Price Target Changed • Jun 27
Price target increased by 24% to ج.م35.23 Up from ج.م28.50, the current price target is an average from 4 analysts. New target price is 12% above last closing price of ج.م31.50. Stock is up 33% over the past year. The company is forecast to post earnings per share of ج.م2.24 for next year compared to ج.م2.64 last year. Major Estimate Revision • May 30
Consensus EPS estimates fall by 33% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ج.م3.07 to ج.م2.04 per share. Revenue forecast steady at ج.م85.4b. Net income forecast to shrink 5.3% next year vs 30% growth forecast for Auto industry in Egypt . Consensus price target broadly unchanged at ج.م28.50. Share price rose 4.2% to ج.م26.60 over the past week. Price Target Changed • May 20
Price target decreased by 11% to ج.م28.20 Down from ج.م31.53, the current price target is an average from 3 analysts. New target price is 11% above last closing price of ج.م25.50. Stock is up 17% over the past year. The company is forecast to post earnings per share of ج.م2.58 for next year compared to ج.م2.64 last year. Board Change • May 20
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. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Board Member Lobna Dessouky was the last independent 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: Minority of independent directors. Insufficient board refreshment. Announcement • Mar 02
GB Corp, Annual General Meeting, Mar 29, 2026 GB Corp, Annual General Meeting, Mar 29, 2026, at 15:00 Egypt Standard Time. Location: giza Egypt Reported Earnings • May 18
First quarter 2025 earnings released: EPS: ج.م0.58 (vs ج.م0.58 in 1Q 2024) First quarter 2025 results: EPS: ج.م0.58 (in line with 1Q 2024). Revenue: ج.م16.8b (up 86% from 1Q 2024). Net income: ج.م626.5m (flat on 1Q 2024). Profit margin: 3.7% (down from 7.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Global Auto industry. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 79% per year, which means it is well ahead of earnings. Price Target Changed • May 14
Price target increased by 7.7% to ج.م22.45 Up from ج.م20.84, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of ج.م21.73. Stock is up 115% over the past year. The company is forecast to post earnings per share of ج.م2.96 for next year compared to ج.م2.61 last year. 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. 5 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Board Member Lobna Dessouky was the last independent 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: Minority of independent directors. Insufficient board refreshment. Announcement • Mar 04
GB Corp, Annual General Meeting, Mar 26, 2025 GB Corp, Annual General Meeting, Mar 26, 2025, at 14:00 Egypt Standard Time. Location: cairo Egypt Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: ج.م0.69 (vs ج.م0.61 in 3Q 2023) Third quarter 2024 results: EPS: ج.م0.69 (up from ج.م0.61 in 3Q 2023). Revenue: ج.م16.2b (up 85% from 3Q 2023). Net income: ج.م746.0m (up 13% from 3Q 2023). Profit margin: 4.6% (down from 7.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Global Auto industry. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Oct 02
Price target increased by 7.9% to ج.م15.10 Up from ج.م13.99, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ج.م15.26. Stock is up 173% over the past year. The company is forecast to post earnings per share of ج.م2.43 for next year compared to ج.م1.68 last year. Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: ج.م0.39 (vs ج.م0.46 in 2Q 2023) Second quarter 2024 results: EPS: ج.م0.39 (down from ج.م0.46 in 2Q 2023). Revenue: ج.م10.2b (up 69% from 2Q 2023). Net income: ج.م421.9m (down 16% from 2Q 2023). Profit margin: 4.1% (down from 8.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Global Auto industry. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 02
Price target increased by 8.5% to ج.م13.13 Up from ج.م12.10, the current price target is an average from 4 analysts. New target price is 16% below last closing price of ج.م15.62. Stock is up 141% over the past year. The company is forecast to post earnings per share of ج.م2.62 for next year compared to ج.م1.68 last year. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ج.م14.80, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Auto industry globally. Total returns to shareholders of 374% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ج.م11.95, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Auto industry globally. Total returns to shareholders of 269% over the past three years. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ج.م9.80, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Auto industry globally. Total returns to shareholders of 224% over the past three years. Price Target Changed • Mar 13
