• Beltone’s operating revenue jumped 405% year-on-year to EGP 4.8 billion (USD 96.9 million) for the first nine months of 2024. 
• Net profit reached EGP 1.13 billion (USD 22.8 million) in 2024, up from EGP 86 (USD 1.7 million) in 2023. 
• The platform saw a 757% increase in revenue, with significant growth in its diversified portfolio.

Beltone Holding announced its consolidated financial and operational results for the nine months ending 30 September 2024, according to a company statement.

Beltone’s growth strategy continued to yield impressive results. The company’s consolidated operating revenue increased 405% year-on-year to reach EGP4.8 billion (USD 96.9 million).

Beltone Significant Profit Growth

In terms of profitability, Beltone achieved a net profit of more than EGP1.13 billion in 2024, up significantly from EGP86 million in 2023.

Dalia Khorshid, Group CEO and Managing Director of Beltone Holding, commented, “Achieving record net profit and crossing the EGP1 billion for the first time. It is a testament to the group’s ability in delivering on its transformation strategy. It is also to generate growth while delivering sustainable profitability.

Moreover, this solid financialand operational performance across all business lines is a direct result of the group’s swift and adaptable data-driven business model, its fully-fledged product offering, and its extraordinary talent.”

Platform Performance

Beltone’s platform witnessed extraordinary growth across all subsidiaries, with operating revenue rising 757% year-on-year to reach EGP3.9 billion in 2024.

The platform’s outstanding portfolio exceeded EGP 18.7 billion due to increased business activity. Another reason is also the expansion of its product portfolio that includes, leasing, factoring, consumer, micro, mortgage, and the newly-launched SME financing.

Beltone Holding Direct Investments

Beltone Venture Capital executed six equity and follow-up investments in 2024. It also successfully increased its managed portfolio to more than EGP1.5 billion. While on the direct investment front, Beltone Capital reported EGP213.4 million in operating revenues.

Furthermore, the investment bank platform’s robust performance continued, with its operating revenue growing 282% year-on-year to record EGP852 million in 2024.

This was driven by the expansion of brokerage operations, alternative advisory solutions, and higher asset management performance fees. Meanwhile, the investment bank’s outstanding portfolio reached EGP3.5 billion, up 465% year-on-year.

One USD= 49,49 Egyptian pound