Arab Finance: Ezz Steel (ESRS) has incurred EGP 113.036 million in consolidated net losses attributable to owners of the holding company in 2023, versus net profits amounting to EGP 4.252 billion in 2022, according to financial statements filed to the Egyptian Exchange (EGX) on April 15^th.

Sales surged to EGP 142.913 billion in the 12-month period ended December 31st, 2023, compared to EGP 83.984 billion the year before.

As for the standalone financial results, the company’s net profit after tax slightly declined to EGP 1 billion in 2023 from EGP 1.056 billion in 2022.

Ezz Steel is an Egypt-based manufacturer and trader of steel and related products. Together with its subsidiaries, the company is engaged in the manufacture, trade, and distribution of iron and steel products of all kinds and associated services.

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