Cairo - Mubasher: e-finance for Digital and Financial Investments posted consolidated net profits worth EGP 1.39 billion in the first nine months (9M) of 2024, up 21.50% from EGP 1.14 billion in 9M-23.
Total consolidated revenues hit EGP 3.44 billion as of 30 September 2024, higher by 24.50% year-on-year (YoY) than EGP 2.76 billion, driven by broad-based growth across most of the group’s subsidiaries.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 18.10% YoY to EGP 1.55 billion in 9M-24 from EGP 1.31 billion, according to the financial results.
Financials for Q3-24
During the third quarter (Q3) of 2024, e-finance generated an annual leap of 47% in consolidated net profit to EGP 630.80 million, versus EGP 429 million.
In July- September 2024, the EGX-listed group achieved revenues amounting to EGP 1.15 billion, marking a rise of 12.70% from EGP 1.09 billion in Q3-23.
Ibrahim Sarhan, Chairman of e-finance, commented: "After acquiring ownership stakes in “Al Ahly Momken” and “easyCash for Digital Payments” last quarter, we have recently launched the first Africa-focused specialised Egyptian e-commerce platform, “ECOM Africa”, further expanding our reach across the retail sector. “
“I am pleased to announce that our solutions are currently present at 109 touristic sites across Egypt, surpassing the 100-site benchmark, marking a significant milestone for the group," Sarhan added.
He noted: “With the current expansionary trend witnessed by the Egyptian tourism sector, we remain positive that the sector will continue to be an important pillar of Egypt’s economic growth strategy.”
During the first half (H1) of 2024, the consolidated net profits of e-finance increased to EGP 784.56 million from EGP 726.10 million in H1-23.
