Egyptian Brothers Ahmed, Sadek El-sewedy See 128 Million Surge In Elsewedy Electric

Ahmed and Sadek El-Sewedy's stake in Elsewedy Electric increased by 127.92 million, fueled by a rally in the companys share price.

Elsewedy Electrics stock rose 7.68, pushing its market capitalization above 3.5 billion after strong financial results for 2024.

The El-Sewedy brothers' combined stake is now valued at nearly 1.8 billion, showcasing their growing influence in Egypts business landscape.

Egyptian businessmen Ahmed and Sadek El-Sewedy have seen their combined stake in Elsewedy Electric grow by 127.92 million in just over a month, fueled by a strong rally in the companys share price. As key figures behind one of Africas largest electric and infrastructure conglomerates, the brothers have further strengthened their standing in Egypts business world.

A surge in investor confidence, backed by solid financial results, has pushed Elsewedy Electrics stock higher on the Egyptian Exchange EGX. The share price has climbed 7.68 percent, rising from EGP77.12 1.52 on Feb. 11 to EGP83.04 1.64 in the latest market update. This increase has lifted its market capitalization past 3.5 billion, a milestone for the Egyptian group.

Ahmed El-Sewedy, the companys CEO, holds a 25.52 percent stakeequivalent to 546,252,820 shares. Since Feb. 11, the value of his stake has increased by 63.94 million, rising from EGP42.13 billion 833 million to EGP45.36 billion 897 million.

Meanwhile, his brother, Sadek El-Sewedy, who serves as non-executive chairman, holds a 25.53 percent stake, or 546,502,820 shares. His holdings have gained 63.97 million, growing from EGP42.15 billion 833.37 million to EGP45.38 billion 897.34 million over the same period.

This surge comes on the heels of Elsewedy Electrics exceptional financial performance . The company reported a 72.6 percent jump in net profit for 2024, reaching EGP17.46 billion 344.74 million, while revenue soared 52.4 percent to EGP231.98 billion 4.58 billion.