Pre-Trading Thoughts Al Ahly Pharos podcast

2y ago 3:29

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GAFI's CEO started a promotional mission to Qatar to discuss pumping new Qatari investments into the Egyptian market.

ESRS released solid 1Q22 Net Income after Minority Interest stood at EGP759 million in 1Q22 (+3% YoY, -27% QoQ). The YoY increase in earnings came despite booking EGP1.1 billion of forex losses. ESRS is trading at FY22e P/E of 2.7x and EV/EBITDA of 3.3x.

IRAX released solid 1Q22 consolidated net attributable profit recorded EGP1,184 million in 1Q22 (-14% YoY, -54% QoQ). IRAX is trading at FY22e P/E of 2.6x and EV/EBITDA of 3.1x.

Egypt to continue working with the anti-dumping duty on Turkish, Chinese and Ukrainian steel rebars imports for another year.

SWDY could invest as much as USD1.5 billion in three renewable energy projects in Africa before the end of the year.

SWDY is also studying the establishment of a USD400-300 million MW solar energy project in the new Ain Sokhna economic zone.

FAB’s CEO denied all the news circulating about merger or acquisition deals in Egypt by the bank.

An investor alliance led by WM Consultancy has submitted a non-binding offer to buy a majority stake in BTFH at an initial price of EGP 1.35 per share. Implied P/B is 1.6x.

BINV signed the final share purchase agreement to sell its 44.7% stake in Giza Systems to Saudi Telecom’s subsidiary Solutions by STC.

HRHO’s Corp-Solutions has concluded a EGP500 mn bond issuance that is the first component of a wider EGP3 billion bond program for the leasing and factoring arm.

CBE’s BoD made an amendment to the mortgage finance initiative for middle-income clients.

Misr Capital and CICH have completed the initial steps for an integration plan.

FWRY and Tanmeyah signed an agreement, where Tanmeyah’s microfinance customers can use FWRY’s platform to make payments.

Aman Consumer Finance plans to expand this year through 13 new branches during 5M2022. The company plans to reach EGP500 million of SME financing portfolio by the end of 2022.

PRDC reported net profit of EGP358.4 million in 7M (since inception).

GDWA net profit since inception (7M) is EGP114 million.

ELKA reported a net loss of EGP5.4 million compared to 1Q21 net loss of EGP24.1 million.

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