{"id":557052,"date":"2021-09-05T04:00:09","date_gmt":"2021-09-05T04:00:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/"},"modified":"2021-09-05T04:00:09","modified_gmt":"2021-09-05T04:00:09","slug":"idh-net-income-more-than-quadruples-in-2q2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/","title":{"rendered":"IDH net income more than quadruples in 2Q2021"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Integrated Diagnostics Holdings\u2019 (IDH) 2Q2021 net income more than quadrupled <\/strong><strong>y-o-y to EGP 326.6 mn ion 2Q2021<\/strong>, from EGP 72 mn in the same time last year, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/9\/IDH-2Q2021-ER-E-FINAL.pdf\">earnings release (pdf)<\/a>. This significant growth came on the back of a surge in revenues, which more than doubled to EGP 1.2 bn from EGP 450 mn in 2Q2020, as the company said the market continues to recover from the impact of covid-19.<\/p>\n<p><strong>Covid tests underpin revenue growth:<\/strong> IDH\u2019s top-line growth during the quarter was driven by a near-6x increase in covid test revenues, which hit EGP 569 mn from EGP 83 mn in 2Q2020. Conventional tests also experienced growth, rising more than 60% to EGP 595 mn.<\/p>\n<p><strong>Egypt is still by far the company\u2019s largest market: <\/strong>Revenues in Egypt rose 166% to more than EGP 1 bn on the back of a huge rise in covid tests, which brought in EGP 504 mn during the quarter, up from EGP 67 mn last year. In comparison, revenues in Jordan almost doubled to EGP 324 mn and rose 68% to EGP 25 mn in Nigeria. IDH also attributed its Egypt growth to the growing popularity of its house call service, revenue growth at Al Borg Scan\u2019s and its Wayak app.<\/p>\n<p><strong>Looking ahead:<\/strong> The company plans to launch at least three new Al Borg Scan branches in Egypt over the coming year, and expects to stay in the black thanks to its expanding operations. It is also looking to sign strategic agreements with international airlines to provide carriers to perform PCR tests for passengers. IDH companies include Al Borg and Al Mokhtabar in Egypt as well as subsidiaries in Jordan, Sudan, and Nigeria.<\/p>\n<p><strong>The LSE listed IDH debuted its shares on the EGX <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48ddada3-0016-47a8-a9e6-201cb9d0cca7\">in May<\/a><\/strong> in a technical listing that sought to make the company\u2019s equity more accessible to domestic and regional investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Integrated Diagnostics Holdings\u2019 (IDH) 2Q2021 net income more than quadrupled y-o-y to EGP 326.6 mn ion 2Q2021, from EGP 72 mn in the same time last year, according to the company\u2019s earnings release (pdf). This significant growth came on the back of a surge in revenues, which more than doubled to EGP 1.2 bn from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":557053,"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":[302,409,72,7115,1406],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-enterpriseam","tag-healthcare","tag-integrated-diagnostics-holding","wpautop","entry"],"acf":{"mongo_id":"4ff5cbf1-3e19-4618-bf02-df431239fb31","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/59.jpg","photo_position":"above","related_issue":[557033],"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>IDH net income more than quadruples in 2Q2021 - 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\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IDH net income more than quadruples in 2Q2021\" \/>\n<meta property=\"og:description\" content=\"Integrated Diagnostics Holdings\u2019 (IDH) 2Q2021 net income more than quadrupled y-o-y to EGP 326.6 mn ion 2Q2021, from EGP 72 mn in the same time last year, according to the company\u2019s earnings release (pdf). This significant growth came on the back of a surge in revenues, which more than doubled to EGP 1.2 bn from [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-05T04:00:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/59.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IDH net income more than quadruples in 2Q2021\",\"datePublished\":\"2021-09-05T04:00:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/\"},\"wordCount\":311,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/59.jpg?fit=%2C&ssl=1\",\"keywords\":[\"earnings\",\"earnings watch\",\"EnterpriseAM\",\"healthcare\",\"Integrated Diagnostics Holding\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/\",\"name\":\"IDH net income more than quadruples in 2Q2021 - 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Revenues jumped 35% to EGP 393.6 mn in the April-June period, up from EGP 291.3 mn last year. The modest earnings\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":564153,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/11\/earnings-watch-beltone-nbk-egypt-credit-agricole-egypt-gsk-obour-land-arabian-cement\/","url_meta":{"origin":557052,"position":1},"title":"Earnings watch: Beltone, NBK Egypt, Credit Agricole Egypt, GSK, Obour Land, Arabian Cement","author":"enterpriseam admin","date":"11 August 2021","format":false,"excerpt":"EARNINGS WATCH- Beltone Financial reported net income of EGP 4.7 mn in 2Q2021, up from a loss of EGP 12.1 mn in 2Q2020 and net income of almost EGP 3.8 mn in the first quarter of this year, according to an earnings report (pdf). The company\u2019s revenues reached EGP 95.9\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":564174,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/ibnsina-net-income-up-45-in-2q2021\/","url_meta":{"origin":557052,"position":2},"title":"Ibnsina net income up 45% in 2Q2021","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"EARNINGS WATCH- Ibnsina Pharma saw its net income rise more than 45% to EGP 56.3 mn in 2Q2021, compared to EGP 38.7 mn in the same period last year, according to the company\u2019s earnings release (pdf). The bottom-line growth was fuelled by a 21% rise in revenues, which reached almost\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":605565,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/idh-reports-1h-2023-financials-as-it-continues-post-covid-transition\/","url_meta":{"origin":557052,"position":3},"title":"IDH reports 1H 2023 financials as it continues post-covid transition","author":"enterpriseam admin","date":"3 September 2023","format":false,"excerpt":"Revenues from non-covid-related tests climbed 40% during the period, partially offsetting the fall in covid income","rel":"","context":"In &quot;EARNINGS WATCH&quot;","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\/6\/65.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564239,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/","url_meta":{"origin":557052,"position":4},"title":"Earnings Watch: EFG Hermes, Palm Hills","author":"enterpriseam admin","date":"18 August 2021","format":false,"excerpt":"EARNINGS WATCH - EFG Hermes\u2019 net income rose 24% in 2Q2021, driven by growth in its non-bank lending subsidiaries and a solid performance in its investment banking arm, according to the firm\u2019s earnings release (pdf). The financial services corporation reported earnings of EGP 406 mn during the three-month period, up\u2026","rel":"","context":"In &quot;SPEED ROUND: EARNINGS WATCH&quot;","block_context":{"text":"SPEED ROUND: EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/473.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564113,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/rameda-net-income-up-60-in-2q2021\/","url_meta":{"origin":557052,"position":5},"title":"Rameda net income up 60% in 2Q2021","author":"enterpriseam admin","date":"9 August 2021","format":false,"excerpt":"EARNINGS WATCH- Tenth of Ramadan for Pharma Industries and Diagnostic Reagents\u2019 (Rameda) net income rose 60% to EGP 31.5 mn in 2Q2021, up from EGP 19.7 mn in the same period last year, according to the company\u2019s financials (pdf) released this morning. Revenues grew by 30% to EGP 267 mn\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557052","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=557052"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557052\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/557053"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557052"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557052"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}