Board Change • 14h
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 not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 2 independent directors (9 non-independent directors). Independent Director Mona El Garf was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 15
Cairo Poultry Company S.A.E. announces Annual dividend, payable on April 29, 2026 Cairo Poultry Company S.A.E. announced Annual dividend of EGP 0.3300 per share payable on April 29, 2026, ex-date on April 27, 2026 and record date on April 28, 2026. Announcement • Mar 11
Cairo Poultry Company S.A.E., Annual General Meeting, Apr 01, 2026 Cairo Poultry Company S.A.E., Annual General Meeting, Apr 01, 2026, at 15:00 Egypt Standard Time. Location: giza Egypt Price Target Changed • May 14
Price target increased by 24% to ج.م22.65 Up from ج.م18.25, the current price target is an average from 2 analysts. New target price is 6.8% above last closing price of ج.م21.20. Stock is up 238% over the past year. The company is forecast to post earnings per share of ج.م4.33 next year compared to a net loss per share of ج.م0.014 last year. Board Change • May 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director Mona El Garf was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 12
Cairo Poultry Company S.A.E., Annual General Meeting, Apr 07, 2025 Cairo Poultry Company S.A.E., Annual General Meeting, Apr 07, 2025, at 14:30 Egypt Standard Time. Location: giza Egypt Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: ج.م0.03 (vs ج.م0.12 in 3Q 2023) Third quarter 2024 results: EPS: ج.م0.03. Revenue: ج.م3.86b (up 30% from 3Q 2023). Net income: ج.م681.8m (up ج.م622.6m from 3Q 2023). Profit margin: 18% (up from 2.0% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 13% growth forecast for the Food industry in Egypt. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ج.م13.39, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Food industry in Egypt. Total returns to shareholders of 377% over the past three years. New Risk • Oct 11
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 250% Dividend yield: 7.5% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (250% payout ratio). Profit margins are more than 30% lower than last year (1.2% net profit margin). Buy Or Sell Opportunity • Oct 07
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 41% to ج.م11.35. The fair value is estimated to be ج.م9.01, 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 60%. Revenue is forecast to grow by 6.1% in 2 years. Earnings are forecast to grow by 606% in the next 2 years. New Risk • Aug 21
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: 1.2% Last year net profit margin: 5.3% 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: Minor Risks Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (ج.م4.55b market cap, or US$93.3m). Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: ج.م0.06 (vs ج.م0.17 in 2Q 2023) Second quarter 2024 results: EPS: ج.م0.06. Revenue: ج.م3.37b (up 21% from 2Q 2023). Net income: ج.م573.4m (up ج.م493.6m from 2Q 2023). Profit margin: 17% (up from 2.9% in 2Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • May 30
First quarter 2024 earnings released: EPS: ج.م0.14 (vs ج.م0.15 in 1Q 2023) First quarter 2024 results: EPS: ج.م0.14. Revenue: ج.م3.43b (up 23% from 1Q 2023). Net income: ج.م547.7m (up ج.م477.1m from 1Q 2023). Profit margin: 16% (up from 2.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 13% growth forecast for the Food industry in Egypt. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ج.م8.63, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 8x in the Food industry in Egypt. Total returns to shareholders of 205% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م7.45 per share. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ج.م11.70, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Food industry in Egypt. Total returns to shareholders of 259% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م6.84 per share. New Risk • Nov 30
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: 2.4% Last year net profit margin: 4.3% 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 Risk Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (2.4% net profit margin). Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ج.م6.85, the stock trades at a trailing P/E ratio of 7x. Average forward P/E is 10x in the Food industry in Egypt. Total returns to shareholders of 124% over the past three years. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ج.م6.13, the stock trades at a trailing P/E ratio of 6.2x. Average forward P/E is 10x in the Food industry in Egypt. Total returns to shareholders of 108% over the past three years. New Risk • Sep 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.08% 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 Risks Earnings are forecast to decline by an average of 0.08% per year for the foreseeable future. High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (ج.م2.51b market cap, or US$80.9m). Buying Opportunity • May 17
Now 21% undervalued Over the last 90 days, the stock is up 29%. The fair value is estimated to be ج.م5.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Mar 12
Now 22% undervalued Over the last 90 days, the stock is up 41%. The fair value is estimated to be ج.م5.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Mar 06
Price target increased by 10% to ج.م4.40 Up from ج.م4.00, the current price target is an average from 2 analysts. New target price is 20% above last closing price of ج.م3.68. Stock is up 42% over the past year. The company posted a net loss per share of ج.م0.13 last year. Buying Opportunity • Nov 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.0%. The fair value is estimated to be ج.م3.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Meanwhile, the company became loss making. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 1 independent director. 9 non-independent directors. Independent Director Khaled Ismail was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Price Target Changed • Jun 23
