REG - Edita Food Ind SAE - Edita reports 2Q2025
11/08/2025 16:15
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RNS Number : 8591U Edita Food Industries S.A.E. 11 August 2025
Cairo, 11 August 2025
Edita Food Industries Reports 2Q2025 Earnings
Edita reports 22.2% year-on-year revenue growth to EGP 5.0 billion in 2Q2025,
with bottom-line climbing 72.1% to EGP 539.0 million, driven by portfolio
optimization, price point migration, and strong margin recovery.
Highlights of 2Q2025
Summary Income Statement (EGP mn)
EGP mn 2Q2025 2Q2024 Change 1H2025 1H2024 Change
Revenue 4,963.7 4,061.7 22.2% 9,247.1 7,989.1 15.7%
Gross Profit 1,646.3 1,171.2 40.6% 2,999.6 2,372.8 26.4%
% Margin 33.2% 28.8% 32.4% 29.7%
EBITDA 902.0 618.5 45.8% 1,596.8 1,291.7 23.6%
% Margin 18.2% 15.2% 17.3% 16.2%
Net Profit 539.0 313.3 72.1% 920.0 749.6 22.7%
% Margin 10.9% 7.7% 9.9% 9.4%
The discussion and analysis in this report are based on the IFRS statements.
Results in a Nutshell
Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange), a leader in
the Egyptian packaged snack food market, announced today its results for the
quarter and period ended 30 June 2025. Consolidated revenues grew 22.2% y-o-y
to reach EGP 5.0 billion in 2Q 2025, driven by continued portfolio
optimization efforts underpinned by proactive price migration initiatives
across all business segments. Gross profit increased 40.6% y-o-y to EGP 1.6
billion, with gross profit margin expanding to 33.2%, while EBITDA rose 45.8%
y-o-y to EGP 902.0 million, yielding an EBITDA margin of 18.2%. Net profit
surged 72.1% y-o-y to EGP 539.0 million, with a net margin of 10.9%, supported
by strong top-line growth, improved operational profitability on the back of
cost efficiencies, as well as higher interest income booked during the
quarter. On a quarter-on-quarter basis, Edita witnessed notable improvement
across all profitability levels, with the gross, EBITDA, and net margins
increasing compared to 1Q2025. The quarter-on-quarter enhancement in
profitability was further supported by the recovery in volumes achieved during
the quarter.
On a six-months basis, revenues grew 15.7% y-o-y to EGP 9.2 billion, while net
profit rose 22.7% y-o-y to EGP 920.0 million, with a margin of 9.9% versus
9.4% in 1H2024
Edita's strong business model and strategic oversight have enabled it to
effectively navigate ongoing macroeconomic pressures, primarily through
disciplined portfolio rationalization and a well-executed price migration
strategy. Building on this foundation, Edita is witnessing a sustained
recovery in volumes, with solid quarter-on-quarter growth recorded in 2Q2025,
marking an encouraging inflection point in the company's post-devaluation
volume performance trajectory. During the second quarter of 2025, revenue grew
22.2% y-o-y to EGP 5.0 billion, driven by a 38.4% y-o-y increase in the
average price per pack to EGP 5.48. The average price per ton also increased
by 11.0% y-o-y during the quarter. This more than offset an 11.7% decline in
total packs sold, which recorded 905 million for the period. It is important
to note that volumes continued to witness solid quarter-on-quarter recovery,
with total packs sold increasing by 6.9% q-o-q compared to 1Q 2025, indicating
sustained improvements. At the segmental level, Edita reported strong
year-on-year volume growth across its nascent segments, with candy and
biscuits increasing by 35.6% y-o-y and 18.9% y-o-y, respectively during 2Q
2025. Compared to 1Q 2025, Edita's core segments, posted solid
quarter-on-quarter volume growth, with bakery and rusks posting notable
increases of 47.6% q-o-q and 34.5% q-o-q, respectively.
In 1H2025, the average price per pack increased by 41.9% y-o-y to EGP 5.28,
and the average price per ton increased by 21.6% y-o-y, while total packs sold
declined 18.4% y-o-y, totaling 1,752 million during the six-month period.
