Date of Listing | Number of Shares Outstanding | Reuters Code: GBCO.CA | ||
9 July 2007 | 1,085,500,000 | Bloomberg Code: GBCO.EY |
1Q24 - INVESTOR FACT SHEET
GB Corp is a leading automotive company in the Middle East and non-bank financial services provider in Egypt. The company operates under two distinct segments: GB Auto, which operates the core automotive business and encompasses four primarly lines of business across Egypt,Iraq, and Jordan, and GB Capital, which oversees the operations of the Group's non-bank financial service providers.
GB Auto | GB Corp | GB Capital | ||||||
Passenger Cars | Two, Three & Four | GB Lease & | MNT-Halan | |||||
Wheelers | Factoring | |||||||
Egypt | Drive | GB Auto Rental | ||||||
Commercial Vehicles & | Trading | |||||||
Construction Equipment | ||||||||
Kaf | Bedaya | |||||||
GB Corp Stock Performance | Kredit | Forsa | ||||||
200.0 | 50,000,000.00 | Shareholding Structure | ||||||
150.0 | 40,000,000.00 | (As of 31 March 2024) | ||||||
30,000,000.00 | ||||||||
100.0 | ||||||||
20,000,000.00 | 36.6% | |||||||
50.0 | ||||||||
10,000,000.00 | 63.4% | |||||||
0.0 | 0.00 | |||||||
Jan-24 | Jan-24 | Jan-24 | Feb-24 | Feb-24 | Mar-24 | Mar-24 | ||
Volume | GB Corp Rebased | EGX30 Rebased | Ghabbour Family Free Float | |||||
Income Statement Snapshot | Three Months Ended |
(EGP million)
Total Sales Revenues
Total Gross Profit
Operating Profit
EBIT
Earnings Before Tax
Net Income / Loss
1Q23 | 1Q24 | % Change |
4,741.5 | 9,006.2 | 89.9% |
1,049.4 | 2,563.5 | 144.3% |
468.8 | 1,567.8 | 234.4% |
640.2 | 1,708.6 | 166.9% |
183.4 | 956.2 | 421.5% |
107.7 | 626.3 | 481.6% |
Balance Sheet Snapshot | As at 31 March 2024 | Regional Footprint | ||
(EGP million) | 31-Dec-23 | 31-Mar-24 | % Change | |
Total Current Assets | 19,113.6 | 27,847.1 | 45.7% | |
Total Long-Term Assets | 23,471.9 | 25,450.3 | 8.4% | |
Total Assets | 42,585.5 | 53,297.3 | 25.2% | |
Total Current Liabilities | 15,620.4 | 22,015.1 | 40.9% | |
Total Long-Term Liabilities | 5,763.2 | 6,975.2 | 21.0% | |
Non-Controlling Interest | 1,363.0 | 1,805.2 | 32.4% | |
Total Shareholder's Equity | 21,201.8 | 24,307.1 | 14.6% | |
TotalLiabilitiesandShareholder'sEquity | 42,585.4 | 53,297.3 | 25.2% |
SHARES COVERED BY | Beltone Financial | CI Capital | EFG Hermes l HC Securities | HSBC | Naeem Holding | |
Pharos Holding | |
GB Auto
Passenger Cars | 1Q24 Group Revenue | 60.9% |
Contribution | ||
- Assembly and distribution of imported completely-knocked-down (CKD) kits with a production capacity of around 80,000 units per year in Egypt
- Distribution of imported completely-built-up (CBU) vehicles in Egypt, Iraq (MG), and Jordan
- After-SalesOperations in Egypt, Iraq, and Jordan
- Financing options provided through Drive in Egypt
- Brands: Hyundai, Chery, Mazda, Changan, Haval, and MG
Trading | 1Q24 Group Revenue | 9.5% |
Contribution | ||
- Distribution of passenger car, van, truck, construction equipment and bus tires in Egypt, as well as Ready Parts in Egypt and Iraq.
