{"id":579693,"date":"2022-11-14T13:42:11","date_gmt":"2022-11-14T13:42:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/"},"modified":"2022-11-14T13:42:11","modified_gmt":"2022-11-14T13:42:11","slug":"its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/","title":{"rendered":"It\u2019s earnings season: Credit Agricole, ADIB, Telecom Egypt, Abu Qir, AMOC, TMG"},"content":{"rendered":"<p><strong>EARNINGS WATCH-<\/strong><\/p>\n<p><strong>Credit Agricole Egypt\u2019s net income after tax rose 37.4% y-o-y in 9M 2022 to EGP 1.6 bn<\/strong>, according to its <a href=\"https:\/\/ent.news\/2022\/11\/Credit-Agricole-Egypt-9M2022.pdf\">financial statement<\/a><a href=\"https:\/\/ent.news\/2022\/11\/Credit-Agricole-Egypt-9M2022.pdf\">(pdf)<\/a>. The bank\u2019s net interest income rose 15% y-o-y to EGP 4.4 bn during the period.<\/p>\n<p><strong>Abu Dhabi Islamic Bank Egypt\u2019s (ADIB) net income rose 49% to EGP 1.5 bn in 9M 2022<\/strong>, according to its <a href=\"https:\/\/ent.news\/2022\/11\/284544_1.pdf\">financial statement (pdf)<\/a>. The bank\u2019s revenues rose 35% y-o-y to EGP 4.07 bn, while its net interest income rose 32% to EGP 3.43 bn.<\/p>\n<p><strong>Telecom Egypt\u2019s 9M 2022 net income was essentially flat y-o-y at EGP 6.2 bn<\/strong>, while its normalized bottom line for the period (excluding one-offs \u2014 Vodafone reversals, provisions, and FX impacts) rose 25% y-o-y to EGP 7.1 bn, according to its <a href=\"https:\/\/ent.news\/2022\/11\/Telecom-Egypt-3Q-2022-EN.pdf\">earnings release (pdf)<\/a>. The company\u2019s consolidated revenues rose to EGP 32.3 bn, up 22% y-o-y.<\/p>\n<p><strong>Abu Qir Fertilizers and Chemical Industries\u2019 net income rose to EGP 2.8 bn in 3Q 2022,<\/strong><strong> up 115% y-o-y<\/strong>, according to its <a href=\"https:\/\/ent.news\/2022\/11\/Abu-Qir-3Q-2022.pdf\">financial statements (pdf)<\/a>. The company\u2019s revenues surged to 80% y-o-y to EGP 4.8 bn.<\/p>\n<p><strong>Alexandria Mineral Oil Company\u2019s (AMOC) bottom line rose 74% y-o-y in 3Q 2022<\/strong> to register EGP 398.6 mn, according to its <a href=\"https:\/\/ent.news\/2022\/11\/AMOC-3Q-2022.pdf\">financial statement (pdf)<\/a>. The company\u2019s top line rose 60% y-o-y to EGP 6.0 bn.<\/p>\n<p><strong>Talaat Moustafa Holding\u2019s bottom line rose 15% y-o-y in 9M2022<\/strong> to register EGP 1.97 bn, according to its <a href=\"https:\/\/ent.news\/2022\/11\/Talaat-Moustafa-9m2022.pdf\">earnings release (pdf)<\/a>. The company\u2019s top line rose 23% y-o-y to EGP 13.9 bn.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 rose 1.3% at today\u2019s close<\/strong> on turnover of EGP 3.05 bn (63.3% above the 90-day average). Local investors were net buyers. The index is up 1.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>Fawry (+6.6%), Eastern Company (+3.6%) and Palm Hills Development (+3.6%).<\/p>\n<p><strong>In the red: <\/strong>Oriental Weavers (-5.3%), CIRA (-3.4%) and GB Auto (-2.7%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 bn in 9M [&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":[469,1133,205,409,633,642,6610],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-579693","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-abu-dhabi-islamic-bank","tag-amoc","tag-credit-agricole","tag-earnings-watch","tag-enterprisepm","tag-go-with-the-flow","tag-talaat-moustafa-holding","wpautop","entry"],"acf":{"mongo_id":"2c1a58c1-9e1d-4b98-bb48-3d32b7a7fa44","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[579680],"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>It\u2019s earnings season: Credit Agricole, ADIB, Telecom Egypt, Abu Qir, AMOC, TMG - 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\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s earnings season: Credit Agricole, ADIB, Telecom Egypt, Abu Qir, AMOC, TMG\" \/>\n<meta property=\"og:description\" content=\"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 bn in 9M [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-14T13:42:11+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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"It\u2019s earnings season: Credit Agricole, ADIB, Telecom