Latest news with #Riviere
Zawya
4 days ago
- Business
- Zawya
Agthia delivers resilient underlying Q2 results
Abu Dhabi, UAE: Agthia Group PJSC (AGTHIA:UH; or the 'Group') today announced its financial results for the second quarter and first half of 2025, underscoring continued progress on strengthening its core, streamlining operations, and building the foundation for sustainable value creation. Reflecting Agthia's disciplined approach to capital allocation and focus on sustainable value creation, the Board of Directors has recommended an interim cash dividend of 10.31 fils per share for H1 2025, subject to shareholder approval at the next general assembly meeting. This decision highlights the Board of Directors' confidence in the underlying business performance. Agthia reported Q2 2025 revenue of AED 1.14 billion, up 5.9% year-on-year. First-half Group revenue reached AED 2.42 billion, with Underlying EBITDA at AED 280.1 million and Underlying Net Profit at AED 96.3 million. Profitability was impacted by the ongoing repositioning of the dates business, softness in the Protein & Frozen segment, and higher input costs for cocoa and coffee. Agthia continued to demonstrate solid performance in Q2 2025. The Water & Food segment recorded its thirteenth consecutive quarter of revenue growth, with H1 revenues up 15.3% year-on-year, driven by strong consumer demand, robust brand equity, and the integration of Riviere Mineral Water Desalination & Filling Factory LLC ('Riviere'). Agri-Business delivered its eighth consecutive quarter of EBITDA growth, with margins expanding to 17.6% during Q2 2025, supported by strong feed and flour volumes and disciplined execution. The Snacking segment maintained topline momentum, growing 5.0% year-on-year in Q2, led by Abu Auf's strong performance in Egypt. The Protein & Frozen segment posted softer revenues, impacted mainly by a slower performance in Egypt. Profitability was affected by input cost pressures and the ongoing scale-up of the new Saudi facility. Agthia continued to advance its innovation, digital, and ESG priorities as part of its long-term value creation strategy. Innovation contributed AED 83.3 million to Group growth in H1 2025, supported by notable launches across segments. On the digital front, platform enhancements improved customer experience and drove stronger e-commerce performance. As part of its ongoing commitment to ESG, Agthia was named Sustainable Brand Owner of the Year 2025 in recognition of its leadership in recyclable packaging and continued community engagement through initiatives like the 'Million Pieces of Bread' campaign. Salmeen Alameri, Managing Director and Chief Executive Officer of Agthia Group, commented: 'Our first-half results reflect the continued strength of the Water & Food and Agri-Business, extending their multi-quarter growth trajectories – which are clear indicators of our operational resilience and execution strength. While we have been experiencing pressures in select segments, we are taking targeted initiatives to enhance Agthia's competitive foundation, reinforcing a more agile, disciplined, and future-ready organization that is well-positioned to deliver sustainable value to stakeholders.' The Group remains committed to its strategy, supported by a resilient and diversified portfolio, operational discipline, and a clear commitment to sustainable value creation. The financial results are available at and on the Abu Dhabi Securities Exchange (
Business Times
01-07-2025
- Business
- Business Times
Frasers Property, Sekisui House launch The Robertson Opus with prices from S$3,150 psf
