Edita had a Molto good year: Snackmaker Edita Food Industries — the companybehind kiosk favorites Todo Bomb, Molto, and Twinkies — saw its bottom line surge to EGP 1.5 bn in 2023, marking a 57% increase from the year before, according to its latest earningsrelease(pdf). Revenues rose 58% y-o-y to EGP 12.1 bn for the year thanks to price hikes of an average 40% y-o-y increase per item sold and a 13% y-o-y increase in items sold. The company’s net income margin held steady at 12%.

The nation’s sweettooth for cakes drove the trend: Half of the year’s revenues came from cake sales, which were up 59% y-o-y to record EGP 6 bn. The growth was echoed across all segments, with biscuits up 106%, candy up 75%, bakery up 61%, and wafers up 45%.

Price increases helped cushion increasing costs: “Higher costs were driven by inflationarypressures and a series of devaluations to the EGP. Despite these challenges, Edita’s strong revenues played a crucial role in absorbing the increases of direct material costs,” the company said.

On a quarterly basis:The company’s net income fell 2% y-o-y in 4Q 2023 to EGP 324 mn,while its top line rose 34% y-o-y to EGP 3.4 bn in the same period.

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