{"id":598132,"date":"2019-05-15T03:41:19","date_gmt":"2019-05-15T03:41:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/earnings-watch-efg-hermes-talaat-moustafa-telecom-egypt-porto-group-credit-agricole-vodafone-egypt\/"},"modified":"2019-05-15T03:41:19","modified_gmt":"2019-05-15T03:41:19","slug":"earnings-watch-efg-hermes-talaat-moustafa-telecom-egypt-porto-group-credit-agricole-vodafone-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/earnings-watch-efg-hermes-talaat-moustafa-telecom-egypt-porto-group-credit-agricole-vodafone-egypt\/","title":{"rendered":"Earnings Watch: EFG Hermes, Talaat Moustafa, Telecom Egypt, Porto Group, Credit Agricole, Vodafone Egypt"},"content":{"rendered":"<p><b>EARNINGS WATCH- EFG Hermes net profits rise 51% y-o-y in 1Q2019<\/b> to EGP 374 mn, the company <a href=\"https:\/\/ent.news\/2019\/5\/467.pdf\">announced in a statement (pdf)<\/a>. Revenues rose 42% y-o-y to reach EGP 1.3 bn, up from EGP 945 mn in 1Q2018. Earnings growth was driven by a 58% y-o-y increase in commissions and fees earnings, which reached EGP 1 bn during the quarter.<\/p>\n<p><b>Buy-side growth underpinned strong investment bank performance:<\/b> Net profits at the company\u2019s investment banking arm rose 48% y-o-y in 1Q, supported by a 199% y-o-y increase in buy-side revenues to EGP 348 mn. The sell-side business recorded revenues of EGP 322 mn, a 2% increase from 1Q2018.<\/p>\n<p><b>Looking ahead:<\/b> \u201cThis year will see us continue diversifying our product offering and expanding our geographical reach as we look to solidify our presence in existing markets and explore new, fast-growth opportunities in frontier emerging markets,\u201d Group CEO Karim Awad said. <a href=\"https:\/\/www.efghermes.com\/en\/InvestorRelations\/Earning%20Releases\/EFG%20Hermes%201Q2019%20-%20Earning%20Release.pdf\">The firm\u2019s full earnings release is here (pdf).<\/a><\/p>\n<p><b>EKH net profits jump 15% in 1Q2019 <\/b>to USD 37.5 mn, the company said in its <a href=\"https:\/\/ent.news\/2019\/5\/2557.pdf\">earnings release (pdf)<\/a>. Revenues rose 18.2% y-o-y to USD 140.2 mn during the quarter due to a \u201cbroad-based upsurge in performance across EKH\u2019s business segments.\u201d The company\u2019s Energy & Energy Related segment saw particularly strong revenue growth, rising 33% y-o-y to USD 35.3 mn. \u201cI am very pleased with our performance in the start of the year, with EKH delivering the strongest operational quarter in its history,\u201d Chairman Moataz Al Alfi said. \u201cWe have kicked-off 2019 stronger than ever with all our businesses standing on firm ground and geared for growth,\u201d he added.<\/p>\n<p><b>State-owned Telecom Egypt reported 1Q2019 net profits of EGP 1.6 bn, a 109% increase<\/b> compared to a year earlier,<a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9%20%D9%84%D9%84%D8%A7%D8%AA%D8%B5%D8%A7%D9%84%D8%A7%D8%AA%20%D8%A8%D9%8A%D8%A7%D9%86%20%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89%2014-05-2019.pdf\">the company said in an earnings release (pdf)<\/a>. The surge in profits come on the back of the revaluation of USD debt facilities following the appreciation of EGP against the greenbacks. Revenues were up 27% y-o-y to EGP 6.1 bn as data services revenues rise. Mobile subscribers reached 4.2 mn at the end of the quarter.<\/p>\n<p><b>Real estate developer Talaat Moustafa Group\u2019s 1Q2019 net profit rose 17%<\/b> y-o-y to EGP 361 mn, <a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%B7%D9%84%D8%B9%D8%AA%20%D9%85%D8%B5%D8%B7%D9%81%D9%89%20%D9%85%D8%AC%D9%84%D8%B3-14-05-2019.PDF\">the company said in a bourse filing (pdf)<\/a>. Revenues came at EGP 2.2 bn, a 39% increase compared to last year.<\/p>\n<p><b>Porto Group net profits increase 31% in 1Q2019:<\/b> Porto Group 1Q2019 net income rose 31% y-o-y to EGP 59.6 mn,<a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%A8%D9%88%D8%B1%D8%AA%D9%88%20%D9%85%D8%AC%D9%84%D8%B3-14-05-2019.pdf\">the company said in a bourse filing (pdf)<\/a>. Revenues came at EGP 417.8 mn during the quarter, compared to EGP 378.1 mn a year earlier.<\/p>\n<p><b>Credit Agricole Egypt\u2019s 1Q2019 profit rises 15.3%:<\/b> Credit Agricole Egypt reported 1Q2019 profits of EGP 693.8 mn, a 15.3% increase compared to a year earlier,<a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D9%85%D8%AC%D9%84%D8%B3%20%D9%83%D8%B1%D9%8A%D8%AF%D9%89%20%D8%A7%D8%AC%D8%B1%D9%8A%D9%83%D9%88%D9%84%20%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89%2014-05-2019.pdf\">the lender said in a bourse filing (pdf)<\/a>.