Edita wants to invest 1 EGP bn to expand production capacity

Edita has big investment plans for 2024: Snackmaker Edita wants to invest more than EGP 1 bn to increase its production capacity in Egypt next year, Edita Chairman Hani Berzi told CNBC Arabia (watch, runtime: 2:35).

It has been a good 2023: The company’s sales saw more than a 20% y-o-y increase in 2023, he said.

No FX. No problem. Growing exports played a huge role in securing the needed hard currency to cover import costs, Berzi said, adding that Edita’s exports are expected to exceed EGP 1 bn by year’s end.

Remember: Edita posted EGP 1.2 bn in net income during the first nine months of the year, up 88% y-o-y, and sold EGP 8.8 bn worth of its snacks, up 70% compared to the previous period, driven by growth across all segments.