SODIC Displays 143% Growth in Net Profit YoY and 50% Increase in Revenues

Sixth of October Development & Investment Company “SODIC” has released its consolidated financial results for the period ended 31st of March 2025.

Operational & Financial Highlights

       Revenues EGP 2.8 billion, up by 50% YoY.

       Net Cash collections EGP 4.3 billion

       Gross profit: EGP 1.8 billion, up 173% YoY, reflecting a gross profit margin of 65% 

       Operating profit: EGP 1.3 billion, up 255% YoY, implying an operating profit margin of 48%

       Net profit after tax EGP 953 million, up 143% YoY, delivering a net profit margin of 35%

Net cash collections reached EGP 4.3 billion for the period, this compares to collections of EGP 3 billion recorded during the first quarter of 2024.

SODIC delivered 148 units during the first three months, of which 95 were in East Cairo projects, while West Cairo accounted for 53 of the delivered units. This compares to 236 units delivered during the same quarter of 2024. 

CAPEX spent on construction during 2025 amounted to EGP 1.8 billion, compared to EGP 1.4 billion spent during the same period last year.

Revenues of EGP 2.8 billion were recorded during the period, representing a 50% Increase compared to EGP 1.8 billion of revenues recorded during the same period last year. Revenues were driven by deliveries in West Cairo projects which accounted for 62% of SODIC’s deliveries by value. West Cairo project Six West separately accounted for 52% of the value delivered during the first quarter of 2025. East Cairo contributed 38% of the delivered value.

Gross profit came in at EGP 1.8 billion, implying a gross profit margin of 65%, and gross profits recorded a 173% growth YoY.

Operating profit of EGP 1.3 billion was recorded during 2025, reflecting an operating profit margin of 48% growing 255% YoY. 

Net profit after tax and non-controlling interest came in at EGP 951 million, implying a net profit margin of 35% and EPS of EGP 2.67. 

SODIC continues to maintain a strong liquidity position with total cash and cash equivalents amounting to EGP 4.4 billion.

Bank leverage remains low, with bank debt to equity standing at 0.33x. Bank debt outstanding amounted to EGP 4.1 billion as of 31 March 2025. Debt to equity amounted to 0.33x at year-end 2024, with EGP 4.8 billion of outstanding debt.

Total receivables stood at EGP 80.9 billion, of which EGP 17 billion are short-term receivables providing strong cash flow visibility for the company. A total of EGP 9.1 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 71.8 billion of receivables are related to undelivered units.

SODIC’s total backlog of unrecognized revenue stood at EGP 87.4 billion as of 31 March 2025, providing strong revenue visibility for the company. 

Commenting on the results Ayman Amer SODIC’s General Manager said “We are happy to report a strong set of financial results for the first quarter of 2025, marked by substantial growth in revenues and profits. This achievement further underscores our steadfast commitment to creating sustainable value that will drive our strategic growth and future expansions. We look forward to another year of growth and record-breaking achievements.