{"id":564425,"date":"2021-08-31T13:40:22","date_gmt":"2021-08-31T13:40:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/"},"modified":"2021-08-31T13:40:22","modified_gmt":"2021-08-31T13:40:22","slug":"orascom-financial-in-the-black-since-launching-in-december","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/","title":{"rendered":"Orascom Financial in the black since launching in December"},"content":{"rendered":"<p><strong>Orascom Financial Holding has made a total net income of EGP 36.7 mn since its <\/strong><strong>inception<\/strong> <strong>in December last year<\/strong> on revenues of EGP 248.4 mn, according to the company\u2019s financial <a href=\"https:\/\/ent.news\/2021\/8\/Orascom.pdf\">statements (pdf)<\/a>. In 2Q2021, OFH generated EGP 17.3 mn in net income on revenues of EGP 119.7 mn. Orascom Investment Holding <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2469cdec-9e26-4c3d-b311-03eca1646756\">spun off<\/a> its financial business, creating OFH in a demerger that concluded earlier this year when OFH <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0c34203-11bd-4e8b-ad37-b861ca42b976\">started trading<\/a> on the EGX.<\/p>\n<p><strong>Pioneers Holding\u2019s net income fell over 57% to EGP 223.2 mn during 2Q2021 <\/strong>from EGP 529.7 mn the year before, according to the company\u2019s financial <a href=\"https:\/\/ent.news\/2021\/8\/Pioneers-Holding.pdf\">statement (pdf)<\/a>. The drop came despite revenues climbing 22% to EGP 2.2 bn during the quarter from EGP 1.8 bn last year.<\/p>\n<p><strong>Things turned up for Al Ahly for Development and Investment<\/strong>, which recorded a net income of EGP 5.9 mn during 2Q2021 after turning a EGP 423k loss last year, according to the company\u2019s financial <a href=\"https:\/\/ent.news\/2021\/8\/al-ahly-for-development-and-investment.pdf\">statement (pdf)<\/a><strong>. <\/strong>Revenues rose almost 25% to EGP 18.3 mn from EGP 14.8 mn last year.<\/p>\n<p><strong>Tourism developer Remco generated net income of EGP 197.4 mn during 2Q2021<\/strong>, rebounding from a tough quarter last year when the company made a EGP 209.9 mn loss due to the shuttering of the country\u2019s tourism sector due to covid, figures from the company\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/remco-tourism-village-construction.pdf\">quarterly financials (pdf)<\/a> show.<\/p>\n<hr class=\"grey-line\" \/>\n<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>SMALL CAP NEWS- Odin Investments\u2019 real estate investment firm Emerald is planning <\/strong><strong>to IPO on the Nilex by next month<\/strong> via a private placement and public offering, CEO Hashem El Sayed told us, confirming news first broken by <a href=\"https:\/\/bit.ly\/3jrDDn8\">Al Mal<\/a>. The company will list a 10.5% stake on the exchange, with 65% of the 45 mn shares being allocated to institutional investors, and the remaining 35% being offered to the public, he said.<\/p>\n<p><strong>Regulatory approval:<\/strong> The Financial Regulatory Authority on Thursday gave the go ahead to the company to start preparing for the offering and green-lit the fair value report, which will be disclosed when the prospectus has been approved, El Sayed said.<\/p>\n<p><strong>Advisors:<\/strong> Odin Capital provided financial advice and EgyTrend handled the fair value report.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.2% at today\u2019s close<\/strong> on turnover of EGP 1.6 bn (7.8% above the 90-day average). Regional investors were net sellers. The index is up 2.8% YTD.<\/p>\n<p><strong>In the green: <\/strong>Fawry (+5.4%), Mopco (+1.9%) and Credit Agricole (+1.8%).<\/p>\n<p><strong>In the red: <\/strong>Speed Medical (-8.2%), Qalaa Holding (-2.5%) and Egyptian Resorts Company (-2.4%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Orascom Financial Holding has made a total net income of EGP 36.7 mn since its inception in December last year on revenues of EGP 248.4 mn, according to the company\u2019s financial statements (pdf). In 2Q2021, OFH generated EGP 17.3 mn in net income on revenues of EGP 119.7 mn. Orascom Investment Holding spun off its [&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":[302,409,633,642,553,3307,1292],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564425","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-earnings","tag-earnings-watch","tag-enterprisepm","tag-go-with-the-flow","tag-orascom-financial-holding","tag-pioneers-holding","tag-remco-group","wpautop","entry"],"acf":{"mongo_id":"a9123ab8-0be5-49b8-b92a-46fa456e5b51","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[564418],"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>Orascom Financial in the black since launching in December - 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\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orascom Financial in the black since