Price target increased by 17% to ج.م10.35 Up from ج.م8.87, the current price target is an average from 6 analysts. New target price is 7.6% below last closing price of ج.م11.20. Stock is up 171% over the past year. The company is forecast to post earnings per share of ج.م1.89 for next year compared to ج.م1.68 last year. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ج.م11.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Auto industry globally. Total returns to shareholders of 242% over the past three years. New Risk • Mar 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 49% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 49% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: ج.م1.68 (vs ج.م9.18 in FY 2022) Full year 2023 results: EPS: ج.م1.68 (down from ج.م9.18 in FY 2022). Revenue: ج.م28.3b (down 4.9% from FY 2022). Net income: ج.م1.89b (down 81% from FY 2022). Profit margin: 6.7% (down from 34% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Global Auto industry. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 25
Consensus EPS estimates increase by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ج.م22.5b to ج.م23.6b. EPS estimate increased from ج.م1.29 to ج.م1.56 per share. Net income forecast to shrink 81% next year vs 12% growth forecast for Auto industry in Egypt . Consensus price target broadly unchanged at ج.م9.02. Share price was steady at ج.م6.69 over the past week. Price Target Changed • Nov 23
Price target increased by 8.4% to ج.م9.02 Up from ج.م8.33, the current price target is an average from 5 analysts. New target price is 35% above last closing price of ج.م6.69. Stock is up 40% over the past year. The company is forecast to post earnings per share of ج.م1.56 for next year compared to ج.م9.18 last year. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: ج.م0.61 (vs ج.م0.50 in 3Q 2022) Third quarter 2023 results: EPS: ج.م0.61 (up from ج.م0.50 in 3Q 2022). Revenue: ج.م8.77b (up 22% from 3Q 2022). Net income: ج.م662.5m (up 20% from 3Q 2022). Profit margin: 7.6% (in line with 3Q 2022). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Auto industry. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 11
Price target increased by 9.8% to ج.م9.15 Up from ج.م8.33, the current price target is an average from 5 analysts. New target price is 48% above last closing price of ج.م6.17. Stock is up 61% over the past year. The company is forecast to post earnings per share of ج.م1.04 for next year compared to ج.م9.18 last year. Major Estimate Revision • Aug 22
Consensus revenue estimates fall by 21% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ج.م27.4b to ج.م21.5b. EPS estimate fell from ج.م1.07 to ج.م0.98 per share. Net income forecast to shrink 85% next year vs 15% growth forecast for Auto industry in Egypt . Consensus price target up from ج.م7.83 to ج.م8.33. Share price was steady at ج.م6.45 over the past week. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ج.م0.46 (vs ج.م0.45 in 2Q 2022) Second quarter 2023 results: EPS: ج.م0.46 (up from ج.م0.45 in 2Q 2022). Revenue: ج.م6.01b (down 23% from 2Q 2022). Net income: ج.م500.6m (up 2.1% from 2Q 2022). Profit margin: 8.3% (up from 6.3% in 2Q 2022). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Auto industry. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. New Risk • Jul 08
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 20% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Major Estimate Revision • Jun 15
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ج.م33.2b to ج.م31.0b. EPS estimate also fell from ج.م1.31 per share to ج.م1.14 per share. Net income forecast to shrink 82% next year vs 19% growth forecast for Auto industry in Egypt . Consensus price target down from ج.م7.91 to ج.م7.60. Share price rose 11% to ج.م5.97 over the past week. Price Target Changed • Mar 02
Price target increased by 11% to ج.م7.45 Up from ج.م6.71, the current price target is an average from 6 analysts. New target price is 36% above last closing price of ج.م5.46. Stock is down 6.8% over the past year. The company is forecast to post earnings per share of ج.م1.19 for next year compared to ج.م9.20 last year. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: ج.م9.20 (vs ج.م1.35 in FY 2021) Full year 2022 results: EPS: ج.م9.20 (up from ج.م1.35 in FY 2021). Revenue: ج.م21.8b (down 31% from FY 2021). Net income: ج.م9.98b (up ج.م8.51b from FY 2021). Profit margin: 46% (up from 4.7% in FY 2021). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Auto industry. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ج.م4.58, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 10x in the Auto industry globally. Total returns to shareholders of 56% over the past three years. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Board Member Lobna Dessouky was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Dec 20
