Announcement • Mar 06
Sixth of October for Development and Investment Company "SODIC" (S.A.E.), Annual General Meeting, Mar 30, 2026 Sixth of October for Development and Investment Company "SODIC" (S.A.E.), Annual General Meeting, Mar 30, 2026, at 15:00 Egypt Standard Time. Location: giza Egypt Board Change • May 14
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 2 independent directors (7 non-independent directors). Independent Board Member Dalia Gamil Khorshid was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Feb 13
Sixth of October for Development and Investment Company "SODIC" (S.A.E.), Annual General Meeting, Mar 06, 2025 Sixth of October for Development and Investment Company "SODIC" (S.A.E.), Annual General Meeting, Mar 06, 2025, at 14:30 Egypt Standard Time. Location: cairo Egypt Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: ج.م0.87 (vs ج.م0.60 in 3Q 2023) Third quarter 2024 results: EPS: ج.م0.87 (up from ج.م0.60 in 3Q 2023). Revenue: ج.م2.35b (up 14% from 3Q 2023). Net income: ج.م309.0m (up 45% from 3Q 2023). Profit margin: 13% (up from 10% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ج.م62.65, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 13x in the Real Estate industry in Egypt. Total returns to shareholders of 240% over the past three years. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م46.90, the stock trades at a trailing P/E ratio of 10x. Average forward P/E is 7x in the Real Estate industry in Egypt. Total returns to shareholders of 189% over the past three years. Reported Earnings • Jul 30
Second quarter 2024 earnings released: EPS: ج.م0.66 (vs ج.م0.41 in 2Q 2023) Second quarter 2024 results: EPS: ج.م0.66 (up from ج.م0.41 in 2Q 2023). Revenue: ج.م2.10b (up 48% from 2Q 2023). Net income: ج.م235.4m (up 59% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ج.م48.00, the stock trades at a trailing P/E ratio of 10.8x. Average forward P/E is 9x in the Real Estate industry in Egypt. Total returns to shareholders of 195% over the past three years. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: ج.م1.10 (vs ج.م0.53 in 1Q 2023) First quarter 2024 results: EPS: ج.م1.10 (up from ج.م0.53 in 1Q 2023). Revenue: ج.م1.84b (up 23% from 1Q 2023). Net income: ج.م390.1m (up 108% from 1Q 2023). Profit margin: 21% (up from 13% in 1Q 2023). 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 increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ج.م53.11, the stock trades at a trailing P/E ratio of 13.8x. Average forward P/E is 10x in the Real Estate industry in Egypt. Total returns to shareholders of 239% over the past three years. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ج.م46.38, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Real Estate industry in Egypt. Total returns to shareholders of 192% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ج.م59.50, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 8x in the Real Estate industry in Egypt. Total returns to shareholders of 281% over the past three years. New Risk • Feb 20
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 10% 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 Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ج.م26.79, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Real Estate industry in Egypt. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م19.04 per share. Buy Or Sell Opportunity • Feb 01
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 9.2% to ج.م22.95. The fair value is estimated to be ج.م19.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 136% in 2 years. Earnings are forecast to grow by 262% in the next 2 years. Major Estimate Revision • Nov 05
Consensus revenue estimates increase by 27% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ج.م13.7b to ج.م17.4b. EPS estimate unchanged from ج.م3.79 at last update. Real Estate industry in Egypt expected to see average net income growth of 54% next year. Consensus price target up from ج.م22.20 to ج.م29.33. Share price was steady at ج.م21.01 over the past week. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: ج.م0.60 (vs ج.م0.40 in 3Q 2022) Third quarter 2023 results: EPS: ج.م0.60 (up from ج.م0.40 in 3Q 2022). Revenue: ج.م2.06b (up 6.9% from 3Q 2022). Net income: ج.م212.5m (up 50% from 3Q 2022). Profit margin: 10% (up from 7.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in Egypt. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ج.م20.61, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Real Estate industry in Africa. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م11.14 per share. Reported Earnings • Jul 31
