{"id":582411,"date":"2023-03-08T00:00:00","date_gmt":"2023-03-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/"},"modified":"2023-03-08T00:00:00","modified_gmt":"2023-03-08T00:00:00","slug":"fawrys-net-income-rises-70-in-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/","title":{"rendered":"Fawry\u2019s net income rises 70% in 2022"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">E-payments giant Fawry\u2019s adjusted net income climbed 70% y-o-y to EGP 316.9 mn<\/span><span style=\"font-weight:700\"> in <\/span><span style=\"font-weight:700\">2022<\/span><span style=\"\">, according to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Fawry-Earnings-Release-7-3-2023-EN.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span style=\"\">. Revenues, meanwhile, rose 38% to EGP 2.3 bn for the year. Net income was adjusted to exclude the impact of <\/span><span style=\"\">EGP 73.2 mn<\/span><span style=\"font-weight:400;\"> in one-time expenses from Fawry\u2019s employee stock ownership program (ESOP). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">On a quarterly basis:<\/span><span style=\"\"> Adjusted net income more than tripled to EGP 137.1 mn in 4Q 2022, <\/span><span style=\"font-weight:400;\">while revenues rose 39% to EGP 651.3 mn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Banking services + microfinance underpinned revenue growth:<\/span><span style=\"\"> Fawry\u2019s banking services <\/span><span style=\"\">segment was the single largest driver of the rise in revenues, accounting for <\/span><span style=\"\">56% <\/span><span style=\"font-weight:400;\">of overall top-line growth. Revenues generated by the segment jumped 85% to EGP 760.6 mn in 2022, accounting for 33% of revenues. The microfinance segment also performed well, generating EGP 251 mn worth of revenues, up 83% and contributing 11% of total revenues.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">As did the expansion of the firm\u2019s product mix: <\/span><span style=\"\">\u201cThe primary reason behind our sustained <\/span><span style=\"\">revenue increase and market penetration levels across Egypt [is] the launch of new innovative services and an expanded offering that caters to our diverse community of customers,\u201d CEO Ashraf Sabry said in the release. He name checked the Tamweelak Fawry mobile app that <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/14\/turkish-industrial-giant-eyes-egypts-auto-sector-87064\/\" style=\"\">launched in November<\/a><\/span><span style=\"\"> and Fawry\u2019s ins. offering.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>E-payments giant Fawry\u2019s adjusted net income climbed 70% y-o-y to EGP 316.9 mn in 2022, according to its earnings release (pdf). Revenues, meanwhile, rose 38% to EGP 2.3 bn for the year. Net income was adjusted to exclude the impact of EGP 73.2 mn in one-time expenses from Fawry\u2019s employee stock ownership program (ESOP). On [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582412,"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":[72,519,183],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-enterpriseam","tag-fawry","tag-fintech","wpautop","entry"],"acf":{"mongo_id":"a3979799-ec8e-46c5-9d34-36567e5a5407","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/fawry-koshk-1600-3.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Fawry\u2019s net income rises 70% in 2022","related_issue":[582394],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.b054415f-5137-4003-aaeb-afa03ce940a0.mp3"},"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>Fawry\u2019s net income rises 70% in 2022 - 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\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry\u2019s net income rises 70% in 2022\" \/>\n<meta property=\"og:description\" content=\"E-payments giant Fawry\u2019s adjusted net income climbed 70% y-o-y to EGP 316.9 mn in 2022, according to its earnings release (pdf). Revenues, meanwhile, rose 38% to EGP 2.3 bn for the year. Net income was adjusted to exclude the impact of EGP 73.2 mn in one-time expenses from Fawry\u2019s employee stock ownership program (ESOP). On [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-08T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/fawry-koshk-1600-3.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Fawry\u2019s net income rises 70% in 2022\",\"datePublished\":\"2023-03-08T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/\"},\"wordCount\":203,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/fawry-koshk-1600-3.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Fawry\",\"Fintech\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/\",\"name\":\"Fawry\u2019s net income rises 70% in 2022 - 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WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/24.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577282,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/16\/so-many-earnings\/","url_meta":{"origin":582411,"position":5},"title":"So. Many. Earnings.","author":"enterpriseam admin","date":"16 November 2022","format":false,"excerpt":"More robust results as we go down to the wire on earnings season: Yesterday saw another flurry of earnings releases land in our inbox, with contractors, tech, and pharma firms all posting strong results. Here\u2019s the rundown:ELSEWEDY ELECTRIC-Elsewedy Electric\u2019s revenues rose 53% to EGP 62.6 bn in 9M 2022, according\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\/2022\/11\/263.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/582411","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=582411"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/582411\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/582394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/582412"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=582411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=582411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=582411"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=582411"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=582411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}