Ezz Steel turns to profitability in 2021
Updated 3/3/2022 10:06:57 AM
ArabFinance: Ezz Steel (ESRS) has turned to profitability in the full-year ended December 31st 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX).
The company has achieved a consolidated net profit attributable to the parent company of EGP 3.52 billion in 2021, versus a net loss of EGP 4.68 billion in 2020.
Consolidated net sales amounted to EGP 67.81 billion last year, surging from EGP 38.62 billion in 2020.
Meanwhile, the company’s standalone net profit after tax stood at EGP 288.15 million in 2021, versus a net loss of EGP 563.67 million a year earlier.
Ezz Steel is an Egypt-based manufacturer and trader of steel and related products. Together with its subsidiaries, the company is engaged in the manufacture, trade, and distribution of iron and steel products of all kinds and associated services.
