Fawry increases revenue to £ 1.6 billion by 2021

The latest results from Fawry for Banking Technology and Electronic Payments showed that its revenue increased to £ 1.6 billion during the last financial year 2021, compared to £ 1.2 billion during the previous year 2020.

The consolidated results of Fawry’s business sent to the stock exchange on Thursday revealed an increase in activity costs to £ 725.8 million during 2021, compared to costs of £ 566.6 million in 2020.

The company’s consolidated net profit increased to £ 242.1 million last year, compared to a net profit of £ 223.5 million during the previous year 2020.

While the parent company’s independent lists showed a decrease in its net profit to 120.4 million pounds during 2021, compared to a net profit of 186.5 million pounds in 2020.

Immediate: EGP 0.12 per share earnings at the end of December 2021

Fawry Company
Fawry company logo

The share of the profit amounted to £ 0.12 at the end of last December (after deducting the rights of the shareholders of the parent company and owners of the controlling interests), compared to a share of £ 0.18 per share during the past year .

The company’s previous business results revealed that its net profit increased by 193 million pounds during the nine months ended 30 September, compared to a net profit of 145,1 million pounds during the comparable period of 2020.

The company’s revenue rose to 1.1 billion pounds during the period, compared to 892.7 million pounds in the comparable period last year, according to results sent to the stock exchange on 15 November.

The company’s costs also rose to £ 517.8 million at the end of September, compared to £ 404.9 million during the comparable 2020 period.

While the parent company’s independent listings showed an increase in net profit of £ 112.8 million during the aforementioned period, compared to a net profit of £ 122.4 million during the comparative period of 2020.

The company’s revenue increased to £ 742 million during the first half of 2021

Fawry company
Fawry Company

Earlier business results revealed that its net profit increased to £ 137.1 million during the first half ending last June, compared to a net profit of £ 85.9 million during the comparable 2020 period.

The company’s revenue rose to £ 742.5 million in the aforementioned half, compared to revenue of £ 549.2 million during the comparable period last year.

Activity costs also rose during the half to £ 327.3 million, compared to costs of £ 252.5 million during the comparable 2020 period.

And the share of gains rose to 0.12 pounds at the end of June 2021, compared to a share of 0.08 pounds per share at the end of June 2020, according to the consolidated lists sent to the stock exchange last 16 August is.

In the same context, the parent company’s independent lists revealed an increase in net profit to £ 90.5 million during the half, compared to £ 73.2 million during the 2020 comparative period.

Abu Dhabi Holding bought a share of shares and subscription rights worth $ 123.4 million

ADQ Holding Company - Abu Dhabi Development Holding Company
ADQ Container Company

On April 13, Fawry announced that Alpha Oryx Limited, a subsidiary of Abu Dhabi Holding Company (ADQ), had bought a 12.5% ​​stake, with a total value of $ 123.4 million.

The Emirati company bought these shares from the share of Banque Misr and the National Bank of Egypt, and the transaction included a portion of shares and subscription rights in the third capital increase currently being implemented in the stock exchange.

Fawry has taken steps in recent weeks to implement its third capital increase since listing on the stock exchange by doubling it from £ 853.6 million to £ 1.7 billion, an increase of £ 800 million.

The company has previously obtained the approval of the Financial Supervisory Authority to initiate the procedures for raising the issued and authorized capital, and the Listing Committee in the Stock Exchange also traded the subscription right during the period from 7 April to 8 May following approved. .

The company said the capital increase would enable it to strengthen its own financial resources, which would enable it to finance future expansions and defy the investment costs associated with it.

The company plans to use £ 400 million of the proceeds of the increase to invest in the areas of consumer finance, microfinance, digital insurance services and investment fund services.

It also intends to use the rest of the proceeds to fund the expansion of the financial services system available to individuals through the “My Fawry” application, as well as direct investment in companies inside and outside Egypt.

Fawry is considered as one of the most prominent electronic payment companies in Egypt, and it operates in the field of bill payment through various channels, including ATMs, mobile wallets and commercial outlets, in addition to payment via the internet. This is a company listed on the stock exchange since July 2019.

The company is currently studying the listing of a portion of the shares on the Nasdaq or New York Stock Exchange in the United States by issuing international deposit certificates, the price of which has not yet been determined or the timing of their listing. not, according to a disclosure sent to the stock exchange on January 20th.

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