In 2Q2025, Edita's gross profit rose 40.6% y-o-y to EGP 1.6 billion, with the
gross margin expanding to 33.2% from 28.8% in 2Q2024, reflecting strong
revenue growth, underpinned by successful pricing strategies, coupled with
operational efficiency and cost optimization. COGS grew by 12.7% y-o-y to EGP
2.8 billion, reflecting higher raw material prices and increased production
and manufacturing overhead (MOH) costs. As a percentage of sales, COGS stood
at 56.1% in 2Q2025, down from 60.9% in the same quarter last year. Meanwhile,
MOH as a percentage of sales inched up to 9.5%, compared to 9.0% in2Q2024. On
a six-months basis, gross profit grew 26.4% y-o-y to EGP 3.0 billion with the
gross margin expanding to 32.4%, up from the 29.7% recorded in the first half
of 2024.
Total SG&A expenses rose to EGP 819.5 million in 2Q2025, up 32.1% y-o-y,
reflecting a 33.7% increase in selling and distribution expenses as well as a
40.3% y-o-y increase in marketing spending, as the company continues to focus
on expanding its distribution network, while boosting product visibility and
enhancing market reach. As a result, SG&A as a percentage of sales
increased to 16.5% compared to 15.3% in 2Q2024. Year-to-date, SG&A
expenses grew 29.2% y-o-y to EGP 1.5 billion, accounting for 16.7% of sales
compared to 15.0% in 1H2024.
EBITDA for the three-month period reached EGP 902.0 million, up 45.8% y-o-y,
with an associated margin of 18.2%, up from 15.2% in 2Q2024. For the first
half, EBITDA rose by 23.6% y-o-y totaling EGP 1.6 billion with a margin of
17.3%, up from 16.2% in 1H2024.
In 2Q2025, net profit surged 72.1% y-o-y to reach to EGP 539.0 million, with
the net profit margin expanding to 10.9% compared to 7.7% in 2Q2024. Higher
net profitability was driven by strong top-line growth, improved operational
profitability on the back of enhanced cost efficiencies, as well as higher
interest income booked during the quarter, supported by a favorable interest
rate environment. Compared to 1Q2025, net profitability witnessed significant
quarter-on-quarter improvement with net profit margin expanding to 10.9 in
2Q2025, up from 8.9% in the previous quarter. On a first-half basis, net
profit recorded EGP 920.0 million with a net margin of 9.9% versus 9.4% during
the corresponding period last year.
On the regional front, Edita Morocco recorded EGP 153.8 million in revenues
for 2Q2025, up 44.3% y-o-y, following the deployment of a dedicated retail
sales force, as part of Edita Morocco's efforts to deepen its presence in the
local retail market. In local currency terms, the company closed the first
half of 2025 with a solid 6% year-on-year increase in sales.
Net export sales recorded EGP 451.0 million in 2Q2025, marking a 47.7% y-o-y
increase.
Operational Developments
Throughout the first half of 2025, Edita continued to enhance its portfolio
through introducing higher-value propositions and optimizing its product mix
toward higher price points.
During the second quarter, Edita expanded its Molto King range, through
introducing a new biscuit spread flavor priced at EGP 20. A particular focus
was placed on large and family-sized packs across brands, in line with Edita's
ongoing efforts to migrate consumers toward higher price tiers. Within the
TODO brand, Edita rolled out new biscuit spread flavors, entering the EGP 15
price tier. In the candy segment, the company introduced upsized Fakka 220
packs across Dolce, Bon Bon, and Jellix, all positioned within higher price
tiers. Similarly, the Oniro range saw the launch of an upsized Oniro Teabix in
June 2025, an 18-piece pack priced at EGP 10.
Edita also continued to strengthen its presence in high-potential segments
during the second quarter of the year. In May 2025, Edita Frozen Food
Industries ventured into the food service sector, launching a new range of
frozen croissants, viennoiseries, and breads tailored for hotels, restaurants,
and cafés, strategically targeting the underserved B2B market. The launch is
backed by Edita's strong cold-chain infrastructure, ensuring reliable
nationwide delivery and meeting the demands of professional kitchens.
In Morocco, Edita made progress in expanding its local operations. The
deployment of a dedicated retail sales force has considerably enhanced Edita
Morocco's route-to-market capabilities, enabling deeper market penetration and
coverage. At the portfolio level, Edita Morocco continued to expand its HOHOs
range, through launching new and unique flavors. Additionally, Freska was
recently introduced to the Moroccan market via import from Egypt.
