{"id":655918,"date":"2024-11-26T00:00:00","date_gmt":"2024-11-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/26\/edita-sees-revenues-rise-25-5-y-o-y-in-3q\/"},"modified":"2024-11-26T00:00:00","modified_gmt":"2024-11-26T00:00:00","slug":"edita-sees-revenues-rise-25-5-y-o-y-in-3q","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/26\/edita-sees-revenues-rise-25-5-y-o-y-in-3q\/","title":{"rendered":"Edita sees revenues rise 25.5% y-o-y in 3Q"},"content":{"rendered":"

Revenues up, incomes down for Edita in 3Q: <\/strong>Edita Food Industries saw its revenues rise by 25.5% y-o-y to EGP 3.9 bn during the third quarter of the year driven by a \u201cprice point migration strategy implemented to mitigate cost pressures\u201d following the EGP float that saw average price per pack of its good sold rise around 50%, <\/strong>the local snackmaker said in its latest earnings release (pdf)<\/a>. Despite the rise in revenues, net income was down 15.9% y-o-y to EGP 357 mn during the same period.<\/p>\n

The country\u2019s sweet tooth helped drive the company\u2019s topline<\/strong>, with the company\u2019s cake segment revenues rising 27.6% y-o-y to EGP 1.9 bn and accounting for 48.9% of total revenues, which the company attributed to higher prices. In second place was the company\u2019s bakery segment that brought in EGP 1.3 bn, up 11.3% y-o-y and accounting for 33.0% of total sales.<\/p>\n

The company\u2019s smaller segments grew the most during the period<\/strong>, with its biscuits segment rising 126.4% y-o-y in the quarter to EGP 34.6 mn in the quarter, alongside wafers that rose 50.9% y-o-y to EFP 353.7 mn and rusks that increased 52.0% y-o-y to EGP 198.8 mn.<\/p>\n

On a 9M basis,<\/strong> Edita's revenues grew by 36.0% y-o-y to EGP 11.9 bn, which the firm said was driven by its \u201cdiversification strategy, focus on high-value propositions, and expansion into smaller segments,\u201d the company said in an accompanying press release (pdf)<\/a>. The company\u2019s net income fell by 6.4% during the period.<\/p>\n

Exports are becoming increasingly important to the snackmaker<\/strong>, with export sales rising 71.9% in the quarter to EGP 533.1 mn on the back of strong demand in Palestine, Libya, Iraq, and Jordan, which collectively account for 87% of the company\u2019s exports. Exports accounted for 13.8% of total revenues, a 3.8 percentage point increase from the same period last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The firm\u2019s revenues were driven by its \u201cdiversification strategy, focus on high-value propositions, and expansion into smaller segments\u201d<\/p>\n","protected":false},"author":1,"featured_media":655919,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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-655918","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":"2b24e27c-74da-4093-9969-3fe27b6d1d96","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2414.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Edita sees revenues rise 25.5% y-o-y in 3Q","related_issue":[655905],"teaser":"The firm\u2019s revenues were driven by its \u201cdiversification strategy, focus on high-value propositions, and expansion into smaller segments\u201d","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.fe59873c-215d-484b-9104-639e45fefb91.mp3"},"yoast_head":"\nEdita sees revenues rise 25.5% y-o-y in 3Q - 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Real estate players continued to post strong results, as have food, investment, automotive, consumer finance and payments players. Here\u2019s the rundown:EDITA Edita Food Industries reported record net income and revenues in 3Q 2022 on the back of stronger\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\/2022\/11\/241.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546422,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/earnings-edita-abk-egypt\/","url_meta":{"origin":655918,"position":1},"title":"Earnings: Edita, ABK Egypt","author":"enterpriseam admin","date":"16 May 2022","format":false,"excerpt":"Edita Food Industries\u2019 net income rose 86% y-o-y in 1Q 2022 to EGP 148.1 mn, according to the company\u2019s latest earnings release (pdf). 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 "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\/2022\/5\/195.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560401,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/25\/earnings-watch-edita-reports-2020-results\/","url_meta":{"origin":655918,"position":2},"title":"Earnings watch: Edita reports 2020 results","author":"enterpriseam admin","date":"25 February 2021","format":false,"excerpt":"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\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\/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":655918,"position":3},"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 "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":597953,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/earnings-watch-edita-mnhd-report-1q2019-results\/","url_meta":{"origin":655918,"position":4},"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 "Speed Round"","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":655918,"position":5},"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 "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\/5\/1639.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655918","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=655918"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655918\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/655905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/655919"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=655918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=655918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=655918"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=655918"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=655918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}