Cairo – Mubasher: EFG Holding, previously known as EFG Hermes Holding before the rebranding in May, posted consolidated net profits at EGP 2.09 billion in the first nine months (9M) of 2023.

The recorded net profits were higher than EGP 1.28 billion in 9M-22, including minority interest.

Revenues amounted to EGP 10.49 billion as of 30 September 2023, an annual hike from EGP 6.31 billion, according to the consolidated financial statements.

Total assets enlarged to EGP 122.57 billion in 9M-23 from EGP 105.50 billion as of 31 December 2022.

Standalone Business

The company's standalone net profits after tax were valued at EGP 652.07 million in 9M-23, compared to EGP 3.24 billion in the year-ago period.

The listed firm generated revenues standing at EGP 2.01 billion as of 30 September 2023, marking an annual plunge from EGP 3.97 billion.

Earnings per share (EPS) stood at EGP 0.45 in 9M-23, down YoY from EGP 2.22.

Financials for Q3-23

During the third quarter (Q3) of 2023, the consolidated net profits reached EGP 606.66 million, higher than EGP 390.06 million in Q3-22, including non-controlling interest.

The revenues hiked to EGP 2.95 billion in Q3-23 from EGP 2.32 billion a year earlier.

In July-September 2023, the company turned to non-consolidated net losses after tax amounting to EGP 172.86 million, versus net profits of EGP 388.03 million in Q3-22.

Standalone revenues plummeted to EGP 191.34 million in the three-month period that ended on 30 September 2023 from EGP 637.11 million a year earlier.

As of 30 June 2023, the consolidated and standalone net profits of EFG Holding reached EGP 1.28 billion and EGP 824.94 million, respectively.