Second quarter 2023 earnings released: EPS: ج.م0.41 (vs ج.م0.18 in 2Q 2022) Second quarter 2023 results: EPS: ج.م0.41 (up from ج.م0.18 in 2Q 2022). Revenue: ج.م1.42b (down 7.5% from 2Q 2022). Net income: ج.م147.8m (up 126% from 2Q 2022). Profit margin: 10% (up from 4.3% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Real Estate industry in Egypt. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ج.م20.58, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Real Estate industry in Africa. Total returns to shareholders of 141% over the past three years. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ج.م16.77, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Real Estate industry in Africa. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م6.91 per share. Major Estimate Revision • Mar 30
Consensus revenue estimates increase by 18%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ج.م8.52b to ج.م10.0b. EPS estimate fell from ج.م3.97 to ج.م3.79. Net income forecast to grow 160% next year vs 0.3% growth forecast for Real Estate industry in Egypt. Consensus price target up from ج.م20.68 to ج.م22.33. Share price rose 2.4% to ج.م13.51 over the past week. Price Target Changed • Mar 29
Price target increased by 12% to ج.م22.33 Up from ج.م19.86, the current price target is an average from 4 analysts. New target price is 65% above last closing price of ج.م13.51. Stock is up 13% over the past year. The company is forecast to post earnings per share of ج.م3.79 for next year compared to ج.م1.46 last year. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ج.م12.29, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Real Estate industry in Africa. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ج.م6.55 per share. Price Target Changed • Dec 20
Price target decreased to ج.م18.71 Down from ج.م22.31, the current price target is an average from 3 analysts. New target price is 19% above last closing price of ج.م15.69. Stock is up 7.7% over the past year. The company is forecast to post earnings per share of ج.م3.53 for next year compared to ج.م2.42 last year. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 17% share price gain to ج.م16.40, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Real Estate industry in Africa. Total returns to shareholders of 29% over the past three years. Board Change • Nov 16
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (8 non-independent directors). MD & Executive Director Magued Ahmed Mohamed Sherif is the most experienced director on the board, commencing their role in 2015. Independent Board Member Dalia Gamil Khorshid was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: ج.م0.40 (vs ج.م0.34 in 3Q 2021) Third quarter 2022 results: EPS: ج.م0.40 (up from ج.م0.34 in 3Q 2021). Revenue: ج.م1.92b (up 33% from 3Q 2021). Net income: ج.م141.8m (up 19% from 3Q 2021). Profit margin: 7.4% (down from 8.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 19% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Egypt are expected to grow by 2.7%. 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 9% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 18
Price target decreased to ج.م19.41 Down from ج.م22.31, the current price target is an average from 3 analysts. New target price is 62% above last closing price of ج.م11.99. Stock is down 26% over the past year. The company is forecast to post earnings per share of ج.م3.53 for next year compared to ج.م2.42 last year. Major Estimate Revision • May 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from ج.م3.13 to ج.م3.53. Revenue forecast steady at ج.م7.84b. Net income forecast to grow 23% next year vs 9.9% growth forecast for Real Estate industry in Egypt. Consensus price target down from ج.م22.31 to ج.م21.72. Share price was steady at ج.م11.47 over the past week. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ج.م0.64 (up from ج.م0.28 in 1Q 2021). Revenue: ج.م1.19b (up 40% from 1Q 2021). Net income: ج.م226.2m (up 125% from 1Q 2021). Profit margin: 19% (up from 12% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) also surpassed analyst estimates by 7.9%. Over the next year, revenue is forecast to grow 5.0%, compared to a 12% growth forecast for the industry in Egypt. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (8 non-independent directors). MD & Executive Director Magued Ahmed Mohamed Sherif is the most experienced director on the board, commencing their role in 2015. Independent Board Member Dalia Khorshid was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 12