- Brands: Yokohama, Lassa, Westlake, Double Coin, Goodyear, Thunderer, MRF and Sunfull
Egypt Commercial Vehicles | 1Q24 Group Revenue | 8.2% |
& Construction Equipment | Contribution | |
- Assembly and distribution of trucks
- Bus-bodymanufacturing; distribution, and export of buses
- Manufacturing and distribution of superstructures and trailers
- Distribution of earth-moving equipment, road machinery, and power generators
- Brands: Mitsubishi Fuso, Volvo Trucks and Buses, Volvo Construction Equipment, Eicher, YTO, Higer, SDLG, UD Trucks and Shacman Trucks
Two, Three & Four-Wheelers | 1Q24 Group Revenue | 2.7% |
Contribution | ||
- Assembly and distribution of motorcycles, tricycles, and quadricycles and manufacturing of components at the Badr Facility
- Financing options provided through Mashroey
- Brands: Bajaj and Lifan
Startups | 1Q24 Group Revenue | 3.7% |
Contribution | ||
- PAL distributes lubricant products at GB Auto branded and third-party points of sale in Egypt under an exclusive strategic alliance with Gazprom Neft Lubricants
- Fabrika is GB Auto's pre-owned vehicle division that offers consumers a wide variety of used cars from all manufacturers, as well as trade-in offers at GB Auto showrooms
- El Mikaneeky is a trusted professional car servicing company that provides affordable solutions to the entire car market
- GB Ventures is an entity that combines the automotive and financial know-how of GB Auto with the goal to empower Egyptian startups
- GB Logistics is an Integrated Service Provider (ISP) that specializes in the delivery of high-quality logistics services to customers in Egypt and worldwide. GB Logistics provides excellent full-service logistic solutions that add value to its appreciated partners vehicles
- Transport Vehicles Distribution (TVD) is a commercial vehicle distribution company established in partnership with El Ghalban Auto Market Group to distribute JMC and Foton branded vehicles
- Market: Egypt
- Companies: PAL, Fabrika, TVD, GB Logistics, El Mikaneeky, GB Ventures
GB Capital (Financing Businesses)
1Q24 Group Revenue | 15.0% |
Contribution |
- GB Capital oversees the operations of the group's six non-bank financial service providers, offering financing in all segments of the market
- GB Lease & Factoring provides business-to-business financial leasing services to a wide range of companies, covering all asset classes
- MNT-Halanis Egypt's largest and fastest growing non-bank lender to the unbanked, digitizing traditional banking and cash-based markets through tech and data driven solutions
- Drive provides factoring services to a diversified client base, ranging from business-to-business (SMEs) to business-to-consumer (retail), with a focus on the auto finance sector. Drive has also rolled out its digital consumer finance app "Forsa"
- GB Auto Rental offers car rental services on a quasi-operational lease basis to companies in the market
- Bedaya is a mortgage finance venture offering long-term and competitive mortgages for new move-in homes
- Kaf is a life insurance company that was acquired along with EFG Hermes to capitalize on the growing demand for insurance offerings in Egypt.
- Kredit is a SME lending company which provides financing services to Egyptian small and medium enterprises (SMEs). It also provides exceptional lending and mentoring services, facilitating SMEs' access to financial support, and fostering their growth
- GB Capital received its Sukuk issuance license from the FRA and launched GB Capital Sukuk
Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of GB Corp. Such statements involve known and unknown risks, uncertainties and other factors; undue reliance should not be placed thereon. Certain information contained herein constitutes "targets" or "forward-looking statements," which can be identified by the use of forward-looking terminology such as "may," "will," "seek," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of GB Auto may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of GB Auto is subject to risks and uncertainties.
Mansour Kabbani | Mohamed Younis | Sarah Maged | Direct: +20 (0)2 3910 0485 | ir.gb-corporation.com |
Board of Directors | Chief Investment | Investor Relations | Fax: +20 (0)2 3539 0139 | E-mail:ir@gb-corporation.com |
Member | Officer | Communications Manager | ||