Sixth of October for Development and Investment "SODIC" E : Financial Statements 2Q2021

Translation of review report originally issued in Arabic

Sixth of October for Development and Investment Company "SODIC"

(An Egyptian Joint Stock Company)

Consolidated Interim Financial Statements

For the Financial Period Ended June 30, 2021

And Limited Review Report

kpmg Hazem Hassan

Public Accountants & Consultants

Translation of review report originally issued in Arabic

Contents	Page
Limited Review Report	1
Consolidated Interim Statement of Financial Position	2
Consolidated Interim Statement of Profit or Loss	3
Consolidated Interim Statement of Comprehensive Income	4
Consolidated Interim Statement of Changes in Equity	5
Consolidated Interim Statement of Cash Flows	6
Notes to the Consolidated Interim Financial Statements	7-64

Translation of the consolidated financial statements originally issued in Arabic

Sixth of October for Development and Investment Company "SODIC"

(An Egyptian Joint Stock Company)

Consolidated interim statement of financial position as at

EGP	Note	30 June 2021		31 December 2020
	No.
Non-current assets
Property, plant and equipment	(25)		567 577 005	581 410 188
Projects under construction	(26)		142 629 604	134 774 619
Investment properties under development	(27)		2 351 243 213	2 103 226 267
Investments in associates and joint ventures	(28)		-	377 843
Investment properties	(29)		159 798 001	137 928 366
Right of use - Assets	(30-1)		46 403 444	54 496 633
Trade and notes receivable	(20-2)		737 647 610	794 441 952
Deffered tax assets	(15)		87 643 529		64 271 015
Total non-current assets			4 092 942 406	3 870 926 883
Current assets
Inventory	(17)		14 264 166	7 876 394
Completed units ready for sale	(18)		70 219 802	69 642 963
Works in process	)19(		15 448 744 771	14 375 083 694
Trade and notes receivable	)20-1(		1 235 124 957	1 218 170 107
Debtors and other debit balances	)21(		3 077 035 025	2 995 420 876
Financial investments at amortized cost	)23(		647 308 949	674 786 982
Cash and cash equivalents	(24)		1 342 252 600		1 535 698 054
Total current assets			21 834 950 270		20 876 679 070
Total assets			25 927 892 676	24 747 605 953
Equity
Issued & paid in capital	(31-1)		1 424 789 472	1 424 789 472
Legal reserve	)31-2(		224 840 771	223 686 635
Special reserve - share premium	)31-3(		1 430 122 641	1 382 852 956
Retained earnings			2 961 252 103	2 954 919 721
Profit from sale of treasury shares	)32(		1 725 456	1 725 456
Reserve for employee stock option plan	)49(		21 104 173		21 528 566
Equity attributable to equity holders of the Company			6 063 834 616	6 009 502 806
Non-controlling interests	)33(		62 311 648		62 982 621
Total equity			6 126 146 264	6 072 485 427
Non-current liabilities
Loans	(34)		1 651 252 926	1 822 342 750
Creditors and notes payable	(35)		-	13 429 153
New Urban Communities Autority	(36)		5 758 530 690	5 349 923 684
Lease contracts liabilities	(30-2)		39 283 831		46 909 744
Total non-current liabilities			7 449 067 447	7 232 605 331
Current liabilities
Banks facilities			2 948 433	226 619
Loans	(34)		782 289 856	433 651 176
Advances - from customers	(37)		8 491 025 297	7 619 243 097
Contractors, suppliers and notes payable	(38)		541 940 359	652 179 321
Income tax liabilies			99 093 746	294 881 455
New Urban Communities Autority	(36)		229 284 641	262 491 314
Creditors and other credit balances	(39)		1 851 094 028	1 829 169 680
Lease contracts liabilities	(30-2)		11 728 169	14 251 473
Provisions	(40)		343 274 436		336 421 060
Total current liabilities			12 352 678 965		11 442 515 195
Total liabilities			19 801 746 412		18 675 120 526
Total equity and liabilities			25 927 892 676	24 747 605 953

* The accompanying notes form an integral part of these consolidated financial statements and to be read therewith.

