Agthia reports $354mln in Q1 net revenue
The Group reported AED 1.3 billion in revenue for Q1 2025, reflecting a year-on-year decline of 11.4%, with the quarter lapping the one-time wheat trading activity (AED 120 million), the significant devaluation of the Egyptian currency (EGP) in March 2024, and the carryover of the short-term operational challenges in the dates business. Excluding the impact of EGP devaluation and the wheat trading activity recorded last year, Group revenue would have recorded an increase of 5.2% year-on-year.
Group EBITDA declined 20.2% year-on-year to AED 185.7 million, with a margin of 14.5%, reflecting ongoing pressures in specific categories. Net Profit for the quarter stood at AED 86.1 million, with a margin of 6.7%. Profitability was also impacted by the implementation of the Pillar II corporate tax in the UAE, which raised the Group's effective tax rate to 19.3%, up from 13.5% in the same period last year.
During the quarter, Agthia increased its stake in Abu Auf from 70% to 80%, deepening integration within the Snacking segment and underscoring the Group's strong belief in its long-term growth potential. The move reflects Agthia's continued focus on scaling high-opportunity categories aligned with evolving consumer trends.
In parallel, the Group's Board approved the acquisition of Riviere, a leading bottled water HOS player in the UAE, further expanding Agthia's direct-to-consumer footprint and strengthening its leadership in the Water category.
Agthia ended the quarter with a Net Debt-to-EBITDA ratio of 2.4x and AED 321 million in cash and equivalents – maintaining a strong financial position that supports continued investment in strategic priorities and growth opportunities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
20 minutes ago
- Gulf Business
Dubai Duty Free shatters sales records in 2025: What's driving the growth?
Image credit: WAM/Website Dubai Duty Free has reported record-breaking sales for the first half of 2025, with turnover reaching Dhs4.118bn ($1.128bn)—a 5.34 per cent year-on-year increase. The figure exceeds the previous first-half record by Dhs208.95m ($57.24m), reinforcing the airport retailer's strong post-pandemic recovery. Read- The robust performance was driven by a surge in travel during the Eid holidays and the early summer season, which significantly boosted passenger traffic and retail spending across the airport, 'We are very pleased with our record performance for the first half of 2025,' said Ramesh Cidambi, Managing Director of Dubai Duty Free. 'While we await final passenger numbers for June, the spend per passenger is likely to be better than June last year. This performance is a testament to our team's hard work and the strength of Dubai as a global travel hub.' Top performing categories and luxury expansion plans Perfumes, liquor, cigarettes and tobacco, gold, and confectionery retained their positions as the top five product categories. Perfume sales reached Dhs744.24m ($203.90m), accounting for 18 per cent of total revenue and reflecting a 5 per cent increase over the same period last year. Liquor followed closely with Dhs513.37m ($140.65m) in sales. Sales of cigarettes and tobacco rose by 12.24 per cent year-on-year, totaling Dhs439.91m ($120.52m), while Gold sales grew by 6.14 per cent to Dhs416.90m ($114.22m), contributing just over 10 per cent to overall revenue. Confectionery continued its strong upward trend, recording Dhs412.52m ($113.02m) in sales—a remarkable 62.70 per cent increase from the same period in 2024. Cosmetics also performed well, increasing 3.36 per cent to Dhs201.51m ($55.21m) and contributing nearly 5 per cent to total turnover. 'We are looking forward to an equally busy second half of the year,' Cidambi said. Passenger spend and terminal sales on the rise Passenger spending across Dubai International Airport continued to grow during the first six months of 2025. Terminal 3, the largest and busiest terminal, recorded a 6.37 per cent rise in duty free sales, driven by both increased foot traffic and higher average spend per traveler. Terminal 1 also showed healthy growth, posting a 5.25 per cent sales increase over the same period last year. Sales performance improved across all major passenger regions. European travelers led the way with a 16.89 per cent year-on-year increase in spending, followed by the Middle East with an 8.15 per cent rise. The Russian region saw a 4.41 per cent gain, while the Indian subcontinent showed steady growth of 1.02 per cent. These trends highlight Dubai's continued appeal as a global transit hub and signal strong consumer confidence among international travelers. Dubai Duty Free officials remain optimistic about sustained growth in the second half of the year, particularly during the upcoming peak travel months and traditionally busy final quarter.
Zawya
21 minutes ago
- Zawya
Qatar Central announces changes in new One Riyal banknote
Doha, Qatar: Qatar Central Bank (QCB) announced changes in the One Riyal denomination of the country's fifth series of banknotes. The new edition will now include changes in the official state emblem, arabic numerals, and issue date. QCB stated that the change was implemented to align with the laws in force in the country. It further affirmed that the previous edition of the Qatari Riyal (Fifth Series) will remain in circulation, and this change will further be applied to other currency denominations at a later date. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21 minutes ago
- Zawya
Abu Dhabi VC firm EQIQ invests $3mln in Iraq's Instabank
UAE-based venture capital fund EQIQ has invested $3 million in Iraq's Instabank, in line with a strategy to mordernise the financial sector in the country. The anchor investment is part of a larger $15 million funding round for the next-generation digital bank, founded in 2025 by Iraqi-American banker Hussain Qaragholi. Instabank, officially Al-Fawr Digital Bank, seeks to boost financial inclusion in Iraq through digital innovation and by leveraging AI and advanced digital tools. According to Mohamed Al-Hakim, Founding Partner at EQIQ, Instabank is poised to be the foundation of their efforts to digitise financial ecosystems in Iraq. Headquartered in Abu Dhabi Global Market (ADGM), EQIQ is pursuing investments in technology start-ups in Iraq. It has recently announced plans to expand its fund size from $15 million to $30 million. (Writing by Cleofe Maceda; editing by Seban Scaria)
