Cairo – Mubasher: EFG Holding recorded a consolidated net profit after tax and minority interests of EGP 2.49 billion in 2023, up 39% year-on-year (YoY) from EGP 1.80 billion.

The company’s group net operating revenue surged 34% YoY to EGP 14.72 billion last year from EGP 10.95 billion in 2022, according to the annual financial statements.

The earnings per share (EPS) reached EGP 1.71 in the 12-month period that ended on 31 December 2023, up from EGP 1.24 the year before.

Total assets soared to EGP 121.90 billion last year from EGP 106.10 billion in 2022.

Fourth Quarter

During the fourth quarter (Q4) of 2023, EFG Holding’s consolidated net profit after tax and minority interest inched higher by 1% YoY to EGP 814 million from EGP 806 million in Q4-2022.

The group's net operating revenue declined by 9% YoY to EGP 4.19 billion in Q4-2023 from EGP 4.62 billion.

Standalone Results

On the other hand, EFG’s standalone net profit dropped to EGP 426.88 million in 2023 from EGP 2.09 billion in 2022.

Total revenue plummeted to EGP 2.43 billion last year from EGP 5.29 billion the year before.

In the first nine months (9M) of 2023, EFG Holding logged consolidated net profits of EGP 2.09 billion, up from EGP 1.28 billion in 9M-22.