Agthia Group eyeing $1.63bn annual revenue by 2025 amid Saudi expansion: CEO

Agthia Group eyeing $1.63bn annual revenue by 2025 amid Saudi expansion: CEO

RIYADH: Agthia Group PJSC, one of the leading food and beverage companies in the Middle East and North Africa region, is eyeing a 50 percent annual revenue increase by 2025 through expansion and acquisitions, a top official said.

In an exclusive interview with Arab News, Alan Smith, CEO of the Abu Dhabi-based company, said that purchases have played a crucial role in elevating Agthia Group’s net revenue growth to 4.07 billion dirhams ($1.11 billion) in 2022, a 33 percent rise compared to 2021.

With eyes on further growth, the company now wants to see an annual revenue of 6 billion dirhams by 2025.

“If you go back to 2020, we basically doubled our business in two years from 2 billion dirhams to 4 billion dirhams. I think, interestingly, during that time, we completed six acquisitions as well, which has been a big part of our growth strategy. If we look at the growth in 2022, then a significant proportion of that growth came from our acquisitions,” said Smith.

In 2022, Agthia Group’s net profit also rose 14 percent to 247 million dirhams, while the total assets of the firm stood at 6.8 billion dirhams as of December 31, 2022.

The Agthia Group