14
Dec
13:01
Pound devaluation, raw materials seen hampering EZDK margins
Ezz Dekheila Steel (EZDK) will report a sizeable foreign exchange (FX) loss in the fourth quarter as the company’s net foreign denominated debt stands at $515 million, according to investment bank Pharos Holding. January-September FX loss grew to EGP 491m ($26m).
EZDK reported consolidated revenue of EGP 4.21 billion in Q3, up 93% on-year and 55% on-quarter. Gross profit margin (GPM) was at 13.3% versus -2.1% in Q3 2015 and 3.4% in Q2 2016. EZDK’s at…
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Anonymous
Very good overview of the weekly steel market.
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