By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
    Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
    March 27, 2023
    European Commission VP visits Egypt to discuss education, mobility, and migration issues
    European Commission VP visits Egypt to discuss education, mobility, and migration issues
    March 27, 2023
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
    Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
    March 27, 2023
    Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
    Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
    March 27, 2023
  • Politics
    PoliticsShow More
    China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
    China’s latest diplomatic move will extend its trade, energy, financial and maritime power
    March 27, 2023
    Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
    As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
    March 27, 2023
    Mass Israel protests after Netanyahu fires defence minister
    Israeli PM calls for calm amid turmoil over government’s judicial overhaul
    March 27, 2023
    Somalia says army kills over 3,000 Al-Shabab militants in 6 months
    Somalia says army kills over 3,000 Al-Shabab militants in 6 months
    March 27, 2023
    Afghan security forces discover IS weaponry in northern province
    Afghan security forces discover IS weaponry in northern province
    March 27, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: MNHD reports EGP 271.5m in gross profit during 1Q 2022, growing 12.4% y-o-y
Share
Notification
Latest News
China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
China’s latest diplomatic move will extend its trade, energy, financial and maritime power
Opinion Politics World
Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
Opinion Politics
Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Stock Market
Mass Israel protests after Netanyahu fires defence minister
Israeli PM calls for calm amid turmoil over government’s judicial overhaul
Politics
European Commission VP visits Egypt to discuss education, mobility, and migration issues
European Commission VP visits Egypt to discuss education, mobility, and migration issues
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Real Estate > MNHD reports EGP 271.5m in gross profit during 1Q 2022, growing 12.4% y-o-y
Real Estate

MNHD reports EGP 271.5m in gross profit during 1Q 2022, growing 12.4% y-o-y

Daily News Egypt
Last updated: 2022/05/22 at 10:42 PM
By Daily News Egypt 2 Min Read
Share
SHARE

Madinet Nasr for Housing and Development (MNHD), one of Egypt’s urban community developers, has announced its standalone financial results for the first quarter (1Q) of 2022, reporting a net profit of EGP 120.2m and total revenues of EGP 818.4m.

MNHD recorded gross contracted sales of EGP 1.55bn for 1Q 2022, up 110.6% y-o-y.

The Company delivered a total of 361 units during 1Q 2022, an increase of 81.4% y-o-y versus the 199 units delivered in 1Q 2021.  Revenues came in at EGP 818.4m for 1Q 2022, up by 82.2% y-o-y, driven by an increase in deliveries and secondarily by strong growth in gross contracted sales. The Company’s gross profit recorded EGP 271.5m in 1Q 2022, growing 12.4% y-o-y. MNHD’s gross profit margin registered 33.2% in 1Q 2022 against 53.8% for 1Q 2021, with the decline reflecting the dominance of unit delivery revenues in MNHD’s total revenue mix for 1Q 2022.

MHHD booked an EBITDA of EGP 211m for 1Q 2022, a rise of 17.2% y-o-y. The EBITDA margin came in at 25.8% for the quarter, down from the margin of 40.1% recorded one year previously. The Company posted a net profit of EGP 120.2m for 1Q 2022, up by 3.7% y-o-y and yielding a net profit margin of 14.7% against the 25.8% booked for 1Q 2021.

Net debt stood at EGP 1,687.5m in 1Q 2022, marking a decrease of 35.9% in the year-to-date (YTD).

Total notes receivable recorded EGP 3,050.7m in March 2022, up by 6.4% YTD and yielding a receivables/net debt ratio of 1.5x for 1Q 2022.

Net cash collections booked EGP 836.3 million in Q1-2022, up by 4.5% y-o-y. MNHD deployed EGP 381.1m in construction and infrastructure CAPEX during the quarter, down from the outlay of EGP 695.7m booked for 1Q 2021 following the completion and delivery of several construction projects.

You Might Also Like

TMG declares EGP 400m in dividends for 2022

Strong presence of Egypt’s real estate developers in MIPIM in Cannes

Raaed Developments launches ROOTS compound in New Sohag with EGP 1.8bn investment

Tatweer Misr signs MoU with Saudi Arabia to facilitate investment opportunities in Kingdom

DNE Awards honours Saudi Egyptian Developers for “Best diversified 50 landmark projects developed within 50 years”

TAGGED: MNHD
Share this Article
Facebook Twitter Email Print
Previous Article Tatweer Misr signs agreement with Schneider Electric to build, manage smart cities
Next Article Developer X obtains ministerial approval for Bianchi Ilios project in North Coast
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
China’s latest diplomatic move will extend its trade, energy, financial and maritime power
Opinion Politics World
Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
Opinion Politics
Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Stock Market
Mass Israel protests after Netanyahu fires defence minister
Israeli PM calls for calm amid turmoil over government’s judicial overhaul
Politics
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?