Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م10.40, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 8x in the Luxury industry in Africa. Total returns to shareholders of 168% over the past three years. 공시 • Jan 05
Arabia Cotton Ginning Company, Annual General Meeting, Feb 05, 2026 Arabia Cotton Ginning Company, Annual General Meeting, Feb 05, 2026, at 15:00 Egypt Standard Time. Location: cairo Egypt Board Change • May 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 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: Lack of independent directors. Insufficient board refreshment. 공시 • Nov 27
Arabia Cotton Ginning Company, Annual General Meeting, Dec 17, 2024 Arabia Cotton Ginning Company, Annual General Meeting, Dec 17, 2024, at 15:00 Egypt Standard Time. Location: cairo Egypt New Risk • Aug 23
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). High level of non-cash earnings (38% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (ج.م1.84b market cap, or US$37.7m). Buy Or Sell Opportunity • Aug 09
Now 22% undervalued Over the last 90 days, the stock has risen 38% to ج.م7.22. The fair value is estimated to be ج.م9.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ج.م6.36, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 9x in the Luxury industry in Africa. Total returns to shareholders of 269% over the past three years. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م6.13, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 7x in the Luxury industry in Africa. Total returns to shareholders of 267% over the past three years. Buy Or Sell Opportunity • May 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 34% to ج.م5.22. The fair value is estimated to be ج.م6.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ج.م6.16, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 7x in the Luxury industry in Africa. Total returns to shareholders of 152% over the past three years. Reported Earnings • Feb 10
First quarter 2024 earnings released First quarter 2024 results: Revenue: ج.م585.0m (up 154% from 1Q 2023). Net income: ج.م18.5m (up ج.م26.9m from 1Q 2023). Profit margin: 3.2% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Upcoming Dividend • Jan 15
Upcoming dividend of ج.م0.25 per share at 3.5% yield Eligible shareholders must have bought the stock before 22 January 2024. Payment date: 24 January 2024. Trailing yield: 3.5%. Lower than top quartile of Egyptian dividend payers (7.0%). Lower than average of industry peers (4.3%). Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م7.18, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 12x in the Luxury industry in Africa. Total returns to shareholders of 129% over the past three years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ج.م6.25, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 17x in the Luxury industry in Egypt. Total returns to shareholders of 129% over the past three years. Reported Earnings • Nov 29
Full year 2023 earnings released Full year 2023 results: EPS: ج.م1.06. Revenue: ج.م3.37b (up 62% from FY 2022). Net income: ج.م280.2m (up 121% from FY 2022). Profit margin: 8.3% (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 123% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ج.م4.66, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 9x in the Luxury industry in Africa. Total returns to shareholders of 60% over the past three years. New Risk • Aug 05
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 6.5% 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 Debt is not well covered by operating cash flow (0.5% operating cash flow to total debt). Earnings have declined by 22% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (ج.م1.15b market cap, or US$37.2m). New Risk • Jun 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 0.5% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.5% operating cash flow to total debt). Earnings have declined by 22% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (ج.م1.11b market cap, or US$35.8m). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م3.97, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 14x in the Luxury industry in Africa. Total returns to shareholders of 250% over the past three years. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ج.م2.70, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 14x in the Luxury industry in Africa. Total returns to shareholders of 280% over the past three years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ج.م3.71, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 14x in the Luxury industry in Africa. Total returns to shareholders of 194% over the past three years. Upcoming Dividend • Dec 14
Upcoming dividend of ج.م0.15 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 25 December 2022. The company last paid an ordinary dividend in October 2013. The average dividend yield among industry peers is 1.8%. Board Change • Nov 16
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). MD & Director Mohsen Mohammed Abdul Hassan was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improved over the past week After last week's 21% share price gain to ج.م2.25, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 7x in the Luxury industry in Africa. Total returns to shareholders of 18% over the past three years. Reported Earnings • Jul 01
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: ج.م765.0m (up 112% from 3Q 2021). Net income: ج.م48.2m (up ج.م71.6m from 3Q 2021). Profit margin: 6.3% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). MD & Director Mohsen Mohammed Abdul Hassan was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 01
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ج.م349.0m (up 9.5% from 2Q 2021). Net income: ج.م26.8m (up 395% from 2Q 2021). Profit margin: 7.7% (up from 1.7% in 2Q 2021). Reported Earnings • Oct 07
Full year 2021 earnings released The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: ج.م1.28b (up 18% from FY 2020). Net loss: ج.م23.0m (loss narrowed 93% from FY 2020). Reported Earnings • Mar 27
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ج.م318.6m (up 6.7% from 2Q 2020). Net income: ج.م5.41m (up ج.م8.51m from 2Q 2020). Profit margin: 1.7% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Is New 90 Day High Low • Mar 03
New 90-day low: ج.م2.83 The company is down 7.0% from its price of ج.م3.03 on 03 December 2020. The Egyptian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 29% over the same period. Reported Earnings • Oct 29
Full year earnings released Over the last 12 months the company has reported total losses of ج.م348.7m, with earnings decreasing by ج.م383.8m from the prior year. Total revenue was ج.م1.08b over the last 12 months, down 35% from the prior year.