Announcement • Mar 18
Edita Food Industries Company (S.A.E), Annual General Meeting, Apr 19, 2026 Edita Food Industries Company (S.A.E), Annual General Meeting, Apr 19, 2026, at 14:30 Egypt Standard Time. Location: giza Egypt Price Target Changed • May 14
Price target increased by 8.6% to ج.م47.99 Up from ج.م44.19, the current price target is an average from 4 analysts. New target price is 78% above last closing price of ج.م26.97. Stock is down 1.5% over the past year. The company is forecast to post earnings per share of ج.م2.08 for next year compared to ج.م2.18 last year. Announcement • Apr 08
Edita Food Industries Company (S.A.E) Approves Profit Distribution for the Fiscal Year Ending on December 31, 2024 Edita Food Industries Company (S.A.E) at the AGM held on April 06, 2025, approved the proposed profit distribution, which includes the distribution of part of the profits for the fiscal year ending on December 31, 2024 to the shareholders amounting to EGP 800,100,000, by way of cash coupon, approximately amounting to EGP 1.1429 per share,disbursed to shareholders in two (2) equal instalments and delegating the Chairman in determining the disbursement dates after coordination with MCDR and EGX in addition to a distribution to the employees amounting to EGP 88,900,000,while the Board of Directors have waived their percentage in said profit. Announcement • Mar 14
Edita Food Industries Company (S.A.E), Annual General Meeting, Apr 06, 2025 Edita Food Industries Company (S.A.E), Annual General Meeting, Apr 06, 2025, at 14:30 Egypt Standard Time. Location: giza Egypt Announcement • Mar 10
Edita Food Industries S.A.E. Proposes Dividend for the Year Ending December 31, 2024 Edita Food Industries S.A.E. announced that the Board of Directors Meeting of the Company convened on March 9, 2025 and unanimously approved the proposal for distributing dividends for the fiscal year ending on December 31, 2024, which includes the distribution of part of the dividends for the fiscal year ending on December 31, 2024 on the shareholders in the amount of EGP 800,100,000 by way of a coupon of EGP 1.143 disbursed to shareholders in two (2) equal installments to be submitted to the ordinary general meeting. Declared Dividend • Nov 14
First half dividend increased to ج.م0.57 Dividend of ج.م0.57 is 33% higher than last year. Ex-date: 26th November 2024 Payment date: 28th November 2024 Dividend yield will be 3.3%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 24% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 111% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Oct 21
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to ج.م32.80. The fair value is estimated to be ج.م26.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 21% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ج.م0.45 (vs ج.م0.52 in 2Q 2023) Second quarter 2024 results: EPS: ج.م0.45 (down from ج.م0.52 in 2Q 2023). Revenue: ج.م4.06b (up 42% from 2Q 2023). Net income: ج.م318.2m (down 12% from 2Q 2023). Profit margin: 7.8% (down from 13% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Food industry in Egypt. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 01
Edita Food Industries Company (S.A.E) Approves Reconstitution of Audit Committee and Remuneration Committee Edita Food Industries Company (S.A.E) approved the reconstitution of the Audit Committee as follows: Name of the Board Member:Ms. Randa Ibrahim Abdou, Capacity: Non - Executive Independent, Position of the Board Member in the committee: Head of the Committee. Name of the Board Member: Mr. Mounir Amin Fakhry Abdel Nour, Capacity: Non-Executive, Position of the Board Member in the committee: Member. Name of the Board Member: Ms. Samiha El Sayed Fawzy Ibrahim, Capacity: Non - Executive Independent, Position of the Board Member in the committee: Member
Company also approved the reconstitution of the Remuneration Committee: Name of the Board Member: Mr.TamerSaeed, Capacity: Non-Executive, Position of the Board Member in the committee: Head of the Committee. Name of the Board Member: Ms. Randa Ibrahim Abdou, Capacity: Non - Executive Independent, Position of the Board Member in the committee: Member . Name of the Board Member: Mr. Mounir Amin Fakhry Abdel Nour, Capacity: Non - Executive, Position of the Board Member in the committee: Member. Announcement • Jul 10
