Major Estimate Revision • Jun 06
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from د.إ5.16b to د.إ5.09b. EPS estimate also fell from د.إ0.274 per share to د.إ0.243 per share. Net income forecast to grow 141% next year vs 13% growth forecast for Food industry in United Arab Emirates. Consensus price target broadly unchanged at د.إ5.13. Share price rose 5.6% to د.إ3.59 over the past week. Reported Earnings • May 15
First quarter 2026 earnings released: EPS: د.إ0.11 (vs د.إ0.098 in 1Q 2025) First quarter 2026 results: EPS: د.إ0.11 (up from د.إ0.098 in 1Q 2025). Revenue: د.إ1.33b (up 3.3% from 1Q 2025). Net income: د.إ92.3m (up 13% from 1Q 2025). Profit margin: 7.0% (up from 6.4% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • May 14
Agthia Group PJSC to Report Q2, 2026 Results on Aug 05, 2026 Agthia Group PJSC announced that they will report Q2, 2026 results on Aug 05, 2026 Announcement • May 08
Agthia Group PJSC Launches Agthia Academy Powered By Bühler Agthia Group PJSC launched the Agthia Academy powered by Bühler - a first-of-its-kind capability-building platform created to equip Emirati entrepreneurs, operators, and future specialists with world-class food manufacturing expertise in milling, baking, and production excellence. The program enables participants to translate global standards into day-to-day practice, improving quality, efficiency, and operational discipline, while supporting the UAE's broader food security agenda. The launch of the Agthia Academy coincides with Agthia's participation in Make it in the Emirates 2026, adopting an industry-led approach to skills development. It strengthens capabilities across the food value chain, elevates operational standards, and contributes to sustainable sector growth. The Agthia Academy also strengthens academic collaboration with leading UAE institutions, including United Arab Emirates University, Zayed University, and the Abu Dhabi Hospitality Academy – Les Roches. These partnerships provide access to advanced technologies, industry expertise, and applied training methodologies, enabling universities to enhance their programmes, better prepare students for evolving industry needs, and create career pathways aligned with global food sector standards. The Academy will deliver a structured programme that combines classroom-based learning, hands-on technical training, and international exposure, delivered across Agthia Group's facilities in Abu Dhabi and Bühler Group's global training centres in Switzerland. The launch underscores Agthia's long-term commitment to strengthening food security and developing national human capital, while reinforcing Abu Dhabi's position as a leading hub for advanced food manufacturing, innovation, and industry-led learning. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. Non-Executive Independent Director Svet Varadzhakov was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 24
Upcoming dividend of د.إ0.12 per share Eligible shareholders must have bought the stock before 01 May 2026. Payment date: 22 May 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.7%. Lower than top quartile of Emirian dividend payers (6.9%). Higher than average of industry peers (2.8%). Announcement • Apr 22
Agthia Group PJSC to Report Q1, 2026 Results on May 12, 2026 Agthia Group PJSC announced that they will report Q1, 2026 results on May 12, 2026 Announcement • Mar 26
Agthia Group PJSC, Annual General Meeting, Apr 22, 2026 Agthia Group PJSC, Annual General Meeting, Apr 22, 2026, at 13:00 Arabian Standard Time. Location: abu dhabi United Arab Emirates Reported Earnings • Mar 06
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: د.إ0.10 (down from د.إ0.36 in FY 2024). Revenue: د.إ4.85b (down 1.4% from FY 2024). Net income: د.إ85.5m (down 71% from FY 2024). Profit margin: 1.8% (down from 5.9% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Feb 27
Agthia Group PJSC to Report Fiscal Year 2025 Results on Mar 03, 2026 Agthia Group PJSC announced that they will report fiscal year 2025 results on Mar 03, 2026 Price Target Changed • Jan 11
Price target decreased by 8.4% to د.إ5.36 Down from د.إ5.85, the current price target is an average from 7 analysts. New target price is 47% above last closing price of د.إ3.65. Stock is down 42% over the past year. The company is forecast to post earnings per share of د.إ0.13 for next year compared to د.إ0.36 last year. Major Estimate Revision • Nov 12
