GHITHA HOLDING P.J.S.C.

The text refers to the interim condensed consolidated financial statements for Ghitha Holding PJSC, covering the three-month period ending on 31 March 2024.

Ghitha Holding PJSC, a subsidiary of the International Holding Company, has announced a strategic expansion with the acquisition of a 44% stake in MNG Airlines for USD 211.20 million. The acquisition is expected to strengthen Ghitha's logistics and aviation capabilities and solidify its leadership in the regional food trading sector. The deal aligns with Ghitha's goal to become the largest company in the regional food trading sector. The transaction is subject to regulatory approvals and is expected to be completed in the first half of 2024.

The text refers to the Directors' Report and Consolidated Financial Statements of Ghitha Holding PJSC as of 31st December 2023.

Ghitha Holding PJSC, a subsidiary of the International Holding Company, reported a 100% increase in revenue in 2023, amounting to AED 4.6 billion. This growth is attributed to strategic acquisitions and expansion across various sectors and locations. The company's operational profit also grew by 64% YoY to AED 99 million, while EBITDA increased by 22% YoY to AED 79 million. Total assets rose by 32% YoY to AED 7.1 billion. The company's CEO, Mr. Falal Ameen, attributes this success to a clear vision and dedication to rapid growth. Looking ahead, Ghitha plans to continue its growth and innovation, with a focus on strategic acquisitions, supply chain efficiency, and focused marketing efforts.

The Ghitha Holding PJSC sent a letter to the Disclosure and Compliance Section of the Market Operations Surveillance Department at the Abu Dhabi Securities Exchange. The letter, dated 20/11/2023, announces that the company's Board of Directors will be passing a resolution by circulation on 23rd November 2023 at 3:30 pm. The resolution concerns the appointment of the Chairman and Vice-Chairman for the upcoming term, the appointment of Board committees, and other unspecified matters.

Ghitha Holding PJSC, a food and drink processing corporation based in Abu Dhabi, has reported strong Q3 results for 2023. The company's revenue reached AED 3.3 billion, marking a 120% growth YoY. The EBITDA also grew by AED 174 million YoY, excluding fair value changes in investments. Ghitha's total assets have also grown by 33% from the previous year, reaching AED 7.2 billion. The company attributes its success to the robust performance in the regional food processing and convenient food businesses, as well as the expansion of high-potential brands and strategic acquisitions.

The Ministry of Economy has approved the General Assembly Meeting of Ghitha Holding PJSC, scheduled to take place at IHC Office in Abu Dhabi and remotely for shareholders on November 16, 2023 at 3.30 pm. The announcement includes an invitation, agenda, proxy form, and advertisements for the meeting. The attachments also include a disclosure regarding approval of proxies and a special POA form to attend the AGM.