Egypt, Abu Qir, AMOC, TMG\",\"datePublished\":\"2022-11-14T13:42:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/\"},\"wordCount\":284,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Abu Dhabi Islamic Bank\",\"AMOC\",\"Credit Agricole\",\"earnings watch\",\"EnterprisePM\",\"Go with the Flow\",\"Talaat Moustafa Holding\"],\"articleSection\":[\"GO WITH THE FLOW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/its-earnings-season-credit-agricole-adib-telecom-egypt-abu-qir-amoc-tmg\/\",\"name\":\"It\u2019s earnings season: Credit Agricole, ADIB, Telecom Egypt, Abu Qir, AMOC, TMG - 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The company\u2019s revenues rose 72% y-o-y during the nine-month period to EGP 12.26 bn. Credit Agricole Egypt\u2019s bottom line rose 30% y-o-y in 1Q 2022\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":551986,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/earnings-watch-credit-agricole\/","url_meta":{"origin":579693,"position":1},"title":"Earnings Watch: Credit Agricole","author":"enterpriseam admin","date":"3 August 2022","format":false,"excerpt":"EARNINGS WATCH- Credit Agricole Egypt\u2019s net income after tax rose 32.4% y-o-y in 1H 2022, recording EGP 1.02 bn, according to its financial statement (pdf). The bank\u2019s net interest income rose 13.6% y-o-y to EGP 1.64 bn during the quarter. EDITOR'S NOTE- This story was corrected on 9 August, 2022\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":544233,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/20\/earnings-watch-adib-odin-investments-egytrans-suez-canal-bank-and-egbank-report-2021-results\/","url_meta":{"origin":579693,"position":2},"title":"Earnings watch: ADIB, Odin Investments, Egytrans, Suez Canal Bank, and EGBank report 2021 results","author":"enterpriseam admin","date":"20 February 2022","format":false,"excerpt":"EARNINGS WATCH-Abu Dhabi Islamic Bank reported EGP 1.45 bn in net income in 2021, up 22% y-o-y, according to the bank\u2019s financial statement (pdf). The bank\u2019s interest income rose 13.4% y-o-y to record EGP 8.2 bn for the year.Odin Investments\u2019 losses widened to EGP 2.55 mn in 2021, from 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":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":579693,"position":3},"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":586603,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/what-the-markets-are-doing-on-14-may-2023\/","url_meta":{"origin":579693,"position":4},"title":"What the markets are doing on 14 May, 2023","author":"enterpriseam admin","date":"14 May 2023","format":false,"excerpt":"EARNINGS WATCH-Abu Dhabi Islamic Bank Egypt reported a consolidated net income after tax of EGP 1.01 bn in 1Q 2023, up 126.6% y-o-y, according to anEGX disclosure (pdf). Its net income from funds rose to EGP 1.81 bn, up 85.9% y-o-y during the same period last year. Credit Agricole\u2019s net\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":579720,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/15\/earnings-watch-ibnsina-pharma-export-development-bank\/","url_meta":{"origin":579693,"position":5},"title":"Earnings watch: Ibnsina Pharma, Export Development Bank,","author":"enterpriseam admin","date":"15 November 2022","format":false,"excerpt":"Ibnsina Pharma\u2019s net income after minority interest fell 50.6% y-o-y to EGP 119.60 mn in 9M 2022, according to the company\u2019s earnings release (pdf). Net revenue during the period inched up 0.4% y-o-y to EGP 15.81 bn.Export Development Bank of Egypt\u2019s net income rose 125.6% y-o-y to EGP 993.5 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\/579693","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=579693"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579693\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/579680"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=579693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=579693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=579693"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=579693"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=579693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}