{"id":551187,"date":"2022-05-31T13:17:47","date_gmt":"2022-05-31T13:17:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/earnings-watch-telecom-egypt-orascom-financial-holding-b-investments-report-1q2022-results\/"},"modified":"2022-05-31T13:17:47","modified_gmt":"2022-05-31T13:17:47","slug":"earnings-watch-telecom-egypt-orascom-financial-holding-b-investments-report-1q2022-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/earnings-watch-telecom-egypt-orascom-financial-holding-b-investments-report-1q2022-results\/","title":{"rendered":"Earnings watch: Telecom Egypt, Orascom Financial Holding, B Investments report 1Q2022 results"},"content":{"rendered":"<p><strong>EARNINGS WATCH-<\/strong><\/p>\n<p><strong>Telecom Egypt\u2019s 1Q2022 net income declined 36% y-o-y to EGP 1.40 bn<\/strong>, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/5\/Earnings_Releaseb925ddc7-ac32-4159-81a3-ad16b715b9c5.pdf\">earnings release (pdf)<\/a>. The telecom company\u2019s normalized net income \u2014 which excludes Vodafone Egypt\u2019s one-offs, the effect of the rising FX rate, provisions, and impairments \u2014 came in at EGP 1.7 bn, staying flat y-o-y. Revenues for the quarter rose 12% y-o-y to record EGP 9.4 bn.<\/p>\n<p><strong>Orascom Financial Holding reported EGP 27.43 mn in 1Q2022 net income, rising 41.5%<\/strong><strong> y-o-y<\/strong>, according to the <a href=\"https:\/\/ent.news\/2022\/5\/OFH-1Q2022.pdf\">company\u2019s financials (pdf)<\/a>. Revenues rose 37.6% to EGP 104.93 mn.<\/p>\n<p><strong>B Investments\u2019 net income dropped 55.9% y-o-y in 1Q2022 to EGP 22.31 mn<\/strong>, according to a <a href=\"https:\/\/egx.com.eg\/ar\/NewsDetails.aspx?NewsID=224794\">disclosure to the bourse<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 rose 0.4% at today\u2019s close<\/strong> on turnover of EGP 1.5 bn (44.4% above the 90-day average). Foreign investors were net buyers. The index is down 15.1% YTD.<\/p>\n<p><strong>In the green: <\/strong>E-finance (+4.1%), Abu Qir Fertilizers (+3.1%) and Ezz Steel (+2.8%).<\/p>\n<p><strong>In the red: <\/strong>Palm Hills Development (-9.4%), Cleopatra Hospital (-6.4%) and Heliopolis Housing (-4.3%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- Telecom Egypt\u2019s 1Q2022 net income declined 36% y-o-y to EGP 1.40 bn, according to the company\u2019s earnings release (pdf). The telecom company\u2019s normalized net income \u2014 which excludes Vodafone Egypt\u2019s one-offs, the effect of the rising FX rate, provisions, and impairments \u2014 came in at EGP 1.7 bn, staying flat y-o-y. Revenues for [&hellip;]<\/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":[7219],"tags":[140,302,633,642,553,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-551187","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-b-investments","tag-earnings","tag-enterprisepm","tag-go-with-the-flow","tag-orascom-financial-holding","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"dc78dc51-0910-46c9-93c1-b89ee4636434","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[551178],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Earnings watch: Telecom Egypt, Orascom Financial Holding, B Investments report 1Q2022 results - 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\/05\/31\/earnings-watch-telecom-egypt-orascom-financial-holding-b-investments-report-1q2022-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Telecom Egypt, Orascom Financial Holding, B Investments report 1Q2022 results\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Telecom Egypt\u2019s 1Q2022 net income declined 36% y-o-y to EGP 1.40 bn, according to the company\u2019s earnings release (pdf). The telecom company\u2019s normalized net income \u2014 which excludes Vodafone Egypt\u2019s one-offs, the effect of the rising FX rate, provisions, and impairments \u2014 came in at EGP 1.7 bn, staying flat y-o-y. 