Swvl secures $6.3 million contract with e& Egypt

DUBAI - Swvl Holdings Corp (NASDAQ:SWVL), a global provider of transformative mobility solutions, has secured a 5-year contract with e& Egypt, a leading telecom operator in Egypt, valued at approximately $6.3 million. The deal marks a significant step in Swvl's efforts to expand its presence in the Egyptian market and strengthen its leadership in the mobility sector.

The partnership with e& Egypt, part of the e& Group, is expected to leverage Swvl's technological capabilities to enhance daily transportation for dense, dynamic workplace environments. Swvl's CEO, Mostafa Kandil, emphasized the importance of the collaboration, stating that it affirms the company's potential to positively influence the mobility landscape and contribute to its profitable growth trajectory.

Swvl, known for its tech-based solutions, offers an alternative to public transportation with its parallel mass transit systems. Through its proprietary app, customers can book rides on private buses and vans, enjoying a convenient, efficient, and eco-friendly travel experience.

The collaboration with e& Egypt is anticipated to not only redefine industry standards but also drive societal change and support sustainable transit solutions. This initiative aligns with Swvl's mission to provide safe, accessible, and environmentally responsible mobility options.

This news is based on a recent press release statement by Swvl Holdings Corp and does not include any forward-looking statements from the company. Swvl has made no commitment to update any forward-looking statements and advises readers not to place undue reliance on such statements, which were not intended as guarantees or predictions of future performance.

For further information regarding risks and uncertainties that could affect Swvl's business, refer to the company's annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission.

InvestingPro Insights

As Swvl Holdings Corp (NASDAQ:SWVL) forges a substantial new partnership with e& Egypt, the company's financials and stock performance present a mixed picture. On the positive side, Swvl's market capitalization stands at a modest $59.53 million, and it has been profitable over the last twelve months, which is a noteworthy achievement for investors considering the company's growth trajectory and future prospects. Moreover, the company's P/E ratio is currently at 15.51, indicating a valuation that could be attractive relative to near-term earnings growth.

Still, it is important to note that Swvl has experienced significant price fluctuations. Over the last three months, the stock has seen a considerable decline of 51.24%, which may be indicative of high price volatility. This is a critical factor for potential investors to consider, as it reflects the company's stock performance in the recent past. The company's price has fallen significantly over the last five years, which might raise concerns about its long-term market position.

For investors seeking deeper insights into Swvl's financial health and stock performance, there are 15 additional InvestingPro Tips available, including analysis on cash burn rates and short-term obligations. These can provide a more nuanced understanding of the company's financial condition and help investors make more informed decisions. To explore these insights and make the most of your investment strategy, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro.

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