Overview of Segment Performance
In 2Q2025, Edita reported consolidated revenue of EGP 5.0 billion, marking a
22.2% year-on-year increase, supported by a 38.4% increase in average price
per pack, which helped offset an 11.7% decline in total packs sold during the
quarter. The cake segment remained the primary contributor, generating EGP 2.6
billion in revenue, up 22.6%, fueled by a 43.3% rise in average price per pack
despite a 14.4% drop in packs sold. Bakery revenue rose 20.9% to EGP 1.4
billion, supported by a 20.8% increase in average price per pack, with steady
volume levels. Wafers grew 4.8% to EGP 471.8 million, driven by a 42.7% rise
in pricing, which offset a 26.6% decline in volumes. Rusks posted EGP 269.1
million in revenue, up 67.1%, supported by a 54.9% increase in average price
per pack combined with a 7.9% rise in volumes. Candy revenue rose 12.1%
year-on-year to EGP 127.8 million, supported by a 35.6% increase in packs sold
which partially offset a 17.3% drop in average price per pack. Biscuits
recorded a 49.3% increase in revenue to EGP 57.1 million, supported by an
18.9% rise in volumes and a 25.5% increase in average price. The frozen
segment declined 17.2% to EGP 17.1 million, as a 48.7% drop in volumes
outweighed a 61.3% increase in price per pack.
In 1H2025, Edita's consolidated revenue increased by 15.7% y-o-y, supported by
a 41.9% rise in average price per pack, which offset an 18.4% decline in total
volumes. Cakes grew by 18.6%, driven by a 48.3% increase in pricing despite a
20.1% drop in volumes. Bakery rose 5.3%, as a 32.6% price increase offset a
20.5% volume decline. Wafers was up 8.4%, supported by a 41.1% rise in price
per pack, offsetting a 22.6% drop in volumes. Rusks grew 39.8%, with a 54.4%
increase in pricing against a 9.9% decline in volumes. Candy rose 2.1%,
supported by a 12.1% increase in volumes, with average price dopping by 8.8%,
while biscuits surged 138.5%, supported by 82.7% volume growth and a 29.2%
rise in pricing. The frozen segment declined 17.7%, weighed by a 55.4% drop in
volumes, despite an 84.5% increase in average price per pack.
Gross Profit Margin by Product Segment
In 2Q2025, Edita's consolidated gross profit increased by 40.6% y-o-y to EGP
1.6 billion, fuelled by strong revenue growth on the back of successful
pricing strategies. During the second quarter of the year, the gross profit
margin expanded to 33.2% from 28.8% in 2Q2024, reflecting operational
efficiency and improved cost structures. On a segment basis, the cakes' gross
profit grew 48.5% y-o-y reaching EGP 938.7 million with the gross profit
margin (GPM) expanding to 35.7%, up from 29.5% in 2Q2024. The bakery segment
delivered a 31.1% y-o-y increase in gross profit to EGP 439.6 million in
2Q2025, with an improved GPM of 32.1% compared to 29.6% in 2Q2024. At the
wafer segment, gross profit increased 24.8% y-o-y to EGP 164.6 million,
yielding a GPM of 34.9%, up from 29.3% in 2Q2024. Gross profit in the rusks
segment grew by an impressive 115.0% y-o-y to EGP 77.6 million in 2Q2025, with
an associated GPM of 28.8% versus 22.4% in 2Q2024. Meanwhile, the candy
segment showed a 14.6% y-o-y decline in gross profit to reach EGP 28.6
million, with the GPM contracting to 22.4% compared to 29.4% in the same
period last year. At the biscuits segment, gross profit recorded EGP 3.5
million in gross profit during the quarter, marking a 20.5% y-o-y decline and
with a lower GPM of 6.1% versus 11.6% in 2Q2024.
In 1H2025, Edita recorded strong gross profit growth across nearly all
segments, fuelled by strong revenue growth on the back of successful pricing
strategies. Total gross profit increased by 26.4% y-o-y to EGP 3.0 billion,
with the consolidated GPM expanding to 32.4%, up from 29.7% in 1H2024. Core
segments, namely Cakes, Bakery, and Wafers, delivered solid growth, with Cakes
increasing by 28.0% y-o-y to EGP 1.7 billion, Bakery by 25.2% to EGP 724.6
million, and Wafers by 13.0% to EGP 329.5 million. Margins also improved,
reaching 34.9% for Cakes (vs. 32.3%), 31.4% for Bakery (vs. 26.4%), and 32.2%
for Wafers (vs. 30.9%). Additionally, Candy recorded a 214.7% y-o-y increase
in gross profit to EGP 42.8 million, with the GPM improving to 23.1% from
17.5%, while Biscuits rose by 73.1% to EGP 127.2 million, with margin up to
27.9% from 22.7%. Rusks booked a gross loss of EGP 18.0 million, compared to a
loss of EGP 3.4 million in 1H2024.
