Agthia Q3 revenue grows 20% to AED 954mln underpinned by strong performance from recent acquisitions

Agthia Q3 revenue grows 20% to AED 954mln underpinned by strong performance from recent acquisitions

- Protein & Frozen and Snacking revenues rise 39% and 71% respectively

- Group net profit for the quarter stood at AED 40.5 million, increasing 14% year-on-year

Abu Dhabi, UAE: – Agthia Group PJSC, one of the region’s leading food and beverage companies, today announced net revenue of AED 954 million for Q3 2022, up 20% year-on-year, following the successful consolidation and integration of recent acquisitions.

Group EBITDA increased 23% year-on-year to AED 128 million notwithstanding significant upwards pressure on raw material costs in the period, testament to both strong cost discipline and leveraging synergies across new verticals. Net profit was AED 40.5 million, up 14% on the prior year.

Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: “Agthia’s strong third quarter performance demonstrates management’s proven ability to acquire and consolidate value accretive businesses while leveraging synergies and maintaining a profitable core. In conjunction with its clear strategic priorities, growing capabilities, and strong executive team, I am confident that Agthia will continue to deliver value for all stakeholders in both the near and longer-term as it continues its transformative journey to a leading food and beverage company in the MENAP region and beyond.”

Alan Smith, Chief Executive Officer of Agthia Group, said: “Despite a