Ezz Steel SAE (ESRS)

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News

13 May 2020 01:34 PM MSCI Egypt Index deletes 2 stocks, adds 2 others

By: Heba El-Kordy Cairo – Mubasher: The leading provider of research-based indexes and analytics MSCI Inc. announced the deletion of two Egyptian stocks and the addition of two other to the MSCI ACWI Small Cap Index. Ezz Steel and Pioneers Holding …

Company News

22 April 2020 05:52 PM Ahmed Ezz raises stake in Ezz Steel

Cairo – Mubasher: The Egyptian businessman Ahmed Abdel Aziz Ezz has raised his holding in Ezz Steel to 27.29% from 0.00055%. The value of the transaction amounted to EGP 836.409 million at an average price of EGP 5.64 per share, according to a …

Mergers and Acquisitions

21 April 2020 00:28 PM Ezz Steel sees EGP 836m block trading deal

Cairo – Mubasher: The Egyptian Exchange (EGX) announced that a transaction was executed on the shares of Ezz Steel through block trading. The deal saw the trading of 148.299 million shares at a total value of EGP 836.409 million, according to a …

Trading Activities

19 March 2020 00:29 PM Lower energy prices to cut down production costs – Ezz Steel

Cairo – Mubasher: Ezz Steel announced that the government’s decision to cut energy costs will lower the company’s production costs. Each tonne of end products requires 11 million British thermal units (MMBtu) of natural gas, the steel manufacturer …

Company News

2 January 2020 11:02 AM Ezz Steel’s losses balloon to EGP 4.3bn in 9M

Cairo – Mubasher: Ezz Steel reported a 1,225% year-on-year surge in its net losses during the first nine months of 2019, the company’s consolidated financial statements showed. Net losses widened to EGP 4.32 billion during the January-September …

Financial Results

30 December 2019 00:01 PM Ezz Steel incurs EGP 848m loss in 9M unaudited standalone financials

Cairo – Mubasher: Ezz Steel announced succumbing to losses during the first nine months of 2019, the company’s unaudited standalone financial results showed. The steel manufacturer suffered net losses of EGP 848 million in the January-September …

Financial Results

12 December 2019 02:22 PM EGX executes MTO on Al Ezz Rolling Mills

Cairo – Mubasher: The mandatory tender offer (MTO) for Al Ezz Rolling Mills (ERM), owned by Ezz Steel, was executed on the Egyptian Exchange (EGX). Al Ezz Dekheila Steel – Alexandria has purchased 89.8 million shares, including 100,000 shares …

Insider Trading & Treasury Stocks

27 November 2019 00:21 PM Ezz Steel to sell 88.9m shares in Al Ezz Rolling Mills in stock-swap deal

Cairo – Mubasher: The board of directors of Ezz Steel approved the sale of its 88.92 million shares in Al Ezz Rolling Mills (ERM) in exchange for increasing its shares in Al Ezz Dekheila Steel – Alexandria. For share swap ratio, every 51 shares of …

Corporate Actions

17 November 2019 01:40 PM Ezz Steel sells subsidiary to Al Ezz Dekheila Steel for $356m

Cairo – Mubasher: Ezz Steel announced that its shares in Al Ezz Flat Steel Co (EFS) have been sold over the counter (OTC) to Al Ezz Dekheila Steel – Alexandria for $356.066 million (EGP 5.74 billion). The deal involved the sale of 35.289 million …

Corporate Actions

7 November 2019 04:03 PM Al Ezz Dekheila gets FRA’s approval on procedures to acquire ERM

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved to publish the disclosure form of the mandatory tender offer (MTO) submitted by Al Ezz Dekheila Steel – Alexandria to fully acquire El Ezz Rolling Mills (ERM), owned by …

Mergers and Acquisitions

13 October 2019 11:05 AM Ezz Steel swings to EGP 2.5bn loss in H1

Cairo – Mubasher: Ezz Steel announced turning to losses during the first half of 2019, the company’s consolidated financial statements showed. The Egyptian firm suffered net losses of EGP 2.46 billion during the six-month period ended 30 June, …

Financial Results

24 August 2019 08:30 PM Interest rate cut to boost 8 stocks on EGX

Cairo – Mubasher: The Central Bank of Egypt’s (CBE) decision to cut interest rates is expected to have a positive impact on the liquidity of the Egyptian Exchange (EGX), according to a report released by Beltone Research on Saturday. The cut of …

