AGTHIA Group

Agthia Group PJSC, located in Abu Dhabi, UAE, has issued an invitation for its General Assembly Meeting. The invitation includes the meeting's agenda and clarifying disclosures. The communication is addressed to the Disclosure and Compliance Section and the Market Operations Department of the Abu Dhabi Securities Exchange. The document is signed by Mehreen Mahmood Awan, the Company Secretary, and a copy has been sent to the Securities and Commodities Authority (SCA) in Abu Dhabi.

Agthia Group PJSC reported a 14.7% year-on-year (YoY) increase in net revenue, reaching AED 2.5 billion, and a 31.8% YoY rise in group net profit for the first half of 2024. The company achieved strong revenue growth across all segments and significant profitability expansion, maintaining its full-year guidance. Key financial highlights include a 19.9% YoY increase in Group EBITDA and a 25% increase in interim cash dividends to 10.31 fils per share, pending AGM approval. Segment-specific performance included notable growth in snacking, protein and frozen foods, water and food, and agri-business, with significant contributions from innovation and market expansion despite the impact of currency devaluation in Egypt.

Agthia Group PJSC reported a 14.7% year-on-year increase in net revenue to AED 2.5 billion and a 31.8% year-on-year growth in net profit for the first half of 2024. The group saw significant growth across all four business segments, leading to an increase in both EBITDA and net profit margins. Agthia maintained its full-year guidance and announced a 25% increase in interim cash dividends. Key highlights include a 19.5% revenue increase in the snacking segment, a 7.2% rise in the protein and frozen segment, a 4.0% growth in water and food, and a 25.4% increase in the agri-business segment. Despite currency devaluation impacts in Egypt, the company achieved strong performance and continued innovation across its product portfolio.

The document is a review report and interim condensed consolidated financial statements for Agthia Group PJSC, covering the six-month period that ended on June 30, 2024. The report is unaudited.

Agthia Group PJSC held a Board of Directors meeting on August 6, 2024, via virtual conference at 4:00 PM. During the meeting, the Board approved the reviewed financial statements for the period ending June 30, 2024, along with the Management Discussion & Analysis Report. Additionally, the Board approved the recommendation to distribute interim (semiannual) dividends of 31.10 fils per share, totaling AED 85.7 million, to the company's shareholders.

Agthia Group PJSC has announced that its Board of Directors will hold a virtual meeting on Tuesday, August 6, 2024, at 4:00 PM. The agenda includes approving the reviewed financial statements for the period ending June 30, 2024, discussing the recommendation of distributing interim (semiannual) dividends to shareholders, and addressing other routine business matters. The results of the meeting will be disclosed afterwards. The announcement was made by Mehreen Mahmood Awan, the Company Secretary, and a copy has been sent to the Securities and Commodities Authority in Abu Dhabi, UAE.

Agthia Group PJSC, a leading food and beverage company in the MENA region, has opened a new state-of-the-art protein manufacturing facility in Jeddah Industrial City 1, Saudi Arabia, with an investment of AED 90 million. The facility spans over 9000 square meters and has an annual production capacity of over 9000 tons. It features two production lines capable of manufacturing more than 50 distinct SKUs and is supported by a diverse supply chain of over 69 raw materials. The facility includes in-house microbiology and sensory evaluation laboratories and is accredited by the Saudi Food & Drug Authority and certified by the BRCGS Global Food Safety Standard. This investment aligns with Saudi Vision 2030 and Agthia's strategy to become a leader in the F&B sector by 2025. The facility aims to meet the growing demand for protein products in the GCC region, enhance market presence, and contribute to the diversification and growth of Agthia's regional product portfolio.

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.