier Qantas. In August last year, Qatar Airways acquired a 25% stake in Airlink, an independent Southern African carrier. In 2024, the Qatari airline reported a US$1.7 billion net profit following an annual increase of 39%, another record.
Yahoo
17-05-2025
- Business
- Yahoo
Banco Davivienda SA (BOG:PFDAVVNDA) Q1 2025 Earnings Call Highlights: Strong Profit Growth Amid ...
Loan Portfolio: Closed at COP 144 trillion, reflecting an annual growth of 6%. Net Interest Margin: Expanded by 19 basis points, reaching 5.68% including FX and derivatives. Cost of Risk: Decreased to 2.41%, showing substantial improvement. Net Profit: COP 291 billion, with a 3-month annualized ROE of 7.19%. CET1 Ratio: 11.18%, indicating strong capital adequacy. Total Assets: Closed at COP 190 trillion, increasing by 8% year-over-year. Nonfinancial Income: Grew by nearly 2% during the quarter. Operating Expenses: Decreased by approximately 3%. PDL Ratio: Stable at 4.4%, with improvements in consumer asset quality. Consumer Portfolio: Disbursements gradually increased, focusing on controlled risk levels. Funding Base: Strengthened with increased low and mid-cost deposits. Capital Adequacy Ratio: Total ratio reached 1.62%, providing strategic support. Nonfinancial Income: Totaled COP 620 billion, growing by 1.9% quarter-over-quarter. Profit Contribution: 74% from Colombian operations, 26% from Central American subsidiaries. Warning! GuruFocus has detected 6 Warning Signs with BOG:PFDAVVNDA. Release Date: May 16, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Banco Davivienda SA (BOG:PFDAVVNDA) reported a strong first quarter with a net profit of COP 291 billion and an annualized return on average equity of 7.19%. The loan portfolio showed an annual growth of 6%, reflecting higher dynamics across business lines. The net interest margin expanded by 19 basis points, and the cost of risk decreased to 2.41%, indicating improved income generation capacity. DaviPlata, the bank's digital platform, showed strong performance with a 6% increase in customers, over 20% growth in deposits, and a 28% increase in transactions. The bank's CET1 ratio stood at a solid 11.18%, providing a strong capital base to support strategic execution. Inflation remains a concern, with expectations that it will close around 4.45% for the year, potentially impacting monetary policy and economic conditions. The loan book decreased by 1.3% during the quarter due to temporary impacts such as peso appreciation and modest credit demand. The commercial loan segment experienced slight deterioration, particularly related to a few corporate clients in the construction, industrial, and services sectors. There is uncertainty regarding the cap rate for the consumer book, which could impact net interest margins if interest rates decrease. The integration of Scotiabank assets in Colombia, Costa Rica, and Panama may involve significant expenses and operational challenges, potentially affecting medium-term profitability. Q: Can you discuss your expectations for ROE in the coming quarters, given that the first quarter's ROE was close to the upper end of your guidance? Also, provide an update on the approvals for the acquisition of Scotiabank assets in Colombia, Costa Rica, and Panama. A: Javier Jose Suarez Esparragoza, CEO: The first quarter was strong, partly due to seasonal effects. We are cautious about changing guidance due to uncertainties in the international and Colombian environments. Regarding the Scotiabank acquisition, the approval process is progressing well, and we expect to close the transaction by the end of the year. The integration will occur in phases, with operational integration expected next year. Q: What are the potential risks to your guidance, particularly regarding NIM and cost of risk? A: Javier Jose Suarez Esparragoza, CEO: NIM could be affected by seasonal inflation effects and potential changes in the cap rate for consumer loans. However, we are working on improving NIM through transactional deposits. For cost of risk, we are seeing improvements in consumer asset quality, but we are also increasing coverage in the commercial book, which may temporarily raise cost of risk. Q: What are your medium-term ROE expectations, excluding the Scotia deal? A: Javier Jose Suarez Esparragoza, CEO: We expect medium-term ROE to trend towards 13%, potentially higher post-Scotia integration. This will take a couple of years, as we need to grow the loan book and improve operational leverage. Current expense growth is affected by non-recurring factors, and we see potential for improvement in NIM and cost of risk. Q: What happened with DaviPlata's activity rate this quarter, and what are your midterm targets for DaviPlata? A: Javier Jose Suarez Esparragoza, CEO: The drop in activity rate is due to seasonal effects and changes in government subsidy programs. However, transaction volumes and deposits are growing strongly. We are focusing on expanding the credit business, which should help DaviPlata reach breakeven next year. Q: What are the risks that could lower ROAE from the current guidance, and what positive factors from this quarter might not repeat? A: Javier Jose Suarez Esparragoza, CEO: The inflation-linked portfolio performed well this quarter, but this may not continue. However, we are enhancing our transactional deposit base, which should support NIM. We are cautious about maintaining guidance due to potential risks, but structural improvements in NIM and cost of risk could keep us at the higher end of the guidance. Q: When could we see credit acceleration, and in which segments, considering mixed delinquency trends? A: Javier Jose Suarez Esparragoza, CEO: We expect commercial demand to pick up as economic conditions stabilize. Consumer credit is already improving, and we are becoming more aggressive in this segment. Mortgage growth was strong in the first half but may slow due to reduced government subsidies. Overall, we anticipate 6% to 8% portfolio growth. Q: Could you share the ARPAC and cost to serve at DaviPlata, and provide more details on the Scotia client overlap and integration process? A: Javier Jose Suarez Esparragoza, CEO: DaviPlata's ARPAC is steady, and we expect it to increase with credit business expansion. Cost to serve is decreasing due to efficiencies. There is significant client overlap with Scotia, but we aim to enhance customer value propositions. Integration will be phased, leveraging technology to improve customer experience without immediate core banking changes. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Zawya
16-05-2025
- Business
- Zawya
Egypt: AMOC's consolidated profit surges 4.87% YoY in 9 months
Egypt - Alexandria Mineral Oils Company (AMOC) reported a 4.87% year-on-year (YoY) increase in consolidated net profit after tax for the first nine-month period of fiscal year (FY) 2024/2025, according to the financial statement filed to the Egyptian Exchange (EGX) on May 15th. Consolidated net profit after tax amounted to EGP 1.056 billion in the nine-month period ended March 31st, compared to a profit of EGP 1.007 billion in the same period of FY 2023/2024. The company generated consolidated net sales of EGP 28.314 billion in the first nine months of FY 2024/2025, from the EGP 22.747 billion reported in the same period a FY eariler. Meanwhile, the company's standalone net profit after tax jumped to EGP 1.156 billion in the nine-month period ended March 31st from EGP 983.358 million in the corresponding period of the prior fiscal year. AMOC is an Egypt-based company that operates in the petroleum industry. The company specializes in the production of essential mineral oils, paraffin wax and its derivatives, naphtha, and butane, as well as distributes and markets them in Egypt and abroad. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