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The telecom company\u2019s normalized net income \u2014 which excludes Vodafone Egypt\u2019s one-offs, the effect of the rising FX rate, provisions, and impairments \u2014 came in at EGP 1.7 bn, staying flat y-o-y. 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Revenues fell 38% in 1Q2022 to EGP 20.1 mn.GlaxoSmithKline saw its bottom line soar 449.3% y-o-y in 2021 to EGP 154.63 mn, according\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":550958,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/raya-holdings-al-baraka-bank-report-1q2022-earnings\/","url_meta":{"origin":551187,"position":1},"title":"Raya Holdings, Al Baraka Bank report 1Q2022 earnings","author":"enterpriseam admin","date":"16 May 2022","format":false,"excerpt":"EARNINGS WATCH- Raya Holding\u2019s net income rose 49.7% y-o-y to EGP 53.59 mn in 1Q2022, according to the company\u2019s quarterly financials (pdf). This came on the back of revenues rising to EGP 4.48 bn, compared with EGP 4.03 bn in the same period last year.Al Baraka Bank reported EGP 369.38\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587677,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/earnings-watch-telecom-egypt-mm-group-housing-and-development-bank-raya-holding-eastern-company-and-abu-qir-fertilizers-report-results\/","url_meta":{"origin":551187,"position":2},"title":"Earnings watch: Telecom Egypt, MM Group, Housing and Development Bank, Raya Holding, Eastern Company, and Abu Qir Fertilizers report results","author":"enterpriseam admin","date":"30 May 2023","format":false,"excerpt":"EARNINGS WATCH- Telecom Egypt reported EGP 4.1 bn in normalized net income in 1Q 2023, rising 144% y-o-y, according to its earnings release (pdf). The company\u2019s revenues climbed 48% y-o-y to EGP 14 bn during the quarter.MM Group for Industry and International Trade\u2019s net income rose 201.7% y-o-y to EGP\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":579693,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/","url_meta":{"origin":551187,"position":3},"title":"It\u2019s earnings season: Credit Agricole, ADIB, Telecom Egypt, Abu Qir, AMOC, TMG","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"EARNINGS WATCH-Credit Agricole Egypt\u2019s net income after tax rose 37.4% y-o-y in 9M 2022 to EGP 1.6 bn, according to its financial statement(pdf). The bank\u2019s net interest income rose 15% y-o-y to EGP 4.4 bn during the period.Abu Dhabi Islamic Bank Egypt\u2019s (ADIB) net income rose 49% to EGP 1.5\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":551146,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/29\/earnings-watch-mm-group-oriental-weavers-emaar-misr-report-1q2022-results\/","url_meta":{"origin":551187,"position":4},"title":"Earnings watch: MM Group, Oriental Weavers, Emaar Misr report 1Q2022 results","author":"enterpriseam admin","date":"29 May 2022","format":false,"excerpt":"EARNINGS WATCH-MM Group reported a 60.1% y-o-y drop in its 1Q2022 bottom line, recording EGP 51 mn, according to an earnings release (pdf). The company\u2019s consolidated revenues also fell 22.9% y-o-y during the quarter to hit EGP 1.94 bn.Oriental Weavers recorded EGP 260.06 mn in net income in 1Q2022, down\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":583532,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/06\/earnings-watch-telecom-egypt-reports-2022-results\/","url_meta":{"origin":551187,"position":5},"title":"Earnings watch: Telecom Egypt reports 2022 results","author":"enterpriseam admin","date":"6 March 2023","format":false,"excerpt":"EARNINGS WATCH-State-owned telecoms firm Telecom Egypt\u2019s net income grew 9% y-o-y to EGP 9.2 bn in 2022, according to the company\u2019s earnings release (pdf). 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