SODIC recorded strong financial and operational results in the first quarter of 2025, with net profit soaring by 143% and revenues rising by 50% compared to the same period last year, Invest-Gate reports.

Net cash collections reached EGP 4.3 bn, up from EGP 3 bn in Q1 2024. The company delivered 148 units during the quarter, including 95 units in East Cairo and 53 in West Cairo, compared to 236 units delivered in Q1 2024.

Total construction spending reached EGP 1.8 bn, up from EGP 1.4 bn last year. Revenues hit EGP 2.8 bn, driven mainly by deliveries in West Cairo, which contributed 62% of the total, with the Six West project alone accounting for 52%. East Cairo projects contributed 38%.

Gross profit rose to EGP 1.8 bn with a margin of 65%, marking a 173% increase. Operating profit came in at EGP 1.3 bn with a margin of 48%, up 255% from last year. Net profit after tax and minority interests reached EGP 951 mn, with earnings per share at EGP 2.67.

The company maintains strong liquidity with EGP 4.4 bn in cash and equivalents. Leverage remains low, with a debt-to-equity ratio of 0.33x and total bank debt standing at EGP 4.1 bn.

SODIC’s backlog of receivables reached EGP 80.9 bn, supporting visibility into future cash flows. The company also reported EGP 87.4 bn in unrecognized revenues from sold units under development.

Commenting on the results, Ayman Amer, General Manager of SODIC, said, “We are pleased to announce another strong quarter, reflecting our commitment to sustainable value creation and future expansion.”