Price Target Changed • May 20
Price target increased by 12% to ج.م75.50 Up from ج.م67.20, the current price target is provided by 1 analyst. New target price is 17% above last closing price of ج.م64.60. Stock is up 70% over the past year. The company posted earnings per share of ج.م10.35 last year. Duyuru • Mar 13
Sinai Cement Co. (S.A.E), Annual General Meeting, Apr 07, 2026 Sinai Cement Co. (S.A.E), Annual General Meeting, Apr 07, 2026, at 16:00 Egypt Standard Time. Location: cairo Egypt New Risk • May 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ج.م4.98b (US$99.2m) 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 Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (90% accrual ratio). Minor Risk Market cap is less than US$100m (ج.م4.98b market cap, or US$99.2m). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: ج.م1.48 (vs ج.م2.26 in 1Q 2024) First quarter 2025 results: EPS: ج.م1.48 (down from ج.م2.26 in 1Q 2024). Revenue: ج.م2.02b (up 73% from 1Q 2024). Net income: ج.م197.3m (down 35% from 1Q 2024). Profit margin: 9.8% (down from 26% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has only increased by 81% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 04
Sinai Cement Co. (S.A.E), Annual General Meeting, Apr 28, 2025 Sinai Cement Co. (S.A.E), Annual General Meeting, Apr 28, 2025, at 15:00 Egypt Standard Time. Location: cairo Egypt New Risk • Nov 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 120% 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 Risks Share price has been highly volatile over the past 3 months (18% average weekly change). High level of non-cash earnings (120% accrual ratio). Minor Risk Market cap is less than US$100m (ج.م4.42b market cap, or US$89.8m). Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: ج.م15.76 (vs ج.م0.31 loss in 3Q 2023) Third quarter 2024 results: EPS: ج.م15.76 (up from ج.م0.31 loss in 3Q 2023). Revenue: ج.م1.76b (up 104% from 3Q 2023). Net income: ج.م2.10b (up ج.م2.14b from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 125% 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 • Sep 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ج.م37.68, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 13x in the Basic Materials industry in Africa. Total returns to shareholders of 526% over the past three years. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ج.م36.20, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 13x in the Basic Materials industry in Africa. Total returns to shareholders of 501% over the past three years. Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: ج.م2.67 (vs ج.م0.12 loss in 2Q 2023) Second quarter 2024 results: EPS: ج.م2.67 (up from ج.م0.12 loss in 2Q 2023). Revenue: ج.م1.52b (up 36% from 2Q 2023). Net income: ج.م355.8m (up ج.م372.3m from 2Q 2023). Profit margin: 23% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 15
Aalborg Portland Holding A/S acquired 25.40% stake in Sinai White Portland Cement Company S.A.E. from Sinai Cement Co. (S.A.E) (CASE:SCEM). Aalborg Portland Holding A/S acquired 25.40% stake in Sinai White Portland Cement Company S.A.E. from Sinai Cement Co. (S.A.E) (CASE:SCEM) for €30 million on August 13, 2024. Following this transaction Cementir will indirectly hold 96.5% of the share capital of SWCC.
Aalborg Portland Holding A/S completed the acquisition of 25.40% stake in Sinai White Portland Cement Company S.A.E. from Sinai Cement Co. (S.A.E) (CASE:SCEM) on August 13, 2024. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ج.م12.64, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 14x in the Basic Materials industry in Africa. Total returns to shareholders of 79% over the past three years. New Risk • Mar 30
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. High level of non-cash earnings (51% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (ج.م1.66b market cap, or US$34.9m). Reported Earnings • Nov 18
Third quarter 2022 earnings released: ج.م1.63 loss per share (vs ج.م0.94 loss in 3Q 2021) Third quarter 2022 results: ج.م1.63 loss per share (further deteriorated from ج.م0.94 loss in 3Q 2021). Revenue: ج.م594.1m (up 72% from 3Q 2021). Net loss: ج.م74.3m (loss widened 17% from 3Q 2021). New Risk • Oct 31
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 7.6% 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: Minor Risks Negative equity (-ج.م218m). Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (ج.م994.0m market cap, or US$32.1m). Reported Earnings • Aug 17
Second quarter 2022 earnings released: ج.م0.16 loss per share (vs ج.م1.64 loss in 2Q 2021) Second quarter 2022 results: ج.م0.16 loss per share (improved from ج.م1.64 loss in 2Q 2021). Revenue: ج.م549.7m (up 54% from 2Q 2021). Net loss: ج.م36.1m (loss narrowed 68% from 2Q 2021). Duyuru • Dec 27
Sinai Cement Co. (S.A.E), Annual General Meeting, Jan 19, 2023 Sinai Cement Co. (S.A.E), Annual General Meeting, Jan 19, 2023. Duyuru • Dec 15
An unknown buyer acquired a 3.1% stake in Sinai Cement Co. (S.A.E) from Industrial Investments Co. for EGP 26.8 million. An unknown buyer acquired a 3.1% stake in Sinai Cement Co. (S.A.E) from Industrial Investments Co. for EGP 26.8 million on December 13, 2022.An unknown buyer completed the acquisition of a 3.1% stake in Sinai Cement Co. (S.A.E) from Industrial Investments Co. on December 13, 2022. Duyuru • Apr 12
Vicat Cement Egypt made the offer to acquire remaining 42.12% stake in Sinai Cement Co. (S.A.E) (CASE:SCEM) for approximately EGP 380 million. Vicat Cement Egypt made the offer to acquire remaining 42.12% stake in Sinai Cement Co. (S.A.E) (CASE:SCEM) for approximately EGP 380 million on April 10, 2022. As per the transaction, Vicat Cement Egypt made the offer to acquire 56.064 million shares at EGP 6.74 per share. Post completion, Vicat Cement Egypt will hold 100% stake of Sinai Cement Co. (S.A.E). The Financial Regulatory Authority of Egypt has approved the transaction. Reported Earnings • Apr 08
Full year 2021 earnings released: ج.م5.20 loss per share (vs ج.م8.23 loss in FY 2020) Full year 2021 results: ج.م5.20 loss per share (up from ج.م8.23 loss in FY 2020). Revenue: ج.م1.44b (up 62% from FY 2020). Net loss: ج.م354.0m (loss narrowed 37% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 07
Full year 2020 earnings released: ج.م8.23 loss per share (vs ج.م6.56 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ج.م889.2m (up 18% from FY 2019). Net loss: ج.م560.3m (loss widened 26% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Jan 27
New 90-day high: ج.م5.20 The company is up 13% from its price of ج.م4.60 on 28 October 2020. The Egyptian market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 23
New 90-day low: ج.م4.18 The company is down 10.0% from its price of ج.م4.64 on 23 September 2020. The Egyptian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 7.0% over the same period. Reported Earnings • Dec 03
Third quarter 2020 earnings released: ج.م2.60 loss per share The company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: ج.م218.1m (up 2.1% from 3Q 2019). Net loss: ج.م177.4m (loss widened 40% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Dec 01
New 90-day high: ج.م5.34 The company is up 6.0% from its price of ج.م5.02 on 02 September 2020. The Egyptian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is down 6.0% over the same period.