REG - EFG-Hermes Holdings - IFRS Consolidated Financial Statements- FY22

EFG Holding SAEAnnouncement

28/04/2023 14:30

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RNS Number : 9235X  EFG-Hermes Holdings SAE  28 April 2023

http://www.rns-pdf.londonstockexchange.com/rns/9235X_1-2023-4-28.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/9235X_1-2023-4-28.pdf)

EFG Hermes Reports IFRS Consolidated Financial Statements for the Year Ended
31 December 2022

 

For the full financial Statements please click on the link on top of the page

 

Consolidated statement of financial position

As at 31 December

 

 

                                                                2022                  2021
                                                                EGP                   EGP
                                                                                      Restated
 Assets                                                  Notes
 Cash and cash equivalents                               5       26,214,250,479       30,876,257,819
 Funded facilities to customers                          8       13,904,711,801       10,454,979,766
 Banking loans and facilities (aiBank)                   8.1     19,317,430,427       9,544,916,760
 Accounts receivable                                     7       5,569,133,136        5,611,375,904
 Investments at fair value through profit and loss       6       6,772,893,362        8,002,539,778
 Investments at fair value through OCI                   9       14,080,120,999       16,820,480,365
 Investments at amortized cost                           12      11,518,692,377       10,050,278,918
 Assets held for sale                                    11      349,701,081          310,745,145
 Equity accounted investees                              10      606,432,818          461,315,552
 Investment properties                                   13      118,984,442          125,529,472
 Property and equipment                                  14      1,636,042,509        1,522,312,110
 Goodwill and other intangible assets                    15      1,954,749,801        993,839,079
 Deferred tax assets                                     22      64,486,447           41,521,424
 Other assets                                            16      3,401,909,847        2,564,263,111
 Total assets                                                   105,509,539,526       97,380,355,203

 Liabilities
 Due to banks and financial institutions                 17      12,371,835,820       17,736,580,111
 Customer deposits                                       18      48,130,171,764       38,564,737,371
 Loan and borrowings                                     24      4,996,029,063        5,501,069,487
 Creditors and other credit balances                     21      4,982,664,616        3,531,967,772
 Accounts payable - customers credit balances FVTPL      19     379,039,443           3,890,060,348
 Accounts payable - customers credit balances                    9,595,446,350        8,537,833,096
 Issued bonds                                            20      500,000,000          550,000,000
 Provisions                                              23      903,715,808          690,001,941
 Current tax liability                                           473,873,472          363,572,503
 Deferred tax liabilities                                22      800,661,223          410,044,804
 Total liabilities                                               83,133,437,559       79,775,867,433

 Equity
 Share capital                                           25      5,838,424,030        4,865,353,355
 Legal reserve                                                   867,454,520          840,272,556
 Share premium                                                   1,668,623,811        1,668,623,811
 Other reserves                                                  3,125,555,888        783,420,592
 Retained earnings                                               7,460,139,693        6,486,918,967
 Equity attributable to owners of the Group                      18,960,197,942       14,644,589,281
 Non - controlling interests                             26      3,415,904,025        2,959,898,489
 Total equity                                                    22,376,101,967       17,604,487,770
 Total liabilities and equity                                   105,509,539,526       97,380,355,203

 

These financial statements were approved and authorised for issue on 28 April
2023 and signed by:

 

 

 

 

 

 

 Mona Zulficar  Karim Awad

 Chairperson    Group Chief Executive Officer

 

 

 

The accompanying notes form an integral part of these consolidated financial
statements.

 

