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e-Finance for Financial and Digital Investments SAE (EGX code: EFIH.CA) today announced its financial and operational results for the first half period ending June 30, 2025. Revenues increased by 41.5% year-on-year to record approximately EGP 3.2 billion, driven by the strong performance of all subsidiaries. On the profitability front, operating earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 60.5% year-on-year to record approximately EGP 1.6 billion during the first half of 2025, accompanied by an EBITDA margin growth of 5.9 percentage points to 50.1% during the same period. Net profit after minority interests increased by 44.0% year-on-year to approximately EGP 1.1 billion during the first half of 2025, accompanied by a 0.6 percentage point increase in the net profit margin to 34.0% during the same period. On the other hand, adjusted net profit1 (including the provision for non-cash expenses for the employee reward and incentive system after tax) increased by 65.2% year-on-year to approximately EGP 1.3 billion during the first half of 2025.

Income Statement Summary

(EGP Million) Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change
Total Consolidated Revenues 1,610.7 1,134.1 42.0% 3,229.8 2,283.3 41.5%
E-Finance Revenues 1,420.9 1,047.4 35.7% 2,827.5 2,078.8 36.0%
eNovate Revenues 115.3 76.7 50.4% 223.0 180.5 23.6%
Khalis Digital Payment Services Company Revenues 33.3 29.7 12.0% 64.2 65.1 -1.4%
Enabel Outsourcing Services Company Revenues 37.8 27.5 37.4% 72.0 53.7 34.1%
eAswaaq E-Market Operation Technology Company Revenues 102.3 86.4 18.5% 220.3 159.8 37.9%
Inter-subsidiary transaction exclusions (98.9) (133.5) -25.9% (177.1) (254.5) -30.4%
Cost of sales (691.8) (612.9) 12.9% (1,412.4) (1,135.8) 24.4%
Total Profit 918.9 521.2 76.3% 1,817.4 1,147.5 58.4%
Gross Profit Margin 57.1% 46.0% 11.1% 56.3% 50.3% 6.0%
Selling, General, and Administrative Expenses (177.2) (120.5) 47.1% (331.3) (255.5) 29.7%
Selling, General, and Administrative Expenses to Revenue Ratio (%) 11.0% 10.6% 0.4% 10.3% 11.2% -0.9%
Operating EBITDA 812.2 462.0 75.8% 1,618.8 1,008.8 60.5%
Operating EBITDA Margin Interest, depreciation, and amortization 50.4% 40.7% 9.7% 50.1% 44.2% 5.9%
Net profit after minority interests 495.9 300.2 65.2% 1,098.1 762.7 44.0%
Net profit margin 30.8% 26.5% 4.3% 34.0% 33.4% 0.6%
Adjusted net profit after equity 638.2 300.2 112.6% 1,267.5 767.2 65.2%
Adjusted net profit margin 39.6% 26.5% 13.2% 39.2% 33.6% 5.6%
Revenues increased at a 41.5% annual rate to approximately EGP 3.2 billion during the first half of the year 2025, driven by the strong performance of all subsidiaries. The financial institutions technology company, e-Finance, was the main driver of the group's revenue growth during the period, driven by revenue growth across most of its subsidiaries, in addition to strong contributions from eNovate, eAswaaq, Khalis, and eNabel. During the second quarter of this year alone, the group's revenues increased by 42.0% year-on-year to approximately EGP 1.6 billion.
After excluding transactions between subsidiaries, e-Finance continued to be the largest contributor to the group's total revenues, with revenues increasing by 36.0% year-on-year to approximately EGP 2.8 billion during the first half of 2025, representing 87% of the group's total revenues for the period. This strong performance was driven by revenue growth in the transaction management and cloud computing services sectors. Revenues from the Transaction Management segment increased by 40.0% year-on-year to approximately EGP 1.1 billion during the first half of 2025, driven by a 59.5% year-on-year increase in variable-fee transaction revenues to EGP 825.5 million, and a 5.4% year-on-year increase in fixed-fee transaction revenues to EGP 308.4 million during the same period. Revenues from the Cloud Computing Services segment also increased by 63.1% year-on-year to approximately EGP 1.2 billion during the first half of 2025. On the other hand, revenues from the Integrated Solutions segment for network development and management services declined by 7.1% year-on-year to EGP 446.2 million during the period.
Excluding intercompany transactions, eNovate's revenues increased by 112.5% year-on-year to EGP 175.1 million during the first half of 2025, driven by higher card management and production revenues. Khalis' revenues increased by 8.3% year-on-year to EGP 45.4 million during the first half of 2025. E-Nabl's revenues increased by 510.7% year-on-year to EGP 42.8 million. eAswaaq's revenues increased by 87.6% year-on-year to EGP 145.3 million during the first half of 2025, driven by growth in e-commerce revenues and a rise in revenues from the digital lending platform during the period. On the profitability front, gross profit increased by 58.4% year-on-year to EGP 1.8 billion during the first half of 2025, accompanied by a 6.0 percentage point growth in gross profit margin to 56.3%, driven by higher revenue contribution from higher-margin sales (particularly in the transaction management and cloud computing services segments). During the second quarter,