Press releases, Reports & Disclosures for AGTHIA Group

The document is a report and consolidated financial statements of AGTHIA GROUP PJSC for the year ending on 31 December 2023. It provides detailed financial information and performance of the company for the specified year.

Agthia Group, a leading food and beverage company based in Abu Dhabi, has increased its stake in the Egyptian healthy snacks and coffee company Auf Group from 60% to 70%. The additional 10% was sold by Tanmeya Energy B.V., while the Auf family remains as minority shareholders. Agthia initially acquired a 60% stake in Auf Group in November 2021. The acquisition has allowed Agthia to strengthen its position in the Egyptian snacking market and enhance its regional presence as a consumer packaged goods company. The snacking business vertical, formed through the Auf acquisition, is now Agthia's fastest-growing and most profitable segment.

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.