Almarai Board of Directors approves a strategic plan for the next five years, with investment spending exceeding 18 billion Riyals.

Almarai Board of Directors approves a strategic plan for the next five years, with investment spending exceeding 18 billion Riyals.

Announcement Detail

The board of directors of Almarai has approved the company's strategic plan for the five years ending December 2028, during its meeting on Monday, March 18, 2024. The plan aims to enhance continuous growth, maximize sales, and improve financial performance across multiple segments. The strategic plan focuses on several strategic enablers to support its implementation, such as supply chain capabilities, brand strength, innovation and development, sustainability, operational efficiency, technology, as well as human capital capabilities. The strategic plan includes an investment program exceeding 18 billion Saudi riyals, allocated to multiple strategic pillars and capabilities, some of which have begun to be implemented. Nearly 7 billion riyals will be dedicated to poultry expansion, 5 billion riyals to strengthening existing core product categories (Dairy, Juice, and Bakery), 1 billion riyals to entering promising new food segments, and 4 billion riyals to developing supply chain and sales capabilities to support local and regional expansion plans. Finally, 1 billion riyals will support and accelerate technology development, reflecting the company's commitment to invest in innovation. The strategic plan will be financed from the company's operational cash flows over the next five-year period.