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Elsewedy Electric (SWDY) reported a 64.21% year-on-year (YoY) increase in consolidated net profit attributable to the parent company for the first nine months of 2024, according to the company’s financial statement sent to the Egyptian Exchange (EGX) on November 14th.
Consolidated net profit attributable to the parent company amounted to EGP 13.252 billion in the nine-month period, compared to EGP 8.070 billion over the same period of last year.
The company also generated consolidated revenues of EGP 164.822 billion from January through September this year, up from EGP 108.804 billion in the corresponding period a year prior.
The firm’s standalone results showed an 84.1% YoY increase in profits after tax to EGP 973.734 million in the first nine months of the year, compared to EGP 2.29 billion.
Elsewedy Electric is a leading integrated energy solutions provider in Africa and the Middle East. It has a portfolio incorporating all traditional and renewable energy areas along with related services.
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