Consolidated statement of profit or loss

For the year ended 31 December

                                                                Notes                   2022                                       2021

                                                                                        EGP                                        EGP
                                                                                                                                   Restated
 Interest income                                                32                      9,295,888,885                              4,416,355,205
 Interest expense                                               32                       (5,698,004,648)                           (1,831,314,272)
 Net interest income                                                                    3,597,884,237                              2,585,040,933
 Fee and commission income                                      32                      4,804,815,709                              3,395,050,747
 Fee and commission expense                                     32                       (508,239,556)                             (344,114,579)
 Net fee and commission income                                                          4,296,576,153                              3,050,936,168
 Securities' losses for investments at FVTPL                    32                       (847,026,822)                             (7,302,092)
 Changes in the fair value of investments at FVTPL              6-32                    923,031,019                                       (76,153,571)
 Dividend income                                                32                                 5,660,968                       31,853,072
 Other revenues                                                 28                      159,190,766                                146,867,227
 Gains on dereceognition of financial assets at amortized cost  32                      222,309,757                                88,347,943
 Impairment loss on financial assets - net of recoveries        29                       (726,510,890)                             (137,995,100)
 Foreign currencies exchange differences                        32                       2,495,674,925                             234,140,416
 Gains on selling assets held for sale                          32                       5,486,779                                 3,864,407
 Share of proft/(loss) from equity accounted investees          32                       76,562,049                                (14,173,369)
 Bargain purchase gain                                          15                       -                                         97,562,892
                                                                                         10,208,838,941                            6,002,988,926
 General and administrative expenses                            31                       (6,541,863,982)                           (3,796,051,268)
 Financial guarantee provision                                  23                       (21,174,484)                              (5,673,313)
 Impairment loss on goodwill and intangible assets              32                       (10,239,218)                              (16,034,698)
 Provisions                                                     23                       (156,889,673)                             (96,968,478)
 Depreciation and amortisation                                  31.2                     (296,470,780)                             (196,292,200)
 Profit before tax                                                                       3,182,200,804                             1,891,968,969
 Income tax expense                                             30                       (1,103,724,498)                           (350,195,700)
 Profit for the year                                                                     2,078,476,306                             1,541,773,269

 Attributable to:
 Shareholders of the Holding Company                                                    1,724,108,570                              1,425,807,709
 Non-controlling interests                                                              354,367,736                                115,965,560
                                                                                             2,078,476,306                             1,541,773,269

 Earnings per share:
 Basic earning per share - EGP                                                     34                1.48                                     1.27
 Diluted earnings per share - EGP                                                  34                1.48                                     1.27

 

 

The accompanying notes form an integral part of these consolidated financial
statements.

 

Consolidated statement of comprehensive income

For the year ended 31 December

 

 

                                                                                 Notes  2022                                2021
                                                                                        EGP                                 EGP
                                                                                                                            Restated
 Profit for the year                                                                     2,078,476,306                      1,541,773,269
 Other comprehensive income items:
 Items that may be reclassified to the consolidated statement of profit or loss
 Foreign operations - foreign currency translation differences                              3,210,783,015                          (15,450,147)
 Foreign currency translation differences - reclassified to profit or loss                   (852,751,863)                       (167,306,760)
 Net losses on investments in debt instruments at FVOCI- net change in fair                  (157,786,834)                         (10,639,480)
 value
 Investments at fair value through OCI - net change in fair value -                              (3,015,600)                        34,043,158
 reclassified to profit or loss
 Tax relating to such items                                                      22             24,443,416                             (930,181)
                                                                                            2,221,672,134                        (160,283,410)
 Items that will not be reclassified to the consolidated statement of profit or
 loss
 Investment at fair value through OCI - reclassified to retained Earnings                          (547,139)                             (15,659)
 Net gains on investments in equity instruments designated at fair value                        49,993,934                          10,802,502
 through OCI
 Share of other comprehensive income of equity accounted investees                      206,189                             -
 Actuarial gain/(loss) re-measurement of employees' benefits obligations         23              (4,505,067)                            971,076
 Total other comprehensive income for the year                                          2,266,820,051                            (148,525,491)
 Total comprehensive income for the year                                                4,345,296,357                           1,393,247,778

 

 Attributable to:
 Shareholders of the Holding Company        3,842,008,839             1,268,728,563
 Non-controlling interests                    503,287,518               124,519,215
                                           4,345,296,357             1,393,247,778

 

 

 

For further information:

Investor Relations Department

Email: investor-relations@efg-hermes.com

Tel: +20 (0)2 35356710

Fax: +20 (0)2 3535 7017

 

Group Head of Corporate Strategy & Investor Relations - Hanzada Nessim

Email: hnessim@efg-hermes.com

Tel: +20 (0)2 35356502

Fax: +20(0)2 3535 7017

www.efg-hermes.com

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