EFG-Hermes Holdings SAE 3Q2019 Results (0863T)
November 12 2019 - 1:34AM
UK Regulatory
TIDMEFGD
RNS Number : 0863T
EFG-Hermes Holdings SAE
12 November 2019
http://www.rns-pdf.londonstockexchange.com/rns/0863T_1-2019-11-12.pdf
http://www.rns-pdf.londonstockexchange.com/rns/0863T_2-2019-11-12.pdf
EFG HERMES REPORTS THIRD QUARTER 2019
GROUP EARNINGS OF EGP358 MILLION; ON OPERATING REVENUE OF EGP1.2
BILLION
Cairo, November 12(th) , 2019 - EFG Hermes reports third quarter
2019, with Group Earnings of EGP358 million on operating revenues
of EGP1.2 billion. The Group Total assets stood at EGP39.6 billion
at the end of 3Q19.
Key Highlights
3Q2019
-- EFG Hermes posted another solid set of results reflecting its
strong and diversified operations, with its Group revenues adding
another 25% Y-o-Y to reach EGP1.2 billion in 3Q19; as both its
Investment Bank and its NBFIs platforms reported strong Y-o-Y
growth;
-- Fees and commissions, which represents 74% of the Group
revenues, rose 13% Y-o-Y to EGP872 million, on the back of higher
Brokerage and Tanmeyah's revenues;
-- The NBFIs platform continues to deliver strong results, with
its revenues climbing 41% Y-o-Y to EGP299 million in 3Q19;
underpinned by Tanmeyah's robust revenue growth, with its revenues
rising 52% Y-o-Y to EGP252 million in 3Q19;
-- Sell-side revenues gained 11% to reach EGP490 million in
3Q19, on higher Brokerage revenues generated from Egypt, KSA and
Structured Products, and despite lower Investment Banking revenues
as the comparable 3Q18 was very strong;
-- Buy-side revenues declined 29% Y-o-Y to EGP84 million in
3Q19, on lower management fees booked by FIM. Meanwhile, Private
Equity revenues came flat Y-o-Y in 3Q19;
-- Capital markets & treasury operations revenue
contribution to the Group's total revenues came at 26% in 3Q19,
with its revenues increasing 79% Y-o-Y to EGP302 million. Revenues
were supported by net interest earned and realized capital
gains;
-- Group operating expenses rose 20% to EGP721 million in 3Q19,
mainly on the back of higher operating expenses related to Tanmeyah
as its operations expanded Y-o-Y, and on higher variable expenses
that increase in line with the increase in revenues. Moreover, the
Investment Bank other operating expenses were broadly flat
Y-o-Y;
-- The Group net operating profit and the net profit after tax
and minority interest climbed 34% Y-o-Y to EGP453 million and
EGP358 million, respectively; as the increase in revenues
outweighed the increase in expenses.
For full report and financial statements, please click on the
links on top of the page.
For further information:
Investor Relations Contacts
Email: investor-relations@efg-hermes.com
Group Head of IR, Budgeting and Reporting
Hanzada Nessim
Email: hnessim@efg-hermes.com
Tel: +20 (0)2 35356502
www.efg-hermes.com
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END
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