launching in December\" \/>\n<meta property=\"og:description\" content=\"Orascom Financial Holding has made a total net income of EGP 36.7 mn since its inception in December last year on revenues of EGP 248.4 mn, according to the company\u2019s financial statements (pdf). In 2Q2021, OFH generated EGP 17.3 mn in net income on revenues of EGP 119.7 mn. Orascom Investment Holding spun off its [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-31T13:40:22+00:00\" \/>\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\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Orascom Financial in the black since launching in December\",\"datePublished\":\"2021-08-31T13:40:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/\"},\"wordCount\":390,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"earnings\",\"earnings watch\",\"EnterprisePM\",\"Go with the Flow\",\"Orascom Financial Holding\",\"Pioneers Holding\",\"Remco Group\"],\"articleSection\":[\"GO WITH THE FLOW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/orascom-financial-in-the-black-since-launching-in-december\/\",\"name\":\"Orascom Financial in the black since launching in December - 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The company recorded operational revenues of EGP 362.4 mn and total revenues of EGP 522.1\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":564194,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/fawry-mm-group-ode-all-report-stellar-earnings-in-2q2021\/","url_meta":{"origin":564425,"position":1},"title":"Fawry, MM Group, ODE all report stellar earnings in 2Q2021","author":"enterpriseam admin","date":"16 August 2021","format":false,"excerpt":"EARNINGS WATCH- Fawry\u2019s net income rose 7% to EGP 51.4 mn in 2Q2021, up from EGP 47.9 mn in the same period last year, according to its financials (pdf). 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":555875,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/orascom-financial-reports-egp-17-9-mn-net-income-in-3q\/","url_meta":{"origin":564425,"position":2},"title":"Orascom Financial reports EGP 17.9 mn net income in 3Q","author":"enterpriseam admin","date":"30 November 2021","format":false,"excerpt":"Orascom Financial Holding reported EGP 17.9 mn in net income in 3Q2021, raising total income since its inception in December last year to EGP 54.6 mn, according to the company\u2019sfinancials (pdf). The company, which was formed last year after Orascom Investment Holding spun off its financial services business, reported EGP\u2026","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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555026,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/29\/ofhs-3q2021-net-income-reaches-egp-17-9-mn\/","url_meta":{"origin":564425,"position":3},"title":"OFH\u2019s 3Q2021 net income reaches EGP 17.9 mn","author":"enterpriseam admin","date":"29 November 2021","format":false,"excerpt":"EARNINGS WATCH- Orascom Financial Holding\u2019s net income came in at EGP 17.9 mn in 3Q2021, with net earnings of EGP 54.6 mn since its inception in December last year, according to the company\u2019s financials (pdf). The Orascom Investment Holding spinoff reported EGP 107.6 mn in operating revenues for the quarter,\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":564639,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/oih-is-back\/","url_meta":{"origin":564425,"position":4},"title":"OIH is back","author":"enterpriseam admin","date":"17 February 2021","format":false,"excerpt":"The EGX30 fell -1.1% at today\u2019s close on turnover of EGP 1.4 bn (3% below the 90-day average). Foreign investors were net buyers. The index is up 5.24% YTD.In the green: Orascom Investment Holding (+51.5%), CI Capital (+0.9%) and Sodic (+0.6%).In the red: Orascom Financial Holding (-15.5%), Pioneers Holding (-3.3%)\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":557935,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/oih-sees-net-losses-of-egp-35-5-mn-in-2q2021\/","url_meta":{"origin":564425,"position":5},"title":"OIH sees net losses of EGP 35.5 mn in 2Q2021","author":"enterpriseam admin","date":"13 September 2021","format":false,"excerpt":"EARNINGS WATCH- Orascom Investment Holding (OIH) incurred net losses of EGP 35.5 mn in 2Q2021, compared to losses of EGP 49.9 mn during the same quarter last year, according to their financial statements (pdf). Revenues rose to EGP 220.7 mn in 2Q2021, compared to EGP 177.3 mn in 2Q2020. For\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\/564425","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=564425"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564425\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564418"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564425"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564425"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}