Qalaa Holdings’ 2021 consolidated revenue rises 27% YoY in 2021
Updated 5/8/2022 9:30:00 AM
ArabFinance: Qalaa Holdings (CCAP) reported a 27% year-on-year (YoY) growth in consolidated revenue for the full year ended December 31st 2021, according to the group’s 2021 business review.
The group’s revenue amounted to EGP 45.826 billion in 2021, compared to EGP 35.95 billion in 2020.
At the level of ERC’s revenue, it jumped by 32% YoY to EGP 28.50 billion last year, making up 62% of Qalaa Holdings’ topline for the year.
Excluding ERC, Qalaa Holdings’ revenues reached EGP 17.32 billion in 2021, growing by 20% YoY.
Additionally, Qalaa Holdings incurred a consolidated net loss after minority interest of EGP 2.278 billion in 2021, down by 11% from EGP 2.553 billion in 2020.
The group’s recurring earnings before interest, taxes, depreciation, and amortization (EBTIDA) soared by 178% YoY to EGP 4.13 billion in 2021 from EGP 1.48 billion in 2022.
Moreover, selling, general, and administrative expenses (SG&A) stood at EGP 1.91 billion in 2021, with a growth rate of 9% YoY, including EGP 553.5 million related to ERC.
The group also recorded an FX gain of EGP 228.6 million in last year, compared to EGP 50.9 million in 2020.
Meanwhile, consolidated debt, excluding ERC and ERC-related debt, increased to EGP 16.1 billion as of December 31st 2021 from EGP 11.8 billion at the end of December 2020.
Qalaa Holdings, formerly Citadel Capital, is an Egypt-based company engaged in private equity investment activities.
The company manages an investment portfolio that consists of 19 opportunity-specific funds and spans 14 industrial sectors such as energy, cement manufacturing, solid waste management, real estate, mining, agricultural, glass manufacturing, transportation, and metallurgy.
