Elsewedy Electric records profits of LE 1.74B in H1 2021

CAIRO – 17 August 2021: Elsewedy Electric Company’s (SWDY) consolidated results showed a 70.58 percent increase in its profits during the first half of 2021, recording LE 1.74 billion, compared to LE 1.025 billion in the same period of 2020.

The indicators showed that revenues increased to LE 26.01 billion, compared to LE 20.11 billion during 2020 period.

As for standalone results, the company recorded profits of LE 55.97 million during 2021 period, compared to LE 2.15 billion during the six months of 2020.

During the first nine months of 2020, El Sewedy Electric recorded a net profit of LE 769.49 million during the first quarter of 2021, compared to profits of LE 463.69 million during the first quarter of 2020, taking into account minority rights.

Elsewedy Electric operates within the capital goods sector focusing on electrical components and equipment.

It has 37 subsidiaries operating across Northern Africa, Eastern Africa, Middle East and Southern Europe.