Contact reports 306% higher consolidated net income in Q1-25
Meanwhile, the insurance revenues hiked by 73% year-on-year (YoY) to EGP 619 million as of 31 March 2025 from EGP 357 million, according to the financial statements.
The total operating income rose by 30% to EGP 475 million in Q1-25 from EGP 365 million during the January-March period of 2024.
The group's gross written premiums (GWPs) surged by 54% YoY to EGP 1.07 billion in the first three months (3M) of 2025 from EGP 696 million.
Standalone Results
The non-consolidated net losses of Contact widened to EGP 12.17 million as of 31 March 2025 from EGP 3.85 million in Q1-24.
The standalone loss per share increased to EGP 0.010 in Q1-25 from EGP 0.003 in the same period a year ago.
The company's management commented: 'As we progress through 2025, we are confident that this positive momentum will continue, aided by stabilizing inflation, easing interest rates, and an overall improvement in economic conditions.'
'Our financing division delivered a resilient performance during the quarter, reflecting the positive impact of our strategic shift towards more profitable offerings,' it added.
In March, Contact joined forces with Fawry to enable its buy now, pay later (BNPL) service across Fawry's payment network, backing Egypt's vision to accelerate digital transformation and expand financial inclusion.
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