Ezz Steel's exports hit $269mln in Q1

The total exports of Ezz Steel jumped by 47% year-on-year

  
Workers pose in front of a factory belonging to Ezz Steel, Egypt's largest steel producer, at an industrial complex in Sadat City, 94 km (58 miles) north of Cairo, April 17, 2013.

Workers pose in front of a factory belonging to Ezz Steel, Egypt's largest steel producer, at an industrial complex in Sadat City, 94 km (58 miles) north of Cairo, April 17, 2013.

REUTERS/Amr Abdallah Dalsh
The company has achieved EGP 1.187 billion net profits
Ezz Steel
ESRS
3.57%12.170.42

Cairo – Mubasher: The total exports of Ezz Steel jumped by 47% year-on-year (YoY) to $269 million during the first quarter (Q1) of 2021, compared to $183 million.

These exports comprise $208 million in flat steel and $61 million in coiled rebar, according to a bourse filing on Thursday.

Meanwhile, the company has achieved EGP 1.187 billion net profits during the first three months of 2021, against net losses of EGP 1.35 billion in the year-ago period.

The company's sales jumped to EGP 13.49 billion in Q1-21 from EGP 10.78 billion in Q1-20.

As for the standalone results, the company recorded EGP 74.183 million net profits in the January-March period of 2021, versus net losses of EGP 266.883 million in the corresponding period of 2020.

Source: Mubasher

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