{"id":584770,"date":"2023-04-05T00:00:00","date_gmt":"2023-04-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/05\/b-investments-earnings-surge-in-2022-on-giza-systems-exit\/"},"modified":"2023-04-05T00:00:00","modified_gmt":"2023-04-05T00:00:00","slug":"b-investments-earnings-surge-in-2022-on-giza-systems-exit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/05\/b-investments-earnings-surge-in-2022-on-giza-systems-exit\/","title":{"rendered":"B Investments\u2019 earnings surge in 2022 on Giza Systems exit"},"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\">B <\/span><span style=\"font-weight:700\">Investments\u2019 <\/span><span style=\"font-weight:700\">net<\/span><span style=\"font-weight:700\"> income grew eightfold year-on-year to EGP 846 mn in 2022<\/span><span style=\"\">, according <\/span><span>to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/B-Investments-FY22-Earnings-Release_125.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span>. The private equity firm\u2019s revenues jumped more than ninefold to EGP 1.5 bn, driven by an EGP 1.4 bn capital gain from its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c36b7a05-9d2e-4244-bb23-a48d8d0e4880\" style=\"\">Giza Systems exit<\/a><\/span><span style=\"font-weight:400;\">, the release says.<\/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\">Two big exits in four months bring capital<\/span><span style=\"font-weight:700\"> gains<\/span><span style=\"font-weight:700\">: <\/span><span>The EGX-listed firm divested its 44.7% in Giza Systems in October at a company valuation of <\/span><span>USD 128 mn<\/span><span>, according to head of investor relations Omar El Labban. The exit drive has continued in 2023: The company sold its 6.4% stake in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caae4b10-c2bc-4ad7-a628-96db2d5f86a1\" style=\"\">Total Energies<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caae4b10-c2bc-4ad7-a628-96db2d5f86a1\" style=\"\">Egypt<\/a><\/span><span> for USD 27.6 mn in February. The transaction yielded an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33e3757d-a1c9-4ef9-9f8f-76a5f7bee4cf\" style=\"\">additional USD 2.2 mn<\/a><\/span><span> for B Investments when <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75784c1b-8241-45cc-affa-165e236ca996\" style=\"\">Adnoc acquired<\/a><\/span><span style=\"font-weight:400;\"> a 50% stake in Total Energies in February, El Labban told us, adding that the combined net proceeds of the exits have amounted to c. EGP 1.6 bn. More than half of the proceeds will be allocated to cash and stock dividends, and the remainder to fresh investments, he said.<\/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\">What they said:<\/span><span style=\"font-weight:400;\"> \u201c2022 was an exceptional year given our exit from Giza Systems,\u201d El Labban said. \u201cWe believe that 2023 will be another excellent year, given that the TotalEnergies Egypt exit will buoy 1Q 2023 earnings.\u201d <\/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\">Looking ahead: <\/span><span style=\"\">\u201cOur future plan is making more investments, building our portfolio and creating value for our existing portfolio companies,\u201d El Labban said, explaining that the firm is targeting companies in consumer-driven sectors \u2014 such as healthcare, pharma, education, and FMCGs \u2014 as well as exporters. <\/span><span style=\"\">The company\u2019s board <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14df0f62-b573-4629-8bef-d23f826e508c\" style=\"\">in March<\/a><\/span><span style=\"\"> signed off on investing up to EGP 500 mn in the Sovereign Fund of Egypt\u2019s (SFE) healthcare and pharma sub-fund.<\/span><span style=\"\"> Company chairman Hazem Barakat <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83c5f1c0-b4a5-4f59-8062-7ebfb92072ba\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> earlier this year that B Investments is working on acquisitions in the pharma and food sectors, and will invest EGP 2 bn. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Giza Systems exit drives revenue growth<\/p>\n","protected":false},"author":1,"featured_media":584771,"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":[140,409,72,758],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-584770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-b-investments","tag-earnings-watch","tag-enterpriseam","tag-private-equity","wpautop","entry"],"acf":{"mongo_id":"fa2d7b36-f5be-43b3-83f5-4d33be56ee01","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/126.jpg","photo_position":"above","homepage_title":"","full_issue_title":"B Investments\u2019 earnings surge in 2022","related_issue":[584757],"teaser":"Giza Systems exit drives revenue growth","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.15511a5b-3346-494d-9360-4b2236d0ad46.