Announcement • Mar 06
Delta Sugar Company, Annual General Meeting, Mar 29, 2026 Delta Sugar Company, Annual General Meeting, Mar 29, 2026, at 14:30 Egypt Standard Time. Location: giza Egypt Announcement • Mar 06
Delta Sugar Company, Annual General Meeting, Mar 26, 2025 Delta Sugar Company, Annual General Meeting, Mar 26, 2025, at 13:30 Egypt Standard Time. Location: giza Egypt Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: ج.م5.56 (vs ج.م1.82 in 3Q 2023) Third quarter 2024 results: EPS: ج.م5.56. Revenue: ج.م1.37b (down 34% from 3Q 2023). Net income: ج.م32.0m (down 90% from 3Q 2023). Profit margin: 2.3% (down from 15% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Food industry in Egypt. Buy Or Sell Opportunity • Sep 01
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 4.8% to ج.م63.50. The fair value is estimated to be ج.م51.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 0.3% per annum over the same time period. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: ج.م3.68 (vs ج.م4.37 in 2Q 2023) Second quarter 2024 results: EPS: ج.م3.68. Revenue: ج.م1.74b (down 51% from 2Q 2023). Net income: ج.م762.2m (up 23% from 2Q 2023). Profit margin: 44% (up from 18% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Food industry in Egypt. Announcement • Aug 01
Delta Sugar Company(CASE:SUGR) dropped from EGX 30 Index Delta Sugar Company has been dropped from EGX 30 Index. Major Estimate Revision • Jul 31
Consensus EPS estimates increase by 25% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ج.م11.75 to ج.م14.64. Revenue forecast steady at ج.م9.29b. Net income forecast to grow 96% next year vs 50% growth forecast for Food industry in Egypt. Consensus price target up from ج.م83.92 to ج.م91.46. Share price fell 2.7% to ج.م61.90 over the past week. Major Estimate Revision • May 21
Consensus revenue estimates increase by 11%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ج.م8.47b to ج.م9.42b. EPS estimate fell from ج.م13.10 to ج.م11.75. Net income forecast to grow 49% next year vs 69% growth forecast for Food industry in Egypt. Consensus price target of ج.م81.68 unchanged from last update. Share price rose 6.9% to ج.م57.03 over the past week. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: ج.م1.25 (vs ج.م1.86 in 1Q 2023) First quarter 2024 results: EPS: ج.م1.25 (down from ج.م1.86 in 1Q 2023). Revenue: ج.م740.5m (down 4.4% from 1Q 2023). Net income: ج.م216.8m (down 18% from 1Q 2023). Profit margin: 29% (down from 34% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 8.6% 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 97% per year but the company’s share price has only increased by 87% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: ج.م9.10 (vs ج.م4.87 in FY 2022) Full year 2023 results: EPS: ج.م9.10 (up from ج.م4.87 in FY 2022). Revenue: ج.م8.33b (up 118% from FY 2022). Net income: ج.م1.59b (up 130% from FY 2022). Profit margin: 19% (in line with FY 2022). Revenue is expected to decline by 5.2% p.a. on average during the next 3 years, while revenues in the Food industry in Egypt are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 75% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to ج.م59.00, 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 477% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م36.05 per share. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ج.م80.67, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Food industry in Egypt. Total returns to shareholders of 976% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م49.99 per share. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ج.م64.17, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Food industry in Africa. Total returns to shareholders of 798% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م37.74 per share. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ج.م83.18, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Food industry in Africa. Total returns to shareholders of 1,057% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م38.38 per share. Major Estimate Revision • Nov 14
Consensus revenue estimates increase by 18% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from ج.م5.61b to ج.م6.63b. EPS estimate increased from ج.م8.82 to ج.م11.02 per share. Net income forecast to grow 31% next year vs 41% growth forecast for Food industry in Egypt. Consensus price target up from ج.م47.33 to ج.م54.77. Share price rose 10% to ج.م70.73 over the past week. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ج.م65.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Food industry in Egypt. Total returns to shareholders of 724% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م32.60 per share. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ج.م3.98 (vs ج.م2.67 in 2Q 2022) Second quarter 2023 results: EPS: ج.م3.98 (up from ج.م2.67 in 2Q 2022). Revenue: ج.م3.55b (up 86% from 2Q 2022). Net income: ج.م823.7m (up 117% from 2Q 2022). Profit margin: 23% (up from 20% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 4.5% p.a. on average during the next 3 years, while revenues in the Food industry in Egypt are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth. New Risk • Jun 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Egyptian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. High level of non-cash earnings (59% accrual ratio). Minor Risks Dividend is not well covered by cash flows (110% cash payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). New Risk • Jun 13
