AGTHIA Group

Agthia Group PJSC has announced the completion of procedures related to the restructuring of the indirect stake of minority shareholders in Ismailia Agricultural and Industrial Investment Company – Furat (Atyab) for the benefit of AG Synergy Holdings 1 RSC LTD. This follows a disclosure made on 14 March 2024. The notification was addressed to the Abu Dhabi Securities Exchange and the Securities and Commodities Authority.

The text provides contact details for Agthia Group PJSC, located in Abu Dhabi, UAE. It also mentions a Management Discussion & Analysis Report on the company's Q1 2024 results, released on 15 May 2024.

Agthia Group PJSC, a leading regional food and beverage company, reported a 22.6% net revenue growth and a 32.0% group net profit growth for Q1 2024. The strong performance was driven by profitable growth across all business segments, including Snacking, Water & Food, and Agri-Business. The group's net revenue increased to AED 1.45 billion, with a 17.5% growth from volume and 5.1% from pricing. Despite global macroeconomic challenges and currency devaluation in Egypt, the company saw robust growth across its snacking portfolio, a 3.5% revenue increase in its Water & Food segment, a 15.9% revenue growth in its Protein & Frozen segment, and a 50.6% revenue increase in its Agri-Business segment. The company has maintained its full-year guidance for 2024.

The document provides a report and interim condensed consolidated financial statements for AGTHIA GROUP PJSC for the three-month period ending on 31 March 2024. The report contains detailed financial information and performance indicators for the said period.

The Agthia Group PJSC Board of Directors plans to hold a virtual meeting on May 15, 2024, at 4:00 PM. The agenda includes approving the reviewed Financial Statements for the period ending March 31, 2024, and the Management Discussion and Analysis Report. They will also discuss other routine matters related to the company's business and its current and future projects. The results of the meeting will be disclosed afterward. A copy of this information has been sent to the Securities and Commodities Authority (SCA) in Abu Dhabi, UAE.