SODIC Displays Robust Growth Across Key Metrics with 25% increase in Revenues, 78% in Deliveries, 201% in Gross Sales and 18% in Net Cash Collections, Invest-Gate reports.
Gross sales of EGP 23.5 billion, up 201% YoY.
Revenues amounted to EGP 6 billion, up by 25% YoY.
Net Cash collections of EGP 10.2 billion, up by 18% YoY.
Gross profit stood at EGP 1.6 billion, with a gross profit margin of 27%.
Operating profit recorded EGP 942 million, implying an operating profit margin of 16%.
Net profit after tax recorded EGP 834 million, delivering a net profit margin of 14%.
Management Comment
Commenting on the results Ayman Amer SODIC’s General Manager said “We are happy to report a solid set of results for the first half of 2026, reflecting robust growth across revenues, deliveries, sales and collections. This growth is a testament to the company’s commitment to its customers and in turn the customers continuous trust and loyalty to the brand. We are also excited to celebrate the unveiling of the first Nobu Residences in Egypt, the lifestyle-led world class offering in Ogami, our newest signature development on the North Coast.”
Key Corporate Highlights
April 28th: SODIC signed an Escrow Account Contract with Banque Misr and Midar for Eastvale Development in New Cairo.
June 19th: SODIC and Nobu Hospitality introduce the first Nobu Residences in Egypt, unveiled by Robert De Niro as part of Nobu’s landmark expansion in the country.
June 24th: SODIC celebrated the opening of Nobu New Cairo at Eastown District New Cairo (EDNC), attended by Chef Nobu Matsuhisa.
Operational Review
Half Year Ended 30th of June 2026
Gross Sales
Gross sales reached EGP 23.5 billion, an increase of 201% over EGP 7.8 billion of gross sales recorded during the first half of 2025.
Collections
Net cash collections reached EGP 10.2 billion for the period, representing an 18.6% increase compared to collections of EGP 8.6 billion recorded during the first half of 2025.
Deliveries
SODIC delivered 557 units during the first six months, up 78% YoY, of which 192 were in West Cairo projects, while East Cairo accounted for 63 of the delivered units and North coast accounted for 302 of the delivered units. This compares to 313 units delivered during the same period of 2025.
CAPEX
CAPEX spent on construction during 2026 amounted to EGP 5.3 billion, representing an 8% increase compared to EGP 4.9 billion spent during the same period last year.
Financial Review
Income Statement
First six months ended 30th of June 2026
Revenues of EGP 6 billion were recorded during the period, representing a 25% increase compared to EGP 4.8 billion of revenues recorded during the same period last year. Revenues were driven by deliveries in West Cairo projects which accounted for 41% of SODIC’s deliveries by value. West Cairo project VYE separately accounted for 35% of the value delivered during the first half of 2026, while East Cairo contributed 20% of the delivered value.
Gross profit came in at EGP 1.6 billion, implying a gross profit margin of 27%.
Operating profit of EGP 942 million was recorded during 2026, reflecting an operating profit margin of 16%.
Net profit after tax and non-controlling interest came in at EGP 834 million, implying a net profit margin of 14% and EPS of EGP 0.65.
Balance Sheet
SODIC continues to maintain a strong liquidity position with total cash and cash equivalents amounting to EGP 4 billion.
Bank leverage remains low, with bank debt to equity standing at 0.66x. Bank debt outstanding amounted to EGP 11 billion as of 30 June 2026. Debt to equity amounted to 0.62x at year-end 2025, with EGP 9.8 billion of outstanding debt.
Total receivables stood at EGP 102.1 billion, of which EGP 22.1 billion are short-term receivables providing strong cash flow visibility for the company. A total of EGP 13.4 billion of receivables are reported on the balance sheet, reflecting only the receivables related to delivered units already recognized as revenue. On the other hand, some EGP 88.8 billion of receivables related to undelivered units are disclosed in the footnotes.
SODIC’s total backlog of unrecognized revenue stood at EGP 116 billion as of 30 June 2026, providing strong revenue visibility for the company.