Press releases, Reports & Disclosures for AGTHIA Group

In 2023, Agthia Group PJSC, a leading food and beverage company in the region, reported strong performance that surpassed its guidance ranges. The group's net revenue increased by 12.1% YoY to AED 4.6 billion, ahead of the full-year guidance range of 10-12%. Group EBITDA rose by 21.2% YoY, with the margin at 15.1%, exceeding the guidance range of 40-60bps. The underlying group net profit grew by 25.5% YoY, with a margin of 7.5%, surpassing the guidance range of 30-50bps. The reported group net profit increased by 9.9% YoY, with a margin of 6.6%. The snacking vertical was the top performer with a 38% YoY growth. Agri-business and Water & Food were major contributors to growth, with 19.9% and 6.0% YoY growth respectively. Despite challenges in 2023, the Protein & Frozen segment showcased resilience.

Agthia Group PJSC, a leading food and beverage company in the UAE, has announced two solar energy projects at its Al Ain Water and Al Foah Dates facilities. The projects, developed in partnership with UAE-based solar developer Yellow Door Energy, will reduce CO2 emissions by 124,000 tonnes over 25 years and offset nearly 20% of the factories' annual energy consumption. The initiative aligns with the UAE's Net Zero Target by 2050 and its Clean Energy Strategy. The two solar power plants will have capacities of around 5MWp at each factory. The projects represent a significant step towards reducing Agthia's carbon footprint and integrating renewable energy into its manufacturing processes.

Agthia Group PJSC, a leading food and beverage company in the Middle East, reported a net revenue of AED 3.27 billion during the first nine months of 2023, marking a 10.9% year-on-year (YoY) increase. The company's EBITDA also grew by 18.0% YoY to AED 465 million, while the net profit was up 12.7% YoY to AED 206 million. This growth was driven by strong performances in the Snacking, Agribusiness, and Water & Food segments. Despite currency devaluation in Egypt, the group's net revenue increased by 20.7% when adjusted. The company also saw positive volume growth in the UAE and other international markets, including Saudi Arabia, Kuwait, and Turkey.