{"id":543957,"date":"2022-02-27T04:10:57","date_gmt":"2022-02-27T04:10:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/earnings-watch-rameda-pharma-gb-auto-and-contact-financial-report-fy2021-earnings\/"},"modified":"2022-02-27T04:10:57","modified_gmt":"2022-02-27T04:10:57","slug":"earnings-watch-rameda-pharma-gb-auto-and-contact-financial-report-fy2021-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/earnings-watch-rameda-pharma-gb-auto-and-contact-financial-report-fy2021-earnings\/","title":{"rendered":"Earnings watch: Rameda Pharma, GB Auto and Contact Financial report FY2021 earnings"},"content":{"rendered":"

<\/a> Tenth of Ramadan for Pharma Industries and Diagnostic Reagents (Rameda) <\/strong>reported an 18.8% increase in net income in 4Q2021 to EGP 74.1 mn<\/strong>, according to an earnings release (pdf)<\/a>. Revenues for the quarter grew 37.1% y-o-y to EGP 393.9 mn, marking the company\u2019s highest-ever quarterly revenues. On a full-year basis, Rameda reported a 61% increase in its bottomline to EGP 181.2 mn, with consolidated revenues rising 30% y-o-y to EGP 1.25 bn.<\/p>\n

The growth was underpinned by private sales<\/strong>, which grew 35.5% y-o-y in 2021, outpacing the overall private market for the year by 28.2 percentage points, CEO Amr Morsy said. Rameda also continued to grow its portfolio throughout the year, launching a total of seven new products throughout the year, including three in 4Q2021, which helped raise its overall retail pricing by 8% y-o-y to EGP 36.3 in 2021. Also contributing to Rameda\u2019s strong 2021 showing was its export activity, including exports to the Levant, where the pharma company recently began exporting, as well as a rise in revenues from exports to Iraq and Yemen.<\/p>\n

Rameda plans to launch another 8-10 products in 2022<\/strong> \u201cat relatively higher price points relative to its existing portfolio,\u201d according to Morsy. These products include nutraceuticals and existing line extensions, Morsy said. Rameda is also looking to tap into new export markets, including in the GCC and Europe, with registrations underway.<\/p>\n

\n

GB Auto\u2019s net income rose 64.2% y-o-y in 4Q2021 to EGP 472.6 mn<\/strong>, the company said in its earnings release (pdf)<\/a>. Revenues rose 25.6% y-o-y during the quarter to EGP 9.05 bn. GB reported a 61.2% y-o-y increase in its full-year bottomline to EGP 1.48 bn, on revenues of EGP 31.44 bn, up 34.9% y-o-y, thanks to recovering demand in 2021.<\/p>\n

In detail:<\/strong> Revenues from the auto and auto-related segment grew 30.2% y-o-y in 4Q2021 to EGP 7.16 bn, while full-year revenues rose 38.7% y-o-y to EGP 24.92 bn thanks to \u201cimproved market conditions and strengthening consumer purchasing power,\u201d the company said. GB Capital delivered 13.6% y-o-y revenue growth during the final quarter of the year, with full-year revenues rising 24.2% y-o-y to EGP 7.95 bn. GB Capital also reported a decrease in its non-performing loans, falling to 2.02% in 4Q2021 from 2.48% in 4Q2020.<\/p>\n

Looking ahead:<\/strong> GB Auto is looking to further expand its footprint in Egypt\u2019s compressed natural gas (CNG) vehicle market as the Sisi administration presses forward with its natgas conversion strategy, CEO Nader Ghabbour said. \u201cWe are optimistic that market conditions will continue to improve, consumer demand will persist and our refined pricing strategy will offset the impacts of supply chain disruptions and inflationary pressures.\u201d The company also has \u201cambitious goals\u201d in 2022 for GB Capital, as it works to introduce new products to the fintech market, Ghabbour said.<\/p>\n

\n

Contact Financial\u2019s net income rose 32% y-o-y in 2021 to EGP 465 mn<\/strong>, according to the company\u2019s earnings release (pdf)<\/a>.<\/p>\n

