{"id":565969,"date":"2021-05-19T13:43:44","date_gmt":"2021-05-19T13:43:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/"},"modified":"2021-05-19T13:43:44","modified_gmt":"2021-05-19T13:43:44","slug":"earnings-watch-efg-hermes-idh","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/","title":{"rendered":"Earnings Watch: EFG Hermes, IDH"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>EARNINGS WATCH- EFG Hermes\u2019 net income more than tripled to EGP 292 mn in <\/strong><strong>1Q2021<\/strong>, up from EGP 90 mn in the same period last year, the financial services giant said in its <a href=\"https:\/\/ent.news\/2021\/5\/EFG-Hermes-1Q2021-Earnings-Release.pdf\">earnings release (pdf)<\/a> this morning. Revenues jumped 30% to EGP 1.3 bn from EGP 965 mn in 1Q2020, driven by \u201crobust results\u201d at its non-banking financial services (NBFIs) platform and investment bank business, Group CEO Karim Awad <a href=\"https:\/\/ent.news\/2021\/5\/EFG-1Q21-Earnings-Press-Release-ENG.pdf\">said (<\/a><a href=\"https:\/\/ent.news\/2021\/5\/EFG-1Q21-Earnings-Press-Release-ENG.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/5\/EFG-1Q21-Earnings-Press-Release-ENG.pdf\">)<\/a>.<\/p>\n<p><strong>NBFI + investment bank revenues rebound y-o-y:<\/strong> Revenues in EFG\u2019s non-bank finance segment rose 22% y-o-y to EGP 441 mn, accounting for 35% of the group\u2019s top line. Its microfinance firm Tanmeyah posted sales of EGP 490 mn \u2014 the highest since its inception in 2009, while revenues at ValU tripled to EGP 56 mn. Revenues at the investment bank increased 30% y-o-y to EGP 814 mn. Revenues at EFG\u2019s private equity arm fell 34% y-o-y to EGP 29 mn, which the bank attributed to the incentive fees related to the Vezeeta exit in 1Q2020.<\/p>\n<p><strong>The way ahead: <\/strong>\u201cThe variables impacting our outlook for 2021 remain plentiful and difficult to predict. Nonetheless, the group will continue leveraging its comprehensive capacities across its operations and capitalizing on what we hope will be an improving external environment as consumers and businesses adjust to the covid-19 situation, to deliver solid results and sustainable value for the remainder of the year,\u201d Awad said.<\/p>\n<p><strong>Integrated Diagnostics Holding (IDH) saw net income rise 21% to EGP 609 mn in 2020<\/strong> from EGP 505 mn the previous year, according to <a href=\"https:\/\/ent.news\/2021\/5\/IDH-FY2020-Earnings-Release-FINAL-4.pdf\">a company earnings release (pdf)<\/a>. Bottom line growth was supported by a 19% rise in revenues, which hit EGP 2.65 bn from EGP 2.22 bn in 2019. This came on the back of the covid-19 pandemic, which provided the company with new sources of revenue. IDH set up PCR testing facilities in Egypt and Jordan, and ramped up its house call services.<\/p>\n<p><strong>IDH ups dividend:<\/strong> The company has recommended it pay out shareholder dividends of some USD 0.049 per share, amounting to a total payout of USD 29.1 mn for 2020, up 4% from 2019 despite the impact of covid-19.<\/p>\n<p><strong>Going forward:<\/strong> The company is expecting double-digit revenue growth and a 40% EBITDA margin through 2021 on the back of a continued economic and health recovery in its key markets.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 rose 0.2% at today\u2019s close<\/strong> on turnover of EGP 1.82 bn (31.5% above the 90-day average). Regional investors were net buyers. The index is down -0.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>Qalaa Holdings (+3.4%), MM Group (+3.1%) and Edita (+3.1%).<\/p>\n<p><strong>In the red: <\/strong>Orascom Development Egypt (-2.7%), GB Auto (-2.2%) and Heliopolis Housing (-1.6%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- EFG Hermes\u2019 net income more than tripled to EGP 292 mn in 1Q2021, up from EGP 90 mn in the same period last year, the financial services giant said in its earnings release (pdf) this morning. Revenues jumped 30% to EGP 1.3 bn from EGP 965 mn in 1Q2020, driven by \u201crobust results\u201d [&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":[302,409,84,633,642,1406,1473],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565969","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-earnings","tag-earnings-watch","tag-efg-hermes","tag-enterprisepm","tag-go-with-the-flow","tag-integrated-diagnostics-holding","tag-investment-banking","wpautop","entry"],"acf":{"mongo_id":"2132aa9c-4dcf-4d91-a6f7-e5c4d1990de1","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[565959],"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: EFG Hermes, IDH - 