{"id":582247,"date":"2023-03-05T00:00:00","date_gmt":"2023-03-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/phd-macro-group-report-strong-2022-results\/"},"modified":"2023-03-05T00:00:00","modified_gmt":"2023-03-05T00:00:00","slug":"phd-macro-group-report-strong-2022-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/phd-macro-group-report-strong-2022-results\/","title":{"rendered":"PHD, Macro Group report strong 2022 results"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> We\u2019re pushing deeper into 2022 earnings season this morning, with <\/span><span>Palm Hills Developments reporting record high net income, revenues, sales in 2022 and Macro turning in double-digit top- and bottom-line growth despite the challenges of the past 12 months. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">PALM HILLS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Palm Hills Developments booked record-high net income after tax and min<\/span><span style=\"font-weight:700\">ority <\/span><span style=\"font-weight:700\">interest of EGP 1.<\/span><span style=\"font-weight:700\">2<\/span><span style=\"font-weight:700\">6 bn in 2022<\/span><span style=\"\">,<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">up by 52% y-o-y, the developer said in its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/PHD-02-03-2023.pdf\" style=\"\">earnings release (<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/PHD-02-03-2023.pdf\" style=\"\">pdf<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/PHD-02-03-2023.pdf\" style=\"\">)<\/a><\/span><span style=\"\">.<\/span><span style=\"font-weight:400;\"> Revenues climbed 76% y-o-y to more than EGP 13.6 bn, another all-time high. New sales were up by half to a record EGP 26.0 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Selling more units at higher prices:<\/span><span style=\"font-weight:400;\"> The EGX-listed company sold 20% more units in 2022 than the year before, with all projects seeing a rise in average sale prices. Almost 90% of new sales were accounted for by residential properties, which were up 51% y-o-y, while commercial sales rose 44%. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The focus remains on Badya and Palm Hills New Cairo: <\/span><span style=\"font-weight:400;\">The company is continuing to focus on growing its two largest residential compounds, according to the release. It surpassed its overall construction spend target for the year by EGP 300 mn to hit EGP 3.7 bn, up 47% y-o-y. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said: <\/span><span style=\"font-weight:400;\">\u201cWe have delivered record set of results, exceeding pre-COVID 19 performance levels and beating our targets and guidance for 2022 on almost all fronts,\u201d said executive chairman Yasseen Mansour, adding that strong construction spending in 2022 and EGP 3.9 bn worth of ready-to-move inventory on the books as of year-end \u201cwill continue to boost our financial position in future periods.\u201d The company is also focused on building out its portfolio of commercial developments at Palmet, Badya and Palm Hills, he said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MACRO GROUP-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Pharma and cosmeceuticals firm Macro Group saw its net income rise 18% y-o<\/span><span style=\"font-weight:700\">-y <\/span><span style=\"font-weight:700\">to EGP 173.9 mn in 2022<\/span><span style=\"\">, according to the company\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/MACRO-FY22-Earnings-Release.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span style=\"font-weight:400;\">. Revenues grew 23% y-o-y to record EGP 729.6 mn. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The breakdown:<\/span><span style=\"\"> The company attributed the rise in revenues to a 26% y-o-y uptick in average pricing. Total sales volumes fell 3% y-o-y to 18 mn units, as market headwinds and inflationary pressures limited consumers\u2019 purchasing power. The company introduced 30 new products last year \u2013 a third of them in 4Q alone \u2014 and plans to introduce another 35 new products in the near to medium term, it said. <\/span><span style=\"\">Macro made its debut on the EGX in the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/02\/08\/tonight-macros-egx-debut-confirmed-for-this-thursday-world-bank-is-releasing-its-egypt-outlook-its-a-busy-day-at-the-house-64495\/\" style=\"\">first quarter<\/a><\/span><span style=\"\"> of last year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Macro turned to exports to hedge against headwinds<\/span><span style=\"font-weight:700\">:<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">Export sales more than quadrupled to hit EGP 30.5 mn in 2022 after Macro hired an export manager to increase its footprint across the Middle East and Africa. The move \u201cincreased [Macro Group\u2019s] access to hard currency, cushioning foreign exchange fluctuations and making it easier in acquiring the necessary imported raw materials for premium products,\u201d company chair Ahmed Elnayeb said in the release.