ArabFinance: Al Ezz Dekheila Steel - Alexandria (EZDK) reported a 77% Year on Year increase in its consolidated net loss in Quarter one (Q1) of 2020, according to the company’s August 4th financial statements filed to the Egyptian Exchange.

Consolidated net loss stood at EGP 1,083,479,877 in Q1 of 2020, compared to EGP 611,028,465 incurred in Q1 2019.

Standalone net loss reached EGP 287,914,139 in Q1 of 2020, a 172% decline from EGP 105,734,805 posted in Q1 of 2019. 

In February, the Financial Regulatory Authority approved inviting the company's shareholders to subscribe to the capital increase shares.

EZDK 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.