Consensus EPS estimates increase by 39% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ج.م30.0b to ج.م30.4b. EPS estimate increased from ج.م0.83 to ج.م1.16 per share. Net income forecast to shrink 18% next year vs 15% growth forecast for Auto industry in Egypt . Consensus price target up from ج.م5.01 to ج.م6.27. Share price rose 7.8% to ج.م5.52 over the past week. Price Target Changed • Dec 15
Price target increased to ج.م5.44 Up from ج.م5.01, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ج.م5.43. Stock is up 11% over the past year. The company is forecast to post earnings per share of ج.م0.83 for next year compared to ج.م1.35 last year. Announcement • Dec 12
Chimprop 2 Investment SPV RSC Ltd acquired 21.7% stake in MNT Investments B.V. from GB Auto (S.A.E.) (CASE:AUTO) and other shareholders. Chimprop 2 Investment SPV RSC Ltd signed definitive agreements to acquire 21.7% stake in MNT Investments B.V. from GB Auto (S.A.E.) (CASE:AUTO) and other shareholders on October 27, 2022. GB Auto is selling a 7.5% stake in MNT Investments B.V., with total proceeds of $60 million, with an earnout component that could potentially lead to total proceeds of $71.3 million, should the earnout component come into effect. The sale reduces GB Auto’s indirect ownership in MNT Investments to 49.5%. On November 20, 2022, BOARD APPROVES TO SELL 7.5% STAKE IN MNT INVESTMENTS B.V. Jade Chu,Carmelo Gordian, Caitlin McPhee, Omar Morsy, Rachel Treasure, and Helene Zotiades of Shearman & Sterling LLP acted as legal advisor to Chimera Investments LLC.
Chimprop 2 Investment SPV RSC Ltd completed the acquisition of 21.7% stake in MNT Investments B.V. from GB Auto (S.A.E.) (CASE:AUTO) and other shareholders on December 11, 2022. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: ج.م0.50 (vs ج.م0.30 in 3Q 2021) Third quarter 2022 results: EPS: ج.م0.50 (up from ج.م0.30 in 3Q 2021). Revenue: ج.م5.15b (down 38% from 3Q 2021). Net income: ج.م550.7m (up 66% from 3Q 2021). Profit margin: 11% (up from 4.0% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Global Auto industry. 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 6% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Board Member Lobna Dessouky was the last independent 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: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Nov 09
Price target decreased to ج.م5.12 Down from ج.م5.61, the current price target is an average from 6 analysts. New target price is 21% above last closing price of ج.م4.25. Stock is up 6.3% over the past year. The company is forecast to post earnings per share of ج.م0.94 for next year compared to ج.م1.35 last year. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م3.94, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Auto industry globally. Total returns to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م1.58 per share. Announcement • Oct 29
Chimprop 2 Investment SPV RSC Ltd signed definitive agreements to acquire 21.7% stake in MNT Investments B.V. from GB Auto (S.A.E.) (CASE:AUTO) and other shareholders. Chimprop 2 Investment SPV RSC Ltd signed definitive agreements to acquire 21.7% stake in MNT Investments B.V. from GB Auto (S.A.E.) (CASE:AUTO) and other shareholders on October 27, 2022. GB Auto is selling a 7.5% stake in MNT Investments B.V., with total proceeds of $60 million, with an earnout component that could potentially lead to total proceeds of $71.3 million, should the earnout component come into effect. The sale reduces GB Auto’s indirect ownership in MNT Investments to 49.5%. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م3.77, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Auto industry globally. Total loss to shareholders of 4.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م1.76 per share. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: ج.م0.45 (vs ج.م0.34 in 2Q 2021) Second quarter 2022 results: EPS: ج.م0.45 (up from ج.م0.34 in 2Q 2021). Revenue: ج.م7.83b (up 7.8% from 2Q 2021). Net income: ج.م490.5m (up 31% from 2Q 2021). Profit margin: 6.3% (up from 5.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 1.1%, compared to a 1,439% growth forecast for the Auto industry in Egypt. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 13
Price target decreased to ج.م5.10 Down from ج.م5.61, the current price target is an average from 5 analysts. New target price is 59% above last closing price of ج.م3.21. Stock is down 19% over the past year. The company is forecast to post earnings per share of ج.م0.85 for next year compared to ج.م1.35 last year. Major Estimate Revision • Aug 13
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ج.م33.8b to ج.م31.8b. EPS estimate also fell from ج.م1.04 per share to ج.م0.85 per share. Net income forecast to shrink 15% next year vs 18% growth forecast for Auto industry in Egypt . Consensus price target down from ج.م5.61 to ج.م5.10. Share price rose 3.5% to ج.م3.21 over the past week. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improved over the past week After last week's 18% share price gain to ج.م3.03, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 8x in the Auto industry globally. Total loss to shareholders of 5.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م2.10 per share. Announcement • Jun 28
