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Ezz Steel turns profitable in H1-21

Ezz Steel turned to net profits of EGP 2.39 billion in the first half (H1) of 2021, versus net losses of EGP 2.77 billion in H1-20, including minority shareholders’ rights.

The sales surged to EGP 30.42 billion in the six-month period ended 30 June, compared to EGP 17.82 billion in the corresponding period in 2020, the company said in a bourse disclosure on Monday.

As for standalone business, the company achieved net profits of EGP 156.23 million in H1-21, against net losses of EGP 467.54 million in H1-20.

During the first quarter (Q1) of 2021, the steel manufacturer achieved net profits of EGP 1.187 billion, compared to net losses of EGP 1.35 billion in Q1-20.

 

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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.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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