Elsewedy Electric (SWDY) reported a 72.65% year-on-year (YoY) increase in consolidated net profits attributable to the parent company in 2024 to EGP 17.464 billion, compared to EGP 10.116 billion.

The Holding Company for Maritime and Land Transport (HCMLT) and Elsewedy Electric have signed a memorandum of understanding (MoU) to establish, manage, operate, and develop an integrated logistics industrial zone in Damietta Port.

An Elsewedy Electric subsidiary has signed an engineering, procurement, and construction (EPC) contract for Hungary’s largest combined cycle power plant.

Engineering for the Petroleum and Process Industries (Enppi) signed a strategic partnership agreement with Elsewedy Electric Group

Elsewedy Electric is expected to start supplying building materials to the Ras El-Hikma project on Egypt’s North Coast within two months.

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir has inaugurated the El Sewedy Telecom Cables factory

The consortium of an engineering and construction company of Elsewedy Electric has been awarded a significant contract for a 500-650 megawatt (MW) combined cycle power plant project in Hungary by the Hungarian Electricity Co. (MVM).

Elsewedy Electric has reached a financial close on a 50MW/100MWh battery energy storage system (BESS) project in Greece through its subsidiary, Energy Bank I S.A.

Electra Investment Holding RSC LTD increased its equity ownership in Elsewedy Electric (SWDY) to 20.37% from 19.98%.

Elsewedy Electric (SWDY) reported a 64.21% year-on-year (YoY) increase in consolidated net profit attributable to the parent company for the first nine months of 2024.

ExxonMobil Egypt has announced a strategic partnership with Elsewedy University of Technology (SUT) - Polytechnic of Egypt to implement the polytechnic education model in Egypt, as part of its ongoing commitment to bridging the gap between academia and labor market needs.

The Ministry of Transport has reached an agreement with Elsewedy Electric and MOVYON SPA Italy to implement a smart transportation system on seven main road routes.

Elsewedy Electric, in partnership with Siemens, is setting up a power plant in Saudi Arabia’s city of Rabigh with investments of $800 million.

Elsewedy Electric (SWDY) reported a 51.6% year-on-year (YoY) increase in consolidated net profits attributable to the parent company for the first half (H1) of 2024 to EGP 8.436 billion from EGP 5.564 billion.

The Ministry of Electricity and Renewable Energy has probed cooperation with Elsewedy Electric in the fields of power loss reduction and electricity distribution.

El Sewedy Cables Qatar, Elsewedy Electric’s sister company, has signed a three-year engineering, procurement, and construction (EPC) contract worth over QAR 1 billion with Qatar Power Transmission System Expansion (KAHRAMAA).

EFG Hermes’ investment banking division has successfully wrapped up advisory on the UAE-based Electra Investment Holding’s $449 million acquisition of a 19.98% stake in Elsewedy Electric.

The Emirati company Electra Investment Holding has acquired around 20% of Egypt’s Elsewedy Electric for a total of $450 million or at $1.05 per share.

Elsewedy Electric (SWDY) reported a 37.02% year-on-year (YoY) increase in consolidated net profit attributable to the parent company for the first quarter (Q1) of 2024.

The Financial Regulatory Authority (FRA) has given the green light for Emirati company Electra Investment Holding to proceed with acquiring a 24.5% stake in of El Sewedy Electric.