Latest news with #ElsewedyElectric
Zawya
26-05-2025
- Business
- Zawya
Egypt: Elsewedy Electric's Q1 consolidated profit rises 4.18% YoY
Elsewedy Electric (SWDY) reported a 4.18% year-on-year (YoY) increase in consolidated net profit attributable to the parent company for the first quarter (Q1) of 2025, according to the company's financial statement filed to the Egyptian Exchange (EGX) on May 26th. Consolidated net profit attributable to the parent company amounted to EGP 4.146 billion in Q1 2025, compared to a profit of EGP 3.979 million in Q1 2024. The company also generated consolidated revenues of EGP 59.391 billion in the first three months this year, up from EGP 45.249 billion in the same quarter last year. The company recorded a standalone net loss after tax of EGP 477.965 million in Q1 2025, up from EGP 644.131 million in Q1 2024. Elsewedy Electric is a leading integrated energy solutions provider in Africa and the Middle East. It has a portfolio incorporating all traditional and renewable energy areas along with related services. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-05-2025
- Business
- Zawya
Egypt's minister, Elsewedy Electric discuss collaboration on distribution, grid efficiency, and loss reduction
Egypt - Minister of Electricity and Renewable Energy Mohamed Shaker held a meeting with Ahmed El Sewedy, Chairperson of Elsewedy Electric, and his accompanying delegation to review ongoing and future areas of cooperation in Egypt's power sector. The discussions focused on Elsewedy Electric's progress in electricity generation, transmission, and distribution projects, particularly those supporting the Mostakbal Masr for Sustainable Development initiative. Both sides explored ways to strengthen collaboration in service quality enhancement, power reliability, technical and non-technical loss reduction, and the fight against electricity theft. The minister emphasized the importance of adhering to project timelines and accelerating connections to the national unified grid, especially in alignment with national agricultural, industrial, and infrastructure development plans. He also highlighted the strategic relevance of Elsewedy Electric's work in ensuring stable electricity supply to new and expanding communities. Key challenges facing current projects were addressed, with both parties discussing strategies for overcoming obstacles to expedite implementation. The meeting also considered proposals to reduce losses on low-voltage networks and improve the performance of distribution systems in residential and industrial zones. Discussions extended to potential public-private partnerships in electricity distribution, aiming to improve service delivery, increase revenue efficiency, and optimize asset management. These efforts fall within Egypt's broader strategy to leverage private sector capabilities—administrative, technical, and financial—to support the modernization of affiliated companies. Minister Shaker reaffirmed the government's commitment to ensuring secure and sustainable electricity supply, especially for national agricultural and industrial megaprojects. He also underscored the ministry's efforts to address illegal connections, enhance grid stability, and shift toward renewable energy to reduce fuel consumption and improve operational efficiency. He noted that the Ministry of Electricity is prioritizing the localization of energy-related industries, particularly renewable energy technologies, as part of Egypt's long-term development vision. This includes increasing local manufacturing of electrical components, upgrading the national grid, and moving steadily toward the implementation of a smart grid capable of integrating large-scale renewable energy generation. Shaker concluded by stressing the importance of adopting advanced technologies and energy storage solutions to minimize transmission losses and strengthen Egypt's transition to clean, reliable, and sustainable energy systems. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
18-05-2025
- Business
- Daily News Egypt
Electricity Minister, Elsewedy Electric discuss collaboration on distribution, grid efficiency, and loss reduction
Minister of Electricity and Renewable Energy Mohamed Shaker held a meeting with Ahmed El Sewedy, Chairperson of Elsewedy Electric, and his accompanying delegation to review ongoing and future areas of cooperation in Egypt's power sector. The discussions focused on Elsewedy Electric's progress in electricity generation, transmission, and distribution projects, particularly those supporting the Mostakbal Masr for Sustainable Development initiative. Both sides explored ways to strengthen collaboration in service quality enhancement, power reliability, technical and non-technical loss reduction, and the fight against electricity theft. The minister emphasized the importance of adhering to project timelines and accelerating connections to the national unified grid, especially in alignment with national agricultural, industrial, and infrastructure development plans. He also highlighted the strategic relevance of Elsewedy Electric's work in ensuring stable electricity supply to new and expanding communities. Key challenges facing current projects were addressed, with both parties discussing strategies for overcoming obstacles to expedite implementation. The meeting also considered proposals to reduce losses on low-voltage networks and improve the performance of distribution systems in residential and industrial zones. Discussions extended to potential public-private partnerships in electricity distribution, aiming to improve service delivery, increase revenue efficiency, and optimize asset management. These efforts fall within Egypt's broader strategy to leverage private sector capabilities—administrative, technical, and financial—to support the modernization of affiliated companies. Minister Shaker reaffirmed the government's commitment to ensuring secure and sustainable electricity supply, especially for national agricultural and industrial megaprojects. He also underscored the ministry's efforts to address illegal connections, enhance grid stability, and shift toward renewable energy to reduce fuel consumption and improve operational efficiency. He noted that the Ministry of Electricity is prioritizing the localization of energy-related industries, particularly renewable energy technologies, as part of Egypt's long-term development vision. This includes increasing local manufacturing of electrical components, upgrading the national grid, and moving steadily toward the implementation of a smart grid capable of integrating large-scale renewable energy generation. Shaker concluded by stressing the importance of adopting advanced technologies and energy storage solutions to minimize transmission losses and strengthen Egypt's transition to clean, reliable, and sustainable energy systems.
