Elsewedy Electric Reports Consolidated Results for 9M 2014, ended September 30th, 2014.

El Sewedy Electric Posts Q3 2014 Net Profit after Minority of EGP 95 million, on Total Group Revenues of EGP 4.3 Billion. On a Normalized Basis, Q3 2014 Net Profit reached EGP 220 Million.

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 9M 2014 ended September 30th, 2014.

Q3 2014 versus Q3 2013:
• Consolidated revenues in Q3 2014 increased by 21% to reach EGP 4.3 billion versus EGP 3.5 billion in Q3 2013.

• Gross profit in Q3 2014 increased by 55% to reach 687 million versus EGP 443 million in Q3 2013.

• EBITDA in Q3 2014 increased by 4% to reach EGP 393 million versus EGP 379 million in Q3 2013 as a result of impairment of EGP 124 million related to MTOI, the Spanish wind turbines factory. Normalized Q3 2014 EBITDA stands at EGP 518 million.

• Net profit after Minority reached EGP 95 million during Q3 2014 versus EGP 46 million during Q3 2013. Normalized net profit after minority stands at EGP 220 million.

9M 2014 versus 9M 2013:
• Consolidated revenues increased by 14% to reach EGP 12.8 billion for 9M 2014, versus EGP 11.2 billion in 9M 2013.

• Gross profit increased by 18% to reach EGP 1.985 million during 9M 2014, versus EGP 1.677 million in 9M 2013.

• EBITDA decreased by 6% to reach EGP 1.021 million in 9M 2014, versus EGP 1.080 million in 9M 2013.

• Net profit after Minority Interest increased by 63% reached EGP 310 million in 9M 2014 versus EGP 190 million for 9M 2013. Normalized net profit after minority stands at EGP 678 million.

source: You are not allowed to view links. Register or Login