Edita Food Industries Company (S.A.E) Announces Resignation of Hassan Mohammad Hassan El-Khatib as Member of Board of Directors Edita Food Industries S.A.E. disclosed the receival of Mr. Hassan Mohammad Hassan El-Khatib's resignation from his position as a member in the Company's Board of Directors, as well as his position in the committees emanating from the Board of Directors in light of his assumption of the position of Minister of Investment and Foreign Trade in the new ministerial formation. His resignation has been presented to the Company's Board of Directors to take all necessary procedures in this regard. Buy Or Sell Opportunity • Jun 04
Now 21% overvalued Over the last 90 days, the stock has fallen 16% to ج.م28.86. The fair value is estimated to be ج.م23.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 51%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. Reported Earnings • May 21
First quarter 2024 earnings released: EPS: ج.م0.67 (vs ج.م0.56 in 1Q 2023) First quarter 2024 results: EPS: ج.م0.67 (up from ج.م0.56 in 1Q 2023). Revenue: ج.م3.93b (up 41% from 1Q 2023). Net income: ج.م506.3m (up 27% from 1Q 2023). Profit margin: 13% (down from 14% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Food industry in Egypt. Over the last 3 years on average, earnings per share has increased by 51% per year whereas the company’s share price has increased by 55% per year. Announcement • May 21
Edita Food Industries Company (S.A.E) Announces Reconstitution of the Board Committees Edita Food Industries S.A.E. announced that the Board of Directors Meeting of the Company convened on dated May 19, 2024 and unanimously resolved the following resolutions: Approved the reconstitution of the Audit Committee as follows: Mr. Hassan Mohamed Hassan El Khatib, Non - Executive Independent, Head of the Committee; Mr. Mounir Amin Fakhry Abdel Nour, Non-Executive, Member; Ms. Samiha El Sayed Fawzy Ibrahim, Non - Executive Independent, Member; and approved the reconstitution of the Remuneration Committee as follows: Mr. Tamer Saeed, Non-Executive, Head of the Committee; Mr. Hassan Mohamed Hassan El Khatib, Non - Executive Independent, Member; Mr. Mounir Amin Fakhry Abdel Nour, Non-Executive, Member; as well as approving the constitution of the Risk Management Committee as follows: Mr. Mounir Amin Fakhry Abdel Nour Non-Executive, Head of the Committee; Mr. Samir Nabih Aziz Berzi, Executive, Member; Ms. Randa Ibrahim Abdou, Non - Executive Independent, Member. Price Target Changed • May 19
Price target increased by 9.0% to ج.م40.60 Up from ج.م37.25, the current price target is an average from 7 analysts. New target price is 44% above last closing price of ج.م28.10. Stock is up 81% over the past year. The company is forecast to post earnings per share of ج.م2.91 for next year compared to ج.م2.25 last year. Buy Or Sell Opportunity • May 17
Now 21% overvalued Over the last 90 days, the stock has fallen 20% to ج.م28.19. The fair value is estimated to be ج.م23.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 54%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Buy Or Sell Opportunity • Apr 29
Now 23% overvalued Over the last 90 days, the stock has fallen 7.2% to ج.م29.00. The fair value is estimated to be ج.م23.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 54%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Upcoming Dividend • Apr 15
Upcoming dividend of ج.م0.43 per share Eligible shareholders must have bought the stock before 22 April 2024. Payment date: 24 April 2024. Payout ratio is a comfortable 46% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Egyptian dividend payers (6.1%). Lower than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ج.م31.07, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Food industry in Egypt. Total returns to shareholders of 309% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م23.56 per share. Major Estimate Revision • Mar 15
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ج.م19.7b to ج.م16.3b. EPS estimate fell from ج.م3.43 to ج.م3.00 per share. Net income forecast to grow 36% next year vs 46% growth forecast for Food industry in Egypt. Consensus price target broadly unchanged at ج.م37.31. Share price rose 4.7% to ج.م36.63 over the past week. Announcement • Mar 06
