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Tuesday, 15 March 2022

Edita’s net income jumps 55% in 2021

Edita Food Industries’ net income rose 55% in 2021, reaching EGP 472 mn, according to the company’s latest earnings release (pdf). The bottom line growth was supported by a 31% increase in revenues, which rose to EGP 5.25 bn on the back of better pricing and sales volumes, the company said. The snackfoods company’s net income increased by almost 52% y-o-y in 4Q2021, recording EGP 194.2 mn, while revenues rose 25% to EGP 1.5 bn. The release comes two weeks after the company announced their preliminary 2021 figures.

Looking ahead: Heading deeper into 2022, Edita is “pivoting from a focus on recovery and resilience to expansion mode,” it said. “Edita’s immediate priority is to drive volume growth across its segments while further optimizing its product portfolio to diversify revenue streams… the company will actively expand its production capacity to drive growth and roll out new, higher-value propositions, while shifting consumers increasingly towards higher price points,” it said.

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