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from د.إ0.256 to د.إ0.288. Revenue forecast steady at د.إ4.94b. Net income forecast to grow 167% next year vs 18% growth forecast for Food industry in United Arab Emirates. Consensus price target down from د.إ5.85 to د.إ5.62. Share price fell 10% to د.إ3.49 over the past week. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: د.إ0.001 (vs د.إ0.071 in 3Q 2024) Third quarter 2025 results: EPS: د.إ0.001 (down from د.إ0.071 in 3Q 2024). Revenue: د.إ1.14b (up 5.0% from 3Q 2024). Net income: د.إ828.0k (down 99% from 3Q 2024). Profit margin: 0.1% (down from 5.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 6% per year. Price Target Changed • Aug 14
Price target decreased by 7.8% to د.إ6.03 Down from د.إ6.54, the current price target is an average from 6 analysts. New target price is 48% above last closing price of د.إ4.08. Stock is down 41% over the past year. The company is forecast to post earnings per share of د.إ0.32 for next year compared to د.إ0.36 last year. Major Estimate Revision • Aug 13
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from د.إ5.12b to د.إ5.00b. EPS estimate also fell from د.إ0.387 per share to د.إ0.319 per share. Net income forecast to grow 66% next year vs 14% growth forecast for Food industry in United Arab Emirates. Consensus price target down from د.إ6.54 to د.إ6.24. Share price was steady at د.إ4.10 over the past week. Declared Dividend • Aug 11
First half dividend of د.إ0.10 announced Dividend of د.إ0.10 is the same as last year. Ex-date: 11th September 2025 Payment date: 1st January 1970 Dividend yield will be 5.1%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio) nor is it covered by cash flows (136% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 7.9% to bring the payout ratio under control. EPS is expected to grow by 91% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Aug 07
Second quarter 2025 earnings released: د.إ0.049 loss per share (vs د.إ0.068 profit in 2Q 2024) Second quarter 2025 results: د.إ0.049 loss per share (down from د.إ0.068 profit in 2Q 2024). Revenue: د.إ1.14b (up 5.9% from 2Q 2024). Net loss: د.إ41.0m (down 174% from profit in 2Q 2024). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 5% per year. Announcement • Aug 07
Agthia Group PJSC Approves the Recommendation of Distributing Interim (Semiannual) Dividends for the Year 2025 Agthia Group PJSC announced at the board meeting held on August 6, 2025, approved the recommendation of distributing interim (semiannual) dividends of 10.31fils per share with a total amount of AED 85.7 million to the Company's shareholders. Major Estimate Revision • May 20
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from د.إ5.45b to د.إ5.18b. EPS estimate also fell from د.إ0.448 per share to د.إ0.393 per share. Net income forecast to grow 35% next year vs 14% growth forecast for Food industry in United Arab Emirates. Consensus price target broadly unchanged at د.إ6.96. Share price fell 3.0% to د.إ4.47 over the past week. Price Target Changed • May 19
Price target decreased by 8.1% to د.إ6.96 Down from د.إ7.57, the current price target is an average from 7 analysts. New target price is 55% above last closing price of د.إ4.48. Stock is down 20% over the past year. The company is forecast to post earnings per share of د.إ0.39 for next year compared to د.إ0.36 last year. Reported Earnings • May 15
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: د.إ0.098 (down from د.إ0.14 in 1Q 2024). Revenue: د.إ1.28b (down 11% from 1Q 2024). Net income: د.إ81.6m (down 30% from 1Q 2024). Profit margin: 6.4% (down from 8.0% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.9%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 36% to د.إ4.24. The fair value is estimated to be د.إ5.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 8.2%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Major Estimate Revision • Mar 06
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from د.إ5.62b to د.إ5.36b. EPS estimate also fell from د.إ0.487 per share to د.إ0.434 per share. Net income forecast to grow 20% next year vs 15% growth forecast for Food industry in United Arab Emirates. Consensus price target down from د.إ7.73 to د.إ7.57. Share price fell 11% to د.إ4.64 over the past week. Announcement • Mar 03
Agthia Group PJSC, Annual General Meeting, Apr 22, 2025 Agthia Group PJSC, Annual General Meeting, Apr 22, 2025. Declared Dividend • Feb 28
Final dividend increased to د.إ0.11 Dividend of د.إ0.11 is 4.6% higher than last year. Ex-date: 21st April 2025 Payment date: 1st January 1970 Dividend yield will be 4.3%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to د.إ5.12, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Food industry in Asia. Total returns to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at د.إ8.15 per share. Buy Or Sell Opportunity • Feb 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to د.إ6.20. The fair value is estimated to be د.إ7.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Buy Or Sell Opportunity • Jan 15
