Egypt: Electro Cable Egypt’s sales exceed $213.6mln in 9M-24; net profits leap

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Electro Cable Egypt posted net profits valued at EGP 1.30 billion in the first nine months (9M) of 2024, compared to EGP 955.41 million in 9M-23.

Total consolidated sales hit EGP 10.68 billion as of 30 September 2024, up year-on-year (YoY) from EGP 5.89 billion, according to the financial results.

Earnings per share (EPS) amounted to EGP 0.39 in 9M-24, an annual surge from EGP 0.29.

Standalone Business

The EGX-listed firm achieved net profits worth EGP 435.65 million in the January-September 2024 period, marking a rise from EGP 210.81 million in 9M-23.

Non-consolidated revenues hiked to EGP 6.11 billion in 9M-24 from EGP 3.26 billion during the same period in 2023, while the EPS increased to EGP 0.10 from EGP 0.05.

Financials for Q3-24

During the third quarter (Q3) of 2024, Electro Cable Egypt generated EGP 300.68 million in net profit, lower than EGP 416.22 million a year earlier.

The sales jumped to EGP 4.04 billion in Q3-24 from EGP 2.32 billion in Q3-23, while the EPS dropped to EGP 0.09 from EGP 0.13.

As of 30 June 2024, the company logged consolidated net profits worth EGP 1 billion, compared to EGP 539.18 million in the first half (H1) of 2023.