Year 2026 Q3 Operational & Financial Highlights
- Gross sales of EGP 42.4 billion, up 116% YoY, almost achieving 2025 full year sales
- Revenues amounted to EGP 10.8 billion, up by 2% YoY
- Net Cash collections of EGP 16.9 billion, up by 18% YoY
- Gross profit stood at EGP 2.8 billion, with a gross profit margin of 26%
- Operating profit recorded EGP 1.4 billion, implying an operating profit margin of 13%
- Net profit after tax recorded EGP 1.3 billion, delivering a net profit margin of 12%
Commenting on the results Ayman Amer SODIC’s General Manager said “We are happy to report a strong set of results for the nine-month period. We have had a solid quarter in terms of sales driven by robust performance across our North Coast portfolio. With growth across key metrics, we expect the momentum to continue to close a strong set of end of year results”
Operational Review
‘9 Months Year Ended 30th of September 2026
Gross Sales
Gross sales reached EGP 42.4 billion, an increase of 116% over EGP 19.6 billion of gross sales recorded during the 9 months of 2025, of which 6.07 Bn in West Cairo projects, while East Cairo accounted for 12.08 billion and North Coast accounted for 24.26 billion
Collections
Net cash collections reached EGP 16.9 billion for the period, representing an 18.4% increase compared to collections of EGP 14.3 billion recorded during the 9 months of 2025.
Deliveries
SODIC delivered 1,001 units during the first nine months, up 8% YoY, of which 344 were in West Cairo projects, while East Cairo accounted for 99 of the delivered units and North coast accounted for 558 of the delivered units. This compares to 926 units delivered during the same period of 2025.
CAPEX
CAPEX spent on construction during 2026 amounted to EGP 8.4 billion, representing a 1% increase compared to EGP 8.3 billion spent during the same period last year.
Financial Review
Income Statement
First Nine months ended 30th of September 2026
Revenues of EGP 10.8 billion were recorded during the period, representing a 2% increase compared to EGP 10.6 billion of revenues recorded during the same period last year. Revenues were driven by deliveries in West Cairo projects which accounted for 42% of SODIC’s deliveries by value. West Cairo project VYE separately accounted for 32% of the value delivered during the first Nine months of 2026, while East Cairo contributed 20% of the delivered value.
Gross profit came in at EGP 2.8 billion, implying a gross profit margin of 26%, versus EGP 4.65 billion and 43% respectively for the same period in 2025. The decrease year on year is primarily due to the difference in delivery product mix. Deliveries in 2026 were largely driven by projects most impacted by the consecutive devaluations, impacting margins. This also compares to a high base in 2025 that entailed high margin ready to move deliveries.
Operating profit of EGP 1.4 billion was recorded during 2026, reflecting an operating profit margin of 13% versus EGP 3.2 billion and 31% in 2025 respectively.
Net profit after tax and non-controlling interest came in at EGP 1.3 billion, implying a net profit margin of 12% and EPS of EGP 1, versus EGP 2.35 billion, 22% and EPS EGP 1.82 in 2025 respectively.
Balance Sheet
SODIC continues to maintain a strong liquidity position with total cash and cash equivalents amounting to EGP 4.7 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 September 2026. Debt to equity amounted to 0.62 x at year-end 2025, with EGP 9.8 billion of outstanding debt.
Total receivables stood at EGP 119.1 billion, of which EGP 25.1 billion are short-term receivables providing strong cash flow visibility for the company. A total of EGP 13.7 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 105.3 billion of receivables related to undelivered units are disclosed in the footnotes.
SODIC’s total backlog of unrecognized revenue stood at EGP 133.7 billion as of 30 September 2026, providing strong revenue visibility for the company.
