Announcement • Jan 28
Obour Land for Food Industries S.A.E., Annual General Meeting, Feb 28, 2026 Obour Land for Food Industries S.A.E., Annual General Meeting, Feb 28, 2026, at 13:00 Egypt Standard Time. Location: nasr 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. 3 experienced directors. 2 highly experienced directors. No independent directors (5 non-independent directors). Vice Chairman & MD Ashraf Mohammed Hamed Misry was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Mar 18
Obour Land for Food Industries S.A.E. announces Annual dividend, payable on March 27, 2025 Obour Land for Food Industries S.A.E. announced Annual dividend of EGP 2.0000 per share payable on March 27, 2025, ex-date on March 25, 2025 and record date on March 26, 2025. Announcement • Jan 27
Obour Land for Food Industries S.A.E., Annual General Meeting, Feb 22, 2025 Obour Land for Food Industries S.A.E., Annual General Meeting, Feb 22, 2025, at 11:00 Egypt Standard Time. Location: nasr Egypt Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ج.م19.86, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Food industry in Egypt. Total returns to shareholders of 388% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م14.47 per share. Major Estimate Revision • Oct 21
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ج.م8.17b to ج.م8.65b. EPS estimate increased from ج.م1.77 to ج.م2.07 per share. Net income forecast to grow 38% next year vs 50% growth forecast for Food industry in Egypt. Consensus price target up from ج.م17.85 to ج.م20.85. Share price rose 36% to ج.م19.86 over the past week. Buy Or Sell Opportunity • Oct 17
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 82% to ج.م18.27. The fair value is estimated to be ج.م14.49, 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 25%. Revenue is forecast to grow by 6.9% in 2 years. Earnings are forecast to grow by 39% in the next 2 years. Reported Earnings • Oct 15
Third quarter 2024 earnings released: EPS: ج.م0.64 (vs ج.م0.21 in 3Q 2023) Third quarter 2024 results: EPS: ج.م0.64 (up from ج.م0.21 in 3Q 2023). Revenue: ج.م2.84b (up 38% from 3Q 2023). Net income: ج.م298.7m (up 213% from 3Q 2023). Profit margin: 11% (up from 4.7% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% 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 26% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ج.م12.90, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Food industry in Egypt. Total returns to shareholders of 227% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م14.49 per share. Price Target Changed • Sep 26
Price target increased by 32% to ج.م17.85 Up from ج.م13.49, the current price target is an average from 3 analysts. New target price is 64% above last closing price of ج.م10.91. Stock is up 30% over the past year. The company is forecast to post earnings per share of ج.م1.77 for next year compared to ج.م1.03 last year. Buy Or Sell Opportunity • Aug 21
Now 20% undervalued Over the last 90 days, the stock has risen 17% to ج.م10.01. The fair value is estimated to be ج.م12.56, however this is not to be taken as a buy 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 20%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 66% in the next 2 years. Buy Or Sell Opportunity • Aug 05
Now 21% undervalued Over the last 90 days, the stock has risen 3.1% to ج.م9.91. The fair value is estimated to be ج.م12.56, however this is not to be taken as a buy 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 20%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 66% in the next 2 years. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: ج.م0.57 (vs ج.م0.20 in 2Q 2023) Second quarter 2024 results: EPS: ج.م0.57 (up from ج.م0.20 in 2Q 2023). Revenue: ج.م2.08b (up 40% from 2Q 2023). Net income: ج.م265.9m (up 174% from 2Q 2023). Profit margin: 13% (up from 6.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% 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 21% per year and the company’s share price has also increased by 21% per year. New Risk • Jun 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.0% Last year net profit margin: 8.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (64% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.0% net profit margin). Market cap is less than US$100m (ج.م3.92b market cap, or US$81.5m). New Risk • Jun 21
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. 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 (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 107% Paying a dividend despite having no free cash flows. High level of non-cash earnings (68% accrual ratio). Minor Risk Market cap is less than US$100m (ج.م3.70b market cap, or US$77.6m). Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ج.م8.88, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Food industry in Egypt. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م11.52 per share. Buy Or Sell Opportunity • May 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to ج.م9.20. The fair value is estimated to be ج.م11.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Upcoming Dividend • Apr 30
