Yet more companies are out with their financials for the previous year, with GB Corp, CI Capital, and Telecom Egypt out with their earnings for 2024.

GB CORP SEES NET INCOME INCREASE BY MORE THAN 50% IN 2024-

GB Corp’s net income rose 54.8% y-o-y in 2024 to EGP 2.9 bn, the company said in its earnings release (pdf). The company also recorded a 90.6% y-o-y increase in revenues at EGP 54.0 bn, which the company attributed to “strong performances” in its GB Auto and GB Capital arms.

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The breakdown: GB Corp’s GB Auto saw its revenues nearly double y-o-y to EGP 47.1 bn during the year, “driven by enhanced pricing strategies and an improved product mix.” The group’s NBFS arm GB Capital saw its revenues — before intercompany eliminations — rise 49.1% y-o-y to record EGP 7.4 bn.

On a 4Q basis, net income increased 82.9% y-o-y to EGP 1.1 bn, while revenues came in 111.1% higher compared to the same period in 2023 at EGP 18.6 bn.

Looking ahead: “We will deepen our regional presence by introducing new brands, boosting automation, and further digitalizing our operations to strengthen efficiency and synergies across all lines of business,” CEO Nader Ghabbour said. “Overall, we remain cautiously optimistic about the country's macroeconomic outlook, with the expected relative stability

in FX and inflation rates, an imminent CBE easing cycle, the easing of import restrictions, and the gradual recovery in consumer purchase power, all creating a tail wind effect driving growth across GB Corp’s lines of businesses.”

CI CAPITAL SEE NET INCOME MORE THAN DOUBLE IN 2024-

CI Capital’s net income after minority interest and tax logged EGP 2.2 bn in 2024, rising 115% y-o-y, the company said in a press release (pdf). Its corporate leasing arm Corplease saw its net income after tax rise 58% y-o-y to EGP 1.1 bn in 2024

The company’s total revenues climbed 52% y-o-y, coming in at a record EGP 10 bn last year. Corplease recorded revenues of EGP 4.8 bn for the year, up 30% y-o-y. Revenues from its microfinance arm Reefy rose 30% y-o-y to EGP 2 bn, the group’s investment bank posted a 78% y-o-y increase in revenues to EGP 1.7 bn, while revenues for CI Mortgage Finance rose 124% y-o-y to EGP 532 mn.

The group’s total financing portfolio came in at EGP 22.1 bn in 2024, with Corplease’s outstanding portfolio standing at EGP 15.7 bn, and Reefy’s loan portfolio registering EGP 3.2 bn. CI Mortgage Finance’s outstanding portfolio stood at EGP 1.9 bn.

What they said: “These results are a testament to the effectiveness of our strategic initiatives and our model's sustainability, both underpinned by the Group’s diverse, integrated, and market-leading investment banking and nonbanking financial services platforms,” Group CEO Hesham Gohar said.

FAWRY’S NET INCOME DOUBLES-

EGX-listed fintech giant Fawry saw its net income jump 124.6% y-o-y in 2024 to record EGP 1.6 bn driven by a 68.4% y-o-y revenue growth to EGP 5.51 bn — marking its highest topline growth rate since its 2015, the company said in an earnings release (pdf). The increase in revenues was the result of “the expansion and diversification of the Company’s business offerings [and] effective cost control measures.”

Driving the growth: Fawry’s banking services segment — which made up 42% of the firm’s revenues for the year — saw its revenues jump 83.3% y-o-y to EGP 2.3 bn last year. The alternative digital payments segment was the second largest contributor to Fawry’s overall revenues, saw its revenues come in at EGP 1.7 bn, marking a 34.7% y-o-y increase. The company’s financial services segment came in third, growing by 137.7% y-o-y to EGP 1 bn, while revenues from supply chain solutions grew by 53.4% to EGP 347 mn.

On a quarterly basis: Fawry’s net income stood at EGP 500.1 mn, marking a 118.6% y-o-y increase, during 4Q 2025. The fintech player recorded a 74.4% y-o-y increase in revenues during the quarter, which sat at EGP 1.7 bn.

What they said: “As we look to the future, our focus remains on building a multi-sided platform that fosters seamless interactions across our network. Through continuous innovation and service expansion, we are committed to addressing the diverse needs of our customers while driving financial inclusion for Egypt’s unbanked and underserved communities,” said CEO Ashraf Sabry.

TELECOM EGYPT SEES REVENUES DIP-

Telecom Egypt closed 2024 with a 22% y-o-y rise in net income to EGP 14.3 bn for the year — when excluding EGP 4.9 bn in FX losses and early retirement compensation amounting to EGP 600 mn — according to the company’s latest earnings release(pdf). When accounting for FX losses and early retirement payments, net income comes in at EGP 10.1 bn, marking a 14% y-o-y decline.

It’s a more positive image for the telecom giant’s revenues, with total revenue increasing 45% y-o-y to EGP 82 bn in 2024, which the release attributes to its retail segment driving 52% of revenue growth and making up 54% of total revenue. Its home and consumer segment also registered a similar increase in revenue, registering 45% y-o-y growth throughout the period.

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