Agthia-GroupAgthia-Group - picture from milling middle east

Food & Climate

Agthia Group reduced CO2 emissions by 7.6% in the first half of 2024, year-on-year.

Emirates company have also begun various trials to study the potential inclusion of electric trucks and other vehicles, where feasible, to further reduce CO2 emissions across a broader spectrum of its operations.

 Additionally, in Q2 2024, Agthia commissioned the ALPIN Turkey Solar Energy Plant, which consists of 1,088 solar panels with a total capacity of 850.45 kW per hour. This initiative aims to further increase the use of renewable energy as part of the Group’s total energy mix, according to a press release “Food & Climate” platform received today.

The Group, one of the region’s leading food and beverage companies, announced its results for the six-month period ending 30 June 2024.

The Group’s profitable growth across all four segments, combined with leveraging group-wide efficiencies, resulted in both Group EBITDA and Group net profit growing faster than revenue.

Group net revenue increased 14.7% year-on-year to AED 2.5 billion (11.2% growth from volume and 3.5% from pricing). Excluding AED 120 million one-off wheat trading sales in Agri-Business recorded in Q1 2024, the year-on-year net revenue growth was 9.3%. This was primarily driven by a continued shift of the Group’s product portfolio towards higher growth segments in key target markets, along with innovations. Notably, 45% of Agthia’s growth in H1 2024 came from innovation alone (excluding one-off in Q1 2024). Group revenue, adjusted for the impact of currency devaluation in Egypt (AED -144.5 million), increased by 21.3% year-on-year. Despite the FX impact, Agthia’s Egyptian businesses combined delivered 20.3% year-on-year revenue growth in AED terms during the reporting period.

Agthia launched the new Al Ain water home delivery application with new payment options and an improvement in the end-to-end customer experience. The Group also started rollout activities of a new point of sale across over 200 Abu Auf stores in Egypt and continued the rollout of Sales Force Automation across its Egyptian operations.

Khalifa Sultan Al Suwaidi, Chairman of Group, commented: “This quarter’s results underscore our resilience and strategic focus on driving sustainable value across our diverse portfolio. Going forward, we are well-positioned to seize opportunities in the MENA region and beyond, leveraging our strengths in innovation, digitalization, and operational excellence”.