Egyptian Media Production City

A media production co. engaged in producing and distributing drama, television shows, movies and advertising films. The Company owns and operates a public free zone area (media production city) in the Sixth of Oct. City for its media production purposes, which is structured in four main segments, notably 64 television and cinematic production studios distributed across 6 complexes, 15 outdoor shooting areas and locations, tourism and entertainments, and the media academy. Its other activities include media products marketing and distribution, post-production and pre-production services, movie theaters and cinema halls operating and leasing services, and offering tourism services inside the city through constructing and managing hotels, recreation and entertainment facilities. The Co. has resumed plans to establish three new studios during 1H11, for which it had already completed the necessary designs. The studios are scheduled to be completed by the end of 2011 on a total area of 3,000 sqm. It is worth noting that the plan to est. the studios had been put on hold during 1Q11 as a result of the Jan. 25th Revolution, and the consequent expected decline in demand for studio-renting.
Financial Performance:
In 2010, approved selling three land plots (with a total area of 164,390 sqm), and will use proceeds to est. 10 new studios. Currently in the process of selling five pieces of land with a total area reaching to 50,000 square meters at an expected average price of EGP3,100 per sqm. valued at around EGP155mn.Market Cap: EGP810.6M. Revenue of EGP266M for 2010 vs. EGP270M in 2009.