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Meanwhile, B Investments could close the sale of its\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578994,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/flush-after-exits-b-investments-targets-healthcare-food-sectors\/","url_meta":{"origin":584770,"position":1},"title":"Flush after exits, B Investments targets healthcare, food sectors","author":"enterpriseam admin","date":"22 January 2023","format":false,"excerpt":"EGX-listed private equity firm B Investments intends to invest EGP 2 bn in the healthcare and food sectors in 2023, Chairman Hazem Barakat reportedly told Bloomberg Asharq. The company hopes to close an acquisition of a healthcare company in 1Q 2023, while the transaction in the food sector is expected\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/358.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548675,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/17\/b-investments-raya-cx-raya-holding-report-2q-earnings\/","url_meta":{"origin":584770,"position":2},"title":"B Investments, Raya CX + Raya Holding report 2Q earnings","author":"enterpriseam admin","date":"17 August 2022","format":false,"excerpt":"B Investments\u2019 net income rose 74% in 2Q 2022, reaching EGP 38.15 mn, according to the company\u2019s consolidated financial statement(pdf). Revenues for the quarter came in at EGP 44.8 mn, up 19% y-o-y. The company\u2019s bottom line fell 17% y-o-y to EGP 60.5 mn in the first six months of\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\/8\/295.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581330,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/08\/b-investments-finalizes-exit-from-totalenergies-egypt\/","url_meta":{"origin":584770,"position":3},"title":"B Investments finalizes exit from TotalEnergies Egypt","author":"enterpriseam admin","date":"8 February 2023","format":false,"excerpt":"BPE Partners\u2019 B Investments has completed the sale of its entire 6.38% stake in TotalEnergies Egypt to TotalEnergies Marketing Afrique (TEMA) for USD 27.6 mn, the company said in an EGXdisclosure (pdf). The transaction came alongside a separate BPE Partners-backed vehicle\u2019s exit of its 9% stake to TEMA for USD\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/TotalEnergies-Logo-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546089,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/etisalat-misr-revenues-up-15-on-subscriber-growth-in-1q-2022\/","url_meta":{"origin":584770,"position":4},"title":"Etisalat Misr revenues up 15% on subscriber growth in 1Q 2022","author":"enterpriseam admin","date":"27 April 2022","format":false,"excerpt":"Mobile network operator Etisalat Misr reported revenues of AED 1.3 bn (c. EGP 6.55 bn) in 1Q 2022, up 15% from the same quarter last year, according to parent company e& (etisalat and)\u2019s earnings release (pdf). Top line growth was mainly driven by an increase in subscribers and mobile data\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":551187,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/earnings-watch-telecom-egypt-orascom-financial-holding-b-investments-report-1q2022-results\/","url_meta":{"origin":584770,"position":5},"title":"Earnings watch: Telecom Egypt, Orascom Financial Holding, B Investments report 1Q2022 results","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"EARNINGS WATCH-Telecom Egypt\u2019s 1Q2022 net income declined 36% y-o-y to EGP 1.40 bn, according to the company\u2019s earnings release (pdf). The telecom company\u2019s normalized net income \u2014 which excludes Vodafone Egypt\u2019s one-offs, the effect of the rising FX rate, provisions, and impairments \u2014 came in at EGP 1.7 bn, staying\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\/584770","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=584770"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584770\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/584757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/584771"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=584770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=584770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=584770"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=584770"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=584770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}