Elsewedy Electric records profits of LE 3.02B in 2020

CAIRO – 24 February 2021: Elsewedy Electric Company’s (SWDY) consolidated results showed a 24.8 percent decline in its profits during 2020, recording LE 3.02 billion, compared to LE 4.02 billion in 2019. 

The indicators showed that revenues dropped to LE 46.4 billion, compared to LE 46.62 billion during 2019. 

As for standalone results, the company recorded profits of LE 2.29 billion during 2020, compared to LE 2.41 billion during 2019.

During the first nine months of 2020, El Sewedy Electric achieved profits of LE 1.93 billion, compared to profits of LE 2.78 billion in the same period of 2019, including 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.