GB Auto Sponsored ADR to Be Deleted from Other OTC GB Auto SAE Sponsored ADR (Egypt) will be deleted from Other OTC effective June 28, 2022. The deletion is due to ADR /GDR Program Terminated. Valuation Update With 7 Day Price Move • May 26
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ج.م3.00, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 9x in the Auto industry globally. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م2.15 per share. Reported Earnings • May 21
First quarter 2022 earnings: Revenues exceed analyst expectations First quarter 2022 results: Revenue: ج.م7.84b (up 15% from 1Q 2021). Net income: ج.م229.4m (down 23% from 1Q 2021). Profit margin: 2.9% (down from 4.4% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 44%. Over the next year, revenue is forecast to grow 2.5%, compared to a 1,055% growth forecast for the industry in Egypt. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Board Member Lobna Dessouky was the last independent 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: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 12
Inaugural dividend of ج.م0.35 per share Eligible shareholders must have bought the stock before 19 April 2022. Payment date: 29 September 2022. The company is not currently making a profit but it is cash flow positive. The company last paid an ordinary dividend in May 2012. The average dividend yield among industry peers is 3.3%. Major Estimate Revision • Mar 29
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ج.م33.1b to ج.م34.6b. EPS estimate fell from ج.م1.18 to ج.م0.89 per share. Net income forecast to shrink 19% next year vs 17% growth forecast for Auto industry in Egypt . Consensus price target down from ج.م5.83 to ج.م5.61. Share price fell 18% to ج.م4.32 over the past week. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ج.م4.40, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Auto industry globally. Total loss to shareholders of 5.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م2.09 per share. Price Target Changed • Mar 10
Price target increased to ج.م5.83 Up from ج.م5.39, the current price target is an average from 6 analysts. New target price is 10% above last closing price of ج.م5.30. Stock is up 35% over the past year. The company is forecast to post earnings per share of ج.م1.08 for next year compared to ج.م1.35 last year. Buying Opportunity • Mar 08
Now 20% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be ج.م6.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% per annum over the last 3 years. Earnings per share has grown by 60% per annum over the last 3 years. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ج.م1.35 (up from ج.م0.84 in FY 2020). Revenue: ج.م31.4b (up 35% from FY 2020). Net income: ج.م1.48b (up 61% from FY 2020). Profit margin: 4.7% (up from 3.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 3.0%, compared to a 6,946% growth forecast for the industry in Egypt. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improved over the past week After last week's 17% share price gain to ج.م5.50, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Auto industry globally. Total returns to shareholders of 8.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م8.51 per share. Price Target Changed • Dec 22
Price target increased to ج.م5.38 Up from ج.م4.96, the current price target is an average from 5 analysts. New target price is 13% above last closing price of ج.م4.76. Stock is up 46% over the past year. The company is forecast to post earnings per share of ج.م1.12 for next year compared to ج.م0.84 last year. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 19% share price gain to ج.م4.66, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Auto industry globally. Total returns to shareholders of 4.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م3.04 per share. Price Target Changed • Oct 28
Price target increased to ج.م5.34 Up from ج.م4.96, the current price target is an average from 6 analysts. New target price is 27% above last closing price of ج.م4.20. Stock is up 57% over the past year. The company is forecast to post earnings per share of ج.م1.12 for next year compared to ج.م0.84 last year. Board Change • Sep 15
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Board Member Lobna Dessouky was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ج.م0.34 (vs ج.م0.11 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ج.م5.76b (up 43% from 2Q 2020). Net income: ج.م374.3m (up 223% from 2Q 2020). Profit margin: 6.5% (up from 2.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 04
