Egypt: Edita Food Industries reports record-breaking revenues of $317mln in FY2024
Edita Food Industries S.A.E. has announced a milestone year, with revenues soaring 33.2% year-on-year (y-o-y) to reach EGP 16.1 billion in 2024. The company's strategic diversification, successful pricing strategies, and regional expansion efforts have played a pivotal role in its impressive financial performance.
Edita's net profit climbed to EGP 1.4 billion, bolstered by a surge in revenues across all product segments. The cake segment, which remains the company's primary revenue driver, grew 37.1% y-o-y, contributing to more than 50% of total revenues. Meanwhile, smaller product segments saw remarkable expansion, with wafers, biscuits, and candy revenues rising by 60.8%, 144.4%, and 57.6% y-o-y, respectively.
Pricing Strategy Drives Profitability Amid Inflation
Despite inflationary pressures and the impact of the Egyptian pound's devaluation, Edita successfully navigated cost challenges through strategic repricing and commercial initiatives. This resulted in a gross profit of EGP 4.9 billion, reflecting a 25% increase y-o-y. The company maintained a gross profit margin (GPM) of 30.4% for the year, with a notable improvement in the fourth quarter, where GPM reached 30.9%.
Expanding Regional Presence: Morocco and Iraq Take Center Stage
Edita's regional expansion efforts yielded significant results in 2024, with net export sales rising 42.1% y-o-y to EGP 1.6 billion. Edita Morocco played a crucial role in this growth, recording EGP 475.6 million in revenues, up 45.8% y-o-y, as its second production line reached higher utilization levels. The company also leveraged Morocco as a strategic hub to enter West African markets, with its first shipment to Mauritania completed in November 2024.
Further strengthening its regional footprint, Edita made a strategic move into the Iraqi market, one of the region's fastest-growing snack food sectors. In January 2025, the company acquired a 49% stake in Tuama Jebur Abbas, a Baghdad-based manufacturer, with plans to commence operations in the second half of the year.
With a diversified portfolio, strong export momentum, and continued regional expansion, Edita is well-positioned for sustained growth in 2025 and beyond.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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