{"id":558446,"date":"2021-08-10T04:21:09","date_gmt":"2021-08-10T04:21:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/"},"modified":"2021-08-10T04:21:09","modified_gmt":"2021-08-10T04:21:09","slug":"setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/","title":{"rendered":"Setting the record straight on CI Capital and Ezz Steel earnings"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>We goofed in our coverage of earnings reports in yesterday\u2019s EnterprisePM <\/strong>and have corrected the stories on our website.<\/p>\n<p><strong>Mea culpa #1:<\/strong> CI Capital\u2019s net income rose to EGP 974 mn in 2Q, not EGP 974k. Decimals \u2014 they\u2019re hard.<\/p>\n<p><strong>Mea culpa #2:<\/strong> Ezz Steel did not make a loss in the second quarter; it recorded an EGP 1.<sup><\/sup>21 bn profit after being in the red last year, according to its <a href=\"https:\/\/ent.news\/2021\/8\/Consolidated-Interim-In-30-Jun-2021.pdf\">consolidated financials (pdf)<\/a>. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37286b9d-36d1-4b3f-be65-345326f01034\">The story<\/a> has been updated on our website. Subsidiary Al Ezz Dekheila Steel was also in the black in 2Q2021, with the company <a href=\"https:\/\/ent.news\/2021\/8\/Ezz-Dekheila-2Q21.pdf\">reporting (pdf)<\/a> yesterday an EGP 1.04 bn profit during the quarter, compared to an EGP 1.2 bn loss last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We goofed in our coverage of earnings reports in yesterday\u2019s EnterprisePM and have corrected the stories on our website. Mea culpa #1: CI Capital\u2019s net income rose to EGP 974 mn in 2Q, not EGP 974k. Decimals \u2014 they\u2019re hard. Mea culpa #2: Ezz Steel did not make a loss in the second quarter; it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9922],"tags":[3549,72,505,7117,270,954,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558446","post","type-post","status-publish","format-standard","hentry","category-corrections","tag-corrections","tag-enterpriseam","tag-hurghada","tag-red-sea","tag-russia","tag-sharm-el-sheikh","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"1024af97-75f6-4aec-87ed-c03aa1c7ea85","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[558435],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Setting the record straight on CI Capital and Ezz Steel earnings - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Setting the record straight on CI Capital and Ezz Steel earnings\" \/>\n<meta property=\"og:description\" content=\"We goofed in our coverage of earnings reports in yesterday\u2019s EnterprisePM and have corrected the stories on our website. Mea culpa #1: CI Capital\u2019s net income rose to EGP 974 mn in 2Q, not EGP 974k. Decimals \u2014 they\u2019re hard. Mea culpa #2: Ezz Steel did not make a loss in the second quarter; it [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-10T04:21:09+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Setting the record straight on CI Capital and Ezz Steel earnings\",\"datePublished\":\"2021-08-10T04:21:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\"},\"wordCount\":124,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"CORRECTIONS\",\"EnterpriseAM\",\"Hurghada\",\"Red Sea\",\"Russia\",\"Sharm El Sheikh\",\"tourism\"],\"articleSection\":[\"CORRECTIONS\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\",\"name\":\"Setting the record straight on CI Capital and Ezz Steel earnings - 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Mea culpa #1: CI Capital\u2019s net income rose to EGP 974 mn in 2Q, not EGP 974k. Decimals \u2014 they\u2019re hard. 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Revenues grew by 30% to EGP 267 mn\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596779,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/ezz-steel-reports-consolidated-loss-of-egp-1-28-bn-in-1q2019\/","url_meta":{"origin":558446,"position":1},"title":"Ezz Steel reports consolidated loss of EGP 1.28 bn in 1Q2019","author":"enterpriseam admin","date":"8 July 2019","format":false,"excerpt":"EARNINGS WATCH- Ezz Steel has reported a consolidated net loss of EGP 1.28 bn in 1Q2019, compared to a EGP 184 mn profit during the same period the previous year, according to the company\u2019s financial statement (pdf). Top line net sales were effectively unchanged over the year, recording EGP 12.62\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573438,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/05\/earnings-watch-centamin-mining-ezz-steel-juhayna-amer-group-mnhd-erc\/","url_meta":{"origin":558446,"position":2},"title":"Earnings Watch: Centamin Mining, Ezz Steel, Juhayna, Amer Group, MNHD, ERC","author":"enterpriseam admin","date":"5 August 2020","format":false,"excerpt":"EARNINGS WATCH- Centamin Mining pre-tax profits surge on rising gold prices, higher production: Centamin Mining\u2019s pre-tax profits soared by 221% during the first half of the year as the company ramped up production from its Sukari mine and gold prices rose. Pre-tax profits rose to USD 191 mn during the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566970,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/ezz-steel-losses-accelerate-on-extremely-adverse-market-conditions\/","url_meta":{"origin":558446,"position":3},"title":"Ezz Steel losses accelerate on \u201cextremely adverse\u201d market conditions","author":"enterpriseam admin","date":"8 January 2020","format":false,"excerpt":"EARNINGS WATCH- Ezz Steel 2019 losses accelerate in 3Q on \u201cextremely adverse\u201d market conditions: Ezz Steel reported a consolidated net loss of EGP 3.59 bn in the first three quarters of 2019, extending its EGP 2.47 bn loss in the first half of the year by more than EGP 1\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554827,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/15\/earnings-season-still-going-strong-ezz-steel-ode-amoc-prime-holding-rcc-and-b-investments-report-results\/","url_meta":{"origin":558446,"position":4},"title":"Earnings season still going strong: Ezz Steel, ODE, AMOC, Prime Holding, RCC, and B Investments report results","author":"enterpriseam admin","date":"15 November 2021","format":false,"excerpt":"Ezz Steel posted a net income of EGP 1.4 bn in 3Q2021, after seeing a loss of EGP 1.3 bn in the third quarter of last year, according to the company\u2019s consolidated financials (pdf). 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