The profits of Edita Food Industries increased by 93% to EGP 1.02bn in 2022, compared to EGP 528.8m in 2021.
The company’s sales increased to reach EGP 7.67bn in 2022, compared to sales of EGP 5.25bn in 2021.
Edita Morocco recorded revenues of EGP 176.2m during its first year of operation, which reflects the positive return of operating a new line for cake production in the company’s factory last October, which led to grabbing a market share in Morocco of about 10%.
Export sales increased by 73%, to record EGP 536.2m in 2022, while the value of exports in dollars amounted to $27m, with an annual growth rate of 37.4%.
Hani Barzi, the company’s Chairperson, said that achieving positive results was supported by absorbing the market moves very quickly while maintaining profitability levels.
He stressed that the management will continue to achieve positive results, during the current year, through the implementation of ambitious plans aimed at developing the company’s business in the Egyptian market and regional markets.
The company indicated, in a statement, that it was able to overcome difficult operational challenges to mitigate the negative impact of the challenges in various global markets with the aim of maintaining levels of profitability, and it changed selling prices and introduced new price categories, in addition to developing a group of the company’s products and launching new products.
It attributed the revenue growth during the past year to the increase in the quantities sold by an annual rate of 22.1%, to record a record level of more than 3.5 billion packages.
This confirms the company’s ability to innovate products at a higher price, as well as maintaining business continuity in light of the challenges facing various markets of the world, and maintaining the efficiency of supply chains, which led to the growth of the company’s market share in the sectors of cakes, baked goods and biscuits.