Financing issues

Mohamed Elkarimy (Migo)

MA2N0249

Elsewedy Electric

Type corporation

Industry Energy Solution Provider

Founded 1938

Headquarters Cairo, Egypt

Area served Worldwide

Key people Ahmed Elsewedy (President and CEO)

Revenue 1.692 Billion USD(2009)[1]

Net income 114.9 million USD(2009)[1]

Employees 10,000 (2009)

Website www.elsewedy.com

EL Sewedy Electric Company

• Company background :

• Elsewedy Electric is an Egyptian manufacturing company. It was founded in 1938 by the Elsewedy family.

• The company manufactures and sells integrated energy products and services in seven energy segments: Cables and accessories, electrical products, telecommunications, transformers, wind energy generation, energy measurement and management, engineering, procurement and contracting .

Company Strategy

• Elsewedy strategy is driven by a unique corporate structure that allows Elsewedy Electric to act as both a global company with multi‐national operations and export markets, and as a truly local market player with deep roots in domestic economies.

• Consolidated revenues increased by 14% to reach EGP 12.8 billion for 2014, versus EGP 11.2 billion in 2013.

• Gross profit increased by 18% to reach EGP 1,985 million during 2014, versus EGP 1,677 million in 2013.

• Net profit after Minority Interest increased by 63% reached EGP 310 million in 2014 versus EGP 190 million for 2013.

Revenues and Gross Profit Contribution by Business Line

Wire & Cables Segment

• Wires & Cables segment revenues increased by 8% to reach EGP 9,508 million in 2014 versus EGP 8,801 million in 2013. In terms of volumes, the segment sold 134,096 tons of cables in 2014 versus 118,494 tons in 2013, an increase of 13%.

Meters Segment

• Revenues from the meters segment decreased by 32% in 2014 versus 2013 to reach EGP 496 million versus EGP 731 million in 2013. Gross profit decreased by 18% to reach EGP 177 million in 2014 versus 217 million in 2013.

Transformers Segment

• Revenues from the transformers segment increased 38% in 2014 versus 2013 to reach EGP 465 million, while gross profit increased by 10% to reach EGP 86 million in 2014.

Turnkey Projects

• Turnkey revenues witnessed an 82% increase, reaching EGP 2,120 million in 2014 versus EGP 1,162 million during 2013. Gross profit increased by 22% to reach EGP 286 million in 2014 versus EGP 234 million in 2013.

Other Electrical Products Segment

• Revenues from the Electrical products segment increased by 7% in 2014 versus 2013, to reach EGP 223 million, whilst gross profit decreased by 49 % to reach EGP 41 million.

Debt

• Net debt as of September 30th, 2014 remains flat at EGP 3,344 million versus EGP 3,327 million as of June 30th, 2014.