Bonyan reports EGP 417M net profit in Q1 2025
Updated 7/22/2025 9:07:00 AM
Arab Finance: Bonyan for Development and Trade (BONY.CA) recorded a net profit of EGP 417 million in the first quarter (Q1) of 2025, compared to EGP 568.2 million in the same period last year, as per an emailed press release.
The company attributed the decrease to one-off IPO expenses, the postponement of sales, and lower FMV gains amid easing inflation.
Rental and service charge revenues rose to EGP 158.9 million in Q1 2025, up by 51% from EGP 105.3 million in the same period last year.
This increase was supported by contract renewals and annual contractual escalations.
The company’s gross asset value (GAV) reached EGP 16.6 billion in Q1 2025, compared to EGP 15.96 billion at the end of 2024, based on a valuation conducted by an independent Financial Regulatory Authority (FRA)-approved third party covering all 10 of its assets.
Fair market value (FMV) gains amounted to EGP 526.2 million in Q1 2025, reflecting an increase in investment properties.
This compares to EGP 685.8 million in Q1 2024, when inflation of 33.0%, versus 16.8% in Q1 2025, had a greater impact on valuations.
Bonyan noted that its balance sheet excludes two assets totaling 15,066 square meters that are yet to be delivered.
The company reported no sales revenues from retail units in Q1 2025, following management’s decision to defer sales at the Walk of Cairo to allow for the repricing of its remaining inventory. In Q1 2024, sales revenues amounted to EGP 76.1 million.
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