Egypt Business Network

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Dr. Nilgün Birgören Premium Member Group moderator
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Mena steel giant
Cairo-listed Ezz Steel, the largest independent producer of steel in the Mena region, said yesterday its second-quarter net profit more than tripled to 136 million Egyptian pounds, compared with 37 million in the same quarter last year.

The results reflect a substantial improvement from the comparable period last year.

A strong operational performancehas been achieved in the first half of 2010 with revenue growth of 17 per cent year-on-year, mainly driven by the restart of the EFS flat steel facility and a more positive pricing environment.

Consolidated net sales for the first half of 2010 were 7.5 billion Egyptian pounds, 17 per cent higher than in the same period of 2009, reflecting the restart of production at EFS.

Ezz Steel's production of long steel products is primarily directed to serving the domestic market, while flat steel production is mainly aimed at the global steel market.

Long steel sales volume reached 1,553 thousand tonnes in the first half, a two per cent decrease over the 1,578 thousand tonnes sold during the same period in 2009.

Flat steel sales volumes witnessed an increase from 523 thousand tonnes in the first six months of last year to 644 thousand tonnes, an increase of 23 per cent.

Long steel products accounted for 68 per cent of total sales, accounting for EGP 5,138 million, while flat steel products represented 30 per cent of sales at EGP 2,284 million.

Gross profit of EGP 1,094 million in the first half was an increase of 48 per cent from the EGP 741 million recorded in the same period in 2009.

Earnings before interest, tax, depreciation and amortisation, or EBITDA, for the period reached EGP 1,206 million, up from EGP 845 million for the first half of 2009, an increase of 43 per cent. Net profit after tax and minority interests was EGP 241 million, 151 per cent higher than the EGP 96 million reported for the first half of 2009.
- 31 Aug 2010, 5:07 pm
Dr. Nilgün Birgören wrote: > Cairo-listed Ezz Steel, the largest independent producer of steel in > the Mena region, said yesterday its second-quarter net profit more > than tripled to 136 million Egyptian pounds, compared with 37 million > in the same quarter last year. > > The results reflect a substantial improvement from the comparable > period last year. > > A strong operational performancehas been achieved in the first half > of 2010 with revenue growth of 17 per cent year-on-year, mainly > driven by the restart of the EFS flat steel facility and a more > positive pricing environment. > > Consolidated net sales for the first half of 2010 were 7.5 billion > Egyptian pounds, 17 per cent higher than in the same period of 2009, > reflecting the restart of production at EFS. > > Ezz Steel's production of long steel products is primarily directed > to serving the domestic market, while flat steel production is mainly > aimed at the global steel market. > > Long steel sales volume reached 1,553 thousand tonnes in the first > half, a two per cent decrease over the 1,578 thousand tonnes sold > during the same period in 2009. > > Flat steel sales volumes witnessed an increase from 523 thousand > tonnes in the first six months of last year to 644 thousand tonnes, > an increase of 23 per cent. > > Long steel products accounted for 68 per cent of total sales, > accounting for EGP 5,138 million, while flat steel products > represented 30 per cent of sales at EGP 2,284 million. > > Gross profit of EGP 1,094 million in the first half was an increase > of 48 per cent from the EGP 741 million recorded in the same period > in 2009. > > Earnings before interest, tax, depreciation and amortisation, or > EBITDA, for the period reached EGP 1,206 million, up from EGP 845 > million for the first half of 2009, an increase of 43 per cent. Net > profit after tax and minority interests was EGP 241 million, 151 per > cent higher than the EGP 96 million reported for the first half of > 2009.
Mohaemd Salah
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Re: Mena steel giant
Warm Regards,
Love to serve you
Mohamed salah
Executive Manager for EMG Real - Estate
Tel . : (202) 25176143
Mobile : + 20111000454 / 0125473442
fax . : (202) 25176143
E-mail . : m.s@egyptmaingate.com
Address : 2B st 209 Digla Maadi ,cairo Egypt
Post cod : 11341
http://www.egyptmaingate.com
http://www.egypthomesearch.com
http://www.homesearshs.net
http://www.freehouseonline.com
- 03 Sep 2010, 2:25 pm
Mohaemd Salah wrote: > Warm Regards, > Love to serve you > Mohamed salah > Executive Manager for EMG Real - Estate > Tel . : (202) 25176143 > Mobile : + 20111000454 / 0125473442 > fax . : (202) 25176143 > E-mail . : m.s@egyptmaingate.com > Address : 2B st 209 Digla Maadi ,cairo Egypt > Post cod : 11341 > http://www.egyptmaingate.com > http://www.egypthomesearch.com > http://www.homesearshs.net > http://www.freehouseonline.com
Mohamed Alborno Group moderator Ambassador
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Re^2: Mena steel giant
Dear Mohamed Salah,
I didn't really get your reply, did you have an error while posting your message?
This is the second time you post something like this, this is not an advertising forum, if you want to introduce yourself properly please do in the Introductions Forum.
Best regards.
Mohamed
- 03 Sep 2010, 3:36 pm
Mohamed Alborno wrote: > Dear Mohamed Salah, > I didn't really get your reply, did you have an error while posting > your message? > This is the second time you post something like this, this is not an > advertising forum, if you want to introduce yourself properly please > do in the Introductions Forum. > Best regards. > Mohamed

Egypt Business Network

Mena steel giant

Re: Mena steel giant

Re^2: Mena steel giant