Abu Dhabi Ghitha Holding reports US$1.35B revenue for FY 2024, marking 8.9% growth
The Group’s gross profit surged 25.8% year-on-year to US$266.2 million, supported by cost efficiencies, strategic acquisitions.
UAE – Ghitha Holding PJSC (ADX: Ghitha), a leading diversified conglomerate operating across agriculture, food production, and distribution, has reported robust financial results for the fiscal year ending December 31, 2024.
The Group posted total revenue of US$1.35 billion, reflecting an 8.9% increase from FY2023, driven by organic expansion, strategic acquisitions, and a commitment to operational excellence.
The Group’s gross profit surged 25.8% year-on-year to US$266.2 million, supported by cost efficiencies, strategic acquisitions, and synergies that enhanced its cost structure.
This led to a 2.6 percentage point improvement in gross profit margin, reaching 19.7% in FY-2024. Ghitha’s total assets also grew significantly by 32.0%, reaching US$2.53 billion, underscoring its strengthened financial position.
Falal Ameen, CEO of Ghitha Holding, emphasized the Group’s strategic focus in 2024.
“This was a pivotal year for Ghitha Holding as we reinforced our leadership in the region’s packaged food and agriculture sector. Our growth was fueled by scaling operations, optimizing efficiencies, and making strategic investments aligned with our long-term vision,” he stated.
According to Ameen, by expanding into new markets and enhancing portfolio performance, the Group have solidified its foundation for sustained success.
Looking ahead, Ghitha Holding plans to leverage artificial intelligence and technology to streamline operations, improve decision-making, and unlock further value.
The Group’s key focus will be operational consolidation, aiming to integrate efficiencies across its subsidiaries and enhance agility in a rapidly evolving market. With these strategic initiatives, Ghitha is poised to drive innovation, contribute to national food security objectives, and maximize stakeholder value.
Ghitha Holding PJSC is a private joint stock company based in Abu Dhabi, UAE, and a subsidiary of International Holding Company (ADX: IHC).
The Group’s diverse portfolio includes subsidiaries and joint ventures such as Al Ain Farms, Marmum Dairy Farm, Apex Investment PSC (ADX: APEX), Al Ajban Poultry, Alliance Food Company, Zee Stores International, Abu Dhabi Vegetable Oil Company, and many others.
Ghitha specializes in dairy, poultry, fish, agriculture, food commodities, edible oils, trading, and distribution.
Established in 1998, IHC has grown into the most valuable holding company in the Middle East, with a market capitalization of US$243 billion.
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