Elsewedy Electric Co SAE (SWDY)

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News

16 December 03:18 PM Elsewedy Electric fuels regional expansion via new investments in Saudi Arabia, Qatar

Cairo - Mubasher: Elsewedy Electric Company announced expansion plans in Saudi Arabia and Qatar in line with its growth strategy, according to a bourse disclosure.  The EGX-listed firm has opened new factories in Saudi Arabia, spanning the …

Companies Investments

26 November 06:17 PM Elsewedy Electric unveils $40m facility in Riyadh as 1st local factory accredited by SEC

Cairo - Mubasher: Elsewedy Electric KSA, a subsidiary of Elsewedy Electric Company, has inaugurated a $40 million factory in Riyadh’s Elsewedy Industrial Complex, according to a press release. The strategic investment exceeding SAR 75 million …

Corporate Actions

6 November 02:22 PM Elsewedy Electric stock catches up with blue chips in rising after accumulation phase

Cairo – Mubasher: Technical movements signaled by Mubasher Trade indicate that Elsewedy Electric Company stock has recently witnessed an attempt to break through the downward trend line extending for several months, which represents a positive …

Trading Activities

21 October 10:06 AM FRA rejects Sagasse’s MTO to acquire Elsewedy Electric

Mubasher: The Financial Regulatory Authority (FRA) has rejected the mandatory tender offer (MTO) submitted by Sagasse Investment Company to fully acquire Elsewedy Electric Company. Sagasse intended to offer EGP 65 per share in cash or via share …

Companies Investments

9 September 08:16 AM Elsewedy Electric to pump $2.5bn investments in Algeria

Cairo – Mubasher: Elsewedy Electric Company signed a framework agreement with the Algerian Investment Promotion Agency (AAPI) to expand its business in the industrial and energy sectors. The EGX-listed company plans to invest $2.50 billion in key …

Companies Investments

5 August 07:01 PM Elsewedy Electric sees higher consolidated profits in H1-25; revenues hit EGP 123.8bn

Cairo – Mubasher: Elsewedy Electric Company logged consolidated net profits attributable to the owners amounting to EGP 8.69 billion in the first half (H1) of 2025, versus EGP 8.43 billion in H1-24. The group generated revenues valued at EGP …

Financial Results

17 July 06:22 PM Elsewedy, regional Johnson Controls–Hitachi win contract for Egypt’s high-speed rail megaproject

Cairo – Mubasher: Johnson Controls–Hitachi Air Conditioning Middle East and Africa (Johnson Controls–Hitachi Air Conditioning MEA) along with Elsewedy Machinery, the trading arm of Elsewedy Electric Group, won a major HVAC contract for the …

Global Economy

27 May 07:15 AM Elsewedy Electric logs EGP 4.1bn consolidated profits in Q1-25

Cairo – Mubasher: Elsewedy Electric Company recorded a 4.20% rise in consolidated net profits after tax and minority interest to EGP 4.14 billion during the first quarter (Q1) of 2025. The generated earnings were compared to EGP 3.97 billion in …

Financial Results

17 November 2024 11:13 AM Elsewedy Electric’s profits surge 64% in 9M-24; revenues hit EGP 164.8bn

Cairo – Mubasher: The net income after the minority of Elsewedy Electric Company hiked by 64.20% to EGP 13.25 billion in the first nine months (9M) of 2024 from EGP 8.07 billion in 9M-23. Total consolidated revenues hit EGP 164.80 billion as of 30 …

Financial Results

8 October 2024 03:36 PM Elsewedy Electric, Modon Holding team up to implement Ras El Hikma project

Cairo – Mubasher: Elsewedy Electric Company inked an agreement with UAE's Modon Holding as part of the development of the Ras El Hikma project. The two parties will join forces to supply building materials to the project, according to a bourse …

Companies Investments

26 September 2024 08:53 AM Elsewedy Electric announces $1bn project with SEC

Cairo – Mubasher: Elsewedy Electric Company has implemented a power generation station with a total capacity of around 1,200 megawatts (MW) using a combined cycle system in the Saudi city of Rabigh. The project includes the participation of Saudi …

Companies Investments

18 August 2024 02:59 PM Elsewedy Electric’s consolidated profits exceed EGP 9bn in H1-24

Cairo – Mubasher: Elsewedy Electric Company posted consolidated net profits amounting to EGP 9.10 billion in the first half (H1) of 2024, versus EGP 6.15 billion in H1-23. Net revenues reached EGP 102.62 billion in H1-24, up year-on-year (YoY) …

Financial Results

14 July 2024 04:54 PM Elsewedy Electric unveils QAR 1bn contract with Qatar’s Kahramaa

Cairo – Mubasher: Elsewedy Cables Qatar, the sister company of Egypt’s Elsewedy Electric Company has signed a contract valued at QAR 1 billion with Qatar General Electricity & Water Corporation (Kahramaa), according to a bourse filing. The …

