Elsewedy Electric, led by Egypt's billionaire El-Sewedy family, posts $2.68 billion in first-half revenue

Key Points 

• Elsewedy Electric grew H1 revenue 20.6% year-on-year to EGP123.8 billion ($2.56 billion), led by wires, cables, and engineering segments.
• Net profit rose 3.1% year-on-year to EGP8.7 billion ($179.6 million), despite softer margins and a 30% jump in SG&A expenses.
• CEO Ahmed El-Sewedy reaffirmed commitment to expansion strategy, targeting AI integration and new markets across Africa and the Middle East.

Elsewedy Electric, the Cairo-based multinational cable, and electrical equipment manufacturer led by the Egyptian billionaire El-Sewedy family, reported solid financial results for the first half of 2025, delivering double-digit revenue growth despite margin pressure from global headwinds.

The solid performance was driven by broad-based growth across all business segments, reflecting the company’s successful execution of its diversified strategy. The Wires, Cables & Accessories division remained the top revenue contributor, followed by the Engineering & Construction (E&C) Projects segment.

Revenue and earnings rise despite margin pressure

According to its recent release, the company recorded total revenues of EGP123.8 billion ($2.56 billion) for the six-month period ending June 30, 2025, a 20.63-percent increase from EGP102.6 billion ($2.12 billion) in the same period last year. Net profit edged up 3.1 percent year-on-year to EGP8.7 billion ($179.6 million), reflecting the strength of its diversified operations and disciplined execution.

The topline growth was driven by broad-based growth across all business segments, with the Wires, Cables & Accessories division contributing EGP73.9 billion ($1.53 billion), up 12.32 percent year-on-year from EGP65.8 billion ($1.36 billion), and maintaining its lead as the core revenue generator. Engineering & Construction projects saw a 36.1-percent rise to EGP32.8 billion ($676.54 million), supported by expanding turnkey operations across Africa and the Middle East.

Revenues for the Digital Solutions segment grew by 23 percent year-on-year, reaching EGP 7.75 billion ($160.14 million) in H1 2025. This growth was driven by higher volumes in the meters sub-segment and effective pricing strategies, supported by the segment’s expanding global presence. However, the group's gross profit dropped 10.8 percent to EGP20.25 billion due to a normalization in pricing and margin compression in its flagship wire and cable business. 

CEO reaffirms three-year expansion drive

Ahmed El-Sewedy, CEO of Elsewedy Electric, reaffirmed the company’s commitment to long-term growth through geographic diversification and digital integration. “We are pleased with our solid revenue performance in the first half of 2025, underpinned by disciplined execution and a resilient business model,” he said.

He also emphasized that the group remains on track with its three-year growth strategy, with focus areas including entering new markets, exploring adjacent industries, and leveraging AI-driven efficiencies. “We continue to position ourselves for long-term sustainable value creation,” he added.

Net bank debt dropped slightly by 2.94 percent to EGP19.1 billion ($395.42 million) by the end of June 2025 from EGP19.7 billion ($407.37 million) at year-end 2024. Inventory stood flat at EGP56.87 billion ($1.17 billion), while receivables rose to EGP110.27 billion ($2.28 billion), underscoring Elsewedy’s ongoing scale and operational depth.

Significant growth during the first-half of 2025

Founded in 1938, Elsewedy Electric has evolved into a leading provider of energy, digital, and infrastructure solutions across the Middle East and North Africa. Under the billionaire El-Sewedy family, the company has expanded globally, strengthening its market position. With a strong financial position, Elsewedy Electric is positioning itself for further expansion, reinforcing its role as a key player in the global energy and infrastructure market.