ABU DHABI, United Arab Emirates, March 07, 2022 (GLOBE NEWSWIRE) — Agthia Group PJSC, one of many area’s main meals and drinks corporations, right this moment introduced Group web income reached AED 3.07 billion for 2021, equal to 49 p.c year-on-year development, following the consolidation and integration of key acquisitions into the enterprise.
Group web revenue stood at AED 216 million in contrast with AED 34 million within the earlier 12 months, of which AED 83 million of one-off prices have been incurred on account of a strategic assessment of the Firm’s stability sheet.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, stated: “Agthia’s monetary outcomes for 2021 showcased a robust 12 months for the enterprise amid ongoing market volatility and difficult financial headwinds because the world recovers from COVID-19 and faces inflation. Regardless of these challenges, we continued our disciplined and methodical execution of the expansion technique we outlined for Agthia. Our outcomes for 2021 are a testomony to the soundness of our technique and the standard of its execution.”
Alan Smith, Chief Government Officer of Agthia Group, stated: “In 2021 our major focus was the consolidation of our Client Enterprise Division (CBD). Our M&A exercise all through 2021 showcases our ongoing dedication to evolving the enterprise into development accretive client items classes with the acquisition of 4 new entities throughout the Protein and Snacking segments, contributing AED 1.07 billion to gross sales. Our monitor file for price optimization was additionally sustained all year long as we transfer in direction of our goal of AED 200 million productiveness enchancment by 2025.”
The CBD contributed 70% of whole group revenues, a 15% improve in contribution in comparison with 2020. Agri-business division revenues totalled AED 931 million for the 12 months.
- The Protein & Frozen and Snacking segments contributed AED 656 million and AED 540 million respectively to the top-line.
- Water and Beverage, and Different Meals gadgets, recorded revenues of AED 941 million – with bottled water preserving market management for the 12 months, standing respectively at 26% for quantity and 23% in worth shares.
- Income within the Agri-business division was flat versus 2020 which included a one-time World Meals Program order in Q1 2020.
The Group’s whole belongings as of 31st December 2021 reached AED 6.4 billion following the consolidation of latest belongings into the enterprise. Complete shareholders’ fairness stood at AED 2.8 billion for the interval.
Agthia’s Board of Administrators has beneficial an 8.25% money dividend for the second half of 2021, equal to AED 0.0825 per share.
Agthia is a number one Abu Dhabi primarily based meals and beverage firm. Established in 2004, the Firm is listed on the Abu Dhabi Securities Alternate (ADX) and has the image “AGTHIA”. By Senaat, Agthia Group PJSC is a part of ADQ, one of many area’s largest holding corporations with a broad portfolio of main enterprises spanning key sectors of Abu Dhabi’s diversified financial system.
Photographs accompanying this announcement can be found