Latest news with #AbuAuf
Zawya
14-05-2025
- Business
- Zawya
Agthia reports $354mln in Q1 net revenue
ABU DHABI: Agthia Group PJSC today announced its financial results for the three-month period ending 31 March 2025. The Group reported AED 1.3 billion in revenue for Q1 2025, reflecting a year-on-year decline of 11.4%, with the quarter lapping the one-time wheat trading activity (AED 120 million), the significant devaluation of the Egyptian currency (EGP) in March 2024, and the carryover of the short-term operational challenges in the dates business. Excluding the impact of EGP devaluation and the wheat trading activity recorded last year, Group revenue would have recorded an increase of 5.2% year-on-year. Group EBITDA declined 20.2% year-on-year to AED 185.7 million, with a margin of 14.5%, reflecting ongoing pressures in specific categories. Net Profit for the quarter stood at AED 86.1 million, with a margin of 6.7%. Profitability was also impacted by the implementation of the Pillar II corporate tax in the UAE, which raised the Group's effective tax rate to 19.3%, up from 13.5% in the same period last year. During the quarter, Agthia increased its stake in Abu Auf from 70% to 80%, deepening integration within the Snacking segment and underscoring the Group's strong belief in its long-term growth potential. The move reflects Agthia's continued focus on scaling high-opportunity categories aligned with evolving consumer trends. In parallel, the Group's Board approved the acquisition of Riviere, a leading bottled water HOS player in the UAE, further expanding Agthia's direct-to-consumer footprint and strengthening its leadership in the Water category. Agthia ended the quarter with a Net Debt-to-EBITDA ratio of 2.4x and AED 321 million in cash and equivalents – maintaining a strong financial position that supports continued investment in strategic priorities and growth opportunities.
Zawya
27-02-2025
- Business
- Zawya
Agthia's growth story continues in 2024, fueled by innovation and market leadership
Group EBITDA Declines 1.5% YoY to AED 679 million Group Net Profit Increases 7.4% YoY to AED 322 million Board Recommends 19.0% YoY Increase in FullYear Dividends to AED 175 million (Subject to AGM Approval) Abu Dhabi, UAE – Agthia Group PJSC ('Agthia' or 'the Group'), one of the region's leading food and beverage companies, today announced its audited financial results for the fiscal year ending 31 December 2024. Agthia sustained its growth momentum in 2024, with strong topline expansion across Snacking, Agri-Business, and Water & Food. While operational challenges in the dates business impacted short-term performance, the Group's fundamentals remain strong, and the company is well-positioned to create long-term value across its diverse businesses and markets. Total revenue rose 7.7% to AED 4.9 billion, with underlying growth at 16.7% when adjusted for Egypt's currency devaluation. While EBITDA saw some pressure, strong performances from Abu Auf and core UAE businesses helped offset the impact. Net profit climbed 7.4% to AED 321.8 million, with earnings per share up 7.9%, reinforcing Agthia's resilience in navigating macroeconomic pressures while delivering shareholder value. Water & Food revenue grew 7.4%, with UAE water up 9.6%. Over the past three years, the segment has consistently expanded, solidifying Al Ain Water's strength as the market leader. A focus on premiumization and innovation further expanded the segment's EBITDA margin by 137bps. Agri-Business saw 8.6% growth, strengthening Agthia's leadership in flour and animal feed, supported by efficiency gains and digitalization resulting in an expansion of the segment's EBITDA margin by 327bps. Protein & Frozen upheld market leadership in Jordan and Egypt despite a challenging macro-environment. While revenue declined 1.7% (+20.1% excluding EGP devaluation), strategic pricing and efficiencies resulted in EBITDA margin growing by 65bps. Expansion initiatives gained momentum with the launch of an IQF strawberry line in Egypt, supporting Agthia's Egypt export strategy, and the Saudi protein facility, which is ramping up capacity to strengthen Agthia's foothold in the GCC's largest market. Snacking led growth, with revenue up 14.7%, driven by Abu Auf's strong 33.3% increase and fueled by product innovation and 59 new store openings. The dates business grew 11%, but operational setbacks resulted in an oversupply position leading to margin dilution, increased customer exposure risk, and an inventory write-down that impacted the segment's overall profitability. While some residual effects are expected in the first half of 2025, Agthia Group is taking proactive measures to restore profitability and drive long-term growth. Agthia continued to strengthen Egypt's role as a key export hub, with export revenue surging 52% year-on-year to AED 105.3 million in 2024 supported by the new IQF strawberry line. Despite currency challenges, Agthia's Egyptian businesses combined grew 8.1% (in AED terms) led by Abu Auf's rapid retail expansion and product innovation, further demonstrating the strength of its diversified portfolio. With product innovation contributing AED 159 million to Agthia's 2024 revenue growth, the Central Innovation Team continues to enhance collaboration across business units, R&D, and external partners. Abu Auf expanded its coffee portfolio and introduced a diverse range of new snacks, while Nabil launched premium burgers and a frozen potato range. In Agri-Business, the introduction of specialty flour products and the Agrivita Dairy Premix addressed evolving customer needs, reinforcing Agthia's commitment to product excellence and market-driven innovation. Agthia continued to