EFG-Hermes Holdings SAE FY2019 Results (5878G)
18 3월 2020 - 4:37PM
UK Regulatory
TIDMEFGD
RNS Number : 5878G
EFG-Hermes Holdings SAE
18 March 2020
http://www.rns-pdf.londonstockexchange.com/rns/5878G_1-2020-3-18.pdf
http://www.rns-pdf.londonstockexchange.com/rns/5878G_2-2020-3-18.pdf
EFG HERMES REPORTS FULL YEAR 2019
GROUP EARNINGS OF EGP1.4 BILLION; ON OPERATING REVENUE OF EGP4.8
BILLION
Cairo, March 18(th) , 2020 - EFG Hermes reports strong set of
results for the full year 2019, with Group earnings of EGP1.4
billion on operating revenues of EGP4.8 billion. The Group's total
assets stood at EGP44.4 billion at the end of FY19.
Key Highlights
FY2019
-- Buoyant quarterly set of results reported throughout 2019,
underpinned the full year performance; as the Group revenues
increased 20% Y-o-Y to EGP4.8 billion in FY19, supported by
stronger revenue delivered by the different platforms;
-- The NBFIs platform reported another strong revenues growth
for FY19, adding 52% Y-o-Y to EGP1.2 billion in FY19. This was
predominately driven by Tanmeyah's outstanding revenue growth,
which rose 66% Y-o-Y in FY19 to break the one billion mark;
-- The Sell-side revenues added 9% Y-o-Y to EGP1.5 billion in
FY19, driven by a more diversified Brokerage operations with its
revenues increasing 16% Y-o-Y to reach EGP1.2 billion mainly on
higher revenues generated from KSA, Structured Products, Kuwait,
UAE and Frontier. Meanwhile, Investment Banking revenues declined
10% Y-o-Y to EGP328 million, albeit on a more diversified and
higher deal count in FY19;
-- The buy-side revenues gained 15% Y-o-Y to EGP624 million in
FY19 on Private Equity's exit in 1Q19, with its revenues soaring
133% Y-o-Y to EGP341 million, on performance fees realized from
Vortex I & II exit. On the other hand, Asset Management
revenues weakened 29% Y-o-Y to EGP283 million, on lower management
and incentive fees as Regional AUMs contracted and on weaker
markets;
-- Capital markets & treasury revenues, which represents 29%
of the Group's revenues in FY19, rose 14% Y-o-Y to EGP1.4 billion
in FY19, mainly on higher interest income and realized capital
gains;
-- Group operating expenses rose 17% Y-o-Y to EGP3.0 billion in
FY19; thus taking employee expenses to operating revenues to 45% in
FY19, lower 1% than FY18. The increase in expenses is attributed to
higher salaries as Tanmeyah's headcount increased Y-o-Y, higher
variable portions of the employee expenses in line with the growing
revenues, and higher operating expenses related to the NBFIs
generally and Tanmeyah in particular;
-- Group net operating profits reached EGP1.8 billion in FY19,
up 26% Y-o-Y. Meanwhile, the Group reported a net profit after tax
and minority interest of EGP1.4 billion in FY19, up 36% Y-o-Y; with
both the NBFIs and the Investment Bank reporting strong growth in
their bottom lines;
-- In light of recent political situation and events in Lebanon,
and in our efforts to reflect a prudent stance amid a very fluid
situation; EFG Hermes undertook a 36% haircut (FV re-assessment) to
its investment in Credit Libanais through OCI in FY19 financial
statements. In the coming period, the management will continue to
re-assess the situation in Lebanon, and would take any necessary
actions thereafter.
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
FR FIFFDVDITLII
(END) Dow Jones Newswires
March 18, 2020 03:37 ET (07:37 GMT)
EFG (LSE:EFGD)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
EFG (LSE:EFGD)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024