![]() LogRhythm came up with a tailored approach for eFinance to reduce MTTD and MTTR to threats. ĭue to the critical nature of its service, it implemented LogRhythm security information and event management (SIEM) to enhance its cybersecurity posture with a solution it could rely on to rapidly detect and mitigate threats, support its financial and hosting services and ultimately help it safely provide its integrated digital payment platforms in Egypt. eKhales booked a 21.7% y-o-y increase in post-elimination revenue to EGP 10.9 million in 1Q2023.ĮFinance, EFIG's subsidiary, has partnered with LogRhythm to rapidly detect and mitigate threats in Egypt’s digital payment security ecosystem with LogRhythm SIEM.ĮFinance’s flagship Government Financial Network processes an annual aggregate of around 500 million transactions for 1.6 trillion Egyptian Pounds (EGP) between government payments and collections. It is worthy to note that the subsidiary’s card management services booked strong revenue growth and eCards’ management anticipates increased value generation from this revenue stream going forward. This reflects management’s decision to lower card production revenues due to an unfavorable FX environment and the impact of global supply chain constraints on chip availability. Revenue at eCards declined by 28.8% y-o-y to EGP 24.7 million after inter-company eliminations in 1Q2023 due to a 24.0% y-o-y fall in card production revenue. Solid results from the subsidiary’s transaction-based and cloud hosting revenue streams offset the 11.3% y-o-y decline in build & operate revenue in 1Q2023. Parallel to this, the subsidiary’s solid performance was further supported by a 53.4% y-o-y increase in transaction-based revenue, which came on the back of a 27.1% y-o-y increase in fixed-fee revenue and a 78.2% y-o-y increase in variable-fee revenue in 1Q2023. ![]() Cloud revenues grew by a stellar 151.3% y-o-y to EGP 207.6 million during the period. The subsidiary recorded a top-line increase of 42.4% y-o-y to EGP 714.6 million after inter-company eliminations in 1Q2023 as it continued to reap the rewards of its growing cloud hosting services. The Group’s flagship subsidiary, e-finance for Digital Operations contributed the majority of the Group’s revenue in 1Q2023, which stood at a contribution of 93% at the end of the quarter. The Group’s positive performance amidst challenging market conditions was further supported by stellar triple digit revenue growth at eAswaaq and double-digit revenue growth at eKhales during the period. Parallel to this, net profit after non-controlling interests (NCI) increased by 40.7% y-o-y to EGP 281.9 million, yielding a year-on-year net profit margin expansion of 91 basis points to 36.7% in 1Q2023.Į-finance Digital Operations continued to benefit from the growing value generated from its cloud hosting services coupled with a significant increase in revenue generated from variable-fee transactions during the period. The Group’s profitability also improved during the period, booking an EBITDA increase of 51.7% y-o-y to EGP 331.9 million and a margin expansion of 4.1 percentage points to 43.2% in 1Q2023. EFIG's consolidated revenues grew 37.3% y-o-y to EGP 768.0 million on the back of strong results delivered by e-finance Digital Operations, eAswaaq, and eKhales, in 1Q2023. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.EFIG Announced today its standalone and consolidated results for the quarter ended 31 March 2023. ![]() You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. ![]() Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. ![]()
0 Comments
Leave a Reply. |