Companies Investments

10 July 2024 02:04 PM IHC’s unit completes nearly 20% equity acquisition in Elsewedy Electric; value unveiled

Cairo – Mubasher: The Egyptian Exchange (EGX) has completed the transfer of the ownership of around 427.71 million shares in Elsewedy Electric Company to Two Point Zero Group, a subsidiary of International Holding Company (IHC), for EGP 21.20 …

Companies Investments

7 July 2024 00:15 PM EGX extends period for Elsewedy Electric’s acquisition offer

Cairo – Mubasher: The Egyptian Exchange (EGX) announced extending the validity period for the acquisition offer the non-binding offer (NBO) for the acquisition of Elsewedy Electric Company by the UAE’s Electra Investment Holding to 8 July 2024. In …

Companies Investments

6 June 2024 11:30 AM Elsewedy Electric’s consolidated profit leaps 33% YoY in Q1-24

Cairo – Mubasher: Elsewedy Electric Company has reported a 33.33% year-on-year (YoY) surge in consolidated net profit to EGP 4.23 billion in the first quarter (Q1) of 2024 from EGP 3.17 billion. Consolidated revenues soared 35.70% YoY to EGP 45.24 …

Financial Results

2 June 2024 02:56 PM EGX announces details for Elsewedy Electric’s acquisition offer

Cairo – Mubasher: The Egyptian Exchange (EGX) has released details of the non-binding offer (NBO) for the acquisition of between 15% and 24.50% of Elsewedy Electric Company by the UAE’s Electra Investment Holding. The NBO sets the price of …

Mergers and Acquisitions

19 May 2024 03:25 PM UAE’s Electra Investment offers to buy up to 24.5% of Elsewedy Electric

Cairo – Mubasher: UAE’s Electra Investment Holding has submitted an offer to acquire up to 24.50% of Elsewedy Electric Company. Under the offer submitted to the Financial Regulatory Authority (FRA), Electra Investment seeks to buy around 531.48 …

Companies Investments

22 April 2024 04:53 PM Elsewedy Electric’s shareholders nod for EGP 30m capital cut, over EGP 1bn dividends

Cairo – Mubasher: The ordinary general meeting (OGM) of Elsewedy Electric Company agreed to disburse EGP 0.50 per share as a cash dividend for 2023. The company will pay out a total amount of EGP 1.06 billion to the eligible equityholders of …

Corporate Actions

21 March 2024 03:07 PM Elsewedy Electric ups credit facility deal with Afreximbank to $300m

Cairo – Mubasher: Elsewedy Electric Company’s board approved increasing a revolving facility agreement with the African Export-Import Bank (Afreximbank) to $300 million. The agreement was also signed with Elsewedy Electric for Transmission and …

Banking and Finance

13 March 2024 00:38 PM Elsewedy Electric logs 87% YoY higher consolidated profit in 2023; dividends ratified

Cairo – Mubasher: Elsewedy Electric Company posted an 86.70% year-on-year (YoY) surge in consolidated net profit after minority interest to EGP 10.11 billion in 2023 from EGP 5.41 billion. Consolidated revenue soared 65.10% YoY to EGP 152.18 …

Financial Results

9 November 2023 00:27 PM Elsewedy Electric’s 9M-23 consolidated revenues hit EGP 108.8bn; higher profits recorded

Cairo – Mubasher: The consolidated net profits attributable to the owners of Elsewedy Electric Company hit EGP 8.07 billion in the first nine months (9M) of 2023, versus  EGP 3.09 billion in 9M-22. Revenues enlarged to EGP 108.80 billion in 9M-23 …

Financial Results

18 October 2023 02:51 PM Elsewedy Electric secures $50m financing from EBRD

Cairo – Mubasher: United Metals Company (UMC), a subsidiary of Elsewedy Electric Company, has obtained a $50 million loan from the European Bank for Reconstruction and Development (EBRD). The unit will use the investment to finance its working …

Companies Investments

12 September 2023 09:10 AM Elsewedy Electric, Orascom Construction deny obtaining loan from African Export-Import Bank

Cairo – Mubasher: Elsewedy Electric Company and Orascom Construction refuted reports claiming that they obtained a $200 million loan from the African Export-Import Bank. The two companies said the circulated news is not correct, affirming that …

Banking and Finance

24 August 2023 11:03 AM Elsewedy Electric records surge in H1-23 profits; revenues hit EGP 69.63bn

Cairo – Mubasher: Elsewedy Electric Company achieved consolidated net profits attributable to the shareholders worth EGP 5.56 billion in the first half (H1) of 2023, an annual leap of 194.80% from EGP 1.88 billion. The firm generated EGP 69.63 …

Financial Results