{"id":582156,"date":"2023-03-02T00:00:00","date_gmt":"2023-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/"},"modified":"2023-03-02T00:00:00","modified_gmt":"2023-03-02T00:00:00","slug":"elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/","title":{"rendered":"Elsewedy Electric earnings, revenues rise more than 50% in 2022"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Elsewedy Electric booked EGP 5.4 bn in net income after minority interest in 2022<\/span><span style=\"\">, <\/span><span>up 51% y-o-y, according to it<\/span><span>s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Elsewedy-Electric-ER-FY2022-EN.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span>.<\/span><span style=\"font-weight:400;\"> Revenues, meanwhile, climbed 52% to EGP 92.2 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">On a quarterly basis: <\/span><span style=\"\">Net income surged 79% to EGP 2.3 bn in 4Q 2022, while revenues rose<\/span><span style=\"font-weight:400;\"> 51% to EGP 29.6 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Behind the figures:<\/span><span style=\"\"> The company attributed the growth to \u201chigher operating margins across all <\/span><span style=\"font-weight:400;\">business segments, as well as the increased FX gains that offset rising financing and SG&A expenses.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Wires, cables, and turnkey projects led revenue growth: <\/span><span style=\"\">Almost half the company\u2019s <\/span><span style=\"font-weight:400;\">revenues came from its wires and cables segment, which generated EGP 13.5 bn during the quarter, up 44% y-o-y. Revenues from turnkey projects came in at EGP 12.9 bn during the quarter, up 47% y-o-y and accounting for 44% of the group\u2019s revenues.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The company is back to paying out dividends: <\/span><span style=\"\">The board has proposed paying out dividends <\/span><span>of E<\/span><span>GP <\/span><span>0.40 per share to shareholders, according to an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Elsewedy-Electric-BOD-minutes-1-3-23.pdf\" style=\"\">EGX disclosure (pdf)<\/a><\/span><span style=\"font-weight:400;\">. The company suspended dividend payouts in 2021.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Looking ahead: <\/span><span style=\"\">Elsewedy plans to ramp up its production of EV chargers and pursue new <\/span><span style=\"font-weight:400;\">investments in green projects and renewable energy. \u201cWe are starting 2023 off on a cautious yet positive note as the supply chain continues to improve, primarily driven by China\u2019s efforts to increase production after the removal of covid restrictions to meet the rising global demand, coupled with a slight decrease in shipping costs,\u201d said CEO Ahmed El Sewedy. \u201cAdditionally, capital markets are becoming more aware of the ESG regulations, which will in turn provide new financing streams for investments in green projects and renewable energy.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elsewedy Electric booked EGP 5.4 bn in net income after minority interest in 2022, up 51% y-o-y, according to its earnings release (pdf). Revenues, meanwhile, climbed 52% to EGP 92.2 bn. On a quarterly basis: Net income surged 79% to EGP 2.3 bn in 4Q 2022, while revenues rose 51% to EGP 29.6 bn. Behind [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582157,"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":[7208],"tags":[130,409,152,72,7111],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-construction","tag-earnings-watch","tag-elsewedy-electric","tag-enterpriseam","tag-infrastructure","wpautop","entry"],"acf":{"mongo_id":"e3374ebd-81d8-4723-b072-45ca1a682d92","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/elsewedy-electric-1600px.jpeg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582141],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.7f1cde58-a9d0-45ac-a8b9-db3bc205f7f5.mp3"},"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>Elsewedy Electric earnings, revenues rise more than 50% in 2022 - 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\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elsewedy Electric earnings, revenues rise more than 50% in 2022\" \/>\n<meta property=\"og:description\" content=\"Elsewedy Electric booked EGP 5.4 bn in net income after minority interest in 2022, up 51% y-o-y, according to its earnings release (pdf). Revenues, meanwhile, climbed 52% to EGP 92.2 bn. On a quarterly basis: Net income surged 79% to EGP 2.3 bn in 4Q 2022, while revenues rose 51% to EGP 29.6 bn. Behind [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-02T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/elsewedy-electric-1600px.jpeg?fit=%2C&ssl=1\" \/>\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\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Elsewedy Electric earnings, revenues rise more than 50% in 2022\",\"datePublished\":\"2023-03-02T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/\"},\"wordCount\":270,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/elsewedy-electric-1600px.jpeg?fit=%2C&ssl=1\",\"keywords\":[\"construction\",\"earnings watch\",\"Elsewedy Electric\",\"EnterpriseAM\",\"infrastructure\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/\",\"name\":\"Elsewedy Electric earnings, revenues rise more than 50% in 2022 - 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after tax almost tripled y-o-y during the first half of the year","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1178.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":669657,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/06\/elsewedy-electric-sees-net-income-increase-2-1-in-2q\/","url_meta":{"origin":582156,"position":1},"title":"Elsewedy Electric sees net income increase 2.1% in 2Q","author":"enterpriseam admin","date":"6 August 2025","format":false,"excerpt":"Revenues jumped 12.3% y-o-y during the quarter","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS 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