Upcoming dividend of ج.م0.95 per share Eligible shareholders must have bought the stock before 07 May 2024. Payment date: 09 May 2024. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 9.0%. Within top quartile of Egyptian dividend payers (7.1%). Higher than average of industry peers (3.6%). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ج.م11.24, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Food industry in Egypt. Total returns to shareholders of 107% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م11.68 per share. New Risk • Apr 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ج.م4.56b (US$96.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Dividend per share is over 15x cash flows per share. High level of non-cash earnings (35% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (5.7% net profit margin). Market cap is less than US$100m (ج.م4.56b market cap, or US$96.5m). Reported Earnings • Mar 06
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ج.م1.03 (up from ج.م1.01 in FY 2022). Revenue: ج.م7.20b (up 58% from FY 2022). Net income: ج.م470.7m (up 17% from FY 2022). Profit margin: 6.5% (down from 8.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 5.1% 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 17% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to ج.م14.19. The fair value is estimated to be ج.م11.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Buy Or Sell Opportunity • Feb 20
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 48% to ج.م14.60. The fair value is estimated to be ج.م11.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ج.م12.92, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Food industry in Egypt. Total returns to shareholders of 130% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م11.69 per share. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ج.م9.95, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Food industry in Africa. Total returns to shareholders of 145% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م13.67 per share. Major Estimate Revision • Sep 27
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ج.م1.48 to ج.م1.32 per share. Revenue forecast steady at ج.م6.30b. Net income forecast to grow 49% next year vs 47% growth forecast for Food industry in Egypt. Consensus price target broadly unchanged at ج.م13.21. Share price was steady at ج.م8.39 over the past week. Buying Opportunity • Jul 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.4%. The fair value is estimated to be ج.م12.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Price Target Changed • May 06
Price target increased by 8.9% to ج.م11.56 Up from ج.م10.62, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ج.م11.37. Stock is up 105% over the past year. The company is forecast to post earnings per share of ج.م1.64 for next year compared to ج.م1.01 last year. Price Target Changed • Mar 31
Price target increased by 14% to ج.م10.62 Up from ج.م9.28, the current price target is an average from 6 analysts. New target price is 15% above last closing price of ج.م9.23. Stock is up 49% over the past year. The company is forecast to post earnings per share of ج.م1.64 for next year compared to ج.م1.01 last year. Major Estimate Revision • Mar 21
Consensus revenue estimates increase by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ج.م4.78b to ج.م5.70b. EPS estimate unchanged from ج.م1.79 at last update. Food industry in Egypt expected to see average net income growth of 2.1% next year. Consensus price target up from ج.م9.28 to ج.م9.86. Share price rose 2.1% to ج.م10.36 over the past week. Price Target Changed • Mar 20
Price target increased by 12% to ج.م9.86 Up from ج.م8.80, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ج.م10.36. Stock is up 70% over the past year. The company is forecast to post earnings per share of ج.م1.79 for next year compared to ج.م1.01 last year. Upcoming Dividend • Mar 14
Upcoming dividend of ج.م0.95 per share at 9.4% yield Eligible shareholders must have bought the stock before 21 March 2023. Payment date: 23 March 2023. Payout ratio is a comfortable 71% and the cash payout ratio is 78%. Trailing yield: 9.4%. Within top quartile of Egyptian dividend payers (7.7%). Higher than average of industry peers (4.3%). Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ج.م10.69, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Food industry in Africa. Total returns to shareholders of 153% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م6.42 per share. Reported Earnings • Jan 31
Full year 2022 earnings released: EPS: ج.م1.01 (vs ج.م0.78 in FY 2021) Full year 2022 results: EPS: ج.م1.01 (up from ج.م0.78 in FY 2021). Revenue: ج.م4.56b (up 52% from FY 2021). Net income: ج.م462.4m (up 49% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue is forecast to grow 6.4% 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 13% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improved over the past week After last week's 20% share price gain to ج.م9.60, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Food industry in Africa. Total returns to shareholders of 116% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م7.15 per share. Board Change • Nov 16