Revenue and Gross Profitability by Segment
EGP mn 2Q2025 2Q2024 Change 1H2025 1H2024 Change
Cakes
Revenue 2,631.4 2,145.8 22.6% 4,932.5 4,158.3 18.6%
Gross Profit 938.7 632.2 48.5% 1,721.3 1,344.5 28.0%
Gross Profit Margin 35.7% 29.5% 6.2pts 34.9% 32.3% 2.6pts
Bakery
Revenue 1,368.3 1,131.7 20.9% 2,305.5 2,189.4 5.3%
Gross Profit 439.6 335.2 31.1% 724.6 578.9 25.2%
Gross Profit Margin 32.1% 29.6% 2.5pts 31.4% 26.4% 5.0pts
Wafers
Revenue 471.8 450.4 4.8% 1,023.0 943.3 8.4%
Gross Profit 164.6 131.9 24.8% 329.5 291.6 13.0%
Gross Profit Margin 34.9% 29.3% 5.6pts 32.2% 30.9% 1.3pts
Rusks
Revenue 269.1 161.0 67.1% 456.4 326.4 39.8%
Gross Profit 77.6 36.1 115.0% 127.2 74.0 71.9%
Gross Profit Margin 28.8% 22.4% 6.4pts 27.9% 22.7% 5.2pts
Candy
Revenue 127.8 114.0 12.1% 256.0 250.7 2.1%
Gross Profit 28.6 33.5 -14.6% 64.4 73.5 -12.4%
Gross Profit Margin 22.4% 29.4% -7.0pts 25.2% 29.3% -4.1pts
Biscuits
Revenue 57.1 38.2 49.3% 185.1 77.6 138.5%
Gross Profit 3.5 4.4 -20.5% 42.8 13.6 214.7%
Gross Profit Margin 6.1% 11.6% -5.5pts 23.1% 17.5% 5.6pts
Frozen
Revenue 17.1 20.6 -17.2% 35.8 43.5 -17.7%
Gross Profit (loss) (8.5) (2.1) 304.8% (18.0) (3.4) 429.4%
Gross Profit Margin -49.8% -10.2% -39.6pts -50.3% -7.8% -42.5pts
Total Revenues* 4,963.7 4,061.7 22.2% 9,247.1 7,989.1 15.7%
Total Gross Profit* 1,646.3 1,171.2 40.6% 2,999.6 2,372.8 26.4%
Total GPM 33.2% 28.8% 4.4pts 32.4% 29.7% 2.7pts
*Includes contributions from Edita's imports segment
Segment Volumes and Prices
EGP 2Q2025 2Q2024 Change 1H2025 1H2024 Change
Cakes
Packs (mn) 554 648 -14.4% 1069 1337 -20.1%
Tons (000s) 19.3 18.0 6.9% 36.3 37.6 -3.6%
Av. Price (EGP) 4.75 3.31 43.3% 4.61 3.11 48.3%
Bakery
Packs (mn) 174 174 0.1% 292 368 -20.5%
Tons (000s) 10.6 9.3 14.2% 17.7 20.3 -12.8%
Av. Price (EGP) 7.85 6.50 20.8% 7.90 5.96 32.6%
Wafers
Packs (mn) 108 147 -26.6% 248 320 -22.6%
Tons (000s) 2.7 2.9 -8.0% 5.9 6.6 -10.7%
Av. Price (EGP) 4.37 3.06 42.7% 4.16 2.95 41.1%
Rusks
Packs (mn) 34 31 7.9% 58 65 -9.9%
Tons (000s) 1.9 1.2 60.9% 3.3 2.6 23.9%
Av. Price (EGP) 8.03 5.18 54.9% 7.77 5.03 54.4%
Candy
Packs (mn) 21 16 35.6% 43 38 12.1%
Tons (000s) 1.0 0.8 18.3% 2.0 2.0 0.6%
Av. Price (EGP) 6.07 7.33 -17.3% 5.97 6.54 -8.8%
Biscuits
Packs (mn) 11 10 18.9% 36 20 82.7%
Tons (000s) 0.4 0.3 38.6% 1.4 0.6 123.3%
Av. Price (EGP) 4.98 3.97 25.5% 5.11 3.96 29.2%
Frozen
Packs (mn) 0.2 0.4 -48.7% 0.4 1.0 -55.4%
Tons (000s) 0.1 0.1 -28.0% 0.2 0.3 -35.1%
Av. Price (EGP) 84.12 52.15 61.3% 81.17 43.99 84.5%
Total Packs* (mn) 905 1025 -11.7% 1752 2149 -18.4%
Total Tons* (000s) 35.9 32.6 10.1% 66.7 70.0 -4.8%
Av. Price/Pack (EGP) 5.48 3.96 38.4% 5.28 3.72 41.9%
*Includes contributions from Edita's imports segment
Balance Sheet
The company's total loans and borrowings as at 30 June 2025 stood at EGP
3,821.7 million, up from EGP 3,468.2 million as at 31 December 2024. Total
bank overdrafts recorded EGP 702.9 million as at 30 June 2025 versus EGP 808.4
recorded at the end of 2024. Cash balance stood at EGP 3,432.5 million as at
30 June 2025 up from EGP 1,324.2 million as at year-end 2024. Edita recorded a
net debt of EGP 389.2 million as at 30 June 2025 compared to EGP 2,144.0
million in net debt as at 31 December 2024.
