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EIPICO: 1Q23: Healthy Annually, Hindered Sequentially; Adjust FV to EGP35.00

Seasonality and base effect shape revenue performance
Revenue growth and margin expansion counterbalance higher financing expenses
Biosimilar project adds to CF by mid-2024 with 1-1.5ppts blended margin expansion; We adjust our FV to EGP35.00/share

Mariam Wael

Associate @ Al Ahly Pharos Securities Brokerage

25 May 2023

Published byAl Ahly Pharos Securities Brokerage

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EIPICO: 1Q23: Healthy Annually, Hindered Sequentially; Adjust FV to EGP35.00

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EIPICO: 1Q23: Healthy Annually, Hindered Sequentially; Adjust FV to EGP35.00

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