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Ezz Steel’s exports exceed $1billion in 9 months

Ezz Steel announced that its total exports in the first nine months of 2021 reached $1.013 billion.

Exports amounted to $598 million in the first half (H1) of 2021 and $419 million in the third quarter (Q3) of the year, according to a bourse disclosure.

In the January-June period, the steel manufacturer turned to net profits of EGP 2.39 billion, versus net losses of EGP 2.77 billion in the prior-year period, including minority shareholders’ rights.

The company’s sales rose in the same period to EGP 30.42 billion, compared to EGP 17.82 billion in the first half of last year.

At the level of independent businesses in the first half, the company achieved profits of EGP 156.23 million, compared to losses amounting to EGP 467.54 million in the first half of 2020.

 

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

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