Zawya
06-05-2025
- Business
- Zawya
Elsewedy Electric acquires majority stake in Thomassen Service to expand gas turbine operations
Egypt - Elsewedy Electric, a leading integrated energy and infrastructure solutions provider across Europe, the Middle East, and Africa, has acquired a 60% stake in Thomassen Service, including its Middle East and Africa business unit (TSME), filter manufacturing division, and its African affiliate. With over 30 years of experience in gas turbine operation, maintenance, and component repair, Thomassen Service brings highly specialized capabilities that align with Elsewedy Electric's strategy to deliver end-to-end, high-performance energy solutions. Renowned for its Dutch engineering roots, Thomassen Service has earned a strong reputation for precision, reliability, and innovation in the energy sector. Its expertise in maintaining and optimizing gas turbine performance has served a wide client base across the Middle East and Africa, making it a strategic addition to Elsewedy Electric's growing energy services portfolio. 'This acquisition is a key milestone in Elsewedy Electric's global expansion strategy,' the company stated. 'It strengthens our engineering and construction (E&C) offerings by integrating specialized gas turbine operations, maintenance, and field services.' Through the acquisition, Elsewedy Electric gains access to TSME's established operations in the UAE, Oman, and Nigeria—accelerating entry into high-growth markets, enhancing its presence in Europe, and broadening its footprint in Africa's rapidly evolving energy landscape. The deal also marks Elsewedy Electric's strategic entry into the oil and gas services sector, where Thomassen Service's expertise in component repair and field maintenance will enable the company to offer tailored solutions to industrial clients, petrochemical facilities, and energy-intensive manufacturers. As part of the Elsewedy Electric Group, Thomassen Service will benefit from increased financial backing, global EPC integration, and expanded market access—enabling it to scale its services across the power and oil & gas industries. Ahmed Elsewedy, CEO of Elsewedy Electric, commented: 'By integrating TSME's deep technical expertise and regional service experience with our E&C capabilities, we are now positioned to deliver even greater value to clients across Africa, the GCC, and Europe.' Peter Hertog, CEO of Thomassen Service, added: 'Joining Elsewedy Electric allows us to scale our capabilities and reach new markets. We're proud to become part of a group that shares our commitment to excellence, innovation, and customer service.'
Daily News Egypt
06-05-2025
- Business
- Daily News Egypt
Elsewedy Electric acquires majority stake in Thomassen Service to expand gas turbine operations
Elsewedy Electric, a leading integrated energy and infrastructure solutions provider across Europe, the Middle East, and Africa, has acquired a 60% stake in Thomassen Service, including its Middle East and Africa business unit (TSME), filter manufacturing division, and its African affiliate. With over 30 years of experience in gas turbine operation, maintenance, and component repair, Thomassen Service brings highly specialized capabilities that align with Elsewedy Electric's strategy to deliver end-to-end, high-performance energy solutions. Renowned for its Dutch engineering roots, Thomassen Service has earned a strong reputation for precision, reliability, and innovation in the energy sector. Its expertise in maintaining and optimizing gas turbine performance has served a wide client base across the Middle East and Africa, making it a strategic addition to Elsewedy Electric's growing energy services portfolio. 'This acquisition is a key milestone in Elsewedy Electric's global expansion strategy,' the company stated. 'It strengthens our engineering and construction (E&C) offerings by integrating specialized gas turbine operations, maintenance, and field services.' Through the acquisition, Elsewedy Electric gains access to TSME's established operations in the UAE, Oman, and Nigeria—accelerating entry into high-growth markets, enhancing its presence in Europe, and broadening its footprint in Africa's rapidly evolving energy landscape. The deal also marks Elsewedy Electric's strategic entry into the oil and gas services sector, where Thomassen Service's expertise in component repair and field maintenance will enable the company to offer tailored solutions to industrial clients, petrochemical facilities, and energy-intensive manufacturers. As part of the Elsewedy Electric Group, Thomassen Service will benefit from increased financial backing, global EPC integration, and expanded market access—enabling it to scale its services across the power and oil & gas industries. Ahmed Elsewedy, CEO of Elsewedy Electric, commented: 'By integrating TSME's deep technical expertise and regional service experience with our E&C capabilities, we are now positioned to deliver even greater value to clients across Africa, the GCC, and Europe.' Peter Hertog, CEO of Thomassen Service, added: 'Joining Elsewedy Electric allows us to scale our capabilities and reach new markets. We're proud to become part of a group that shares our commitment to excellence, innovation, and customer service.'