Price target increased to ج.م5.19 Up from ج.م4.80, the current price target is an average from 5 analysts. New target price is 52% above last closing price of ج.م3.41. Stock is up 100% over the past year. Major Estimate Revision • May 19
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ج.م23.5b to ج.م25.9b. EPS estimate fell from ج.م1.10 to ج.م1.05. Net income forecast to grow 7.6% next year vs 31% growth forecast for Auto industry in Egypt. Consensus price target up from ج.م4.80 to ج.م4.90. Share price rose 10% to ج.م3.62 over the past week. Reported Earnings • May 15
First quarter 2021 earnings released: EPS ج.م0.28 (vs ج.م0.13 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ج.م6.83b (up 16% from 1Q 2020). Net income: ج.م298.9m (up 116% from 1Q 2020). Profit margin: 4.4% (up from 2.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 01
New 90-day high: ج.م3.99 The company is up 17% from its price of ج.م3.41 on 01 December 2020. The Egyptian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م0.84 per share. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS ج.م0.85 (vs ج.م0.039 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ج.م23.3b (down 8.2% from FY 2019). Net income: ج.م917.0m (up ج.م874.3m from FY 2019). Profit margin: 3.9% (up from 0.2% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue beats expectations Revenue exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 2.8%, compared to a 37% growth forecast for the Auto industry in Egypt. Price Target Changed • Feb 23
Price target raised to ج.م4.32 Up from ج.م4.01, the current price target is an average from 7 analysts. The new target price is 17% above the current share price of ج.م3.68. As of last close, the stock is up 23% over the past year. Price Target Changed • Feb 11
Price target raised to ج.م4.33 Up from ج.م4.01, the current price target is an average from 5 analysts. The new target price is 8.8% above the current share price of ج.م3.98. As of last close, the stock is up 18% over the past year. Major Estimate Revision • Feb 11
Analysts increase EPS estimates to ج.م0.70 The 2020 consensus revenue estimate increased from ج.م21.0b to ج.م22.0b. The earnings per share estimate also received an upgrade from ج.م0.47 to ج.م0.70 for the same period. Net income is expected to grow by 16% next year compared to 58% growth forecast for the Auto industry in Egypt. The consensus price target increased from ج.م4.01 to ج.م4.33. Share price is up 8.4% to ج.م3.98 over the past week. Is New 90 Day High Low • Feb 08
New 90-day high: ج.م3.85 The company is up 33% from its price of ج.م2.90 on 10 November 2020. The Egyptian market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م0.66 per share. Is New 90 Day High Low • Jan 20
New 90-day high: ج.م3.70 The company is up 34% from its price of ج.م2.76 on 22 October 2020. The Egyptian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto industry, which is up 49% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م0.66 per share. Is New 90 Day High Low • Jan 04
New 90-day high: ج.م3.54 The company is up 43% from its price of ج.م2.48 on 06 October 2020. The Egyptian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م0.66 per share. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ج.م0.35 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ج.م6.20b (down 8.5% from 3Q 2019). Net income: ج.م375.0m (up ج.م383.3m from 3Q 2019). Profit margin: 6.1% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 12
New 90-day high: ج.م3.10 The company is up 24% from its price of ج.م2.50 on 13 August 2020. The Egyptian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م0.54 per share. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 16% share price gain to ج.م3.10, the stock is trading at a trailing P/E ratio of 11.7x, up from the previous P/E ratio of 10.1x. This compares to an average P/E of 23x in the Auto industry. Total return to shareholders over the past three years is a loss of 1.3%. Is New 90 Day High Low • Oct 14
New 90-day high: ج.م2.98 The company is up 42% from its price of ج.م2.10 on 16 July 2020. The Egyptian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م12.88 per share. Major Estimate Revision • Oct 13
Analysts increase revenue estimates to ج.م21.0b The 2020 consensus revenue estimate increased from ج.م17.9b. Analysts now expect the company to report a profit instead of a loss, raising their earnings per share (EPS) estimate from -ج.م0.016 to ج.م0.47 for the same period. The Auto industry in Egypt is expected to see an average net income growth of 42% next year. The consensus price target increased from ج.م3.53 to ج.م3.84. Share price is up 11% to ج.م2.76 over the past week. Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 16% share price gain to ج.م2.82, the stock is trading at a trailing P/E ratio of 10.6x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 23x in the Auto industry. Total return to shareholders over the past three years is a loss of 17%.