{"id":555152,"date":"2021-11-03T04:00:12","date_gmt":"2021-11-03T04:00:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/"},"modified":"2021-11-03T04:00:12","modified_gmt":"2021-11-03T04:00:12","slug":"edita-profits-up-5-in-3q2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/","title":{"rendered":"Edita profits up 5% in 3Q2021"},"content":{"rendered":"<p><strong>Edita is recovering from covid just fine:<\/strong> Edita Food Industries\u2019 net income rose almost 5% in 3Q2021, reaching EGP 112.4 mn from EGP 107.5 mn in the same period last year, according to the company\u2019s latest <a href=\"https:\/\/ent.news\/2021\/11\/Edita-Earnings-Release-3Q2021.pdf\">earnings release (<\/a><a href=\"https:\/\/ent.news\/2021\/11\/Edita-Earnings-Release-3Q2021.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/11\/Edita-Earnings-Release-3Q2021.pdf\">)<\/a>. Revenues increased by a third to EGP 1.39 bn on higher volumes and better pricing, the company said.<\/p>\n<p><strong>Better pricing = higher revenues:<\/strong> The company has focused on shifting consumers to higher priced products and has raised the average price per package to EGP 1.79, up from EGP 1.63 in 3Q2020. Most recently, the company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84cdbb78-8898-467b-8ae6-52bb5eceb145\">raised the price of Molto<\/a> by EGP 1 and is now selling two ranges of the packaged croissants at EGP 3 and EGP 4, in a bid to improve its bottom line amid rising inflation. <strong>Sales volumes rose 20% during the quarter<\/strong> from a year earlier, driven by its cakes and wafers segments, Edita said.<\/p>\n<p><strong>Looking ahead:<\/strong> \u201cThe company will continue to expand production capacity and rolling out new, higher-value propositions, while shifting consumers increasingly towards higher price points,\u201d it said in the release. It\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b631c86-b30a-46e3-b912-9a1c4ee3dfb6\">new factory in Morocco<\/a> will start operations this month, marking a \u201ckey milestone\u201d in its expansion overseas, it said. The production line will produce 2.7k tons of HoHos cakes each year before another three lines come online at a later date.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Edita is recovering from covid just fine: Edita Food Industries\u2019 net income rose almost 5% in 3Q2021, reaching EGP 112.4 mn from EGP 107.5 mn in the same period last year, according to the company\u2019s latest earnings release (pdf). Revenues increased by a third to EGP 1.39 bn on higher volumes and better pricing, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":555153,"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":[302,409,191,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-edita","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"45e5f681-c079-4094-a263-ee311efd93a8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/307.jpg","photo_position":"above","related_issue":[555138],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Edita profits up 5% in 3Q2021 - 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\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Edita profits up 5% in 3Q2021\" \/>\n<meta property=\"og:description\" content=\"Edita is recovering from covid just fine: Edita Food Industries\u2019 net income rose almost 5% in 3Q2021, reaching EGP 112.4 mn from EGP 107.5 mn in the same period last year, according to the company\u2019s latest earnings release (pdf). Revenues increased by a third to EGP 1.39 bn on higher volumes and better pricing, the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-03T04:00:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/307.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Edita profits up 5% in 3Q2021\",\"datePublished\":\"2021-11-03T04:00:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/\"},\"wordCount\":216,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/307.jpg?fit=%2C&ssl=1\",\"keywords\":[\"earnings\",\"earnings watch\",\"Edita\",\"EnterpriseAM\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/\",\"name\":\"Edita profits up 5% in 3Q2021 - 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The bottom line growth was supported by a 31% increase in revenues, which rose to EGP 5.25 bn on the back of better pricing and sales volumes, the company\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573394,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/04\/earnings-watch-edita-mm-group-report-1h2020-results\/","url_meta":{"origin":555152,"position":1},"title":"Earnings watch : Edita, MM Group report 1H2020 results","author":"enterpriseam admin","date":"4 August 2020","format":false,"excerpt":"EARNINGS WATCH- Pandemic lockdown weighed on Edita\u2019s 2Q2020 performance: The covid-19 pandemic and the partial lockdown the government imposed weighed on Edita\u2019s profitability during the second quarter of the year, leading the snack food maker to report a 90.3% y-o-y drop in net profit to EGP 3.1 mn in the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587706,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/31\/editas-net-income-more-than-doubles-in-1q-2023\/","url_meta":{"origin":555152,"position":2},"title":"Edita\u2019s net income more than doubles in 1Q 2023","author":"enterpriseam admin","date":"31 May 2023","format":false,"excerpt":"Demand continued to grow even as Edita ramped up prices","rel":"","context":"In &quot;EARNINGS WATCH&quot;","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\/5\/1639.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597953,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/earnings-watch-edita-mnhd-report-1q2019-results\/","url_meta":{"origin":555152,"position":3},"title":"Earnings watch: Edita, MNHD report 1Q2019 results","author":"enterpriseam admin","date":"9 May 2019","format":false,"excerpt":"EARNINGS WATCH- Edita net profit increases 87.8% y-o-y in 1Q2019: High-profile snack food maker Edita recorded an 87.8% y-o-y increase in net profit for 1Q2019 to EGP 114.3 mn, according to the company\u2019s earnings release (pdf). Revenues from the quarter reached EGP 982.2 mn, up 10.8% y-o-y, while net profit\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":581936,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/01\/it-was-a-record-year-for-snack-food-giant-edita\/","url_meta":{"origin":555152,"position":4},"title":"It was a record year for snack food giant Edita","author":"enterpriseam admin","date":"1 March 2023","format":false,"excerpt":"Snack food maker Edita Food Industries reported record net income and revenues in 2022 on the back of stronger sales and higher prices, according to its earnings release (pdf). 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 &quot;EARNINGS WATCH&quot;","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":597593,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/31\/earnings-watch-edita-net-profit-increases-26-3-y-o-y-in-2q2019\/","url_meta":{"origin":555152,"position":5},"title":"Earnings watch: Edita net profit increases 26.3% y-o-y in 2Q2019","author":"enterpriseam admin","date":"31 July 2019","format":false,"excerpt":"EARNINGS WATCH- Edita net profit increases 26.3% y-o-y in 2Q2019: Snack food maker Edita recorded a 26.3% y-o-y increase in net profit for 2Q2019 to EGP 31.7 mn, according to the company\u2019s earnings release (pdf). Revenues from the quarter reached EGP 862.8 mn, up 9.3% y-o-y. Commenting on the results,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555152"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555152\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555153"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555152"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555152"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}