EFIG announced today its standalone and consolidated results for the nine-month period ended 30 September 2023. The Group’s consolidated revenues rose by 42.7% y-o-y to EGP 2,764.8 million as the Group reaped the rewards of strong performances from its portfolio of subsidiaries. Strong top-line results trickled down to the Group’s EBITDA, which expanded by 44.1% y-o-y to EGP 1,313.8 million. At the bottom-line, EFIG’s net profit after non-controlling interest (NCI) surged by 68.1% y-o-y to EGP 1,147.4 million, yielding a y-o-y net profit margin increase of 6.3 percentage points to 41.5% during the nine-month period. The Group has kicked-off the second half of the year on an impressive note and has booked record results across the board, with our performance across all metrics continuing to reflect our innovative approach to doing business, the operational strength of our portfolio companies, the rewards generated from our growing investments across key sectors, as well as the rising demand for digital solutions from the sectors, businesses, and people we serve. The Group’s consolidated revenues increased by 42.7% y-o-y to EGP 2,768.4 million in 9M2023 following strong broad-based growth across the Group’s subsidiaries. eFinance Digital Operations was the primary revenue growth driver as the subsidiary reported solid results across all its business segments, followed by solid results from eCards, eKhales, and enable. On a quarterly basis, the Group saw its top-line expand by 52.3% y-o-y to stand at EGP 1,029.3 million at the close of 3Q2023.   Click Here for the full Earnings Release

EFIG announced today its standalone and consolidated results for the six-month period ended 30 June 2023. The Group’s consolidated revenues increased by 37.5% y-o-y to EGP 1,735.4 million driven by broad-based growth across the Group’s subsidiaries. On the profitability front, the Group recorded an EBITDA surge of 46.6% y-o-y to EGP 823.0 million, and at its bottom-line, the Group recorded a net profit after non-controlling interest (NCI) increase of 49.8% y-o-y to EGP 718.4 million, with an associated y-o-y net profit margin expansion of 3.4 percentage points to 41.4% during the six-month period. Following a strong start to the year, the Group has successfully maintained its momentum and delivered exceptional results for the first half of 2023. Our strong performances across the board demonstrate our ability to deliver on the Group’s operational, financial, and strategic goals despite the challenges presented to us. Moreover, we have continued to expand eFinance’s presence in the digital payments landscape in key sectors across the nation and further maximized the value generated from our comprehensive technology infrastructure, driving the Group’s solid results for the period. During 1H2023, the Group delivered a 37.5% year-on-year top-line increase to EGP 1.7 billion, largely driven by eFinance Digital Operations as the subsidiary continued to reap the rewards of its investment in cloud services and expand its footprint in Egypt across this lucrative and fast-growing space. Our results were further supported by increased growth across our transaction revenue, where the Group saw a stellar 85.9% year-on-year increase in variable fee transactions as we continued to capitalize on our investments in key sectors and the growing adoption of digital payments. In terms of profitability, the Group recorded a 49.8% year-on-year increase in net income to EGP 718.4 million, with an associated margin expansion of 3.4 percentage points to 41.4% in 1H2023 as we continue to benefit from the higher margin nature of multiple revenue streams coupled with management’s ability to alleviate the impact of Egypt’s record high inflation and elevated interest rate environment by utilizing a variety of mitigation strategies. Click Here for the full Earnings Release

EFIG Announced today its standalone and consolidated results for the quarter ended 31 March 2023. EFIG's consolidated revenues grew 37.3% y-o-y to EGP 768.0 million on the back of strong results delivered by e-finance Digital Operations, eAswaaq, and eKhales, in 1Q2023. The Group’s profitability also improved during the period, booking an EBITDA increase of 51.7% y-o-y to EGP 331.9 million and a margin expansion of 4.1 percentage points to 43.2% in 1Q2023. Parallel to this, net profit after non-controlling interests (NCI) increased by 40.7% y-o-y to EGP 281.9 million, yielding a year-on-year net profit margin expansion of 91 basis points to 36.7% in 1Q2023. e-finance Digital Operations continued to benefit from the growing value generated from its cloud hosting services coupled with a significant increase in revenue generated from variable-fee transactions during the period. The Group’s positive performance amidst challenging market conditions was further supported by stellar triple digit revenue growth at eAswaaq and double-digit revenue growth at eKhales during the period. The Group’s flagship subsidiary, e-finance for Digital Operations contributed the majority of the Group’s revenue in 1Q2023, which stood at a contribution of 93% at the end of the quarter. The subsidiary recorded a top-line increase of 42.4% y-o-y to EGP 714.6 million after inter-company eliminations in 1Q2023 as it continued to reap the rewards of its growing cloud hosting services. Cloud revenues grew by a stellar 151.3% y-o-y to EGP 207.6 million during the period. Parallel to this, the subsidiary’s solid performance was further supported by a 53.4% y-o-y increase in transaction-based revenue, which came on the back of a 27.1% y-o-y increase in fixed-fee revenue and a 78.2% y-o-y increase in variable-fee revenue in 1Q2023. Solid results from the subsidiary’s transaction-based and cloud hosting revenue streams offset the 11.3% y-o-y decline in build & operate revenue in 1Q2023. Revenue at eCards declined by 28.8% y-o-y to EGP 24.7 million after inter-company eliminations in 1Q2023 due to a 24.0% y-o-y fall in card production revenue. This reflects management’s decision to lower card production revenues due to an unfavorable FX environment and the impact of global supply chain constraints on chip availability. It is worthy to note that the subsidiary’s card management services booked strong revenue growth and eCards’ management anticipates increased value generation from this revenue stream going forward. eKhales booked a 21.7% y-o-y increase in post-elimination revenue to EGP 10.9 million in 1Q2023.