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: ج.م2.42 (up from ج.م2.30 in FY 2020). Revenue: ج.م6.92b (up 24% from FY 2020). Net income: ج.م860.3m (up 5.0% from FY 2020). Profit margin: 12% (down from 15% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.9%. Over the next year, revenue is forecast to grow 8.7%, compared to a 14% growth forecast for the 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 fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Jan 17
Price target increased to ج.م22.31 Up from ج.م20.19, the current price target is an average from 5 analysts. New target price is 51% above last closing price of ج.م14.76. The company is forecast to post earnings per share of ج.م2.24 for next year compared to ج.م2.30 last year. Major Estimate Revision • Dec 18
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from ج.م2.03 to ج.م2.24. Revenue forecast steady at ج.م6.57b. Net income forecast to grow 53% next year vs 49% growth forecast for Real Estate industry in Egypt. Consensus price target up from ج.م20.19 to ج.م20.77. Share price fell 23% to ج.م14.98 over the past week. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ج.م0.34 (vs ج.م1.34 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ج.م1.44b (down 31% from 3Q 2020). Net income: ج.م119.4m (down 75% from 3Q 2020). Profit margin: 8.3% (down from 23% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 20
Price target decreased to ج.م19.41 Down from ج.م21.06, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ج.م18.78. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS ج.م0.34 (vs ج.م0.11 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ج.م1.02b (up 59% from 2Q 2020). Net income: ج.م122.5m (up 206% from 2Q 2020). Profit margin: 12% (up from 6.2% 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 19% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 01
First quarter 2021 earnings released: EPS ج.م0.28 (vs ج.م0.08 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ج.م849.0m (up 98% from 1Q 2020). Net income: ج.م100.0m (up 259% from 1Q 2020). Profit margin: 12% (up from 6.5% 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 12% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 31
Upcoming dividend of ج.م0.55 per share Eligible shareholders must have bought the stock before 07 June 2021. Payment date: 09 June 2021. Trailing yield: 3.3%. Lower than top quartile of Egyptian dividend payers (8.4%). Lower than average of industry peers (5.9%). Price Target Changed • Apr 29
Price target increased to ج.م21.43 Up from ج.م19.95, the current price target is an average from 5 analysts. New target price is 27% above last closing price of ج.م16.85. Price Target Changed • Feb 23
Price target raised to ج.م20.21 Up from ج.م18.77, the current price target is an average from 6 analysts. The new target price is 26% above the current share price of ج.م16.00. As of last close, the stock is up 26% over the past year. Is New 90 Day High Low • Feb 19
New 90-day high: ج.م16.24 The company is up 17% from its price of ج.م13.93 on 19 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 Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م23.26 per share. Is New 90 Day High Low • Jan 06
New 90-day high: ج.م15.50 The company is up 14% from its price of ج.م13.59 on 07 October 2020. The Egyptian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate 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.م26.91 per share. Is New 90 Day High Low • Dec 09
New 90-day high: ج.م15.20 The company is up 26% from its price of ج.م12.08 on 10 September 2020. The Egyptian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م18.89 per share. Price Target Changed • Nov 19
Price target raised to ج.م18.77 Up from ج.م16.94, the current price target is an average from 5 analysts. The new target price is 35% above the current share price of ج.م13.93. As of last close, the stock is down 9.8% over the past year. Is New 90 Day High Low • Nov 17
New 90-day high: ج.م13.90 The company is up 13% from its price of ج.م12.27 on 19 August 2020. The Egyptian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م19.89 per share. Is New 90 Day High Low • Nov 02
New 90-day low: ج.م11.40 The company is down 2.0% from its price of ج.م11.69 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 Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م1.90 per share. Is New 90 Day High Low • Oct 07
New 90-day high: ج.م13.59 The company is up 25% from its price of ج.م10.85 on 09 July 2020. The Egyptian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ج.م1.88 per share.