enhance customer experience and operational efficiency through its digital roadmap. In 2024, the Group launched a B2B Customer Portal, expanded e-commerce across leading regional platforms, and improved its Home & Office Services app, driving a 55% surge in e-commerce revenue, now representing 5.4% of total revenue (excluding wheat trading). AI-powered solutions, including Microsoft Copilot for customer service and a proprietary Dates AI Recognition Model, developed in collaboration with MBZUAI and Contango/Next50, streamlined operations and optimized Agthia's value chain. Additionally, AI-driven safety technology was introduced across multiple facilities, reinforcing Agthia's commitment to employee safety and digital excellence. Agthia continued to advance its sustainability leadership in 2024, achieving a 6.3% reduction in CO2 emissions. Additionally, sustainability-driven cost optimization initiatives delivered total savings of AED 8.97 million, including AED 3.3 million in savings from reduction in packaging. Agthia remains at the forefront of circular economy practices, with its commitment to environmental responsibility recognized with Gold at the Gulf Sustainability Awards for Best Sustainable Product, and Bronze for Best Circular Economy Practice for its recycled PET (polyethylene terephthalate) water bottles. Further strengthening its environmental agenda, the Group joined the UAE Alliance for Climate Action (UACA) and signed an agreement with Emirates Nature-WWF to drive long-term sustainability initiatives. Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, commented: 'Agthia's growth strategy remains strong, underpinned by solid fundamentals and a clear vision for long-term value creation. Despite macroeconomic challenges and short-term setbacks in the dates business, we continue to execute with discipline, leveraging our diversified portfolio, operational resilience, and commitment to innovation to drive sustainable growth. We have proposed an increase in dividends, reaffirming our commitment to delivering on our fundamentals and reinforcing confidence in our long-term strategy and vision. As the UAE strengthens its position as a global economic hub, Agthia remains aligned with the nation's ambitions, reinforcing its leadership across the region and beyond.' Alan Smith, Group Chief Executive Officer of Agthia Group, added: 'Agthia's investments in innovation and digitalization are paying off, helping us sharpen execution and strengthen our core businesses. Our businesses have delivered strong results and retained their market leadership. While the dates business faced operational setbacks, we are taking proactive steps to address these challenges and improve overall performance. Our growth story is a testament to the hard work, agility, and growth mindset of our employees, whose dedication drives our ability to adapt, innovate, and lead in a dynamic market. As we approach the final year of our 2025 strategy, we remain focused on building on this momentum, ensuring we stay ahead of evolving market needs while reinforcing Agthia's position as an industry leader.' With a robust financial position, strong cash reserves, and a Net Debt-to-EBITDA ratio of 1.5x, Agthia remains well-positioned for sustainable growth and strategic expansion. Agthia's Board of Directors has proposed a full-year cash dividend of 21.03 fils per share, totaling AED 175 million, a 19.0% increase from 2023. This includes a second-half dividend of 10.72 fils per share, pending AGM approval, in line with the Group's semi-annual dividend policy. An interim dividend of 10.31 fils per share (AED 85.7 million) was already paid for the first half of the year. The Group's preliminary results are available on the Group's website and at About Agthia Agthia Group PJSC is a leading Abu Dhabi-based food and beverage company. Established in 2004, the Company is listed on the Abu Dhabi Securities Exchange (ADX) and has the symbol 'AGTHIA'. Agthia Group PJSC is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy. The Group's assets are located in the UAE, Saudi Arabia, Kuwait, Oman, Egypt, Turkey, and Jordan. Agthia offers a world-class portfolio of integrated businesses providing high-quality and trusted food and beverage products for consumers across the UAE, GCC, Turkey, the wider Middle East, South America and Asia. More than 12,000 employees are engaged in the manufacturing, distribution, and marketing of various products in categories such as Water & Food (Al Ain Water, Al Bayan, Alpin Natural Spring Water, VOSS, Al Ain Food & Trading Items); Snacking (Al Foah, Al Faysal Bakery & Sweets, BMB, Abu Auf); Protein and Frozen (Nabil Foods, Atyab, Al Ain Frozen Vegetables); and Agri-Business (Grand Mills, Agrivita).
CairoScene
24-02-2025
- Business
- CairoScene
UAE's Agthia Group Increases Stake in Egypt's Abu Auf to 80%
This move follows Agthia's initial 60% acquisition in 2022 and a 10% increase in 2024. Feb 24, 2025 Agthia Group, a UAE-based food and beverage company, has increased its stake in Egyptian healthy snacks and coffee brand Abu Auf to 80%. This move follows Agthia's initial 60% acquisition in 2022, and a 10% increase in 2024. Despite economic challenges and currency devaluation in Egypt, Abu Auf has demonstrated resilience, reporting a 33% year-on-year revenue increase in 2024 (in AED) and a 70% rise in earnings before interest, taxes, depreciation and amortisation (EBITDA). The company has also expanded its footprint with over 100 new store openings in the past two years. While Agthia strengthens its ownership, the Auf family will continue leading daily operations, ensuring a focus on innovation, operational efficiency, and premium product offerings.
