Beltone Holding unveiled its consolidated financial and operational results for the nine months ending on September 30, 2024, Invest-Gate reports.

The company’s growth strategy continued to deliver impressive outcomes, with consolidated operating revenue soaring by 405% year-on-year to reach EGP 4.8 bn.

In terms of profitability, Beltone achieved a net profit exceeding EGP 1.13 bn in 9M2024, a substantial increase from EGP 86 mn in 9M2023.

Dalia Khorshid, Group CEO and Managing Director of Beltone Holding, remarked, “Achieving a record net profit and surpassing the EGP 1 bn mark for the first time is a testament to the group’s proficiency in executing its transformation strategy to fuel growth while ensuring sustainable profitability. This strong financial and operational performance across all business segments stems directly from the group’s agile and data-driven business model, comprehensive product offerings, and exceptional talent.”

Beltone’s NBFIs platform witnessed remarkable growth across all subsidiaries, with operating revenue escalating by 757% year-on-year to reach EGP 3.9 bn in 9M2024.

The platform’s exceptional portfolio surpassed EGP 18.7 bn due to heightened business activity and the broadening of its product range to include leasing, factoring, consumer, micro, mortgage, and the newly-introduced SME financing.

In 9M2024, Beltone Venture Capital executed six equity and follow-up investments, successfully expanding its managed portfolio to over EGP 1.5 bn. On the direct investment front, Beltone Capital reported EGP 213.4 mn in operating revenues.

Moreover, the investment bank platform sustained its robust performance, with operating revenue surging by 282% year-on-year to reach EGP 852 mn in 9M2024, driven by the expansion of brokerage operations, alternative advisory solutions, and increased asset management performance fees.

Concurrently, the investment bank’s outstanding portfolio grew to EGP 3.5 bn, marking a 465% year-on-year increase.