Growth was buoyed by a 30% y-o-y increase in financing net income<\/strong>, reaching EGP 442 mn in 2021. Contact extended a record EGP 7.1 bn of new financing throughout the year, thanks to \u201cincreased physical and digital capabilities coupled with an expanded product offering.\u201d Its ins. unit also delivered EGP 36 mn in net income during the year, soaring 185% y-o-y. Gross written premiums rose 82% y-o-y in 2021 to EGP 517 mn.<\/p>\n

Looking ahead: <\/strong>Contact said it is entering 2022 \u201cwith confidence stemming from our outstanding performance in the year just ended\u201d and said strengthening its digital capabilities will be a \u201ckey area of focus\u201d this year. \u201cOn this front, our Contact Pay venture is pressing ahead with the rollout of its services, including e-payment solutions to provide, operate and manage payment solutions through integration with Contact channels. The services will first be rolled out at our digital financing channel, Contact App.\u201d The company is also on the lookout to grow through \u201cstrategic partnerships,\u201d noting that it has made investments in companies including Sakneen, Sa3ar, Synapse Analytics and ecommerce super-app Wasla. \u201cLooking ahead, several other investments are in the pipeline as we continue to look for new ways to better serve our expanding audience, and continue to transform the way consumers and businesses access financial services.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Tenth of Ramadan for Pharma Industries and Diagnostic Reagents (Rameda) reported an 18.8% increase in net income in 4Q2021 to EGP 74.1 mn, according to an earnings release (pdf). Revenues for the quarter grew 37.1% y-o-y to EGP 393.9 mn, marking the company\u2019s highest-ever quarterly revenues. On a full-year basis, Rameda reported a 61% increase […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[933,302,409,72,241,449],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543957","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-contact-financial","tag-earnings","tag-earnings-watch","tag-enterpriseam","tag-gb-auto","tag-rameda-pharma","wpautop","entry"],"acf":{"mongo_id":"0b4e568b-0c96-4580-805b-eb298f4cf991","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[543943],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: Rameda Pharma, GB Auto and Contact Financial report FY2021 earnings - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/earnings-watch-rameda-pharma-gb-auto-and-contact-financial-report-fy2021-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Rameda Pharma, GB Auto and Contact Financial report FY2021 earnings\" \/>\n<meta property=\"og:description\" content=\"Tenth of Ramadan for Pharma Industries and Diagnostic Reagents (Rameda) reported an 18.8% increase in net income in 4Q2021 to EGP 74.1 mn, according to an earnings release (pdf). 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This came despite revenues rising almost 5% y-o-y during the quarter to EGP 287.3 mn due to \u201crecovering\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546383,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/15\/earnings-watch-rameda-bottomline-jumps-in-1q2022-company-eyes-acquisitions\/","url_meta":{"origin":543957,"position":4},"title":"Earnings watch: Rameda bottomline jumps in 1Q2022, company eyes acquisitions","author":"enterpriseam admin","date":"15 May 2022","format":false,"excerpt":"Tenth of Ramadan for Pharma Industries and Diagnostic Reagents (Rameda) reported a 138% y-o-y jump in its net income in 1Q2022 to EGP 71.8 mn, according to its earnings release (pdf). Rameda\u2019s topline for the quarter rose 27% y-o-y to EGP 343.1 mn.Private sales continue to underpin strong performance: Private\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":610118,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/15\/fawry-contact-financial-gb-corp-rameda-report-3q-2023-results\/","url_meta":{"origin":543957,"position":5},"title":"Fawry, Contact Financial, GB Corp + Rameda report 3Q 2023 results","author":"enterpriseam admin","date":"15 November 2023","format":false,"excerpt":"FAWRY REPORTS RECORD REVENUES- Another strong quarter for Fawry:EGX-listed e-payments giant Fawry more than doubled its adjusted net income to EGP 222.1 mn in 3Q 2023 as the company enjoyed strong growth across all of its segments, according to the company\u2019s earnings release (pdf). Revenues rose 42% y-o-y to a\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/800.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543957"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543957\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543943"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543957"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543957"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}