Suez Cement - Valuation Update
​We downgrade our fair value for Suez Cement company from EGP 20.0/share, to EGP 18.1/share; implying a Strong Buy recommendation driven from an upside potential of 103%. This downgrade comes on the back of; 1- Higher risk free rate. 2- Higher costs of sales. 3- Worse than expected deterioration in subsidiaries margins, especially Helwan.
Since its founding in 1992 as a privatization consulting office to the government of Egypt, Prime has successfully reinvented itself as a regional investment bank with a presence in major Arab markets. We provide innovative and outstanding financial services to corporations, institutions, governments, and individuals, using the breadth of our expertise to enable them to reach their objectives.
Over the years, we have refocused our business and our people while extending our geographical reach and strengthening our technological capabilities.
Today, Prime is:
- A competitive leader in the region
- Focused on both clients and products
- Led by pioneers who see change as an opportunity that constructively challenges the status quo
- Driven by a fearless and unconditional commitment to delivery and performance
- Supported by a culture that emphasizes teamwork and a sense of urgency
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