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to د.إ6.04. The fair value is estimated to be د.إ7.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 9.7% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: د.إ0.071 (vs د.إ0.063 in 3Q 2023) Third quarter 2024 results: EPS: د.إ0.071 (up from د.إ0.063 in 3Q 2023). Revenue: د.إ1.08b (up 1.1% from 3Q 2023). Net income: د.إ58.7m (up 11% from 3Q 2023). Profit margin: 5.4% (up from 4.9% in 3Q 2023). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Price Target Changed • Aug 29
Price target increased by 8.2% to د.إ7.50 Up from د.إ6.93, the current price target is an average from 6 analysts. New target price is 7.6% above last closing price of د.إ6.97. Stock is up 44% over the past year. The company is forecast to post earnings per share of د.إ0.43 for next year compared to د.إ0.31 last year. Price Target Changed • Aug 14
Price target increased by 8.2% to د.إ7.27 Up from د.إ6.72, the current price target is an average from 7 analysts. New target price is 6.1% above last closing price of د.إ6.85. Stock is up 42% over the past year. The company is forecast to post earnings per share of د.إ0.43 for next year compared to د.إ0.31 last year. Declared Dividend • Aug 09
First half dividend of د.إ0.10 announced Shareholders will receive a dividend of د.إ0.10. Ex-date: 20th September 2024 Payment date: 1st January 1970 Dividend yield will be 3.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: د.إ0.068 (vs د.إ0.046 in 2Q 2023) Second quarter 2024 results: EPS: د.إ0.068 (up from د.إ0.046 in 2Q 2023). Revenue: د.إ1.08b (up 5.7% from 2Q 2023). Net income: د.إ55.6m (up 45% from 2Q 2023). Profit margin: 5.2% (up from 3.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Aug 07
Agthia Group PJSC Recommends Distributing Interim (Semiannual) Dividends Agthia Group PJSC announced at the board meeting held on August 6, 2024, approved the recommendation of distributing interim (semiannual) dividends of 10.31fils per share with a total amount of AED 85.7 million to the Company's shareholders. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Aug 05
Agthia Group PJSC to Report Q3, 2024 Results on Nov 06, 2024 Agthia Group PJSC announced that they will report Q3, 2024 results on Nov 06, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to د.إ6.22, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Food industry in Asia. Total returns to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at د.إ9.10 per share. Price Target Changed • Jul 22
Price target increased by 10% to د.إ6.72 Up from د.إ6.10, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of د.إ6.48. Stock is up 32% over the past year. The company is forecast to post earnings per share of د.إ0.43 for next year compared to د.إ0.31 last year. Buy Or Sell Opportunity • Jul 12
Now 21% undervalued Over the last 90 days, the stock has risen 16% to د.إ6.48. The fair value is estimated to be د.إ8.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 8.7% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Jun 27
Agthia Group PJSC to Report Q2, 2024 Results on Aug 06, 2024 Agthia Group PJSC announced that they will report Q2, 2024 results on Aug 06, 2024 Buy Or Sell Opportunity • May 23
Now 20% undervalued Over the last 90 days, the stock has risen 21% to د.إ5.87. The fair value is estimated to be د.إ7.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: د.إ0.15 (vs د.إ0.10 in 1Q 2023) First quarter 2024 results: EPS: د.إ0.15 (up from د.إ0.10 in 1Q 2023). Revenue: د.إ1.45b (up 23% from 1Q 2023). Net income: د.إ115.9m (up 33% from 1Q 2023). Profit margin: 8.0% (up from 7.3% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • May 11
Agthia Group PJSC to Report Q1, 2024 Results on May 15, 2024 Agthia Group PJSC announced that they will report Q1, 2024 results on May 15, 2024 Announcement • Apr 19
Agthia Group PJSC, Annual General Meeting, Apr 23, 2024 Agthia Group PJSC, Annual General Meeting, Apr 23, 2024, at 07:00 Coordinated Universal Time. Reported Earnings • Mar 06
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: د.إ0.33 (up from د.إ0.31 in FY 2022). Revenue: د.إ4.56b (up 12% from FY 2022). Net income: د.إ261.0m (up 5.8% from FY 2022). Profit margin: 5.7% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 5.4%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Mar 01
Agthia Group PJSC (ADX:AGTHIA) acquired additional 10% stake in Mohamed Mosaad Ahmed Auf Hamada And Partners from Tanmeya Energy B.v. Agthia Group PJSC (ADX:AGTHIA) acquired additional 10% stake in Mohamed Mosaad Ahmed Auf Hamada And Partners from Tanmeya Energy B.v. on February 29, 2024. Prior to the transaction, Agthia Group PJSC (ADX:AGTHIA) held 60%.
