Cairo – Mubasher: The consolidated net profits attributable to the owners of Elsewedy Electric Company hit EGP 8.07 billion in the first nine months (9M) of 2023, versus EGP 3.09 billion in 9M-22.
Revenues enlarged to EGP 108.80 billion in 9M-23 from EGP 62.57 billion in 9M-22, according to the consolidated financial statements.
The basic earnings per share (EPS) stood at EGP 3.40 in January-September 2023, up year-on-year (YoY) from EGP 1.29.
Total assets amounted to EGP 141.71 billion in 9M-23, versus EGP 113.95 billion as of 31 December 2022.
Standalone Business
Elsewedy Electric achieved EGP 2.29 billion in standalone net profits after tax during 9M-23, compared to EGP 1.24 billion in the year-ago period.
The total non-consolidated revenues widened to EGP 7.43 billion as of 30 September 2023 from EGP 4.67 billion in 9M-22, while the basic EPS jumped to EGP 1.10 from EGP 0.58.
Financials for Q3-23
During the third quarter (Q3) of 2023, the EGX-listed firm witnessed YoY higher consolidated net profits attributable to the shareholder at EGP 2.50 billion, compared to EGP 1.20 billion.
The revenues hiked to EGP 39.16 billion in Q3-23 from EGP 23.60 billion in Q3-22, while the profit per share increased to EGP 1.05 from EGP 0.50.
Non-consolidated net profits after tax soared to EGP 1.11 billion in July-September 2023 from EGP 79.98 million in Q3-22, while the basic EPS climbed to EGP 0.52 from EGP 0.04. Meanwhile, the revenues grew to EGP 2.50 billion from EGP 2.16 billion.
In the first half (H1) of 2023, the company posted consolidated net profits attributable to the shareholders valued at EGP 5.56 billion, while the standalone profits after tax reached EGP 1.43 billion.