[SINGAPORE] Property developers Frasers Property and Sekisui House opened The Robertson Opus along Unity Street for a private preview on Wednesday (Jul 2), with public previews beginning this weekend. Prices will start from S$3,150 per square foot (psf). Located at Robertson Quay in District 9, the 999-year mixed-use development comprises 348 homes across five blocks of up to 10 floors. One block consists of just studios and one-bedroom units – primarily for investors looking to rent and others who wish to rightsize their homes, said Kevin Siew, managing director for development management at Frasers Property Singapore, during a media tour on Monday. The other four blocks will see a mix of two, three and four-bedroom units. Prices will start at S$1.37 million for a studio of 431 square feet (sq ft), and S$1.58 million for a one-bedder of 495 sq ft. Two-bedders, sized 689 to 743 sq ft, are priced from S$2.17 million, and three-bedders, sized 926 to 1,152 sq ft, from S$3.1 million. Four-bedders span 1,539 sq ft, with prices starting at S$5.09 million. The project also includes a retail podium with around 26 commercial units on the first floor and basement. It will retain its name Robertson Walk. In total, the entire development spans a land area of 9,102.7 square metres (sq m), with a maximum gross floor area of 30,663.6 sq m and a plot ratio of 3.37. It is a redevelopment of Frasers' serviced residence Fraser Place Robertson Walk and its adjoining commercial area, Robertson Walk – undertaken by Frasers Property and Japanese developer Sekisui House in a 51:49 joint venture. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Siew noted that some tenants that were previously at Robertson Walk have moved to new locations. But, since Frasers' redevelopment will take three to four years, which is the length of most tenancy contracts, it would be 'perfect timing' for the developer to woo back the former tenants, he said. Marketing for the new Robertson Walk will begin in only another two years, given the project's expected completion in 2029. 'We (also) have a very big retail portfolio with around 2,000 leases… as the largest suburban owner-operator of shopping malls (in Singapore),' he added. 'I think that competitive advantage allows us to reach out to a much wider pool of tenants.' First in some time The Robertson Opus will be the first private home launch in the Robertson Quay area since 2019, when Frasers Property's Riviere was marketed. Prices for the 99-year leasehold condominium along Jiak Kim Street started at S$2,580 psf then. Since then, new units have sold at a median price of S$2,822 psf, while sub-sales and resales recorded a median price of S$2,869 psf. The Robertson Opus is also the first 999-year leasehold residential development launched in the neighbourhood in nearly 20 years, and is the only 'essentially freehold' launch this year, noted Siew. The last project with a 999-year tenure launched in its vicinity was the 186-unit The Wharf Residence in 2008. Caveats data showed that the median price of resale transactions in the project was S$2,361 psf in the year so far. Most recently, in late April, a 1,539 sq ft unit changed hands for S$3.68 million or S$2,388 psf. Four new 99-year leasehold projects will be coming up on state land sites tendered in the River Valley Green and Zion Road area. Two of these – Promenade Peak and River Green – are expected to be marketed in the current quarter, while a third, Zyon Grand, could be launched around October. Siew said freehold projects in the prime Core Central Region (CCR) are currently undervalued, with the price gap between the CCR and city fringe narrowing significantly in the past few years. According to statistics from ERA Research, the price difference between newly sold non-landed homes in the CCR and Rest of Central Region (RCR) was just S$59 psf in the first half of 2025. In comparison, the price gap was S$559 in 2024, S$458 psf in 2023, S$569 psf in 2022, and S$682 psf in 2021. Also, the price index of non-landed homes in the CCR has risen 17.9 per cent since 2019, versus the more than 50 per cent increase in both the RCR and Outside Central Region. Siew noted that it is therefore the 'right time' to launch The Robertson Opus, instead of holding it back any further or launching it any earlier. The property, being part of Frasers' land bank, also gives the developer the opportunity to time the market as such. 'We very much intend for (The Robertson Opus) to be the best-selling project in the CCR this year,' he added. Public previews for The Robertson Opus will begin on Jul 5, with sales booking commencing on Jul 19. The project is expected to receive its temporary occupation permit in the first half of 2029, and its expected vacant possession date on Jun 30, 2030.