Agthia Group PJSC (ADX:AGTHIA) completed the acquisition of additional 10% stake in Mohamed Mosaad Ahmed Auf Hamada And Partners from Tanmeya Energy B.v. on February 29, 2024. Reported Earnings • Nov 08
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: د.إ0.067 (up from د.إ0.051 in 3Q 2022). Revenue: د.إ1.07b (up 12% from 3Q 2022). Net income: د.إ52.7m (up 30% from 3Q 2022). Profit margin: 4.9% (up from 4.2% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 03
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: د.إ0.048 (up from د.إ0.045 in 2Q 2022). Revenue: د.إ1.02b (up 8.1% from 2Q 2022). Net income: د.إ38.4m (up 6.8% from 2Q 2022). Profit margin: 3.8% (in line with 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jun 05
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from د.إ4.36b to د.إ4.51b. EPS estimate increased from د.إ0.32 to د.إ0.376 per share. Net income forecast to grow 6.0% next year vs 21% growth forecast for Food industry in United Arab Emirates. Consensus price target broadly unchanged at د.إ5.90. Share price rose 4.6% to د.إ5.00 over the past week. Board Change • May 18
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Chairman Khalifa Sultan Sultan Al Suwaidi was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • May 10
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: د.إ0.11 (up from د.إ0.10 in 1Q 2022). Revenue: د.إ1.18b (up 12% from 1Q 2022). Net income: د.إ86.8m (up 5.6% from 1Q 2022). Profit margin: 7.3% (down from 7.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 10.0%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 10
Price target decreased by 7.6% to د.إ5.84 Down from د.إ6.32, the current price target is an average from 6 analysts. New target price is 42% above last closing price of د.إ4.11. Stock is down 9.7% over the past year. The company is forecast to post earnings per share of د.إ0.34 for next year compared to د.إ0.31 last year. Reported Earnings • Mar 08
Full year 2022 earnings released: EPS: د.إ0.31 (vs د.إ0.29 in FY 2021) Full year 2022 results: EPS: د.إ0.31 (up from د.إ0.29 in FY 2021). Revenue: د.إ4.07b (up 33% from FY 2021). Net income: د.إ246.8m (up 14% from FY 2021). Profit margin: 6.1% (down from 7.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.8%. The fair value is estimated to be د.إ5.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings is also forecast to grow by 7.4% per annum over the same time period. Announcement • Jan 03
Agthia Group Pjsc Announces CFO Changes Agthia Group PJSC announce the appointment of Sherif Elfaham as Group Chief Financial Officer, effective 1 January 2023. Sherif brings strong strategic, commercial, and operational experience across a range of consumer- facing businesses, having spent over 20 years with Unilever in the UK, North Africa, Middle East, and Turkey, most recently as CFO of its multi-billion-dollar Global Fabric Care business and Home Care Business Group performance management, where he co-led the future formats acceleration strategy and stepped-up value creation of the business. He was also responsible for financial and strategic planning, multi-territory performance management, transformative innovations, global cost and asset base shaping and strategic M&A agenda. Prior to this, Sherif held various key senior roles in financial planning and analysis, supply chain optimisation, marketing transformation, and business unit regeneration across several of Unilever's regional operations. He holds a Master's degree in Financial Strategy from Oxford University and is a Certified Management Accountant (CMA) from the Institute of Management Accountants (IMA). Niraj Jain, who served as the Group's Interim CFO from August 2022, will resume his responsibilities as Senior Director, Corporate Finance. Announcement • Dec 02
