Telecom Egypt's consolidated profits hike to EGP 9.18bn in 2022

Cairo – Mubasher: The consolidated net profits after tax of Telecom Egypt reached EGP 9.18 billion in 2022, a leap from EGP 8.42 billion in 2021, including non-controlling equity.

The EGX-listed company generated revenues worth EGP 44.27 billion last year, higher than EGP 37.08 billion in 2021, according to the income statements.

Earnings per share (EPS) went up to EGP 4.61 during January-December 2022 from EGP 4.34 a year earlier, whereas the total assets hiked to EGP 119.89 billion from EGP 89.88 billion.

Standalone Financial Results

Telecom Egypt logged standalone net profits after tax of EGP 7.34 billion in 2022, an annual jump from EGP 6.95 billion.

Non-consolidated revenues surged to EGP 32.91 billion as of 31 December 2022 from EGP 27.78 billion in 2021, while the EPS grew to EGP 3.83 from EGP 3.66.

Meanwhile, the total standalone assets hit EGP 106.16 billion last year, up from EGP 80.96 billion in the 12-month period that ended on 31 December 2021.

During the first nine months (9M) of 2022, the telecom firm witnessed a 1.14% year-on-year (YoY) rise in consolidated net profit to EGP 6.17 billion, versus EGP 6.10 billion, including minority interest.

Mubasher Contribution Time: 07-Mar-2023 06:53 (GMT)
Mubasher Last Update Time: 07-Mar-2023 06:53 (GMT)