Egypt: Al Ezz Dekheila Steel’s profits surpass $203.17mln in 9M-22

The consolidated net profits of Al Ezz Dekheila Steel – Alexandria skyrocketed by 70.27% on an annual basis in the first nine months of 2022.

The steel manufacturer’s profits netted EGP 5.50 billion in 9M-22, compared to EGP 3.23 billion in 9M-21, including minority shareholders’ rights, while basic earnings per share (EPS) rose to EGP 281.36 from EGP 72.56, according to a bourse statement on Thursday.

The company’s sales grew to EGP 54.20 billion during the January-September 2022 period, compared to EGP 43.83 billion in the prior-year period.

As for standalone business, the company’s net profits stood at EGP 4.84 billion during the nine-month period ended 30 September 2022, compared to EGP 2.39 billion in the corresponding period in 2021.

During the first half (H1) of 2022, the company’s consolidated profits surged by 98% on a yearly basis to register EGP 4.08 billion, compared to EGP 2.06 billion, including minority shareholders’ rights.

Meanwhile, the company logged EGP 3.36 billion in standalone net profits in H1-22, compared to EGP 1.59 billion in H1-21.

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