Egypt Today
23-02-2025
- Business
- Egypt Today
UAE's Agthia Group purchases additional stake in Abu Auf
Cairo – February 23, 2025: UAE's Agthia Group has raised its stake in Abu Auf, the prominent Egyptian brand known for its healthy snacks and coffee, to 80%. This comes after the company acquired an additional 10% interest, reinforcing its strategic partnership with the brand and its focus on growth in high-potential markets. The Auf family will continue to lead the company's operations, maintaining a strong focus on innovation, operational excellence, and adaptability as key drivers of its success. Agthia initially acquired a 60 percent stake in Abu Auf in 2022 and further enhanced its investment with a 10 percent increase in February 2024. Together, the two companies have achieved significant accomplishments, including the opening of over 100 new stores in the past two years and a 70 percent growth in EBITDA (measured in AED). In 2024, despite the challenges posed by the devaluation of the Egyptian pound, Abu Auf saw a 33 percent growth in revenue year-over-year in AED, reflecting the resilience and value of this strategic alliance. Ahmed Auf, CEO of Abu Auf Group, highlighted the importance of Agthia's support in accelerating growth, saying, 'Abu Auf is a proud Egyptian brand that not only offers a diverse range of premium coffee and quality food products but also thrives on agility and seizing new growth opportunities. With Agthia's expertise and scale, we are accelerating our expansion while remaining focused on innovation and exploring new horizons.' Agthia's CEO, Alan Smith, emphasized the importance of the partnership, stating, 'Abu Auf represents a combination of entrepreneurial drive, operational excellence, and a strong growth-oriented mindset. This latest investment is a testament to our confidence in their future and our shared vision of bringing their innovative products to even more consumers across Egypt and beyond.'
CairoScene
21-02-2025
- Entertainment
- CairoScene
Where to Find the Best Dates in Egypt
Because bad dates belong in your past, not on your plate. We dropped our last guide, minding our own business, when Egypt's Linah Farms slid into the comments like, 'We're waiting for the dates guide!' And when you ask, we deliver. We take our dates seriously—the kind you eat and the kind that involve questionable texting decisions at 2 AM. And honestly, this couldn't have come at a better time. Ramadan is right around the corner, and we all know what that means: time to stock up on the good stuff. Whether you're prepping for iftar, elevating your snack game while watching Ramez's latest antics, or showing up to a gathering looking like the ultimate gift-giving legend, dates are the non-negotiable MVP of the season. So, we did the work and rounded up the finest, juiciest, most luxurious dates in Egypt. Whether you like them plain, stuffed, or coated in layers of chocolate and nuts, this list ensures you never settle for anything less than perfection. Now, let's get into it—because good dates (the edible kind) wait for no one. Linah Farms 📍 Delivers all over Egypt Bringing premium Egyptian dates straight from the source, Linah Farms ensures every bite is fresh and flavorful. Whether you're a Medjool purist or prefer your dates stuffed, fancy, or even smashed, Linah Farms guarantees top-tier goodness. Bateel 📍 Arkan Plaza, Sheikh Zayed & Online Bateel doesn't just sell dates; they sell an entire luxury experience. Chocolate-dipped, caramel-stuffed, nut-infused—you name it, they've mastered it. If you're looking to impress or just feel like treating yourself (which you should), Bateel is the obvious choice. Abu Auf 📍 Branches all over Egypt Reliable, accessible, and always there when you need them, Abu Auf is the dates plug we all grew up with. Bonus: They have boxes with both dates and yamish, because sometimes, variety is the only right answer. Alyaa Dates 📍 Delivers all over Egypt Alyaa Dates understands the assignment: premium dates? Check. Carefully curated fillings? Double check. Aesthetic packaging that makes the perfect thoughtful gift? Triple check. Januba Dates 📍 Delivers all over Egypt Januba sources its dates straight from Nubia, ensuring authentic quality in every bite. But they don't stop there—they elevate traditional dates with indulgent toppings like Lotus, pistachio, chocolate, and white chocolate. If you're looking for something beyond the basics, Januba is the answer. El Abd 📍 Branches all over Egypt Known for its iconic Egyptian desserts, El Abd's date selection deserves just as much attention. If you're feeling indulgent, their dates will make you forget every bad decision you've ever made. Phillippe Pittas 📍 Branches all over Alexandria Alexandrians, this one's for you. Phillippe Pittas is the go-to spot for top-tier dates in the coastal city. If you're serious about finding the best, consider this your sign to pay them a visit (or five). TAMRTNA 📍 In select stores & delivers all over Egypt TAMRTNA is that low-key spot that people in the know won't stop raving about. Their dates are handcrafted to perfection, with flavors so good they'll ruin regular dates for you forever. Proceed with caution.
