SINAI CEMENT
SCEM
Financial ResultsPositive News
Sinai Cement Slashes Losses, Achieves EGP 4.28B Sales Milestone in 2023
Sinai Cement reports a significant reduction in losses and record sales growth in 2023, signaling potential recovery.
March 31, 2024 at 4:57:00 PMScore: 65
Sinai Cement (SCEM) reported a dramatic drop in consolidated net losses after tax to EGP 121.42 million in 2023, down from EGP 330.41 million in 2022. Annual net sales skyrocketed to EGP 4.28 billion, nearly doubling from EGP 2.34 billion the previous year. The company’s loss per share fell sharply to EGP 0.91 in 2023 compared to EGP 2.48 in 2022. Standalone financials mirrored this recovery, with net losses plunging to EGP 117.58 million from EGP 319.80 million, while standalone sales also surged to EGP 4.28 billion. For the first nine months of 2023, consolidated net losses narrowed to EGP 121.45 million, down from EGP 176.70 million in the same period a year earlier.
Recommended Actions
- Consider holding SCEM stock if already invested to benefit from recovery trends.
- Monitor Q1 2024 results for continued sales growth and profit trajectory.
- Avoid short-term trading; focus on medium-term recovery potential.
- Compare performance against cement industry peers for relative strength.
- Check for management commentary on cost optimization and debt reduction strategies.
Positive Aspects
- 75% reduction in annual net losses
- 91% year-over-year sales growth
- Improved loss per share metric
Negative Aspects
- Ongoing net losses despite improvement
- Dependence on sustained sales growth for profitability
Recent News
January 22, 2024 at 12:37:00 PMGiza Contracting Secures EGP 539 Million Mega-Contract for New Aswan City Development
July 3, 2024 at 10:22:00 AMLink Holdco Trims Fawry Stake Amid Block Trade Surge
March 10, 2024 at 12:07:00 PMRaya Holding Soars to EGP 564M Profit in 2023 Amid Revenue Surge
May 29, 2024 at 10:36:00 AMRaya Holding Soars with 131% Profit Surge in Q1-24 Amid Standalone Losses
GGCC
GIZA GENERAL CONTRACTINGEgyptian construction giant lands major infrastructure deal while navigating revenue challenges in 2023 financials
FWRY
FAWRY FOR BANKING TECHNOLOGY AND ELECTRONIC PAYMENTLink Holdco reduces Fawry stake to 4.99% following a EGP 1.02B block trade; Q1 profit surges 135% YoY.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports a 34% profit surge to EGP 564M in 2023, driven by revenue growth, but standalone losses widen.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports soaring Q1-24 consolidated profits but faces standalone losses as revenues and assets grow.
