Pre-Trading Thoughts

Egypt, the UAE, Jordan, and Bahrain signed agreements to establish nine joint industrial projects at an investment cost of USD 2 bn. AUTO consolidated attributable net income in 4Q22 amounted to EGP8,714 mn compared to EGP413 mn in 4Q2. FY22 bottom-line recorded EGP9,985 mn compared to EGP1,408 mn recorded in FY21. The sharp incline was backed by the MNT-Halan divestment (EGP8.2 billion). We have upgraded our FV for AUTO earlier to EGP7.56/share with GB Capital 78.8% of our FV. AUTO is ...