Alexandria Flour Mills reports 11% decline in nine-month profits of fiscal year 2024/25
According to the company, the results reflect the broader economic headwinds affecting Egypt’s food and grain processing sector.
EGYPT – Alexandria Flour Mills and Bakeries Company (AFMC), a prominent player in Egypt’s grain and milling sector, has reported an 11.4% year-on-year drop in net profit for the first nine months of fiscal year 2024/25, despite a 17.7% surge in revenues.
Net profit after tax fell to EGP 39.438 million (US$ 822,000), down from EGP 44.492 million (US$ 927,000) in the same period last year.
Meanwhile, revenues rose to EGP 271.960 million (US$ 5.67 million) by the end of March 2025, up from EGP 231.042 million (US$ 4.82 million) the previous year.
The company’s ability to drive top-line growth amid economic pressures indicates sustained demand across its diversified product portfolio. However, rising operational costs and market volatility have impacted bottom-line performance.
AFMC is deeply integrated across the grain value chain, involved in manufacturing, trading, import/export, storage, fumigation, maintenance, packaging, and distribution of grain and grain substitutes. Its offerings span beyond flour to include bread, pasta, dough, biscuits, animal feed ingredients, packaging solutions, and even real estate services.
According to the company,the results reflect the broader economic headwinds affecting Egypt’s food and grain processing sector, particularly due to inflation and input cost pressures.
Despite growing revenues, reaching a trailing twelve-month total of EGP 330.06 million (US$ 6.88 million), AFMC’s profit margins have narrowed.
As of the latest reporting period, the net profit margin stands at 15.83%, with a gross margin of 17.11%. The company maintains a conservative capital structure, with a debt-to-equity ratio of just 19%, which positions it relatively well amid tightening financial conditions.
In terms of market performance, AFMC’s stock declined by 3.3% over the past year, underperforming both the broader Egyptian market and the food industry index.
However, long-term shareholders have seen significant gains, with stock prices up 119% over the past three years and a staggering 343% over the last five.
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