Price target decreased to ج.م3.26 Down from ج.م4.15, the current price target is provided by 1 analyst. New target price is 48% above last closing price of ج.م2.21. Stock is down 29% over the past year. The company is forecast to post earnings per share of ج.م0.39 next year compared to a net loss per share of ج.م0.13 last year. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 1 independent director. 9 non-independent directors. Independent Director Khaled Ismail was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 07
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ج.م1.23b (up 18% from 3Q 2020). Net income: ج.م42.3m (up 26% from 3Q 2020). Profit margin: 3.4% (up from 3.2% 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 92% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improved over the past week After last week's 19% share price gain to ج.م3.89, the stock trades at a trailing P/E ratio of 16.8x. Average forward P/E is 10x in the Food industry in Egypt. Total loss to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 19% share price gain to ج.م3.65, the stock trades at a trailing P/E ratio of 18x. Average forward P/E is 10x in the Food industry in Egypt. Total loss to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 18% share price gain to ج.م3.33, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 13x in the Food industry in Egypt. Total loss to shareholders of 45% over the past three years. Upcoming Dividend • May 11
Upcoming dividend of ج.م0.16 per share Eligible shareholders must have bought the stock before 18 May 2021. Payment date: 20 May 2021. Trailing yield: 5.5%. Lower than top quartile of Egyptian dividend payers (8.2%). Higher than average of industry peers (4.9%). Analyst Estimate Surprise Post Earnings • Mar 05
Revenue misses expectations Revenue missed analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 11%, compared to a 10% growth forecast for the Food industry in Egypt. Reported Earnings • Mar 05
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ج.م4.18b (down 5.4% from FY 2019). Net income: ج.م103.4m (up ج.م88.0m from FY 2019). Profit margin: 2.5% (up from 0.3% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 81% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 10
New 90-day high: ج.م3.40 The company is up 5.0% from its price of ج.م3.23 on 12 November 2020. The Egyptian market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: ج.م2.83 The company is down 19% from its price of ج.م3.49 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.م7.91 per share. Is New 90 Day High Low • Oct 21
New 90-day low: ج.م3.36 The company is down 4.0% from its price of ج.م3.49 on 22 July 2020. The Egyptian market is up 9.0% 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. Price Target Changed • Oct 06
Price target lowered to ج.م5.10 Down from ج.م5.70, the current price target is provided by 1 analyst. The new target price is 47% above the current share price of ج.م3.46. As of last close, the stock is down 37% over the past year. Announcement • Jul 22
Cairo Three A for International Industries S.A.E. completed the acquisition of 97.47% stake in The Egyptian Starch and Glucose Company (CASE:ESGI) from Egyptian International Tourism Projects Company (CASE:EITP), Cairo Poultry Company S.A.E. (CASE:POUL) and Kuwait Food Company (Americana) K.S.C.P. and others for approximately EGP 420 million. Cairo Three A for International Industries S.A.E. made a binding offer to acquire The Egyptian Starch and Glucose Company (CASE:ESGI) from Egyptian International Tourism Projects Company (CASE:EITP), Cairo Poultry Company S.A.E. (CASE:POUL) and Kuwait Food Company (Americana) K.S.C.P. and others for approximately EGP 510 million on January 30, 2020. The Offer is priced at a price ranging from EGP 450 million to EGP 510 million implying a price per share of ranging from EGP 8.986 to EGP 10.184. The determination of the final price within the Range is subject to a confirmatory due diligence exercise which the Cairo Three A for International Industries S.A.E. will conclude on or before April 9, 2020. As of April 8, 2020, Cairo Three A revised the offer per share price to EGP 8.54 per share. As of April 12, 2020, Cairo Poultry shareholders approve final offer price of EGP 8.54 per share. Egyptian International Tourism Projects Company (CASE:EITP), Cairo Poultry Company S.A.E. (CASE:POUL) and Kuwait Food Company (Americana) K.S.C.P. will pay a termination fee of EGP 22.5 million in case they do not tender the shares in response to a competing offer.
The deal is subject to approval of the The Egyptian Financial Regulatory Authority. The board of directors of the Egyptian Company for International Touristic Projects (Americana Egypt) and the Board of Cairo Poultry approved the Cairo Three A’s offer. The deal is approved by Board of Cairo Three A for International Industries S.A.E. According to the Offer, the Cairo Three A for International Industries S.A.E is suggesting the filling of a mandatory tender offer application on or before April 12, 2020. As of April 26, 2020, The Egyptian Financial Regulatory Authority approved the tender offer. The Offer contains an exclusivity period that lapses upon the consummation of the transfer of shares under the mandatory tender offer. As of March 10, 2020, Kuwait Food Company (Americana) K.S.C.P. has called for a general assembly meeting to review the offer submitted by Cairo Three A for International Industries. As of May 5, 2020, the shareholders of Cairo Poultry have approved the acquisition. Americana owns 11.636 million shares in The Egyptian Starch and Glucose Company. The tender offer is expected to commence from April 26, 2020 till May 7, 2020.
Cairo Three A for International Industries S.A.E. completed the acquisition of 97.47% stake in The Egyptian Starch and Glucose Company (CASE:ESGI) from Egyptian International Tourism Projects Company (CASE:EITP), Cairo Poultry Company S.A.E. (CASE:POUL) and Kuwait Food Company (Americana) K.S.C.P. and others for approximately EGP 420 million on May 7, 2020. Cairo Three A for International Industries S.A.E. acquired 48.81 million shares, Americana Egypt sold 11.63 millions shares and Cairo Poultry sold 13.65 million shares. Adsero - Ragy Soliman & Partners acted as legal advisor for Americana Group. 
