Edita Food Industries achieves 33% revenue growth in 2024, driven by strong snacks sales
EGYPT – Edita Food Industries S.A.E., a leading player in Egypt’s packaged snack food market and dual-listed on the Egyptian Exchange (EFID.CA) and London Stock Exchange (EFID.L), has reported a landmark financial performance for the fiscal year 2024, with revenues surging by 33.2% year-on-year (y-o-y) to reach EGP 16.1 billion (US$ 520 million).
The company attributes the impressive performance to its strategic diversification, effective pricing strategies, and regional expansion.
Net profits for the year rose to EGP 1.4 billion (US$27 million), driven by a surge in revenue across all product segments.
According to Edita, the cake segment remains the company’s primary revenue generator, experiencing a 37.1% annual growth and contributing over 50% to total revenues.
Other product segments also saw remarkable growth, with revenues from wafers, biscuits, and candy increasing by 60.8%, 144.4%, and 57.6% year-on-year, respectively.
Despite facing inflationary pressures and the devaluation of the Egyptian pound, Edita successfully navigated cost challenges through strategic repricing and commercial initiatives.
This effort resulted in a gross profit of EGP 4.9 billion (US$96 million), a 25% increase year-on-year, while maintaining a gross profit margin (GPM) of 30.4%. Notably, the GPM improved in the fourth quarter, reaching 30.9%.
Edita’s regional expansion efforts in 2024 yielded significant results, with net export sales rising by 42.1% year-on-year to EGP 1.6 billion (US$31 million).
Edita Morocco played a crucial role in this growth, reporting revenues of EGP 475.6 million (US$9.4 million), a 45.8% increase from the previous year, as its second production line operated at higher utilization levels.
The company also strategically utilized Morocco as a hub to enter West African markets, completing its first shipment to Mauritania in November 2024.
Additionally, in January 2025, Edita expanded into the Iraqi market, one of the region’s fastest-growing snack food sectors, by acquiring a 49% stake in Tuama Jebur Abbas, a manufacturer based in Baghdad, with plans to commence operations in the second half of 2025.
In the third quarter of 2024, the company reported consolidated revenues of EGP 3.9 billion (US$127.6 million), marking a robust 25.5% year-on-year increase.
This growth was largely attributed to significant price increases, with the average price per pack rising by 50.0% and the average cost per ton surging by 43.4%.
Founded in 1996 and headquartered in Cairo, Edita Food Industries specializes in a wide range of branded baked snack products, including packaged cakes, biscuits, wafers, rusks, and candy.
With a diversified portfolio, strong export momentum, and ongoing regional expansion, Edita remains optimistic for sustained growth in 2025 and beyond.
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