Cairo – Mubasher: Beltone Holding recorded a consolidated net profit of EGP 1.78 billion in 2024, marking a 383.47% leap from EGP 369.22 million in 2023.
The consolidated revenues surged by 296.82% year-on-year (YoY) to EGP 7.42 billion during the January-December 2024 period, compared to EGP 1.87 billion, according to Beltone’s financial results.
Earnings per share (EPS) grew to EGP 0.31 in 2024 from EGP 0.14 a year earlier.
The company’s total assets surged to EGP 33.74 billion as of 31 December 2024 when compared with EGP 18.28 billion in the year-ago period.
Group CEO of Beltone, Dalia Khorshid, commented: “Beltone’s record-breaking performance in 2024 reflects our strategic vision, data-driven approach, and operational efficiency.”
Khorshid added: “We remain committed to accelerating our digital transformation and strategic expansion into high-growth regional markets, solidifying Beltone’s position as a leading financial powerhouse.”
Non-Consolidated Results for 2024
As for the standalone income statement of the company, Beltone’s net profits after tax rose to EGP 631.35 million in 2024 from EGP 554.38 million.
The basic EPS from net profit, meanwhile, decreased to EGP 0.12 in 2024 compared with EGP 0.20 in 2023.
The total revenue jumped to EGP 1.59 billion during January-December 2024 from EGP 1.02 billion in the same period a year earlier.
Furthermore, the standalone total assets increased to EGP 11.77 billion as of 31 December 2024, compared to EGP 10.72 billion in the previous year.
It is worth noting that in the first nine months (9M) of 2024, Beltone achieved a net profit of EGP 1.20 billion, compared to EGP 85.77 million in 9M-23.
Revenues during 9M-24 rose to EGP 4.87 billion from EGP 949.82 million in the July-September 2023 period.
In December 2024, Beltone’s board approved an additional capital increase of EGP 10.75 billion, following a successful EGP 10 billion capital increase in 2023.