Edita Food Industries Company (S.A.E), Annual General Meeting, Mar 28, 2024 Edita Food Industries Company (S.A.E), Annual General Meeting, Mar 28, 2024, at 14:30 Coordinated Universal Time. Agenda: To consider and approve the Board of Directors report on Company's activities for the fiscal year ending December 31, 2023, and approving the corporate governance annual report and the Auditor's report thereon; to consider and approve the auditor's report for the standalone and consolidated financial statements for the fiscal year ending December 31, 2023; to consider and approve the Company's standalone and consolidated financial statements for the fiscal year ending December 31, 2023; to consider and approve the proposed profit distribution, which comprises of a profit distribution for the fiscal year ending on December 31, 2023; and to consider other issues. Announcement • Mar 05
Edita Food Industries S.A.E. Proposes Cash Dividends for the Fiscal Year Ended December 31, 2023 Edita Food Industries S.A.E. announced that the Board of Directors Meeting of the Company held on March 03, 2024, Approval of the distribution of dividends for the fiscal year ended December 31, 2023, to be submitted to the ordinary general meeting, which comprises of: distributing cash dividends for the fiscal year ended December 31, 2023 on the shareholders in the amount of EGP 300 Million, by way of a coupon of EGP 0.429 for each share, to be presented to the ordinary general meeting for its approval. Reported Earnings • Mar 04
Full year 2023 earnings released Full year 2023 results: Revenue: ج.م12.1b (up 58% from FY 2022). Net income: ج.م1.51b (up 58% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Food industry in Egypt. Price Target Changed • Feb 27
Price target increased by 13% to ج.م36.94 Up from ج.م32.58, the current price target is an average from 8 analysts. New target price is 9.6% below last closing price of ج.م40.87. Stock is up 148% over the past year. The company is forecast to post earnings per share of ج.م2.33 for next year compared to ج.م1.35 last year. Price Target Changed • Dec 18
Price target increased by 11% to ج.م32.58 Up from ج.م29.44, the current price target is an average from 7 analysts. New target price is 6.6% below last closing price of ج.م34.86. Stock is up 173% over the past year. The company is forecast to post earnings per share of ج.م2.30 for next year compared to ج.م1.35 last year. Price Target Changed • Dec 12
Price target increased by 8.8% to ج.م31.47 Up from ج.م28.92, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of ج.م31.02. Stock is up 148% over the past year. The company is forecast to post earnings per share of ج.م2.30 for next year compared to ج.م1.35 last year. Upcoming Dividend • Nov 21
Upcoming dividend of ج.م0.43 per share at 1.9% yield Eligible shareholders must have bought the stock before 28 November 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 26% and the cash payout ratio is 79%. Trailing yield: 1.9%. Lower than top quartile of Egyptian dividend payers (7.3%). Lower than average of industry peers (3.3%). Reported Earnings • Nov 07
Third quarter 2023 earnings released: EPS: ج.م0.62 (vs ج.م0.42 in 3Q 2022) Third quarter 2023 results: EPS: ج.م0.62 (up from ج.م0.42 in 3Q 2022). Revenue: ج.م3.12b (up 55% from 3Q 2022). Net income: ج.م465.8m (up 55% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Food industry in Egypt. 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 46% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م23.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Food industry in Egypt. Total returns to shareholders of 175% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م19.53 per share. Price Target Changed • Oct 02
Price target increased by 9.8% to ج.م27.10 Up from ج.م24.68, the current price target is an average from 5 analysts. New target price is 36% above last closing price of ج.م20.00. Stock is up 106% over the past year. The company is forecast to post earnings per share of ج.م2.24 for next year compared to ج.م1.35 last year. New Risk • Aug 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% 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 Risk High level of non-cash earnings (25% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Aug 17
Price target increased by 9.7% to ج.م25.93 Up from ج.م23.65, the current price target is an average from 6 analysts. New target price is 30% above last closing price of ج.م19.93. Stock is up 117% over the past year. The company is forecast to post earnings per share of ج.م2.24 for next year compared to ج.م1.35 last year. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: ج.م0.59 (vs ج.م0.21 in 2Q 2022) Second quarter 2023 results: EPS: ج.م0.59 (up from ج.م0.21 in 2Q 2022). Revenue: ج.م2.86b (up 82% from 2Q 2022). Net income: ج.م413.6m (up 175% from 2Q 2022). Profit margin: 14% (up from 9.6% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Food industry in Egypt. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 30
