Egypt: Madinet Masr logs $230mln in Q1 2025 contracted sales
Arab Finance: Madinet Masr reported contracted sales of EGP 11.5 billion during the first quarter (Q1) of 2025, down 22.9% year on year (YoY), as per an emailed press release.
The company delivered 1,013 units in Q1 2025, a sharp increase from 140 units in the same period last year, marking an annual growth of 623.6%.
Revenue declined by 16.7% YoY to EGP 2.6 billion, driven by a 23.4% drop in new sales revenue.
Gross profit fell by 30.9% to EGP 1.7 billion due to lower revenue and higher operating costs, with the gross profit margin narrowing to 65.2% from 78.6% a year earlier.
EBITDA dropped by 33.5% YoY to EGP 1.0 billion, with an EBITDA margin of 40.7%.
Net profit also decreased by 32.6% to EGP 794.9 million, while the net profit margin remained stable at 31.0%.
Net borrowings declined by 19.2% to EGP 675.3 million as of March 31, 2025, compared to EGP 835.6 million at the end of 2024.
Cash collections rose slightly by 1.7% YoY to EGP 3.4 billion, reflecting improved collection efficiency.
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