Ezz Steel registers $214.8mln consolidated profits in 2022

Ezz Steel generated EGP 6.64 billion in consolidated net profit after tax in 2022, an annual surge from EGP 5.39 billion, including non-controlling equity.

The firm reported a hike in sales to EGP 83.98 billion last year from EGP 67.81 billion in 2021, according to the financial results.

Basic and diluted earnings per share (EPS) rose to EGP 7.98 as of 31 December 2022 from EGP 6.61 a year earlier, while the total assets grew to EGP 66.21 billion from EGP 50.02 billion.

Standalone Income Statements

Ezz Steel logged standalone net profits after tax valued at EGP 1.05 billion last year, versus EGP 288.15 million in 2021.

Non-consolidated sales enlarged to EGP 16.66 billion in 2022 from EGP 13.16 billion during January-December 2021, whereas the basic and diluted EPS climbed to EGP 1.95 from EGP 0.53.

Meanwhile, the total standalone assets amounted to EGP 15.96 billion as of 31 December 2022, up year-on-year (YoY) from EGP 14.61 billion.

In the first nine months (9M) of 2022, the EGX-listed company witnessed 52% YoY higher consolidated net profits at EGP 5.70 billion, compared to EGP 3.75 billion, including minority shareholders’ rights.