SODIC posts 143.6% YoY increase in Q1 2025 consolidated profits

Updated 4/29/2025 7:47:00 AM

Arab Finance: Sixth of October Development and Investment Company (SODIC) recorded an annual leap of 143.68% in consolidated net profit attributable to the equity holders of the parent company during the first quarter (Q1) of 2025, as per the financial results.

Accordingly, SODIC registered consolidated net profits of EGP 950.668 million in Q1 2025, compared to EGP 390.116 million a year earlier.

Basic and diluted earnings per share (EPS) increased to EGP 2.67 as of March 31^st, 2025, from EGP 1.10 in Q1 2024, while total operating revenues hiked by 50% to EGP 2.758 billion from EGP 1.839 billion.

Regarding the standalone business, net profits after tax jumped to EGP 516.399 million in the first three months of 2025, compared to EGP 48.083 million during the same period in 2024.

Non-consolidated basic and diluted EPS rose to EGP 1.45 from EGP 0.13, whereas total operating revenues soared to EGP 1.431 billion from EGP 432.364 million.

SODIC delivered 148 units in Q1 2025, compared to 236 units delivered during the same quarter of 2024, according to an emailed press release.

A total of 95 units were part of East Cairo projects, while West Cairo accounted for 53 of the delivered units.

The total backlog of unrecognized revenue stood at EGP 87.4 billion as of March 31^st, 2025, providing strong revenue visibility for the company.

Ayman Amer, SODIC’s General Manager, commented: “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."