Egypt Kuwait E : النتائج المالية عن الفترة المنتهية في 31 مارس 2024

+	:
+	:
[e-mail]
	ey.com	P	-

-

/

()

("") ("") - -

.

.

.""

.

" ( )

."

. . . . .

.

.

( )

)

(

)

(

()

/

() ()

.""

ALLIED FOR ACCOUNTING & AUDITING	Tel:	[phone]
P.O. Box 20, Katameya	Fax:	[phone]
Podium 1, Building No. P4	[e-mail]
Cairo Festival City	ey.com
New Cairo, Arab Republic of Egypt

LIMITED REVIEW REPORT ON INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

TO THE BOARD OF DIRECTORS OF EGYPT KUWAIT HOLDING COMPANY AND ITS SUBSIDIARIES

Introduction

We have performed a limited review on the accompanying interim condensed consolidated statement of financial position of Egypt Kuwait Holding (An Egyptian Joint Stock Company) (the "Company") and its subsidiaries (collectively, the "Group") as at 31 March 2024, and the related interim condensed consolidated statements of profit or loss and other comprehensive income, changes in equity and cash flows for the three-month period then ended. Management is responsible for the preparation and fair presentation of this interim condensed consolidated financial statements in accordance with International Accounting Standard No 34: Interim Financial Reporting ("IAS 34"). Our responsibility is to express a conclusion on these interim condensed consolidated financial statements based on our limited review.

Scope of Limited Review

We conducted our limited review in accordance with the International standard on review engagements (2410) "Limited Review of Interim Financial Statements Performed by the Independent Auditor of the Entity". A limited review of consolidated interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters and applying analytical and other limited review procedures. A limited review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on these interim condensed consolidated financial statements.

The financial statements for the year ended 31 December 2023 and the period ended 31 March 2023 were audited by another auditor who expressed a qualified opinion on those financial statements and his report was dated on 27 February 2024 and 15 May 2023.

Basis for Qualified Conclusion

Based on the information provided to us by the management, The Group's management has not yet finalized its assessment for the purpose of applying the International Financial Reporting Standard No.

1. "Insurance Contracts" despite the fact that it should be in effect starting from 1st January 2023. We were unable to determine the financial effects of disregarding the application of the said standard on the interim condensed consolidated financial statements related to the insurance assets as of 31 March 2024 amounting to USD 8,506,318 which represent 0.57% of the group's total assets (31 December 2023 amounted to USD 10,325,648 which represent 0.6% of the group's total assets) and the insurance liabilities amounting to USD 63,169,543 which represent 5.21% of the group's total liabilities (31 December 2023 amounted to USD 92,546,450 which represent 7.27% of the group's total liabilities) as well as the retained earnings balance as of 1 January 2023.

A member firm of Ernst & Young Global Limited

LIMITED REVIEW REPORT

ON INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

TO THE BOARD OF DIRECTORS OF EGYPT KUWAIT HOLDING COMPANY AND ITS SUBSIDIARIES (Continued)

Conclusion

Based on our limited review, with the exception of the matter described in the preceding paragraph, nothing has come to our attention that causes us to believe that accompanying interim condensed consolidated financial statements do not present fairly , in all material respects, the condensed consolidated financial position of the Group as of 31 March 2024 and of its condensed consolidated financial performance and its interim condensed consolidated cash flows for the three-month period then ended in accordance with International Accounting Standard No 34: Interim Financial Reporting ("IAS 34").

Auditor

A member firm of Ernst & Young Global Limited