EFIG is Continuing to Break Records!
eFinance Investment Group delivered another record high year in terms of revenue, net profit, and margin expansions across the board, as revenue expanded by 47% y-o-y to EGP 3.9 billion and adjusted net profit reached an all-time high of EGP 1.5 billion an increase of 61% y-o-y with a margin expansion to 39.2%. EFIG announced today its standalone and consolidated results for the year ended 31 December 2023. The Group’s consolidated revenues grew by 47.5% y-o-y to EGP 3,898.6 million, driven by solid results across its portfolio of subsidiaries. On the profitability front, the Group EBITDA rose by 64.5% y-o-y to EGP 1,836.6 million, yielding an EBITDA margin expansion of 4.9 percentage points to 47.1% in FY2023. At the bottom-line, e-finance’s net profit after NCI witnessed a substantial 56.4% y-o-y increase to EGP 1,257.7 million, with an associated y-o-y net profit margin expansion of 1.9 percentage points to 32.3% in FY2023. Adjusted net profit, which adds back non-cash ESOP expense on an after-tax basis, reached EGP 1,529.3 million in FY2023Commenting on the Group’s performance, EFIG's Chairman & CEO Ibrahim Sarhan said: “The Group’s consistent strong performance underscores its ability to meet operational, financial, and strategic objectives amidst an ever-changing macroeconomic landscape. Despite market fluctuations in Egypt, due to heightened inflationary pressures and local currency devaluation, the Group successfully navigated through these obstacles with resilience and determination, culminating in a robust performance for FY2023.Click Here for the full Earnings Release
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