Emaar Misr records one of Egypt’s highest real estate sales figures in 2020
Company’s net profit in Q4 of 2020 reaches EGP 656.5m
Alyaa Stohy March 8, 2021 Comments Off

he real estate developer Emaar Misr has announced recording one of the highest sales figures among the private developers in Egypt during 2020.
The data was released as part of its financial results for the fourth quarter (Q4) of 2020, which depicted strong performance with new sales, in local currency terms, recording as one of the highest in the country. 
Emaar Misr managed to achieve record sales of EGP 7.2bn during Q4 of 2020, with total sales in 2020 hitting EGP 18bn, a rise of 14.6% year-on-year (y-o-y), and even exceeded the sales achieved by Talaat Moustafa Group (TMG) of EGP 16.6bn.
New sales consisted mainly of units in Cairo Gate, Marassi and Mivida. Top-line for the quarter amounted to EGP 2.40bn, down 2.79% y-o-y but up 89.5% quarter-on-quarter (q-o-q). 
Gross margin stood at 38.7%, versus 39.2% in Q4 of 2019 and 36.4% in Q3 of 2020. Bottom-line amounted to EGP 656m, down 40.9% y-o-y and up 49.1% q-o-q. 
Emaar Misr’s net cash balance in the balance sheet stands at EGP 10.5bn, almost equivalent to the stock’s total market capitalisation. This reflects a significantly undervalued story, given minimal access to management and disclosures to institutions and analysts.
Net profit in Q4 of 2020 reached EGP 656.5m, down 40.9% y-o-y  and up 49.1% q-o-q, translating into an NPM of 27.3%.
Receivables, including off-balance sheet receivables, reached EGP 25.2bn at the end of Q4 of 2020. Net cash decreased from EGP 11.0bn at the end of Q3 of 2020 to EGP 10.8bn at the end of Q4 of 2020.    
Topics: Emaar Misr Real Estate
Alyaa Stohy
Emaar Misr achieves over EGP 1.3bn in profits during H1 2021
40 real estate developers take part in The National Expo 2021
ACUD offers new facilities to attract developers to NAC
Emaar Misr launches 2nd phase of Cairo Gate project in Sheikh Zayed
High EGX trading expected this week after awaited factory energy price cut
Tahya Misr Fund, Emaar Misr sign protocol to develop Sidi Abdel Rahman

Featured Video
Video| Egypt’s President Al-Sisi weighs in on freedom of expression, Islamic extremism
Editorial Pick
President Al-Sisi lifts state of emergency in Egypt for first time in years
EU follows GERD negotiations closely, believes agreement needed: Ambassador
Egypt’s Sharm El-Sheikh to host UN climate summit COP27 in 2022
Opinion | Why is Egypt postponing the war against Ethiopia?
Latest News
Forever Is Now: International artists present harmonious artworks at Giza Pyramids
Ending state of emergency indicates Egyptian’s market political, economic stability: Communications experts
Lifting state of emergency to help Egypt attract new foreign investment: Investment bankers
Opinion | Egypt and the International Monetary Fund
Opinion| Pope Francis’ Courage and the Unforgivable Sins of Clergymen
Opinion | Ethiopia crises
Opinion| Can the United States ban Facebook?
Receive our daily newsletter