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\/05\/19\/earnings-watch-efg-hermes-idh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch: EFG Hermes, IDH\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- EFG Hermes\u2019 net income more than tripled to EGP 292 mn in 1Q2021, up from EGP 90 mn in the same period last year, the financial services giant said in its earnings release (pdf) this morning. Revenues jumped 30% to EGP 1.3 bn from EGP 965 mn in 1Q2020, driven by \u201crobust results\u201d [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-19T13:43:44+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\/05\/19\/earnings-watch-efg-hermes-idh\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Earnings Watch: EFG Hermes, IDH\",\"datePublished\":\"2021-05-19T13:43:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/\"},\"wordCount\":413,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"earnings\",\"earnings watch\",\"EFG Hermes\",\"EnterprisePM\",\"Go with the Flow\",\"Integrated Diagnostics Holding\",\"investment banking\"],\"articleSection\":[\"GO WITH THE FLOW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/\",\"name\":\"Earnings Watch: EFG Hermes, IDH - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2021-05-19T13:43:44+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Earnings Watch: EFG Hermes, IDH\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Earnings Watch: EFG Hermes, IDH - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/earnings-watch-efg-hermes-idh\/","og_locale":"en_US","og_type":"article","og_title":"Earnings Watch: EFG Hermes, IDH","og_description":"EARNINGS WATCH- EFG Hermes\u2019 net income more than tripled to EGP 292 mn in 1Q2021, up from EGP 90 mn in the same period last year, the financial services giant said in its earnings release (pdf) this morning. 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Revenues for the quarter doubled y-o-y to EGP 1 bn as net contracted\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544902,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/27\/efg-hermes-net-income-up-12-in-2021\/","url_meta":{"origin":565969,"position":2},"title":"EFG Hermes\u2019 net income up 12% in 2021","author":"enterpriseam admin","date":"27 March 2022","format":false,"excerpt":"EFG Hermes\u2019 net income rose 12% y-o-y to EGP 1.5 bn in 2021, the universal bank said in its earning release (pdf) on Thursday. The bank\u2019s bottom line growth was supported by a 12% rise in revenues which finished the year at EGP 6.1 bn.Revenue growth of 19% in 4Q2021\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":592978,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/13\/earnings-watch-efg-hermes-suez-cement-tourah-cement-raya-contact-center-at-lease\/","url_meta":{"origin":565969,"position":3},"title":"Earnings watch: EFG Hermes, Suez Cement, Tourah Cement, Raya Contact Center, AT Lease","author":"enterpriseam admin","date":"13 November 2019","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes\u2019s net profit after tax and minority interest rose 34% to EGP 358 mn in 3Q2019, compared to EGP 279 mn in 3Q2018, according to the company\u2019s earnings release (pdf). Revenues grew 25% to reach EGP 1.2 bn during the quarter. On a nine-month basis, the regional\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/efg-hermes-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584053,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/efg-hermes-and-orascom-construction-report-higher-revenues-in-2022\/","url_meta":{"origin":565969,"position":4},"title":"EFG Hermes and Orascom Construction report higher revenues in 2022","author":"enterpriseam admin","date":"26 March 2023","format":false,"excerpt":"Investment bank and non-bank lending sees strong growth","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\/3\/428.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546738,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/26\/earnings-efg-hermes-contact-financial-elsewedy-electric-report-strong-1q-2022-results\/","url_meta":{"origin":565969,"position":5},"title":"Earnings: EFG Hermes, Contact Financial, Elsewedy Electric report strong 1Q 2022 results","author":"enterpriseam admin","date":"26 May 2022","format":false,"excerpt":"EFG Hermes\u2019 net income rose 18% y-o-y to EGP 345 mn in 1Q 2022, the bank said in its earning release (pdf) yesterday. Revenues were up 55% y-o-y to EGP 1.9 bn. Revenue growth was underpinned by a strong quarter for EFG\u2019s core businesses despite a challenging operating environment. 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