Arab Finance: Company Board of Directors approved Ezz Steel – (ESRS)Held on 12-22-2024, the company issued solidarity guarantees for the benefit of subsidiaries, sister companies, and related companies, according to statement Egyptian Stock Exchange.
Regarding the consolidated and unconsolidated results of its business for the period ending on 06/30/2024, it showed achieving a consolidated net profit amounting to 1.562 billion pounds, compared to a consolidated net loss amounting to 643.286 million pounds, according to the company stated in Her statement Sent to the Egyptian Stock Exchange.
The results also showed a net profit independent It amounted to 568,005 million pounds, compared to a standalone net loss of 38,353 million pounds for the same period of the previous year.
The company was established in 1994 and the purpose of the company and its subsidiaries is to manufacture, trade and distribute iron and steel of all types and related products and services. Ezz Steel is currently one of the largest steel producers in the Middle East and North Africa, and it also exports lengths and flat steel products to many countries around the world. In 2011, Ezz Steel’s production capacity reached 7 million tons annually, divided between 4.7 million tons of steel length products and 2.3 million tons of hot-rolled flat steel coils. These high-quality products are manufactured through the four Ezz Steel factories inside Egypt, and their advanced production units, which are the latest in technology in this industry.
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