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Vice Chairman & MD Ashraf Mohammed Hamed Misry was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Price Target Changed • Oct 20
Price target increased to ج.م8.73 Up from ج.م8.12, the current price target is an average from 6 analysts. New target price is 56% above last closing price of ج.م5.61. Stock is up 9.8% over the past year. The company is forecast to post earnings per share of ج.م0.84 for next year compared to ج.م0.77 last year. Major Estimate Revision • Oct 19
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ج.م3.49b to ج.م3.96b. EPS estimate unchanged from ج.م1.00 at last update. Food industry in Egypt expected to see average net income growth of 18% next year. Consensus price target of ج.م8.12 unchanged from last update. Share price rose 12% to ج.م5.61 over the past week. Reported Earnings • Aug 02
Second quarter 2022 earnings released: EPS: ج.م0.20 (vs ج.م0.16 in 2Q 2021) Second quarter 2022 results: EPS: ج.م0.20 (up from ج.م0.16 in 2Q 2021). Revenue: ج.م873.9m (up 37% from 2Q 2021). Net income: ج.م90.2m (up 42% from 2Q 2021). Profit margin: 10% (in line with 2Q 2021). Over the next year, revenue is forecast to stay flat compared to a 13% growth forecast for the industry in Egypt. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م4.86, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Food industry in Africa. Total loss to shareholders of 1.6% over the past three years. Buying Opportunity • May 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. 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 7.7% over the last 3 years. Earnings per share has grown by 9.1%. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings is also forecast to grow by 6.3% per annum over the same time period. Board Change • Apr 27
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Vice Chairman & MD Ashraf Mohammed Hamed Misry was the last director to join the board, commencing their role in 2016. 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 23
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ج.م0.19 (up from ج.م0.15 in 1Q 2021). Revenue: ج.م923.8m (up 39% from 1Q 2021). Net income: ج.م90.6m (up 62% from 1Q 2021). Profit margin: 9.8% (up from 8.5% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 1.5%, compared to a 7.6% growth forecast for the industry in Egypt. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 22
Inaugural dividend of ج.م0.65 per share Eligible shareholders must have bought the stock before 29 March 2022. Payment date: 31 March 2022. The company is not currently making a profit but it is cash flow positive. The company last paid an ordinary dividend in May 2017. The average dividend yield among industry peers is 4.8%. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS ج.م0.25 (vs ج.م0.22 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ج.م820.0m (up 3.1% from 3Q 2020). Net income: ج.م111.2m (up 12% from 3Q 2020). Profit margin: 14% (up from 13% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 02
First quarter 2021 earnings released: EPS ج.م0.16 (vs ج.م0.14 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ج.م663.7m (up 14% from 1Q 2020). Net income: ج.م69.8m (up 28% from 1Q 2020). Profit margin: 11% (up from 9.4% 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 10% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ج.م6.17, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Food industry in Africa. Total loss to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م6.90 per share. Upcoming Dividend • Mar 11
Upcoming Dividend of ج.م0.60 Per Share Will be paid on the 22nd of March to those who are registered shareholders by the 18th of March. The company last paid an ordinary dividend in April 2019. The average dividend yield among industry peers is 4.2%. Is New 90 Day High Low • Feb 22
New 90-day high: ج.م7.60 The company is up 44% from its price of ج.م5.28 on 24 November 2020. The Egyptian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م6.90 per share. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improved over the past week After last week's 15% share price gain to ج.م6.74, the stock is trading at a trailing P/E ratio of 10.3x, up from the previous P/E ratio of 9x. This compares to an average P/E of 14x in the Food industry in Egypt. Total return to shareholders over the past three years is a loss of 35%. Is New 90 Day High Low • Jan 13
New 90-day high: ج.م6.20 The company is up 8.0% from its price of ج.م5.75 on 15 October 2020. The Egyptian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م6.56 per share. Is New 90 Day High Low • Nov 23
New 90-day low: ج.م5.31 The company is down 18% from its price of ج.م6.50 on 25 August 2020. The Egyptian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م4.57 per share. Is New 90 Day High Low • Nov 02
New 90-day low: ج.م5.32 The company is down 19% from its price of ج.م6.60 on 04 August 2020. The Egyptian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م4.57 per share. Is New 90 Day High Low • Sep 28
New 90-day low: ج.م5.50 The company is down 11% from its price of ج.م6.18 on 30 June 2020. The Egyptian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م4.92 per share.