{"id":560401,"date":"2021-02-25T04:25:44","date_gmt":"2021-02-25T04:25:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/25\/earnings-watch-edita-reports-2020-results\/"},"modified":"2021-02-25T04:25:44","modified_gmt":"2021-02-25T04:25:44","slug":"earnings-watch-edita-reports-2020-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/25\/earnings-watch-edita-reports-2020-results\/","title":{"rendered":"Earnings watch: Edita reports 2020 results"},"content":{"rendered":"

Edita bottom line recovers from post-covid lockdown in the back half of 2020:<\/strong> Edita recorded EGP 302.2 mn in net income during 2020, down 16.6% y-o-y, according to the company\u2019s earnings release (pdf). The EGX- and LSE-listed snackfood manufacturer saw its net income in 4Q2020 grow 16% y-o-y, \u201csupported by gross prof. for the period, an EGP 11 mn export subsidy booked in the quarter, combined with lower interest expenses and cost of funding.\u201d Edita\u2019s bottom line had also inched up in 3Q2020<\/a>. \u201cSupported by better pricing and portfolio optimization throughout the year,\u201d Edita\u2019s revenues grew 12.6% y-o-y to register EGP 1.2 bn in 4Q2020. On a full-year basis, revenues were essentially flat y-o-y at EGP 4.0 bn.<\/p>\n

Looking ahead, introducing new products will remain \u201ca top priority\u201d for Edita<\/strong>, after having introduced its Molto Mini Magnum, Freska Block, and Hohos Extreme over the past two months. This plan builds on the company\u2019s new product launches in 2020, which \u201ccontributed to more than 20% of consolidated revenues for the year,\u201d according to the release.<\/p>\n","protected":false},"excerpt":{"rendered":"

Edita bottom line recovers from post-covid lockdown in the back half of 2020: Edita recorded EGP 302.2 mn in net income during 2020, down 16.6% y-o-y, according to the company\u2019s earnings release (pdf). The EGX- and LSE-listed snackfood manufacturer saw its net income in 4Q2020 grow 16% y-o-y, \u201csupported by gross prof. for the period, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560401","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-earnings-watch","tag-edita","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"19ac1660-b1bf-40de-8e41-2dd2f5234495","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[560384],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: Edita reports 2020 results - 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\/02\/25\/earnings-watch-edita-reports-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Edita reports 2020 results\" \/>\n<meta property=\"og:description\" content=\"Edita bottom line recovers from post-covid lockdown in the back half of 2020: Edita recorded EGP 302.2 mn in net income during 2020, down 16.6% y-o-y, according to the company\u2019s earnings release (pdf). 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