E-finance logs $26.27mln consolidated profits in 2022; dividends unveiled

e-finance for Digital and Financial Investments posted consolidated net profits after tax attributable to the shareholders worth EGP 803.92 million in 2022, an annual jump of 54.70% from EGP 519.73 million, including non-controlling equity.

The basic earnings per share (EPS) stood at EGP 0.40 in the 12-month period that ended on 31 December 2022, higher than EGP 0.32 a year earlier, according to the income statements.

Revenues enlarged by 34.70% to EGP 2.64 billion in 2022 from EGP 1.96 billion in 2021, whereas the total assets grew to EGP 5.93 billion from EGP 5.04 billion.

Consolidated Financial Results for Q4

During the fourth quarter (Q4) of 2022, e-finance recorded a 12.80% year-on-year (YoY) drop in net profit after tax to EGP 121.50 million from EGP 139.30 million.

Meanwhile, the total consolidated revenues increased by 6.40% to EGP 706.20 million in Q4-22 from EGP 663.70 million in Q4-21.

Standalone Income Statements

The financial company generated EGP 496.66 million in standalone net profit after tax in 2022, an annual surge from EGP 211.26 million.

Non-consolidated revenues soared to EGP 547.90 million last year from EGP 327.59 million in 2021, whereas the EPS widened to EGP 0.22 from EGP 0.11

Total standalone assets hit EGP 4.31 billion as of 31 December 2022, versus EGP 3.73 billion a year earlier.

Ibrahim Sarhan, Chairman of e-finance, indicated: “The past year has seen challenging macroeconomic conditions and headwinds that not only hindered the Egyptian market but impacted regional and global economies as a whole in 2022.