AT A GLANCE: Ezz Steel Q1 2020 earnings down on pandemic effects

A summary of the financial results for Egypt’s biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2020.

In brief Earnings were down because “the negative effect of Covid-19 damped the positive volume trend [seen by Ezz Steel] at the beginning of the first quarter of 2020… Export quantities suffered the most,” according to Paul Chekaiban, chairman and managing director of Ezz Steel. “Contraction in [gross domestic product] worldwide took its toll on consumption, and… finished product prices [also suffered]. In...

Published

Serife Durmus

August 12, 2020

17:55 GMT

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