Qalaa Holdings Reports 2Q 2024 Results Qalaa continued to build on its strong start to the year, delivering in 2Q24 a revenue expansion of 64% y-o-y to EGP 38.2 billion following broad-based growth across the Group’s subsidiaries. Similarly, EBITDA expanded to EGP 5.6 billion during the quarter, and EBITDA excluding ERC grew 195% y-o-y.
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Qalaa Holdings Reports 1Q 2024 Results Qalaa started the year on a high note, delivering a revenue expansion of 45% y-o-y to EGP 37.6 billion following broad-based growth across most subsidiaries. Meanwhile, EBITDA stood at EGP 7.7 billion compared to EGP 9.7 billion in 1Q23, mostly driven by the normalized margins at ERC. In parallel, net income reached EGP 7.2 billion during the quarter compared to EGP 73.0 million in 1Q23 mainly on the back of the EGP 9.7 billion gain associated with the FHI settlement.
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ABANCA has advanced in its positioning strategy as an Iberian entity by finalizing the acquisition of EuroBic ABANCA. This operation, completed eight months after the purchase agreement and following approvals from the Portuguese competition authority and the European Central Bank, marks a significant milestone. The transfer of shares occurred this morning in Lisbon, attended by chairman of ABANCA, Juan Carlos Escotet Rodríguez, and CEO, Francisco Botas. During the signing, our chairman emphasized that the acquisition "makes clear strategic sense for ABANCA, given the dynamism of the Portuguese market, its economic ties with Galicia and Spain, and the synergies it brings to our project." Similarly, our CEO, noted: "With the incorporation of EuroBic, ABANCA enhances its efficiency and commercial capacity, allowing us to be closer to our customers and improve service quality. Additionally, we strengthen key business lines in our specialization model, enabling us to offer tailored responses with maximum added value." This acquisition, our tenth in ten years, positions us as the seventh largest bank in Spain and Portugal, with a workforce exceeding 8,000 professionals worldwide, and a turnover surpassing 124 billion euros. For more information, visit: https://lnkd.in/dYB2NukC #ABANCAUSA #WeAreABANCA
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Q1 insights – navigating expectations 🔎 As we wrap up the first quarter of 2024, there's a prevailing sense of optimism amongst M&A advisors across the board. After a challenging 2023, hopes are for a robust recovery. However, the year so far has come with a mixed bag of results. With the #CEE deal count dropping 30% and the deal value 51% lower than last year, it suggests that the path to recovery may yet be ahead. The year did not start without some interesting deals being announced 👇 🔸 GasNet sro stake sale to CEZ as - €846m, 🔸 Telekom Serbia tower portfolio sale to Actis LLP and PortfoLion Capital Partners - €400m, 🔸 OTP Bank Romania S.A. sale to Banca Transilvania - €347m, 🔸 TAMEH Holding stake sale to AM Global Holding Sarl - €137m, 🔸 Omnetic stake sale to Credit Value Investments Sp z oo - €137m, We are happy that Intralinks has supported Telekom Serbia and OTP Bank Romania in two of the five largest deals of the year so far and looking forward to seeing other significant deals announced soon! #dealmaking #mna #intralinks (Source: Mergermarket, 2024)
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What a great update we have to share!!! In this 3Q ABANCA earned EUR 988M with a recurrent profitability of 16.9% We become one of the strongest groups in the Iberian Peninsula after the incorporation of EuroBic, increasing our business volume to over 127,000 million euros. ABANCA keeps its strong profitability driven by efficient business growth and sound balance sheet management. Significant growth in all business lines and geographies, attracting over 100,000 new clients in Spain and Portugal. When talking about growth, new credit production increased by 12.5% and client resources by 21.5% year-over-year. On efficiency and solvency matters, expenses-to-income ratio is well below 50% and an strong CET1 ratio of 12.8%!!
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Ms. Wilka Toppins had the honor of being interviewed by media in Ho Chi Minh City while attending the IIUSA EB5 conference this past week. 🙌 "Vietnam is an exciting and growing market for EB5 investors," says Toppins. #eb5 #eb5visa #eb5investors #iiusa #vietnam #toppinslawfirm #immigrationattorneys #immigrationlaw
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✨Abu Dhabi Investment Office, Haitong Securities, and Private Equity Association Of Shanghai (#PEAS) recently organized the Abu Dhabi Investment Promotion Workshop in #Shanghai. Bill Deng, the Founder and CEO of XTransfer, was invited by the Abu Dhabi Investment Office (#ADIO) to participate in this event and engage in in-depth discussions with other esteemed guests. 📢 During the forum, Bill Deng emphasized, "The #MiddleEast is increasingly connected with #China, particularly for #SMEs exporting to the Middle East, as their demand for #crossborder financial and risk control services has noticeably increased. However, the trade settlement infrastructure for #SMEs is not fully developed, and foreign trade enterprises require higher-quality and more convenient cross-border financial services." 🔥 Looking ahead, XTransfer will continue to leverage its strengths and proactively explore international markets, including #Abu Dhabi, to deliver safer and more efficient cross-border financial and risk control services for global SMEs. #XTransfer #MiddleEast #Payment #Crossborder
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Most of the financial reports reflected that the heat pump market slumpped in the first half year of 2024, esp in Europe. But we can work together and expect good recovery from now on. #EHPA #NIBE #HVAC #Heatpump #Greenenergy #R290
Today we present NIBE Group's interim report for the first half year. It has been a period characterized by major changes. The action program is being implemented as a result of major destocking in the distribution chain, continuing high interest rates and historically low housing production – at the same time, we expect a gradual improvement in demand in all three business areas in the second half of the year. Read Managing Director and CEO Gerteric Lindquist's comments about the period >>> https://lnkd.in/dpcf2XKX
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People and Culture Executive | Director @ U.S. Commodity Futures Trading Commission | Juris Doctor (J.D.) *No solicitations please.*
I am thrilled to announce the release of the CFTC's first Strategic Plan for Advancing Diversity, Equity, Inclusion, and Accessibility (DEIA Strategic Plan)! Check it out here: https://lnkd.in/edbpjfnz 🚀 After months of dedicated teamwork, collaboration, and input from all levels of our organization, we are proud to unveil a roadmap that not only reflects our commitment to fostering an equitable and inclusive workplace but also outlines actionable steps to drive meaningful change. Our DEIA Strategic Plan is more than just a document — it's a testament to our shared values and a blueprint for building a workplace where everyone feels respected, valued, and empowered to bring their authentic selves to work each day. But our work doesn't stop here. We recognize that creating a truly inclusive environment is an ongoing journey, and we are committed to continuously listening, learning, and evolving to ensure that our actions align with our values. I want to extend my deepest gratitude to my CFTC colleagues who contributed to the development of this Plan. Your passion, insights, and dedication have been instrumental in shaping our path forward. Together, let's embrace diversity, champion equity, and foster inclusion in everything we do. Together, we can create a workplace where everyone thrives. 💪🏾🌟 #Diversity #Equity #Inclusion #Accessibility #DEIAStrategicPlan #WorkplaceCulture #TogetherWeCan Kimiko Oliver Derrick Wilson Kamir Carrillo Sarah Pauly John Sim
Chairman Behnam Announces CFTC’s First DEIA Strategic Plan: https://lnkd.in/edbpjfnz