Elsewedy Electric Reports Consolidated Results for Q1 2011
31 May 2011
A Challenging First Quarter for Elsewedy Electric given recent political events in the region, yet results were positive with a 21% increase in revenues and flat EBITDA growth versus Q1 2010
Elsewedy Electric (SWDY.CA on the Egyptian stock exchange) the leading Wire & Cable and Integrated Energy Solution Provider in the Middle East and Africa, announced its consolidated financial results for the First Quarter ended March 31st ,2011.
•Consolidated revenues increased by 21% to reach LE 3,553 million for Q1 2011, versus LE 2,934 in Q1 2010, 4% lower than Q4 2010..
•Gross profit dropped 8% to reach LE 448 million during Q1 2011, versus LE 490 million in Q1 2010, 9% lower than Q4 2010.
•EBITDA stood at LE 335 million in Q1 2011, versus LE 342 million in Q1 2010, 29% higher than Q4 2010.
•Net Profit after Minority Interest dropped 32% to reach LE 171 million in Q1 2011 versus LE 251 million for Q1 2010, 76 % higher than Q4 2010.
A Challenging First Quarter for Elsewedy Electric given recent political events in the region, yet results were positive with a 21% increase in revenues and flat EBITDA growth versus Q1 2010
Elsewedy Electric (SWDY.CA on the Egyptian stock exchange) the leading Wire & Cable and Integrated Energy Solution Provider in the Middle East and Africa, announced its consolidated financial results for the First Quarter ended March 31st ,2011.
•Consolidated revenues increased by 21% to reach LE 3,553 million for Q1 2011, versus LE 2,934 in Q1 2010, 4% lower than Q4 2010..
•Gross profit dropped 8% to reach LE 448 million during Q1 2011, versus LE 490 million in Q1 2010, 9% lower than Q4 2010.
•EBITDA stood at LE 335 million in Q1 2011, versus LE 342 million in Q1 2010, 29% higher than Q4 2010.
•Net Profit after Minority Interest dropped 32% to reach LE 171 million in Q1 2011 versus LE 251 million for Q1 2010, 76 % higher than Q4 2010.