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 110% Dividend yield: 6.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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: Major Risks Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. High level of non-cash earnings (59% accrual ratio). Minor Risk Dividend is not well covered by cash flows (110% cash payout ratio). Upcoming Dividend • Jun 13
Upcoming dividend of ج.م2.55 per share at 6.2% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 22 June 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 6.2%. Lower than top quartile of Egyptian dividend payers (8.0%). Higher than average of industry peers (3.6%). Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م41.58, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 13x in the Food industry in Egypt. Total returns to shareholders of 500% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م31.39 per share. Reported Earnings • May 28
First quarter 2023 earnings released: EPS: ج.م1.86 (vs ج.م0.45 in 1Q 2022) First quarter 2023 results: EPS: ج.م1.86 (up from ج.م0.45 in 1Q 2022). Revenue: ج.م774.5m (up 29% from 1Q 2022). Net income: ج.م323.8m (up 405% from 1Q 2022). Profit margin: 42% (up from 11% in 1Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 2.1% 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 124% per year but the company’s share price has only increased by 74% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م40.27, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Food industry in Egypt. Total returns to shareholders of 447% over the past three years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م27.02, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 11x in the Food industry in Egypt. Total returns to shareholders of 218% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 18% share price gain to ج.م20.67, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 10x in the Food industry in Egypt. Total returns to shareholders of 116% over the past three years. Price Target Changed • Nov 16
Price target increased to ج.م17.00 Up from ج.م9.53, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ج.م16.50. Stock is up 34% over the past year. The company posted earnings per share of ج.م0.72 last year. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م14.65, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 9x in the Food industry in Egypt. Total returns to shareholders of 36% 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 16% share price gain to ج.م11.17, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 9x in the Food industry in Egypt. Total loss to shareholders of 6.1% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ج.م11.04, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 10x in the Food industry in Egypt. Total loss to shareholders of 17% over the past three years. Reported Earnings • May 28
First quarter 2021 earnings released: EPS ج.م0.54 (vs ج.م0.83 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ج.م224.7m (down 72% from 1Q 2020). Net income: ج.م76.8m (up ج.م195.6m from 1Q 2020). Profit margin: 34% (up from net loss in 1Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2020 earnings released The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ج.م3.25b (up 37% from FY 2019). Net loss: ج.م254.0m (down ج.م296.8m from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 92% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 22
New 90-day high: ج.م11.03 The company is up 36% from its price of ج.م8.13 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. Is New 90 Day High Low • Jan 27
New 90-day high: ج.م8.93 The company is up 9.0% from its price of ج.م8.16 on 28 October 2020. The Egyptian market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: ج.م7.60 The company is down 9.0% from its price of ج.م8.38 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. Is New 90 Day High Low • Nov 01
New 90-day low: ج.م7.89 The company is down 2.0% from its price of ج.م8.09 on 29 July 2020. The Egyptian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is down 4.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day high: ج.م9.73 The company is up 21% from its price of ج.م8.07 on 15 July 2020. The Egyptian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day high: ج.م9.16 The company is up 17% from its price of ج.م7.83 on 25 June 2020. The Egyptian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 3.0% over the same period.