Eastern Tobacco

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Local sales continue to shine despite weakening purchasing power. Higher sales along with one-off gains trickle down to record breaking profitability levels. Positive future outlook supports our FV Upgrade.

FY22/23 Updates. United Tobacco Company. Cost Saving Initiatives, Investment Income and Different Markets Exposure Supports FV Upgrade.

Local revenues continue the rise; Toll sales dive by Phillip Morris phasing out and declining demand for e-options. Early retirement program to linger for one more year, affecting margins and bottom-line. Supported by local sales; UTC to give an extr...

Toll manufacturing sales recorded EGP1,584 mn, a YoY drop of 9.6%. Despite the steep decline in EBIT, interest income was able to cushion the blow on bottom line, recording EGP121 mn in 3Q21/22, compared to EGP15 mn in 2Q21/22, and EGP36 mn in 3Q20/2...

East recorded EGP4,222 mn in 2Q21/22, below that of 1Q21/22 of EGP4,311 mn by 2.1% QoQ, however was able to surpass 2Q20/21 revenues of EGP4,211 mn by a minor 0.3% incline YoY. Sales for 1H21/22 reached EGP8,533 mn, compared to EGP8,166 mn recorded i...

The company is targeting volumes for its local brand at 70-72 bn stick for FY21/22, after recording 67 bn stick in FY20/21, bringing sales volumes growth to 5-8% YoY. Toll manufacturing volumes did not live up to the management expectations during 2Q...