Arab Finance: Elsewedy Electric (SWDY) reported an 86.7% year-on-year (YoY) increase in consolidated net profits attributable to the parent company in 2023 to EGP 10.116 billion, compared to EGP 5.418 billion, as per a filing.
Consolidated revenues came in at EGP 152.186 billion last year, up from EGP 92.168 billion a year earlier.
In terms of standalone financials, the firm earned EGP 2.35 billion in net profits after tax in 2023, versus EGP 2.551 billion in 2022.
Meanwhile, standalone revenues surged to EGP 9.115 billion from EGP 7.671 billion.
Elsewedy Electric is a leading integrated energy solutions provider in Africa and the Middle East. It has a portfolio incorporating all traditional and renewable energy areas along with related services.