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ج.م12.1b to ج.م11.9b. EPS estimate also fell from ج.م2.40 per share to ج.م2.13 per share. Net income forecast to grow 40% next year vs 40% growth forecast for Food industry in Egypt. Consensus price target up from ج.م23.65 to ج.م24.68. Share price was steady at ج.م18.80 over the past week. Major Estimate Revision • Jun 07
Consensus revenue estimates increase by 30% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from ج.م9.33b to ج.م12.1b. EPS estimate increased from ج.م1.44 to ج.م2.40 per share. Net income forecast to grow 47% next year vs 47% growth forecast for Food industry in Egypt. Consensus price target up from ج.م20.48 to ج.م23.28. Share price fell 5.5% to ج.م17.80 over the past week. Price Target Changed • Jun 06
Price target increased by 14% to ج.م23.28 Up from ج.م20.48, the current price target is an average from 5 analysts. New target price is 31% above last closing price of ج.م17.83. Stock is up 135% over the past year. The company is forecast to post earnings per share of ج.م1.44 for next year compared to ج.م1.35 last year. Reported Earnings • Jun 04
First quarter 2023 earnings released: EPS: ج.م0.56 (vs ج.م0.27 in 1Q 2022) First quarter 2023 results: EPS: ج.م0.56 (up from ج.م0.27 in 1Q 2022). Revenue: ج.م2.78b (up 78% from 1Q 2022). Net income: ج.م398.7m (up 105% from 1Q 2022). Profit margin: 14% (up from 13% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Food industry in Egypt. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 31
Consensus revenue estimates increase by 30% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ج.م9.33b to ج.م12.1b. EPS estimate unchanged from ج.م1.44 at last update. Food industry in Egypt expected to see average net income growth of 28% next year. Consensus price target up from ج.م20.48 to ج.م21.24. Share price rose 18% to ج.م18.83 over the past week. Announcement • May 31
Edita Food Industries Company (S.A.E) (CASE:EFID) agreed to acquire Fancy Foods S.A.E. for EGP 380 million. Edita Food Industries Company (S.A.E) (CASE:EFID) agreed to acquire Fancy Foods S.A.E. for EGP 380 million on May 29, 2023. The board of Edita Food Industries Company has unanimously approved the deal on May 29, 2023. The transaction is subject to approval of General Authority for Investment and Free Zones, the Financial Regulatory Authority and the Egyptian Stock Exchange. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م18.61, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Food industry in Egypt. Total returns to shareholders of 127% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م15.11 per share. Upcoming Dividend • May 08
Upcoming dividend of ج.م0.57 per share at 3.6% yield Eligible shareholders must have bought the stock before 15 May 2023. Payment date: 17 May 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Egyptian dividend payers (8.1%). Lower than average of industry peers (4.2%). Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: ج.م1.34 (vs ج.م0.73 in FY 2021) Full year 2022 results: EPS: ج.م1.34 (up from ج.م0.73 in FY 2021). Revenue: ج.م7.67b (up 46% from FY 2021). Net income: ج.م959.4m (up 82% from FY 2021). Profit margin: 13% (up from 10% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Food industry in Egypt. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ج.م16.76, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Food industry in Africa. Total returns to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م13.13 per share. Major Estimate Revision • Dec 20
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from ج.م1.03 to ج.م1.18. Revenue forecast steady at ج.م7.21b. Net income forecast to grow 5.9% next year vs 16% growth forecast for Food industry in Egypt. Consensus price target up from ج.م15.53 to ج.م16.50. Share price was steady at ج.م12.64 over the past week. Price Target Changed • Dec 01
