{"id":623644,"date":"2024-06-09T00:00:00","date_gmt":"2024-06-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/float-higher-revenues-push-up-elsewedy-electrics-bottomline\/"},"modified":"2024-06-09T00:00:00","modified_gmt":"2024-06-09T00:00:00","slug":"float-higher-revenues-push-up-elsewedy-electrics-bottomline","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/float-higher-revenues-push-up-elsewedy-electrics-bottomline\/","title":{"rendered":"Float, higher revenues push up Elsewedy Electric\u2019s bottomline"},"content":{"rendered":"

Elsewedy Electric \u201cmaintained its growth trajectory:\u201d <\/strong>Elsewedy Electric saw its net income after minority interest rise 37% y-o-y in 1Q 2024 to EGP 4.0 bn \u201cdue to increased revenue and a foreign exchange gain from the revaluation of foreign currency receivables from international operations,\u201d according to the company\u2019s latest earnings release (pdf)<\/a>. Revenues rose 35.7% y-o-y to EGP 45.3 bn during the quarter.<\/p>\n

Driving the growth: <\/strong>The company pointed to the float of the EGP and higher pricing in EGP on some of its products for pushing its top line up. The wires and cables segment was the main driver of revenues, growing 56.5% y-o-y to during the quarter to EGP 27.9 bn, followed by its turnkey projects, which grew 7.2% y-o-y to hit EGP 12.4 bn.<\/p>\n

Looking ahead:<\/strong> \u201cGoing forward, our ability to continue delivering growth and value to shareholders is underlined by our commitment to sustainability and innovation, which ensures that we are not just keeping pace with industry advancements but are also at the forefront of shaping the future landscape of integrated, infrastructure solutions,\u201d CEO Ahmed El Sewedy wrote. <\/p>\n","protected":false},"excerpt":{"rendered":"

Revenues rose 35.7% y-o-y to EGP 45.3 bn during the quarter<\/p>\n","protected":false},"author":1,"featured_media":623645,"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":[409,152,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-623644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-elsewedy-electric","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"c9919539-e344-4054-917b-78ce3cda33c6","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/685.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The EGP float, higher revenues push up EGX-listed Elsewedy Electric\u2019s bottomline","related_issue":[623634],"teaser":"Revenues rose 35.7% y-o-y to EGP 45.3 bn during the quarter","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.d5255d9c-38ea-4f0b-9701-c94123ba3a75.mp3"},"yoast_head":"\nFloat, higher revenues push up Elsewedy Electric\u2019s bottomline - 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Revenues rose almost 50% to EGP 20.4 bn during the April-June quarter, driving a 27% increase in net income, which reached EGP 1.1 bnWire and cables\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576575,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/30\/elsewedy-electric-np-fall-1-4-in-3q2020\/","url_meta":{"origin":623644,"position":1},"title":"Elsewedy Electric NP fall 1.4% in 3Q2020","author":"enterpriseam admin","date":"30 November 2020","format":false,"excerpt":"Elsewedy Electric reported a 1.4% y-o-y dip in 3Q2020 NP to EGP 817 mn from EGP 829 mn the year before, according to a company earnings release (pdf). Revenues during the three-month period fell 12.6% to EGP 11.3 bn from EGP 12.9 bn last year. On a nine-month basis, Elsewedy\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/318.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582156,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/elsewedy-electric-earnings-revenues-rise-more-than-50-in-2022\/","url_meta":{"origin":623644,"position":2},"title":"Elsewedy Electric earnings, revenues rise more than 50% in 2022","author":"enterpriseam admin","date":"2 March 2023","format":false,"excerpt":"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\u2026","rel":"","context":"In "EARNINGS WATCH"","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\/3\/elsewedy-electric-1600px.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598595,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/29\/earnings-watch-elsewedy-electric-net-profits-fall-32-in-1q2019\/","url_meta":{"origin":623644,"position":3},"title":"Earnings watch: Elsewedy Electric net profits fall 32% in 1Q2019","author":"enterpriseam admin","date":"29 May 2019","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric reported a 32% y-o-y drop in net profit to EGP 957.2 mn in 1Q2019, down from EGP 1.4 bn in 1Q2018, the company said in its earnings release (pdf). Revenues for the quarter grew 12% y-o-y to EGP 11.2 bn from EGP 9.9 bn in 2018.\u2026","rel":"","context":"In "Speed Round"","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":639937,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/18\/ci-capital-e-finance-gb-corp-elsewedy-electric-report-earnings\/","url_meta":{"origin":623644,"position":4},"title":"CI Capital, E-finance, GB Corp, Elsewedy Electric report earnings","author":"enterpriseam admin","date":"18 August 2024","format":false,"excerpt":"CI Capital saw its net income more than double during the first half of the year","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1482.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":609742,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/09\/elsewedy-electric-bottom-line-doubles\/","url_meta":{"origin":623644,"position":5},"title":"Elsewedy Electric bottom line doubles","author":"enterpriseam admin","date":"9 November 2023","format":false,"excerpt":"The company also clocked a 66% y-o-y jump in revenues in 3Q 2023","rel":"","context":"In "EARNINGS WATCH"","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\/11\/415.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/623644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=623644"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/623644\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/623634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/623645"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=623644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=623644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=623644"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=623644"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=623644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}