Agthia Group revenues rise to AED 3 billion in 2021, following launch of Strategic Vision for 2025

Agthia Group PJSC, one of the region’s leading food and beverages companies, today announced the Group’s net revenue reached AED 3.07 billion for 2021, equivalent to 49 percent year-on-year growth compared to the same period last year, following the consolidation and integration of key acquisitions into the business.

The Group’s net profit stood at AED 216 million compared to AED 34 million in the previous year, in which AED 83 million of one-off costs were incurred as a result of a strategic review of the Company’s balance sheet. The substantial improvement to net income was underpinned by the addition of Al Foah, Al Faysal Bakery, Nabil Foods, and Atyab alongside key cost optimization initiatives and pricing that mitigated the impact of higher raw material costs and additional M&A related fees.

Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: "Agthia’s financial results for 2021 showcased a strong year for the business amid ongoing market volatility and challenging economic headwinds as the world recovers from COVID-19 and faces inflation. Despite these challenges, we continued our disciplined and methodical execution of the growth strategy we outlined for Agthia. Our results for 2021 are a testament to the soundness of our strategy and the quality of its execution. The milestones achieved reflect our dedication to the ongoing transformation efforts across all our primary verticals as we build a more efficient organisation that will enhance value creation and improve productivity.”