<\/p>\n<p><b>Vodafone said service revenues from Egypt grew 14.7% y-o-y in 9Q2018-19 <\/b>\u201csupported by growing data usage and a price increase,\u201d according to the company\u2019s <a href=\"https:\/\/www.vodafone.com\/content\/dam\/vodafone\/investors\/financial_results_feeds\/year-ended-31-march-2019\/FY-2019-Press-Release-FINAL.pdf\">earnings release (pdf)<\/a>. The group\u2019s total global revenues dropped 6.2% y-o-y to GBP 43.7 bn, down from GBP 46.6 bn during the same period last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- EFG Hermes net profits rise 51% y-o-y in 1Q2019 to EGP 374 mn, the company announced in a statement (pdf). Revenues rose 42% y-o-y to reach EGP 1.3 bn, up from EGP 945 mn in 1Q2018. Earnings growth was driven by a 58% y-o-y increase in commissions and fees earnings, which reached EGP [&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":[8572],"tags":[205,302,84,72,669,2380,1517,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598132","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-credit-agricole","tag-earnings","tag-efg-hermes","tag-enterpriseam","tag-porto-group","tag-speed-round","tag-talaat-moustafa-group","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"41fa1667-90b6-444f-b280-92cfa2a5b0fc","is_powered_by":true,"section_story_id":"5b814281-a279-49e5-8824-73f311d02e84","story_type":"1","photo_url":"","photo_position":"above","related_issue":[598114],"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, Talaat Moustafa, Telecom Egypt, Porto Group, Credit Agricole, Vodafone Egypt - 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\/2019\/05\/15\/earnings-watch-efg-hermes-talaat-moustafa-telecom-egypt-porto-group-credit-agricole-vodafone-egypt\/\" \/>\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, Talaat Moustafa, Telecom Egypt, Porto Group, Credit Agricole, Vodafone Egypt\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- EFG Hermes net profits rise 51% y-o-y in 1Q2019 to EGP 374 mn, the company announced in a statement (pdf). 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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":628836,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/","url_meta":{"origin":598132,"position":1},"title":"Earnings Watch: EFG Hermes, Ibnsina Pharma, Oriental Weavers, Arabian Cement, Global Telecom, Faisal Islamic Bank report 1Q2018 results","author":"enterpriseam admin","date":"15 May 2018","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes reported a net profit after tax and minority interest of EGP 249 mn in 1Q2018, marking a 6% y-o-y increase \u201cwhen adjusting for one-off gains related to the sale of our stake in Lebanese bank Credit Libanais in the comparable period last year.\u201d Revenues also increased\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":637524,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/19\/earnings-watch-efg-hermes-erc-credit-agricole-egypt\/","url_meta":{"origin":598132,"position":2},"title":"Earnings Watch: EFG Hermes, ERC, Credit Agricole Egypt","author":"enterpriseam admin","date":"19 November 2017","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes reported a 476% y-o-y increase in net profit after tax and minority interest to EGP 237 mn in 3Q2017. Revenues also increased by 184% y-o-y to EGP 834 mn. CEO Karim Awad. \u201cThe final months of 2017 will see us make important headway in our strategic\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":593060,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/17\/earnings-watch-sodic-telecom-egypt-tmg-amer-group\/","url_meta":{"origin":598132,"position":3},"title":"Earnings watch: SODIC, Telecom Egypt, TMG, Amer Group","author":"enterpriseam admin","date":"17 November 2019","format":false,"excerpt":"EARNINGS WATCH- SODIC\u2019s 3Q2019 net profits came in at EGP 168 mn, with a profit margin of 12%, the company said in an earnings statement (pdf) on Thursday. Revenues for the quarter more than doubled y-o-y to EGP 1.4 bn with net contracted sales recording EGP 614 mn, dropping y-o-y\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":642534,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/earnings-watch-efg-hermes-beltone-financial-otmt-orascom-development-egypt-te-domty\/","url_meta":{"origin":598132,"position":4},"title":"Earnings Watch: EFG Hermes, Beltone Financial, OTMT, Orascom Development Egypt, TE, Domty","author":"enterpriseam admin","date":"16 August 2017","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes reported a net profit after tax and minority interest from continued operations of EGP 395 mn in 2Q2017, up 718% y-o-y. EFG Hermes said its operating revenues increased by 252% to cross the EGP 1 bn in 2Q2017. \u201cOur strategy to diversify our lines of business\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":621697,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/15\/earnings-watch-ekh-b-investments-tmg-te-report-q32018-results\/","url_meta":{"origin":598132,"position":5},"title":"Earnings watch: EKH, B Investments, TMG, TE report Q32018 results","author":"enterpriseam admin","date":"15 November 2018","format":false,"excerpt":"EARNINGS WATCH- Investment company Egypt Kuwait Holding (EKH) saw its 3Q2018 revenues rise 37% y-o-y to USD 118.6 mn, the company announced yesterday (pdf). Revenue growth was driven by strong operational performance in the fertilizers and petrochemicals segment, as well as healthy growth in the energy sector. Bottom line for\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598132","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=598132"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598132\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/598114"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=598132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=598132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=598132"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=598132"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=598132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}