Agthia Group announces 2021 preliminary results

Agthia Group announces 2021 preliminary results

Abu Dhabi, UAE – Agthia Group PJSC, one of the region’s leading food and beverages companies, today announced preliminary and unaudited results for the fiscal year ending 31 December 2021. The Group posted AED 216 million in net profit, as well as net revenues of over AED 3 billion. Agthia grew its revenues by 49% year-on-year following strong growth in the Protein and Snacking segments through a series of acquisitions that have since been consolidated under the Group’s brand portfolio.

The Consumer-Business contribution to Agthia’s top-line almost doubled versus last year reflecting the positive growth of the Group. This was driven primarily by the positive momentum generated by the newly acquired entities in the segment, as part of the Group’s strategy to drive growth and diversify revenue streams. As a result, Protein and Snacking contributed a healthy AED 1.07 billion to the top-line for the full year, with Nabil Foods and Atyab contributing only 9 months and 5 months of revenues respectively since acquisition.

Water and Beverage revenues saw promising improvements in the second half of 2021 as hotels and restaurants began to increase footfall in earnest. The water retail channel, which includes Al Ain Water, Al Bayan, Voss, and Alpin, continued