Earnings Report /
Egypt

El Sewedy Electric: SWDY 3Q21| Slow down in margins weigh down on bottom line, Maintain OW

  • Topline inline with estimates; Margins cool off; Net Debt Rises, Cable prices spur segment growth

  • Cable prices spur segment growth; margins were squeezed on sales mix

  • Acquired transformers companies have been completely consolidated, Outlook remains positive, Maintain OW

Zeyad Ahmed
Al Ahly Pharos Securities Brokerage
16 November 2021