Sixth of October Development & Investment Company “SODIC” has released its consolidated financial results for the period ended 30th of June 2025.
Net cash collections reached EGP 8.5 billion for the period, this compares to collections of EGP 5.95 billion recorded during the first half of the year.
SODIC delivered 313 units during the first six months, of which 148 were in East Cairo projects, while West Cairo accounted for 165 of the delivered units. This compares to 478 units delivered during the same period in 2024.
CAPEX spent on construction during 2025 amounted to EGP 4.9 billion, compared to EGP 3.1 billion spent during the same period last year.
Revenues of EGP 4.8 billion were recorded during the period, representing a 22% increase compared to EGP 3.9 billion of revenues recorded during the same period last year. Revenues were driven by deliveries in West Cairo projects which accounted for 56% of SODIC’s deliveries by value, while East Cairo contributed 44% of the delivered value.
Gross profit came in at EGP 2.8 billion, implying a gross profit margin of 58% and recording a 96% growth YoY.
Operating profit of EGP 1.8 billion was recorded during 2025, reflecting an operating profit margin of 38%, growing by 155% YoY.
Net profit after tax and non-controlling interest came in at EGP 1,298 million, implying a net profit margin of 27% and EPS of EGP 3.64.
SODIC continues to maintain a strong liquidity position with total cash and cash equivalents amounting to EGP 2.4 billion.
Bank leverage remains low, with bank debt to equity standing at 0.39x. Bank debt outstanding amounted to EGP 4.9 billion as of 30 June 2025. Debt to equity amounted to 0.33x at year-end 2024, with EGP 3.8 billion of outstanding debt.
Total receivables stood at EGP 81.1 billion, of which EGP 18.5 billion are short-term receivables providing strong cash flow visibility for the company. A total of EGP 8.9 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 72.2 billion of receivables related to undelivered units are disclosed in the footnotes.
SODIC’s total backlog of unrecognized revenue stood at EGP 89.4 billion as of 30 June 2025, providing strong revenue visibility for the company.
Commenting on the results, Ayman Amer, General Manager of SODIC, said: “We are pleased to report another strong set of financial results for the first half of 2025, showing a remarkable 107% YoY growth in net profit. The signing of a revenue share agreement for a 1,000-acre land plot in New Sphinx City marks a major milestone in our expansion strategy, effectively doubling our undeveloped land bank. With solid revenue growth, robust profitability, and a healthy balance sheet, we remain well-positioned to pursue our strategic priorities and deliver another year of record-breaking achievements”.