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We\u2019re pushing deeper into 2022 earnings season this morning, with Palm Hills Developments reporting record high net income, revenues, sales in 2022 and Macro turning in double-digit top- and bottom-line growth despite the challenges of the past 12 months. PALM HILLS- Palm Hills Developments booked record-high net income after tax and minority interest of EGP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[409,72,7115,77,354,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582247","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam","tag-healthcare","tag-macro-group","tag-palm-hills-developments","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"7863396a-5e5d-4bac-b407-990250957372","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582233],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.2dadbf63-382d-4d9e-9b7e-7ccc3ff8b3e8.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PHD, Macro Group report strong 2022 results - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/phd-macro-group-report-strong-2022-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PHD, Macro Group report strong 2022 results\" \/>\n<meta property=\"og:description\" content=\"We\u2019re pushing deeper into 2022 earnings season this morning, with Palm Hills Developments reporting record high net income, revenues, sales in 2022 and Macro turning in double-digit top- and bottom-line growth despite the challenges of the past 12 months. 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The record bottom line comes on the back of revenues reaching an all-time high during the nine-month period to EGP 9.5 bn,\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546901,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/earnings-watch-e-finance-palm-hills\/","url_meta":{"origin":582247,"position":1},"title":"Earnings Watch: E-Finance, Palm Hills","author":"enterpriseam admin","date":"1 June 2022","format":false,"excerpt":"E-Finance\u2019s net income soared 41% y-o-y in 1Q2022 to EGP 200.3 mn, according to the company\u2019s earnings release (pdf). Revenues at the EGX-listed fintech firm rose 21% during the quarter to record EGP 559.5 mn.The breakdown: Topline growth was driven by e-Finance\u2019s digital operations subsidiary, where revenues grew 23% to\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546945,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/02\/palm-hills-net-income-rises-44-in-1q-2022\/","url_meta":{"origin":582247,"position":2},"title":"Palm Hills\u2019 net income rises 44% in 1Q 2022","author":"enterpriseam admin","date":"2 June 2022","format":false,"excerpt":"Palm Hills Developments\u2019 (PHD) bottom line surged 44% y-o-y in 1Q 2022, driven by a strong increase in sales, the real estate developer said in its latest earnings release (pdf). The company reported net income of EGP 295 mn, supported by a 47% increase in revenues which reached EGP 2.9\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544529,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/08\/housing-and-development-bank-palm-hills-report-rise-in-net-income\/","url_meta":{"origin":582247,"position":3},"title":"Housing and Development Bank, Palm Hills report rise in net income","author":"enterpriseam admin","date":"8 March 2022","format":false,"excerpt":"Housing and Development Bank\u2019s (HDB) net income rose 5% in 4Q 2021 to EGP 396 mn, according to the bank\u2019s latest earnings release (pdf). The bank reported net interest income of EGP 818 mn during the quarter, down almost 1% from 4Q 2020.In 2021: HDB reported EGP 1.8 bn in\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543757,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/16\/palm-hills-says-in-a-flash-note-its-turned-in-its-best-ever-sales-performance-eastern-company-reports-2q2021-2022-results\/","url_meta":{"origin":582247,"position":4},"title":"Palm Hills says in a flash note it\u2019s turned in its best-ever sales performance + Eastern Company reports 2Q2021-2022 results","author":"enterpriseam admin","date":"16 February 2022","format":false,"excerpt":"Palm Hills Developments saw sales rise 35% y-o-y last year to EGP 17.3 bn \u2014 marking the company\u2019s highest ever new sales figure and surpassing its EGP 15 bn target, according to a statement (pdf). Sales were driven by an 82% y-o-y increase in the number of units sold, as\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594735,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/05\/earnings-watch-palm-hills-net-profit-up-3-despite-25-drop-in-revenues\/","url_meta":{"origin":582247,"position":5},"title":"Earnings watch: Palm Hills\u2019 net profit up 3% despite 25% drop in revenues","author":"enterpriseam admin","date":"5 September 2019","format":false,"excerpt":"EARNINGS WATCH- Palm Hills Development\u2019s (PHD) net profit rose 3% to EGP 451.47 mn in 1H2019, from EGP 439.9 mn during the same period last year, according to the company\u2019s earnings release (pdf). The increase in net profit came despite revenues for the period falling 25% to EGP 2.5 bn\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/582247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=582247"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/582247\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/582233"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=582247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=582247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=582247"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=582247"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=582247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}