Board Change • May 14
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. お知らせ • Mar 12
Acrow Misr, Annual General Meeting, Apr 07, 2025 Acrow Misr, Annual General Meeting, Apr 07, 2025, at 14:30 Egypt Standard Time. Location: cairo Egypt Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ج.م75.38, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 6x in the Construction industry in Egypt. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ج.م61.27, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 11x in the Construction industry in Egypt. Total returns to shareholders of 91% over the past three years. Reported Earnings • Aug 21
Second quarter 2024 earnings released: EPS: ج.م2.80 (vs ج.م1.66 in 2Q 2023) Second quarter 2024 results: EPS: ج.م2.80 (up from ج.م1.66 in 2Q 2023). Revenue: ج.م1.12b (up 105% from 2Q 2023). Net income: ج.م154.0m (up 69% from 2Q 2023). Profit margin: 14% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 20
First quarter 2024 earnings released: EPS: ج.م7.27 (vs ج.م2.63 in 1Q 2023) First quarter 2024 results: EPS: ج.م7.27 (up from ج.م2.63 in 1Q 2023). Revenue: ج.م893.7m (up 87% from 1Q 2023). Net income: ج.م396.6m (up 174% from 1Q 2023). Profit margin: 44% (up from 30% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ج.م49.47, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 15x in the Construction industry in Egypt. Total returns to shareholders of 181% over the past three years. New Risk • Apr 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Egyptian stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (77% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (ج.م2.14b market cap, or US$44.6m). Reported Earnings • Apr 27
Full year 2023 earnings released: EPS: ج.م5.50 (vs ج.م1.75 in FY 2022) Full year 2023 results: EPS: ج.م5.50 (up from ج.م1.75 in FY 2022). Revenue: ج.م2.55b (up 62% from FY 2022). Net income: ج.م340.4m (up 253% from FY 2022). Profit margin: 13% (up from 6.1% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 32% per year. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ج.م58.28, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 18x in the Construction industry in Egypt. Total returns to shareholders of 186% over the past three years. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م50.21, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 11x in the Construction industry in Egypt. Total returns to shareholders of 120% over the past three years. Reported Earnings • Dec 21
Third quarter 2023 earnings released: EPS: ج.م1.92 (vs ج.م0.74 in 3Q 2022) Third quarter 2023 results: EPS: ج.م1.92 (up from ج.م0.74 in 3Q 2022). Revenue: ج.م779.6m (up 94% from 3Q 2022). Net income: ج.م105.5m (up 158% from 3Q 2022). Profit margin: 14% (up from 10% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 11
Upcoming dividend of ج.م3.63 per share at 3.5% yield Eligible shareholders must have bought the stock before 18 December 2023. Payment date: 20 December 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.5%. Lower than top quartile of Egyptian dividend payers (7.4%). Lower than average of industry peers (4.0%). Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ج.م54.46, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 9x in the Construction industry in Egypt. Total returns to shareholders of 291% over the past three years. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ج.م37.59, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 7x in the Construction industry in Africa. Total returns to shareholders of 210% over the past three years. Reported Earnings • Oct 06
Second quarter 2023 earnings released: EPS: ج.م1.66 (vs ج.م0.57 in 2Q 2022) Second quarter 2023 results: EPS: ج.م1.66 (up from ج.م0.57 in 2Q 2022). Revenue: ج.م545.8m (up 70% from 2Q 2022). Net income: ج.م91.2m (up 190% from 2Q 2022). Profit margin: 17% (up from 9.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Egyptian stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Earnings have declined by 9.6% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (141% payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (ج.م1.47b market cap, or US$47.4m). Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ج.م31.96, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 7x in the Construction industry in Africa. Total returns to shareholders of 192% over the past three years. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ج.م23.03, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 8x in the Construction industry in Africa. Total returns to shareholders of 102% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jul 27
First quarter 2022 earnings released: EPS: ج.م0.42 (vs ج.م1.11 in 1Q 2021) First quarter 2022 results: EPS: ج.م0.42 (down from ج.م1.11 in 1Q 2021). Revenue: ج.م427.7m (up 22% from 1Q 2021). Net income: ج.م22.9m (down 62% from 1Q 2021). Profit margin: 5.3% (down from 17% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Nov 22
Inaugural dividend of ج.م3.50 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 22 December 2021. This is the first dividend for Acrow Misr since going public. The average dividend yield among industry peers is 2.7%. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment deteriorated over the past week After last week's 24% share price decline to ج.م30.72, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 18x in the Construction industry in Africa. Total returns to shareholders of 128% over the past three years. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 20% share price gain to ج.م25.28, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 18x in the Construction industry in Africa. Total returns to shareholders of 89% over the past three years. Reported Earnings • Jul 07
First quarter 2021 earnings released: EPS ج.م1.10 (vs ج.م0.54 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ج.م351.4m (up 40% from 1Q 2020). Net income: ج.م60.9m (up 104% from 1Q 2020). Profit margin: 17% (up from 12% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 22% share price gain to ج.م21.83, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 11x in the Construction industry in Africa. Total returns to shareholders of 71% over the past three years. Reported Earnings • Apr 04
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ج.م1.04b (down 4.6% from FY 2019). Net income: ج.م117.4m (down 22% from FY 2019). Profit margin: 11% (down from 14% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ج.م18.82, the stock trades at a trailing P/E ratio of 7.4x, down from the previous P/E ratio of 9.2x. Average P/E is 10x in the Construction industry in Africa. Total returns to shareholders over the past three years are 40%. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improved over the past week After last week's 22% share price gain to ج.م19.99, the stock is trading at a trailing P/E ratio of 7.9x, up from the previous P/E ratio of 6.5x. This compares to an average P/E of 10x in the Construction industry in Egypt. Total returns to shareholders over the past three years are 46%. Is New 90 Day High Low • Feb 02
New 90-day high: ج.م18.36 The company is up 28% from its price of ج.م14.36 on 04 November 2020. The Egyptian market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 31% over the same period. Upcoming Dividend • Dec 15
First Dividend Is ج.م1.75 Per Share Will be paid on the 24th of December to those who are registered shareholders by the 22nd of December. This is the first dividend for Acrow Misr since going public. The average dividend yield among industry peers is 2.9%. Is New 90 Day High Low • Dec 08
New 90-day high: ج.م16.51 The company is up 40% from its price of ج.م11.78 on 09 September 2020. The Egyptian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 36% over the same period. Reported Earnings • Dec 05
Third quarter 2020 earnings released: EPS ج.م0.52 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ج.م263.1m (up 14% from 3Q 2019). Net income: ج.م28.4m (up ج.م23.8m from 3Q 2019). Profit margin: 11% (up from 2.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 16
New 90-day high: ج.م15.73 The company is up 32% from its price of ج.م11.91 on 18 August 2020. The Egyptian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 29% over the same period. Is New 90 Day High Low • Oct 21
New 90-day high: ج.م14.36 The company is up 18% from its price of ج.م12.14 on 22 July 2020. The Egyptian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 40% over the same period. Is New 90 Day High Low • Sep 29
New 90-day high: ج.م12.98 The company is up 6.0% from its price of ج.م12.30 on 30 June 2020. The Egyptian market is also up 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Construction industry, which is up 36% over the same period.