EARNINGS WATCH-

CI Capital reported EGP 796 mn in net income after tax and minority interest in 2022, rising 17% y-o-y. the company said in an earnings release (pdf). The group saw record revenues of EGP 3.9 bn during the year, up 9% y-o-y on a non-adjusted basis and up 37% y-o-y after normalizing for one-offs in 2021. The group’s investment bank “had another solid year having advised on multiple high-profile transactions across the ECM, DCM, and M&A space,” with investment banking revenues coming in at EGP 85 mn during the year.

Raya Holding’s net income dropped 22.6% y-o-y in 2022 to EGP 419 mn, according to the company’s financial statements (pdf). Revenues were up 21.1% y-o-y during the year to post EGP 20.4 bn.

MARKET ROUNDUP-

The EGX30 fell 3.1% at today’s close on turnover of EGP 1.8 bn (11% above the 90-day average). Local investors were net buyers. The index is up 9.2% YTD.

In the green: Egypt Kuwait Holding (+0.7%).

In the red: e-Finance (-7.8%), GB Auto (-7.7%) and Ezz Steel (-7.3%).