Stock Evaluations

22 August 2019 03:25 PM HSBC Bank PLC sells 1.3m shares in Ezz Steel

Cairo – Mubasher: HSBC Securities Egypt Company announced that HSBC Bank PLC has reduced its stake in Ezz Steel to 4.82% from 5.07%. HSBC Bank PLC has sold 1.3 million shares for a total value of EGP 14.2 million or EGP 10.86 per share, the …

Trading Activities

6 August 2019 01:55 PM Al Ezz Dekheila Steel approves fair value at EGP 1,176.8/shr

Cairo – Mubasher: Al Ezz Dekheila Steel – Alexandria, a subsidiary of Ezz Steel, announced that its board of directors approved the fair value studies prepared by the financial advisor Grant Thornton. The fair value of Al Ezz Dekheila Steel – …

Corporate Actions

8 July 2019 01:03 PM Ezz Steel’s Q1 financials turn negative on Vale's dam collapse

Cairo – Mubasher: Ezz Steel revealed that turning into losses during the first quarter of 2019 was prompted by rising iron ore prices. Ore iron prices have increased following the collapse of a dam at one of the mines owned by Brazilian Vale, one …

Financial Results

7 July 2019 01:13 PM Ezz Steel turns to losses in Q1

Cairo – Mubasher: Ezz Steel reported turning into losses during the first quarter of 2019, according to the company’s consolidated financial results. The steelmaker incurred net losses of EGP 1.27 billion in the three-month period ended 31 March, …

Financial Results

9 May 2019 08:14 PM Ezz Steel posts 6.4% YoY loss decline in 12M

Cairo – Mubasher: Ezz Steel on Thursday reported a 6.4% year-on-year loss decline during the full year 2018, recording EGP 1.02 billion. The company’s sales grew to EGP 49.16 billion last year, compared to EGP 41.74 billion a year earlier, …

Financial Results

10 December 2018 11:44 AM Ezz Steel incurs EGP 333m loss in 9M

Net loss amounted to EGP 333.05 million during the January-September period

Global Economy

25 October 2018 01:39 PM Ezz Steel’s rolling unit seeks EGP 2.5bn loan

Cairo – Mubasher: Al Ezz Rolling Mills (ERM), a subsidiary of Ezz Steel, is nearing an EGP 2.5 billion loan agreement with five national banks to finance its working capital and planned expansions over the coming period. The lenders comprise of …

Banking and Finance

6 September 2018 00:01 PM Ezz Steel logs EGP 143.7m profit in H1

Cairo – Mubasher: Ezz Steel, Egypt's largest steelmaker, on Thursday reported it has turned profitable for the first half of 2018, helped by higher sales. Consolidated profits amounted to EGP 143.7 million in H1-18, against a loss of EGP 970.2 …

Financial Results

30 August 2018 05:06 PM Ezz steel reduces prices by EGP 325

By: Ahmed Ammar Cairo - Mubasher: Ezz Steel has reduced its prices for factory delivery by around EGP 325 per ton, according to the head of the construction materials department in the Federation of Egyptian Chambers of Commerce (FEDCOC). Ahmed …

Sector Reports

6 June 2018 04:29 PM Ezz Steel dividends expected at EGP110-130/shr

Cairo - Mubasher: A new report expects Ezz Steel performance to remain depressed this year. Pharos expects the company’s distributed dividend per share to be in the range of EGP 110 to 130, decreasing by 11% to 13% year-on-year in 2018. The …

Stock Evaluations

6 June 2018 11:49 AM Ezz Steel turns profitable in Q1-18

Cairo – Mubasher: The consolidated financial statements of Ezz Steel showed that Egypt's largest steelmaker turned a profit for the first quarter of 2018, helped by an increase in sales. Profits amounted to EGP 184.27 million in Q1-18, against a …

Financial Results

2 May 2018 01:20 PM Ezz Steel OKs guarantee for unit’s EGP 350m funding

Cairo – Mubasher: The extraordinary general meeting (EGM) of Ezz Steel has approved a guarantee for Al Ezz factories regarding the short-term financing of EGP 350 provided from National Bank of Egypt (NBE). The EGM decided to assign those who have …

Corporate Actions

2 May 2018 11:19 AM Ezz steel OGM nods to limit losses via reserve

Cairo – Mubasher: The ordinary general meeting (OGM) of Ezz Steel has approved using a proportion of its reserve to cover losses. The OGM has also approved the annual financial statements and endorsed netting contracts finished in 2017, the …

Corporate Actions