Latest news with #KhalifaSultanAlSuwaidi
Zawya
23-04-2025
- Business
- Zawya
Agthia Group shareholders approve 19.0% increase in full-year dividends at Annual General Meeting
Cairo: Agthia Group PJSC ('Agthia' or 'the Group'), one of the region's leading food and beverage companies, held its Annual General Meeting today. During the meeting, shareholders approved the Group's financial results for the year ending 31 December 2024, as well as all other recommendations by the Board of Directors, including the recommendation to distribute a cash dividend of 21.03 fils per share for the full year 2024, totaling AED 175 million a 19.0% increase compared to 2023. This includes a second-half dividend of 10.72 fils per share, 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, underlining Agthia's commitment to delivering sustained shareholder value. Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: 'The Board's recommendation and subsequent approval of a 19% year-on-year increase in full-year dividends reflects our ongoing commitment to creating sustainable, long-term value to our shareholders. Our progressive dividend policy remains a key pillar of shareholder engagement, underscoring our confidence in the Group's strategic direction and operational strength. As we continue to pursue growth across regional and international markets, we remain firmly focused on unlocking further value in the years to come to all our stakeholders.' Agthia Group recently reported a solid fiscal performance in the financial year 2024, with Group net revenue growing over 7.7% year-on-year to reach AED 4.9 billion. While Group EBITDA declined 1.5% year-on-year to AED 679 million, reflecting pressures in parts of the business, strong performances from Abu Auf and core UAE businesses helped partially offset the impact. Group's Reported Net Profit climbed 7.4% to AED 321.8 million, with earnings per share up 7.9%, reinforcing Agthia's resilience in navigating complex operating environment while delivering shareholder value and remaining well-positioned for sustainable growth and strategic expansion. 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).
Zawya
23-04-2025
- Business
- Zawya
Agthia Group shareholders approve 19% increase in full-year dividends
ABU DHABI - Agthia Group has announced that shareholders approved the Group's financial results for the year ending 31st December 2024, and all other recommendations by the Board of Directors, including the recommendation to distribute a cash dividend of 21.03 fils per share for the full year 2024, totalling AED175 million — a 19 percent increase compared to 2023. This includes a second-half dividend of 10.72 fils per share, in line with the Group's semi-annual dividend policy. An interim dividend of 10.31 fils per share (AED85.7 million) was already paid for the first half of the year, underlining Agthia's commitment to delivering sustained shareholder value. Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said, 'The Board's recommendation and subsequent approval of a 19 percent year-on-year increase in full-year dividends reflects our ongoing commitment to creating sustainable, long-term value to our shareholders. Our progressive dividend policy remains a key pillar of shareholder engagement, underscoring our confidence in the Group's strategic direction and operational strength.'
Zawya
13-02-2025
- Business
- Zawya
Agthia Group's profits surge in 2024; Egyptian operations expand despite EGP devaluation
Abu Dhabi: Agthia Group achieved net profits worth AED 321.83 million in 2024, an annual growth of 7.40% from AED 299.57 million, as per the unaudited income results. Net revenues increased by 7.70% year-on-year (YoY) to AED 4.91 billion at the end of December 2024, backed by strong performance in the snacking, agri-business, as well as water and food segments. Earnings per share (EPS) climbed to AED 0.35 last year from AED 0.33 in 2023. Agthia's Egyptian businesses delivered 8.10% YoY revenue growth in AED terms, despite absorbing a negative impact of the EGP devaluation. The dates business recorded an 11% growth in revenue. However, operational headwinds 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. The group indicated that some residual effects are expected to take place in the first half (H1) of 2025, adding that these setbacks are short-term and confined to the current crop season. Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: "While certain operational setbacks affected our performance this year, we are taking clear steps to address these areas and drive efficiencies.' 'With a focused approach, we are reinforcing our foundations and positioning the group for long-term value creation, reaffirming our commitment to stakeholders, and solidifying Agthia's leadership across the MENA region and beyond,' Al Suwaidi added. Alan Smith, CEO of Agthia Group, highlighted: "While the dates business experienced operational headwinds, we have taken decisive measures to address these challenges.' 'In the broader context, the strength of Agthia's diversified portfolio continues to be demonstrated in our results, with strong contributions from the Water & Food and Agri-Business segments and our Egyptian platform,' Smith noted. At the end of September 2024, Agthia Group recorded higher net profits at AED 254.93 million, compared to AED 205.55 million in the year-ago period.
