{"id":627661,"date":"2018-06-07T04:19:07","date_gmt":"2018-06-07T04:19:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/07\/elsewedy-electric-reports-7-y-o-y-drop-in-net-profit-in-1q2018\/"},"modified":"2018-06-07T04:19:07","modified_gmt":"2018-06-07T04:19:07","slug":"elsewedy-electric-reports-7-y-o-y-drop-in-net-profit-in-1q2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/07\/elsewedy-electric-reports-7-y-o-y-drop-in-net-profit-in-1q2018\/","title":{"rendered":"Elsewedy Electric reports 7% y-o-y drop in net profit in 1Q2018"},"content":{"rendered":"

EARNINGS WATCH- Elsewedy Electric reported a 7% y-o-y drop in net profit after tax and minority interest to EGP 1.4 bn in 1Q2018,<\/strong> down from EGP 1.5 bn in the same period the year before, the company said in its earnings release (pdf)<\/a>. Revenues inched up 2% y-o-y to EGP 9.9 bn, driven largely by the wires and cables segment, which grew by 18% y-o-y. The company is \u201cactively exploring new growth avenues with a particular focus on infrastructure,\u201d and will focus on \u201cscreening and identifying EPC tenders across infrastructure projects such as electricity, water treatment and desalination projects,\u201d says CEO Ahmed El Sewedy.<\/p>\n

Elsewedy looks to get in on the deregulated electricity market:<\/strong> \u201cIn parallel, we are also pushing ahead with our strategy of building recurring revenue streams in the power generation space through the ownership of facilities as an Independent Power Producer (IPP),\u201d El Sewedy added. Under the IPP framework, private companies are allowed to directly sell power to consumers while paying the state a fee to use the national grid for transmission. The Electricity Ministry is currently working on developing<\/a> the pricing scheme for power produced and sold under the framework.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Elsewedy Electric reported a 7% y-o-y drop in net profit after tax and minority interest to EGP 1.4 bn in 1Q2018, down from EGP 1.5 bn in the same period the year before, the company said in its earnings release (pdf). Revenues inched up 2% y-o-y to EGP 9.9 bn, driven largely by […]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627661","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d49325a2-d71a-4c5d-8f46-862be5191507","order":"0","is_powered_by":true,"section_story_id":"4f52e8c0-59a1-4ef6-a9ce-c140cd658478","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627646],"teaser":"","voice_url":""},"yoast_head":"\nElsewedy Electric reports 7% y-o-y drop in net profit in 1Q2018 - 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\/2018\/06\/07\/elsewedy-electric-reports-7-y-o-y-drop-in-net-profit-in-1q2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elsewedy Electric reports 7% y-o-y drop in net profit in 1Q2018\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Elsewedy Electric reported a 7% y-o-y drop in net profit after tax and minority interest to EGP 1.4 bn in 1Q2018, down from EGP 1.5 bn in the same period the year before, the company said in its earnings release (pdf). 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Revenues increased 2.1% to EGP 10.3 bn, which the company says was driven primarily by its\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":573928,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/earnings-watch-elsewedy-electric-dice-egypt\/","url_meta":{"origin":627661,"position":4},"title":"Earnings Watch: ElSewedy Electric, Dice Egypt","author":"enterpriseam admin","date":"24 August 2020","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric reports 2Q2020 net profits falling 44.8% y-o-y: Elsewedy Electric reported a 44.8% y-o-y decline in net profits to EGP 514.17 mn in 2Q2020, largely as a result of covid-induced disruptions in the broader economy that has slowed operations, the company said yesterday in an earnings release\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":598175,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/earnings-watch-adib-acc-b-investments-raya-naeem-hhd-eastern-obourland-eipico\/","url_meta":{"origin":627661,"position":5},"title":"Earnings watch: ADIB, ACC, B Investments, Raya, Naeem, HHD, Eastern, Obourland, EIPICO","author":"enterpriseam admin","date":"16 May 2019","format":false,"excerpt":"EARNINGS WATCH- B Investments posted a net profit of EGP 35.48 mn in 1Q2019, up 5.5% y-o-y from EGP 33.53 mn in the comparable quarter last year, the company said (pdf). 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