Zawya
18-05-2025
- Business
- Zawya
Alan Smith, Chief Executive Officer of Agthia Group, shares insights
Alan Smith, Chief Executive Officer of Agthia Group, shares insights, highlighting the group's financial performance for the first quarter of 2025. Agthia Group PJSC - one of the region's leading food and beverage companies, today announced a resilient first-quarter performance, with underlying Group revenue growing by 5.2% year-on-year when excluding the impact of non-recurring factors such as last year's one-off wheat trading activity and the devaluation of the Egyptian pound. This underlying growth highlights the strength and resilience of Agthia's core business amidst a dynamic operating environment. Despite short-term pressure, Agthia continues to invest in its future allocating AED 25.1 million to capex and AED 129.2 million to increase its stake in Abu Auf raising its share from 70% to 80%, deepening vertical integration in the snacking segment. In May 2025, Agthia strengthened its leadership in the UAE water market through the strategic acquisition of Riviere, a prominent player in home water delivery segment. This milestone move significantly expands our household customer base tripling our reach and deepens our market penetration in a key growth category. said Smith. In this regard, Alan Smith, Chief Executive Officer of Agthia Group, stated: 'we continue to see strong performance across key verticals. BMB delivered a solid 8.4% growth in revenue, driven by rising exports to the United States and continued consumer demand for its premium snack portfolio. Abu Auf also maintained its growth trajectory, recording a 4.3% revenue increase in AED terms; however, the devaluation of the Egyptian Pound significantly impacted the reported figure, which in local currency terms stood at a notable 48.9%. Excluding the one-off wheat trading activity in Q1 2024, our Agri-Business delivered a solid underlying performance, achieving revenue growth of 2.9%. The Water and Food segment remained a core contributor, growing 10.6% year-on-year. Within the UAE, water revenues increased by 6.1%, while our international water portfolio showed strong momentum particularly in Turkey, which grew by 9.9%, and Saudi Arabia, where we achieved 4.8% growth. Meanwhile, the Protein segment saw a 15.7% decline in revenue due to continued pressure in the Egyptian market and a temporary slowdown in export sales from Nabil in Jordan. This was partially offset by the growth coming from our new protein facility in Saudi Arabia, which commenced operations in July 2024. Our combined operations, comprising Nabil export from Jordan and our new facility in KSA, delivered a robust 17.2% sales growth within the Kingdom, underscoring the strategic importance of our expansion in this key regional market.' And commenting on how the US tarrifs would affect Agthia's operation Smith said: While Agthia's direct exposure to the U.S. market remains limited accounting for approximately 1% of our total revenue ongoing trade protectionist measures, particularly tariffs on essential commodities, may pose indirect challenges to global supply chains. As a diversified group operating across multiple segments and geographies, we remain vigilant in monitoring global trade dynamics to proactively address and mitigate any potential cost implications. Our sourcing strategy is built on diversification, trusted supplier partnerships, and a strong regional presence, which collectively grant us the flexibility to navigate fluctuations in commodity pricing and availability. In parallel, we continue to optimize procurement processes, manage inventory efficiently, and explore alternative markets to reinforce our supply chain resilience. Despite potential volatility in global trade, our operational agility and cost discipline ensure that we are well-positioned to uphold the value we deliver to both our shareholders and our consumers.
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.
Arabian Business
07-05-2025
- Business
- Arabian Business
Agthia solidifies position as water segment leader with Riviere acquisition
Agthia Group will triple its household customer base after completing 100 per cent acquisition of Riviere Mineral Water Desalination & Filling Factory, one of the UAE's largest players in the bottled water home and office services (HOS) category. Agthia already has a strong portfolio of bottled water brands, including Al Ain Water, Al Bayan, VOSS and Alpin, and the acquisition of Riviere further cements its leadership in the segment. The company will also benefit from the integration of Riviere's substantial operational infrastructure, which includes three bottling facilities across Abu Dhabi and Dubai, a fleet of over 160 delivery trucks, and more than 780 employees. This will immediately enhance manufacturing capabilities, streamline distribution, and strengthen customer service. Alan Smith, Chief Executive Officer of Agthia Group, commented: 'The successful closing of this acquisition marks another milestone in Agthia's journey of strategic growth and market leadership in the water segment. 'Riviere's strong brand, deep customer relationships, and operational excellence perfectly complement our existing capabilities, enabling us to serve a broader customer base and drive long-term sustainable value. We look forward to integrating Riviere into the Agthia family and realising the full potential of this strategic combination.' The acquisition will be immediately earnings accretive and result in an approximately 6.5 per cent increase to Agthia's Water & Food segment revenues. Ali Moideen Kankayel, Co-owner of Riviere, added: 'Riviere has built a legacy of trust, reliability, and customer-first service in the UAE's home and office water market. As we move forward with Agthia, I am confident that this partnership will amplify our impact and open new paths for growth.' Riviere will continue to operate under its established brand, ensuring continuity for customers and maximising brand equity. Established in 2004, the Group is one of the region's leading food and beverage companies headquartered in Abu Dhabi and part of ADQ. It has evolved into a diversified, multi-category F&B leader with a strong regional footprint across the Middle East and Turkey. The group's integrated portfolio includes market-leading brands across four key categories – Water & Food, Snacking, Protein & Frozen and Agri-Business. It has more than 12,000 employees across its operations.
