{"id":544446,"date":"2022-03-03T04:08:30","date_gmt":"2022-03-03T04:08:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/editas-net-income-up-nearly-57-in-2021\/"},"modified":"2022-03-03T04:08:30","modified_gmt":"2022-03-03T04:08:30","slug":"editas-net-income-up-nearly-57-in-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/editas-net-income-up-nearly-57-in-2021\/","title":{"rendered":"Edita\u2019s net income up nearly 57% in 2021"},"content":{"rendered":"

<\/a> Edita Food Industries\u2019 net income jumped 56.5% y-o-y in FY2021,<\/strong> reaching EGP 473 mn, according to the company\u2019s preliminaryearnings release (pdf)<\/a>. Revenues increased by nearly 31% y-o-y, recording EGP 5.25 bn on the back of better pricing and sales volumes, the company said, adding that FY2021 volumes surpassed pre-covid levels, and matched *drumroll* pre-devaluation levels. <\/strong><\/p>\n

The snackfoods company\u2019s bottom line increased by 55% y-o-y in 4Q2021,<\/strong> recording EGP 197 mn, while revenues rose nearly 26% to record EGP 1.5 bn for the quarter. Edita started operations at its new Morocco factory<\/a> in 4Q2021, marking the company\u2019s first greenfield investment outside of Egypt. The EGP 200 mn plant currently produces 2.7k tons of HoHos cakes every year.<\/p>\n

Edita\u2019s honing in on baked goods + wafers: <\/strong>The company\u2019s cakes and bakery segments together accounted for around 80% of revenues last year, while its wafers segment was the fastest-growing, recording an 81.6% jump in revenues to EGP 610.6 mn. <\/strong>The snackfoods maker plans to invest around EGP 400 mn to add new production lines for its baked goods and wafers segments this year. Last month, Edita rebranded its Molto Sandwich line to Molto Fino<\/a> and added three new flavors, and expanded its biscuits segment with the launch of Oniro Lava<\/a>, following on from the launch of its Freska Choco Sticks<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Edita Food Industries\u2019 net income jumped 56.5% y-o-y in FY2021, reaching EGP 473 mn, according to the company\u2019s preliminaryearnings release (pdf). Revenues increased by nearly 31% y-o-y, recording EGP 5.25 bn on the back of better pricing and sales volumes, the company said, adding that FY2021 volumes surpassed pre-covid levels, and matched *drumroll* pre-devaluation levels. […]<\/p>\n","protected":false},"author":1,"featured_media":544447,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[409,191,72,383],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-edita","tag-enterpriseam","tag-fmcg","wpautop","entry"],"acf":{"mongo_id":"f9c10238-487e-4fc3-a9f3-caf58b81ead8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/41.jpg","photo_position":"above","related_issue":[544433],"teaser":"","voice_url":""},"yoast_head":"\nEdita\u2019s net income up nearly 57% in 2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/editas-net-income-up-nearly-57-in-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Edita\u2019s net income up nearly 57% in 2021\" \/>\n<meta property=\"og:description\" content=\"Edita Food Industries\u2019 net income jumped 56.5% y-o-y in FY2021, reaching EGP 473 mn, according to the company\u2019s preliminaryearnings release (pdf). Revenues increased by nearly 31% y-o-y, recording EGP 5.25 bn on the back of better pricing and sales volumes, the company said, adding that FY2021 volumes surpassed pre-covid levels, and matched *drumroll* pre-devaluation levels. 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The company\u2019s net income more than doubled during the year to EGP 959.4 mn, while revenues rose almost 50% to EGP\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Edita-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558278,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/earnings-watch-edita-etisalat-misr\/","url_meta":{"origin":544446,"position":2},"title":"Earnings watch: Edita, Etisalat Misr","author":"enterpriseam admin","date":"3 August 2021","format":false,"excerpt":"Edita\u2019s bottom line surged over twenty five-fold y-o-y in 2Q2021 to EGP 83 mn from EGP 3.1 mn in the previous year, driven by \u201cstrong top line growth,\u201d new product launches and recovering consumption, the company said in an earnings release (pdf). 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Edita, E-Finance, Contact Financial and Orascom Development Egypt all reported strong results despite the ongoing economic challenges. 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