Price target increased to ج.م15.53 Up from ج.م13.93, the current price target is an average from 6 analysts. New target price is 24% above last closing price of ج.م12.48. Stock is up 56% over the past year. The company is forecast to post earnings per share of ج.م1.16 for next year compared to ج.م0.73 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ج.م0.40 (vs ج.م0.16 in 3Q 2021) Third quarter 2022 results: EPS: ج.م0.40 (up from ج.م0.16 in 3Q 2021). Revenue: ج.م2.02b (up 45% from 3Q 2021). Net income: ج.م287.0m (up 154% from 3Q 2021). Profit margin: 14% (up from 8.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Food industry in Egypt. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. 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. 5 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Mounir Amin Fakhry Nour was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 20% share price gain to ج.م12.20, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Food industry in Africa. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م13.15 per share. Price Target Changed • Nov 02
Price target increased to ج.م13.32 Up from ج.م12.23, the current price target is an average from 6 analysts. New target price is 31% above last closing price of ج.م10.18. Stock is up 40% over the past year. The company is forecast to post earnings per share of ج.م1.06 for next year compared to ج.م0.73 last year. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م9.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Food industry in Africa. Total loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م15.19 per share. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: ج.م0.25 (vs ج.م0.11 in 2Q 2021) Second quarter 2022 results: EPS: ج.م0.25 (up from ج.م0.11 in 2Q 2021). Revenue: ج.م1.57b (up 37% from 2Q 2021). Net income: ج.م181.8m (up 120% from 2Q 2021). Profit margin: 12% (up from 7.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 19%, compared to a 17% growth forecast for the Food industry in Egypt. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging 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. 5 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Mounir Amin Fakhry Nour was the last independent director to join the board, commencing their role in 2017. 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 23
Edita Food Industries Company (S.A.E), Annual General Meeting, Apr 13, 2022 Edita Food Industries Company (S.A.E), Annual General Meeting, Apr 13, 2022, at 14:30 E. Europe Standard Time. Agenda: To consider the Board of Directors report on Company's activities for the fiscal year ending 31/12/2021, and ratification of the corporate governance annual report & Auditor's report thereon; to Approving the auditor's report for the standalone and consolidated financial statements for the fiscal year ending 31/12/2021; to the Company's standalone and consolidated financial statements for the fiscal year ending 31/12/2021; to Discharging the members of the Board of Directors from their responsibilities for the fiscal year ending 31/12/2021; to Determining the Board of Directors' allowance and remuneration for the fiscal year ending 31/12/2022; to Appointing the Company's auditor for the fiscal year ending 31/12/2022 and determining his remuneration. Reported Earnings • Mar 15
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ج.م0.65 (up from ج.م0.42 in FY 2020). Revenue: ج.م5.25b (up 31% from FY 2020). Net income: ج.م471.9m (up 55% from FY 2020). Profit margin: 9.0% (up from 7.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 2.0%, compared to a 5.6% growth forecast for the industry in Egypt. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Nov 23
Edita Food Industries Company (S.A.E) (CASE:EFID) entered into a Non-binding Letter of Intent to acquire Assets Of Egyptian Belgian Company for Industrial Investments S.A.E. Edita Food Industries Company (S.A.E) (CASE:EFID) entered into a Non-binding Letter of Intent to acquire Assets Of Egyptian Belgian Company for Industrial Investments S.A.E. on November 21, 2021. Prior to executing the said transaction, Edita Company will commence an expedited legal, technical, financial, and tax due diligence investigations of the Assets pursuant to the conditions and assumptions agreed upon. Edita should finalize the due diligence exercise on or before December 15, 2021, following which and subject to the Assumptions, an initial draft of the sale and purchase agreement shall be prepared on or before January 15, 2022 provided that the outcome of the due diligence investigation is satisfactory. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS ج.م0.16 (vs ج.م0.15 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: ج.م1.39b (up 32% from 3Q 2020). Net income: ج.م112.8m (up 4.4% from 3Q 2020). Profit margin: 8.1% (down from 10% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS ج.م0.11 (vs ج.م0.005 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ج.م1.15b (up 50% from 2Q 2020). Net income: ج.م82.7m (up ج.م79.2m from 2Q 2020). Profit margin: 7.2% (up from 0.5% 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 3% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • May 12
