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Business Sectors
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Elsewedy Electric Reports Consolidated Results for Q1-2012
[30 May 2012]
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Elsewedy Electric posts flat growth in Gross Profit, with 11% decline in EBITDA versus Q1 2011, whilst QoQ witnessed a strong recovery with Gross Profit increasing by 21% and EBITDA increasing 43%. Net Income after Minority stood at EGP 98 million.
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Elsewedy Electric (SWDY.CA on the Egyptian stock exchange) the leading Wire & Cable and Integrated Energy Solution Provider in the Middle East and Africa, announced its consolidated financial results for the first quarter ended March 31st, 2012.
Q1 2012 versus Q1 2011:
•Consolidated Revenues in Q1 2012 decreased by 3% to reach EGP 3.5 billion versus EGP 3.6 billion in Q1 2011, whilst Gross Profit remained flat to reach EGP 442 million in Q1 2012.
•EBITDA in Q1 2012 decreased by 11% to reach EGP 297 million versus EGP 336 million in Q1 2011.
•Net Profit after Minority reached EGP 98 million during Q1 2012 versus EGP 171 million during Q1 2011.
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