Farida Salama

Al Ahly Pharos Securities Brokerage

Equity Research Analyst @ Al Ahly Pharos Securities Brokerage

Farida joined Pharos Holding as an Equity Research Analyst in August 2018. She holds a bachelor's degree in Business Administration with a concentration in Finance and minor in Economics from the American University in Cairo. 

Farida Salama
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Latest from Farida Salama

Oriental Weavers: Steady state in 2020

We update our valuation on ORWE and revise our FV to EGP11.75/share (down from EGP14.6/share) with an Equalweight recommendation on an upside of 10.0%.We lower our FV after factoring in the recent slowdown in demand, despite lower polypropylene price...
Al Ahly Pharos Securities Brokerage Farida
Farida Salama @ Al Ahly Pharos Securities Brokerage 20 November 2019

Domty: 3Q19 – Price-driven topline, margins expand; still Overweight

DOMT recorded 3Q19 revenues of EGP720 million, up 11.4% QoQ and 4.2% YoY in line with our expectations (c. GPM reflected on EBITDA margin to record 13.9%, up 2.6pps QoQ and 1.5pps YoY. However, annual EBITDA margin was partially trimmed by 1.7pps YoY...
Al Ahly Pharos Securities Brokerage Farida
Farida Salama @ Al Ahly Pharos Securities Brokerage 12 November 2019

Oriental Weavers: 3Q19 – Exports drag annual topline; margins normalize

3Q19 revenues recorded EGP2,347 million, down 10.9% QoQ and 8.6 % YoY, dragged annually by export revenues and sequentially by local and export revenues. Quarterly, local revenues dropped across all product segments, on lower volumes. Export revenues...
Al Ahly Pharos Securities Brokerage Farida
Farida Salama @ Al Ahly Pharos Securities Brokerage 12 November 2019

Obourland: 3Q19 - Seasonality kicks in; impressive margin jump

OLFI reported 3Q19 revenues of EGP733 million, up 20% QoQ and 15% YoY. Sequential growth is attributed to a 1% price increase in white cheese, implemented in Jul19, and a 20% QoQ increase in volumes sold. However, 9M19 EBITDA margin recorded 17.1% up...
Al Ahly Pharos Securities Brokerage Farida
Farida Salama @ Al Ahly Pharos Securities Brokerage 3 November 2019

Egypt F&B Sector 2020: Value contingent on new ventures

We update the DCF valuation for our F&B coverage after incorporating new products, revising estimates and rolling over our forecast period by one year. Hence, JUFO, DOMT and OLFI are creating new growth opportunities through 1) expanding their portfo...
Al Ahly Pharos Securities Brokerage Farida
Farida Salama @ Al Ahly Pharos Securities Brokerage 21 October 2019
Flash Report / Egypt

Obourland: 2Q19 analyst day highlights

Carton pack holds 80% of the cheese market (the remainder is loose cheese). OLFI signed a contract for 4 new production lines at an investment cost of USD11 million, which will replace 10-11 old production lines to help fight the Chinese packaged pro...
Al Ahly Pharos Securities Brokerage Farida
Farida Salama @ Al Ahly Pharos Securities Brokerage 9 September 2019

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Farida Salama
Egypt
Consumer Discretionary
Africa
MENA
Consumer Durables & Apparel
Middle East
Equity
Arabian Food Industries Company (Domty)
2019
Obourland for Food Industries
Oriental Weavers Carpet Company
Juhayna
1Q19