Agthia Group PJSC (ADX:AGTHIA) completed the acquisition of 60% stake in Abu Auf from Ahmed Auf, Mohamed Auf, Ayman Auf and Tanmiya Capital Ventures. Agthia Group PJSC (ADX:AGTHIA) agreed to acquire 60% stake in Abu Auf from Ahmed Auf, Mohamed Auf, Ayman Auf and Tanmiya Capital Ventures for EGP 2.9 billion on July 14, 2022. The consideration is subject to (a) customary completion accounts adjustments for debt, cash, invested capital and working capital and (b) an earn out payment in relation to 2022 EBITDA levels. Post completion, Agthia will hold 60% of Auf Group, while Auf Group’s founders will retain a combined stake of 30% in the business. Tanmiya Capital Ventures will remain a committed shareholder with a 10% stake. During the Last Twelve Months (LTM) period ending December 31, 2021, Auf Group generated total net revenue of around AED 236 million (EGP 1.2 billion) and EBITDA of approximately AED 58 million (EGP 298 million). The acquirer Board of Directors has approved a strategic acquisition of 60% of Auf Group. The transaction is subject to satisfying customary closing conditions, including obtaining relevant regulatory approvals. Freshfields Bruckhaus Deringer LLP is acting as international legal counsel, and Matouk Bassiouny & Hennawy as Egyptian counsel, to Agthia. CI Capital is acting as financial advisor to Agthia.
Agthia Group PJSC (ADX:AGTHIA) completed the acquisition of 60% stake in Abu Auf from Ahmed Auf, Mohamed Auf, Ayman Auf and Tanmiya Capital Ventures on November 30, 2022. EFG-Hermes Holding S.A.E (CASE:HRHO) acted as financial advisor to Mohamed Mosaad Ahmed Auf Hamada And Partners. Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. 1 highly experienced director. Non-Executive Independent Director Khamis Mohamed Khamis Al Shamsi is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: د.إ0.051 (vs د.إ0.045 in 3Q 2021) Third quarter 2022 results: EPS: د.إ0.051 (up from د.إ0.045 in 3Q 2021). Revenue: د.إ953.5m (up 20% from 3Q 2021). Net income: د.إ40.5m (up 14% from 3Q 2021). Profit margin: 4.2% (down from 4.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Sep 16
Agthia Group Pjsc Approves an Interim Cash Dividend Payment Agthia Group PJSC in its General Assembly Meeting approved the Board's proposal for an interim cash dividend payment at a value of 8.25 fils per share, with a total value of AED 65.31 million for the 6 months period ending on 30 June 2022. Announcement • Aug 23
Agthia Group PJSC, Annual General Meeting, Sep 15, 2022 Agthia Group PJSC, Annual General Meeting, Sep 15, 2022, at 09:00 Coordinated Universal Time. Announcement • Aug 18
Agthia Group PJSC Announces CFO Changes The Board of Directors of Agthia Group PJSC announced that its Chief Financial Officer, Ammar Al-Ghoul will be stepping down from his role. The Group will announce the appointment of Al-Ghoul's replacement as soon as it is finalized. In the interim, Neeraj Jain, who is currently the Senior Director of Finance will take over as Acting CFO from August 22, 2022. Agthia has made many notable strategic achievements since the announcement of its 2025 strategy in April 2021, making significant progress across key value-creating levers in a short space of time: including M&A-driven expansion into new sectors and geographic markets, portfolio diversification to manage business risk, and organic growth and operational efficiency initiatives driving further revenue and profit growth. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: د.إ0.045 (vs د.إ0.025 in 2Q 2021) Second quarter 2022 results: EPS: د.إ0.045 (up from د.إ0.025 in 2Q 2021). Revenue: د.إ942.5m (up 44% from 2Q 2021). Net income: د.إ35.9m (up 96% from 2Q 2021). Profit margin: 3.8% (up from 2.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.5%, compared to a 16% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 15
Agthia Group PJSC (ADX:AGTHIA) agreed to acquire 60% stake in Auf Bakery & Pastry Equipment. Agthia Group PJSC (ADX:AGTHIA) agreed to acquire 60% stake in Auf Bakery & Pastry Equipment on July 14, 2022. Post completion, Agthia will hold 60% of Auf Group, while Auf Group’s founders will retain a combined stake of 30% in the business and continue to lead the company with the full backing of Agthia’s regional footprint and operational support. Tanmiya Capital Ventures, an Egyptian private equity firm which invested in Auf Group in 2019, also remains a committed shareholder with a 10% stake. During the Last Twelve Months (LTM) period ending December 31, 2021, Auf Group generated total net revenue of around AED 236 million and EBITDA of approximately AED 58 million, with healthy EBITDA margins of 25%. The acquirer Board of Directors has approved a strategic acquisition of 60% of Auf Group. The transaction is subject to satisfying customary closing conditions, including obtaining relevant regulatory approvals. Freshfields Bruckhaus Deringer LLP is acting as international legal counsel, and Matouk Bassiouny & Hennawy as Egyptian counsel, to Agthia. CI Capital is acting as financial advisor to Agthia. Reported Earnings • May 11
