Egypt's largest steelmaker Ezz Steel has announced its financial results for 2015, reporting a net loss of EGP 418 million ($47.07 million), decreasing from the net loss of EGP 697 million in the previous year. The company's sales revenues in 2015 amounted to EGP 16.64 billion ($1.87 billion), falling 14 percent year on year. In the local market, long steel prices were down 3.3 percent, with flat steel prices decreasing by two percent, while long export prices fell 18.7 percent and flat export prices were down 17.1 percent, all year on year.
In 2015, Ezz Steel's consolidated sales, in terms of volume, totaled 3.8 million mt, declining 10 percent year on year. In the given period, Ezz Steel's long steel production volume amounted to 3.2 million mt, falling 10 percent, while its flat steel production volume decreased by 19 percent to 636,184 mt, both year on year.