GHITHA HOLDING P.J.S.C.

Ghitha Holding PJSC reported an 11% year-on-year revenue growth, reaching AED 3.67 billion for the first nine months of 2024. The company's gross profit increased by AED 188 million, a 36% growth from the previous year. EBITDA represents about 10% of revenue, excluding fair value changes in investments. Total assets grew by 33% since December 2023, totaling AED 9.4 billion. Ghitha, based in Abu Dhabi and a subsidiary of International Holding Company, attributes its growth to strategic initiatives such as acquiring key assets, entering new markets, and diversifying product lines. CEO Falal Ameen highlighted the company's strong performance despite market challenges, positioning it for future growth. Moving forward, Ghitha aims to enhance financial performance and operational efficiency, aligning with its vision to become a leading regional food powerhouse, while focusing on process improvement and market adaptability.

Ghitha Holding PJSC has released its interim condensed consolidated financial statements for the nine-month period ending on September 30, 2024.

Ghitha Holding PJSC reported an 18% increase in revenue for the first half of 2024, reaching AED 2.45 billion. The company's gross profit grew by 57% year-over-year to AED 176 million, and EBITDA remained strong at approximately 10% of revenue. Total assets increased by 33% since December 2023, amounting to AED 9.4 billion. The company also signed an agreement to acquire Marmum Dairy Farm, which is expected to strengthen its market position and enhance its presence in the dairy industry. Group CEO Falal Ameen attributed the company's performance to its strategy of acquiring strategic assets, market penetration, organic growth, and product diversification, despite challenges such as supply chain disruptions and commodity price volatility.

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.