Al Ezz Dekheila Steel logs EGP 2.4B losses in Q1
Updated 7/9/2023 10:13:00 AM
Arab Finance: Al Ezz Dekheila Steel Co – Alexanderia’s (EZDK) consolidated net losses after tax amounted to EGP 2.351 billion in the first quarter (Q1) of the current year, versus net profits of EGP 1.190 billion in Q1 of last year, the company stated on July 9th.
Consolidated revenues grew 46% year on year (YoY) to EGP 25.037 billion in the first three months of the year, compared to EGP 17.161 billion.
In terms of standalone business, the firm endured EGP 497 million in net losses after tax in the January-March period this year, versus net profits of EGP 1.088 billion in the corresponding period last year.
Standalone revenues rose 50.4% YoY in Q1 2023, recording EGP 20.559 billion, compared to EGP 13.671 billion.
El Ezz Dekheila Steel is an Egypt-based engaged in the manufacture and production of steel in different types and forms.
The company’s direct subsidiaries include Al Ezz Steel Sheet Manufacturing Company, Steel Company for Industry, and Trade and Contracting Company, which is focused on the manufacture and trade in all types of metal and metal products.
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