CI Capital Holding Reports its First Quarter 2018 Consolidated Results

May 8, 2018

Revenue Reached EGP 542 million, Growing 34% Year-on-Year

Net Profit Reached EGP 82million, Growing 35% Year-on-Year


CI Capital Holding (Ticker: CICH.CA), Egypt’s leading diversified financial services group, announced today its consolidated financial results for the 3 months period ended 31st March, 2018.

Consolidated Financial and Operational Highlights

  • Total Revenues recorded EGP 542.1 million, up 34% year-on-year (y-o-y)
  • Net operating profit reached EGP 143.9 million, up 48% y-o-y
  • Net profit before tax of EGP 127.9 million, up 38% y-o-y
  • Net profit after tax and minority interest of EGP 81.9 million, up 35% y-o-y
  • Annualized ROAE of 34.7%[1], in line with management expectations for pre-capital increase ROAE
  • Revenue from leasing activities up 30%% y-o-y to reach EGP 355.8 million with a total outstanding leasing portfolio of EGP 4.1 billion at the end of Q1 2018
  • Microfinance[2] revenue and net profit up 2.6x and 3.7x y-o-y to reach EGP 64.8 million and EGP 21.0 million respectively. Total microfinance loans outstanding of EGP 526 million at the end of Q1 2018
  • Assets under Management (AuMs) reached EGP 8.1 billion, up 11% y-o-y
  • Brokerage market share reached 11.3% in Q1 2018 versus 8.8% in Q1 2017
  • Investment banking advisory fees increased 46% y-o-y to record EGP 24.3 million


Mahmoud Attalla, Chairman & Group CEO commented on Q1 2018 results:

“We are very pleased to announce our first quarter 2018 results almost one week post the first day of trading of CI Capital’s shares on the Egyptian Stock Exchange. Our financial results are a testament of how the group evolved during the past couple of years into a leading financial services group with diversified revenue streams generated from a wide range of financial services offered to our clients.

Q1 2018 was a strong quarter in which we reported a growth in revenues of 34% versus last year with revenues reaching EGP 542 million. This translated into consolidated net profit of EGP 82 million representing a growth of 35% year on year. We are very proud of reporting this strong growth while sustaining industry leading annualize return on equity of 35%.

The diversification and resilience of our revenue streams from the various lines of business, leasing, microfinance and investment banking, coupled with the expected recovery of the Egyptian economy, which we are clearly seeing signs of, make us optimistic in delivering strong financial and operation results in the year 2018.”

[1] Based on Q1 2018 ROAE of 8.7% annualized

[2] Reefy’s revenues were not consolidated prior to Q1 2018 as acquisition date was late Q4 2017, y-o-y growth rate based on Reefy’s standalone financials.

View Q1 2018 Earnings Release report