Financial Manager	Group Financial	Chief Financial Officer	Managing Director	Chairman
	Controller
Mohamed Samir	Ahmed Hegazi	Omar Elhamawy	Magued Sherif	Ossama Saleh

"Limited review report attached"

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									Translation of the consolidated financial statements
												originally issued in Arabic
Sixth of October for Development and Investment Company "SODIC"
	(An Egyptian Joint Stock Company)
	Consolidated interim statement of profit or loss
			for the financial period
						Adjusted				Adjusted
EGP	Note	from 1/1/2021	from 1/1/2020	from 1/4/2021		from 1/4/2020
	No	to 30/6/2021	to 30/6/2020	to 30/6/2021		to 30/6/2020
Revenues
Sales of real estate	(6)		1 668 608 143			1 084 120 093				925 656 645			640 083 349
Revenues of services of managing cities and resorts			171 165 381			160 314 865				81 097 438			88 551 600
Revenues of investment property			14 956 503			16 211 200				7 516 457			6 487 711
Revenues from clubs and golf course			17 249 957			3 949 501				9 134 403			485 739
Total operation revenues
		1 871 979 984			1 264 595 659			1 023 404 943			735 608 399
Cost of sales
Cost of sales of real estate	(7)		( 1 029 964 884)			( 706 925 776)			(	557 783 090)	(	418 399 552)
Costs of services of managing cities and resorts			(128 934 664)			(122 927 097)			(	61 106 823)	(	68 993 216)
Costs of investment property			(5 742 255)			(4 840 201)				( 3 174 397)			( 2 363 836)
Cost of clubs and golf course			( 55 177 630)			(30 818 961)			( 31 364 406)	( 14 158 724)
Total operation costs
		(1 219 819 433)			( 865 512 035)			( 653 428 716)	( 503 915 328)
Gross profit			652 160 551			399 083 624				369 976 227			231 693 071

Other operating revenues Selling and marketing expenses General and administrative expenses Other operating expenses (Charges) for expected credit losses

Operating profit

Finance income

Finance cost

(8)	47 353 172	30 921 391	23 953 227	16 112 738
(9)	( 156 298 349)	( 117 324 085)	( 94 464 638)	( 68 485 506)
(10)	( 236 414 860)	( 202 048 316)	( 122 466 475)	( 109 479 312)
(11)	( 13 592 941)	( 3 642)	( 13 590 734)	-
(12)	( 1 343 619)	( 2 317 841)	( 744 776)	( 1 983 115)
	291 863 954		108 311 131		162 662 831		67 857 876
(13)	77 742 134	126 413 651	37 260 032	53 079 532
(14)	( 67 341 480)	( 74 325 939)	( 34 124 801)	( 27 717 216)

Net finance income		10 400 654		52 087 712		3 135 231		25 362 316
Net profit before tax		302 264 608	160 398 843	165 798 062	93 220 192
Income tax	(15)	( 76 419 277)	( 85 889 895)	( 42 242 177)	( 49 534 551)
Profit for the period		225 845 331	74 508 948	123 555 885	43 685 641
Attributable to:
Equity holders of the Company		222 595 073	72 124 838	122 127 383	42 118 599
Non-controlling interests	(33)	3 250 258	2 384 110	1 428 502	1 567 042
Net profit for the period		225 845 331		74 508 948		123 555 885		43 685 641
Earnings per share (EGP / Share)	(16)	0.62	0.20	0.34	0.12

* The accompanying notes form an integral part of these consolidated financial statements and to be read therewith.

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Translation of the consolidated financial statements originally issued in Arabic

Sixth of October for Development and Investment Company "SODIC"

(An Egyptian Joint Stock Company)

Consolidated interim statement of comprehensive income

for the financial period

					Adjusted				Adjusted
EGP	Note	from 1/1/2021		from 1/1/2020		from 1/4/2021		from 1/4/2020
	No	to 30/6/2021		to 30/6/2020		to 30/6/2021		to 30/6/2020
Profit of the period			225 845 331		74 508 948		123 555 885		43 685 641
Total other comprehensive income items for the period after			-	-	-	-
income tax
Total comprehensive income of the period			225 845 331	74 508 948	123 555 885	43 685 641
Total comprehensive income is attributable to:
Equity holders of the company			222 595 073	72 124 838	122 127 383	42 118 599
Non-controlling interests	(33)		3 250 258		2 384 110		1 428 502		1 567 042
Total comprehensive income for the period			225 845 331	74 508 948	123 555 885	43 685 641

* The accompanying notes form an integral part of these consolidated financial statements and to be read therewith.

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