First quarter 2021 earnings released: EPS ج.م0.11 (vs ج.م0.09 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ج.م1.17b (up 21% from 1Q 2020). Net income: ج.م81.7m (up 25% from 1Q 2020). Profit margin: 7.0% (up from 6.8% 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 4% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Announcement • May 12
Edita Food Industries Company (S.A.E) (CASE:EFID) agreed to acquire 25% stake in Edita Food Industries Morocco from Dislog Group for MAD18 million. Edita Food Industries Company (S.A.E) (CASE:EFID) agreed to acquire 25% stake in Edita Food Industries Morocco from Dislog Group for MAD18 million on May 10, 2021. Upon completion Edita Food Industries Company (S.A.E) will hold 76% stake in in Edita Food Industries Morocco. Edita Food Industries Company (S.A.E) will acquire 0.11 million shares of Edita Food Industries Morocco. The deal is subject to Edita Food Industries Company (S.A.E) board. As of May 10, 2021 Edita Food Industries Company (S.A.E) board approved the deal. Upcoming Dividend • Apr 14
Upcoming dividend of ج.م0.21 per share Eligible shareholders must have bought the stock before 20 April 2021. Payment date: 22 April 2021. Trailing yield: 2.5%. Lower than top quartile of Egyptian dividend payers (9.2%). Lower than average of industry peers (4.4%). Major Estimate Revision • Mar 27
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from ج.م0.54 to ج.م0.33 per share. Revenue forecast steady at ج.م4.46b. Net income forecast to shrink 21% next year vs 12% growth forecast for Food industry in Egypt . Consensus price target broadly unchanged at ج.م13.17. Share price rose 2.0% to ج.م8.52 over the past week. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS ج.م0.42 (vs ج.م0.50 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ج.م4.02b (flat on FY 2019). Net income: ج.م305.1m (down 16% from FY 2019). Profit margin: 7.6% (down from 9.0% in FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 9.6%. Over the next year, revenue is forecast to grow 10%, compared to a 8.8% growth forecast for the Food industry in Egypt. Announcement • Feb 25
Edita Food Industries Company (S.A.E), Annual General Meeting, Mar 30, 2021 Edita Food Industries Company (S.A.E), Annual General Meeting, Mar 30, 2021. Is New 90 Day High Low • Dec 21
New 90-day low: ج.م8.50 The company is down 14% from its price of ج.م9.93 on 22 September 2020. The Egyptian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م8.31 per share. Announcement • Dec 14
An unknown buyer acquired 2.48% stake in Edita Food Industries Company (S.A.E) (CASE:EFID) from Kingsway Fund Frontier Consumer Franchises EXTOBA managed by Fundpartner Solutions (Europe) SA for approximately EGP 170 million. An unknown buyer acquired 2.48% stake in Edita Food Industries Company (S.A.E) (CASE:EFID) from Kingsway Fund Frontier Consumer Franchises EXTOBA managed by Fundpartner Solutions (Europe) SA for approximately EGP 170 million on December 13, 2020. As per terms of transaction, Kingsway Fund Frontier Consumer Franchises EXTOBA sold 18 million shares Edita Food Industries Company (S.A.E) of at EGP 9.25 share. Post completion, Kingsway Fund Frontier Consumer Franchises EXTOBA will hold 15.22% stake in Edita Food Industries Company (S.A.E).
An unknown buyer completed the acquisition of 2.48% stake in Edita Food Industries Company (S.A.E) (CASE:EFID) from Kingsway Fund Frontier Consumer Franchises EXTOBA managed by Fundpartner Solutions (Europe) SA on December 13, 2020. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS ج.م0.15 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ج.م1.06b (down 2.7% from 3Q 2019). Net income: ج.م106.0m (down 9.5% from 3Q 2019). Profit margin: 10.0% (down from 11% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue and earnings miss expectations Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 7.5%. Over the next year, revenue is forecast to grow 12%, compared to a 9.8% growth forecast for the Food industry in Egypt. Price Target Changed • Oct 07
Price target lowered to ج.م14.42 Down from ج.م15.88, the current price target is an average from 7 analysts. The new target price is 51% above the current share price of ج.م9.55. As of last close, the stock is down 39% over the past year.