MTIE | MM Group Company Update : A Bet on Consumption Recovery With a FinTech Flavor
MM Group for Industry and International Trade (MTI) saw its revenues in FY 2020 falling 11.7% YoY to EGP8.7bn on COVID-19 outbreak, its negative consequences on international trade, and the resulting supply chain disruption. MTI managed to grow revenues by a 5-year (2016-2020) CAGR of 12%, thanks to favorable product mix and encouraging market dynamics. The most notable charge in the revenue mix was the higher contribution of the automotive segment, reaching 16% in 2020 versus 14% in FY 2019. This came at the expense of the consumer electronics segment which saw its contribution decline from ...