Press releases, Reports & Disclosures for AGTHIA Group

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.

The document is a report and interim condensed consolidated financial statement by AGTHIA GROUP PJSC. It covers the financial performance and status of the company for the nine-month period ending on 30th September 2023. The report includes details of the company's financial activities, investments, revenue, and expenditures during this period.

Agthia Group PJSC, a leading food and beverage company in the UAE, has signed a Memorandum of Understanding (MoU) with Microsoft UAE to accelerate its digital transformation. The partnership will leverage Microsoft's AI tools to enhance customer experience, identify growth opportunities, and revolutionize various aspects of the business, including customer service, production, procurement, and employee engagement. The agreement also includes implementing AI technologies in Agthia's Water Home Delivery Contact Center, establishing smart digital stores with MS Dynamics Retail and POS solutions, and deploying Microsoft Viva to improve employee experience and engagement. The company aims to become a regional digital leader in the consumer-packaged goods industry.