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: د.إ0.10 (up from د.إ0.069 in 1Q 2021). Revenue: د.إ1.05b (up 58% from 1Q 2021). Net income: د.إ82.2m (up 66% from 1Q 2021). Profit margin: 7.8% (up from 7.5% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Over the next year, revenue is forecast to grow 15%, compared to a 15% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. 1 highly experienced director. Non-Executive Independent Director Khamis Mohamed Khamis Al Shamsi is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 08
Agthia Group Pjsc Approves Cash Dividend for the Second Half of 2021 Agthia Group PJSC at its annual general meeting held on April 7, 2022, approved the Board of Directors' proposal for a cash dividend of 8.25%, equivalent to 8.25 fils per share, in line with the Group's semi-annual dividend policy, of the second half of 2021. Total dividends distributed for the year amounted to AED 130.6 million, a 9.9% increase relative to the AED 118.8 million distributed in 2020. Major Estimate Revision • Apr 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from د.إ3.66b to د.إ4.14b. EPS estimate fell from د.إ0.38 to د.إ0.36. Net income forecast to grow 33% next year vs 22% growth forecast for Food industry in United Arab Emirates. Consensus price target of د.إ7.20 unchanged from last update. Share price fell 2.2% to د.إ4.55 over the past week. Announcement • Mar 10
Agthia Group PJSC Recommends an 8.25% Cash Dividend for the Second Half of 2021, Equivalent to Aed 0.0825 Per Share Agthia Group PJSC recommended an 8.25% cash dividend for the second half of 2021, equivalent to AED 0.0825 per share. Reported Earnings • Mar 09
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: د.إ0.29 (up from د.إ0.057 in FY 2020). Revenue: د.إ3.07b (up 49% from FY 2020). Net income: د.إ216.0m (up د.إ181.6m from FY 2020). Profit margin: 7.0% (up from 1.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Over the next year, revenue is forecast to grow 19%, compared to a 12% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Mar 04
Agthia Group PJSC to Report Fiscal Year 2021 Final Results on Mar 07, 2022 Agthia Group PJSC announced that they will report fiscal year 2021 final results on Mar 07, 2022 Announcement • Dec 15
Agthia Group PJSC (ADX:AGTHIA) completed the acquisition BMB Group. Agthia Group PJSC (ADX:AGTHIA) agreed to acquire BMB Group on September 1, 2021. The transaction will be for 100% of BMB and is expected to be fully funded by cash. Founder Attito Raslan will retain a stake in Atyab and continue to grow the business by leveraging Agthia’s financial strength, regional reach, and industry expertise. During the Last Twelve Months (LTM) period ending 30 June 2021, BMB generated total revenues of around AED 270 million and EBITDA of approximately AED 54 million, with healthy EBITDA margins expected to grow to around 20% this year. The transaction is subject to satisfying customary closing conditions, including obtaining relevant regulatory approvals. As of September 1, 2021, Agthia Group's board approved the deal. The transaction is expected to be immediately accretive to Agthia’s earnings. Freshfields Bruckhaus Deringer LLP is acting as legal counsel to Agthia. EFG Hermes is acting as financial advisor to Agthia.
Agthia Group PJSC (ADX:AGTHIA) completed the acquisition of BMB Group on December 13, 2021. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS د.إ0.045 (vs د.إ0.054 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: د.إ795.1m (up 62% from 3Q 2020). Net income: د.إ35.4m (up د.إ67.8m from 3Q 2020). Profit margin: 4.4% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.