{"id":581936,"date":"2023-03-01T00:00:00","date_gmt":"2023-03-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/01\/it-was-a-record-year-for-snack-food-giant-edita\/"},"modified":"2023-03-01T00:00:00","modified_gmt":"2023-03-01T00:00:00","slug":"it-was-a-record-year-for-snack-food-giant-edita","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/01\/it-was-a-record-year-for-snack-food-giant-edita\/","title":{"rendered":"It was a record year for snack food giant Edita"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Snack food maker Edita Food Industries reported record net income and revenues <\/span><span style=\"font-weight:700\">in 2022<\/span><span style=\"\"> on the back of stronger sales and higher prices, according to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Edita-4Q2022-ER-E-FINAL.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span style=\"font-weight:400;\">. The company\u2019s net income more than doubled during the year to EGP 959.4 mn, while revenues rose almost 50% to EGP 7.7 bn. The snack maker reported EGP 329.3 mn in net income in the final quarter of the year, up 69% y-o-y. Revenues in the October-December period were up 64% y-o-y to EGP 2.5 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Higher prices didn\u2019t dent demand: <\/span><span style=\"font-weight:400;\">Sales volumes rose 22% during 2022 despite the company hiking average per-pack prices by almost 20% in response to surging input costs, which increased by almost 50%. The cakes segment continued to be the company\u2019s biggest moneymaker, accounting for almost 50% of revenues and finishing the year as the largest contributor to volume growth.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said:<\/span><span style=\"\"> \u201cEdita\u2019s FY2022 revenue exceeded the initial forecasted budget and crossed the EGP 7.6 bn mark despite a challenging operating environment,\u201d it said.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 7.7 bn. The snack maker [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581937,"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":[409,191,72,6329,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-edita","tag-enterpriseam","tag-fb","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"4fc208ec-06f1-430f-95c9-26ae67927fd8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/Edita-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581921],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.61268b67-c815-43dd-9225-894c3bb9f010.mp3"},"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>It was a record year for snack food giant Edita - 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\/2023\/03\/01\/it-was-a-record-year-for-snack-food-giant-edita\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It was a record year for snack food giant Edita\" \/>\n<meta property=\"og:description\" content=\"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 7.7 bn. 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The company said that bottom line growth \u201creflected improved performance down the income statement\u201d, with revenues jumping 34% y-o-y to EGP 1.56 bn, backed by strong performance\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\/2022\/5\/195.jpg?fit=%2C&ssl=1&resize=350%2C200","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":581936,"position":1},"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":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":581936,"position":2},"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":[]},{"id":597953,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/earnings-watch-edita-mnhd-report-1q2019-results\/","url_meta":{"origin":581936,"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":573394,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/04\/earnings-watch-edita-mm-group-report-1h2020-results\/","url_meta":{"origin":581936,"position":4},"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":594503,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/31\/earnings-watch-edita-net-profit-jumps-19-2-in-3q2019\/","url_meta":{"origin":581936,"position":5},"title":"Earnings watch: Edita net profit jumps 19.2% in 3Q2019","author":"enterpriseam admin","date":"31 October 2019","format":false,"excerpt":"EARNINGS WATCH- Edita net profit jumps 19.2% y-o-y in 3Q2019: Leading snack food maker Edita\u2019s net profit rose 19.2% y-o-y in the third quarter to EGP 106.6 mn, according to the company\u2019s earnings release (pdf). Revenues for the quarter reached EGP 1.09 bn, up 7% 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\/581936","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=581936"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581936\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/581921"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/581937"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=581936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=581936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=581936"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=581936"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=581936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}