Edita booked inventories of EGP 2,027.6 million as at 30 June 2025, down from
3,034.0 million as at 31 December 2024. Meanwhile, trade and notes receivable
stood at EGP EGP 197.3 million as at 30 June 2025, compared to EGP 174.8
million as at 31 December 2024.
Total CAPEX for the period ending 30 June 2025 amounted to EGP 458.2 million,
primarily allocated to expansion-related investments, with additional
expenditures for maintenance and distribution vehicles.
Egyptian Accounting Standards Reconciliation to IFRS
Edita's EAS and IFRS financial statements differ in the treatment of
employees' profit share, which is expensed under the IFRS, while the EAS
accounts for them as a distribution and are thus not included on the income
statement. Also, EAS and IFRS differ in the calculation of EBITDA. In 1H2025,
EGP 16.8 million in FX gains as well as an FA gain and profit share deduction
amounting to EGP 102.8 million were subtracted from EBITDA, bringing total EAS
to IFRS adjustments on EBITDA to EGP 119.5 million. A reconciliation between
Edita's financial statements in EAS with the IFRS-based financial statements
for 1H2025 is provided in the table below.
in EGP mn* 1H2025 EAS Adjustments 1H2025 IFRS
Net Sales 9,247.1 - 9,247.1
COGS (excluding MOH) 5,194.7 - 5,194.7
MOH 873.2 (37.7) 910.9
Total 6,068.0 6,105.7
Gross Profit 3,036.6 37.0 2,999.6
Selling & Distribution Exp. 490.9 (25.5) 516.5
Advertising & Marketing Exp. 344.7 - 344.7
General & Admin. Exp. 646.8 (35.5) 682.3
Other Operational Exp. 91.8 0.4 91.4
Profit from Operations 1,462.4 97.6 1,364.8
Profit from Operations Margin 15.8% 14.8%
Lease Finance Interest (1.8) - (1.8)
Profit Before Income Tax 1,372.4 97.7 1,274.7
Income Tax Expense 354.7 - 354.7
Net Profit After Tax 1,017.7 97.7 920.0
EBITDA 1,716.3 119.5 1,596.8
EBITDA Margin 18.6% 17.3%
*Figures are based on management accounts for better disclosure on expenses
breakdown
-Ends-
About Edita Food Industries
Edita, founded in 1996 and headquartered in Egypt, is a leader in the growing
Egyptian packaged snack food market. The Company manufactures, markets and
distributes a range of branded baked snack products including packaged cakes,
bakery, rusks (baked wheat), wafers and biscuits as well as selected
confectionary/candy products. The Company's local brand portfolio includes
household names such as TODO, Molto, Bake Rolz, Bake Stix, Freska, Oniro and
MiMix. The Company also has the exclusive ownership of the international
Hostess brands Twinkies, HOHO's and Tiger Tail in Egypt, Libya, Jordan,
Palestine, Morocco, Algeria, Tunisia, Syria, Lebanon, Iraq, Bahrain, Oman, the
UAE, Kuwait, Qatar and Saudi Arabia; and is party to a technical assistance
and know-how agreement to manufacture 11 additional Hostess brands across its
territories. The Company holds strong number-one market positions in its core
cake and bakery segments as well as in rusks, a leading market position in
candy and a growing market position in the wafers segment. In 2Q2025, the
Company derived 90.9% of its revenue from Egypt and 9.1% from regional export
markets. Learn more at ir.edita.com.eg.
Contacts
Ms. Menna Shams El Din
Chief Investment Officer & Corporate Affairs
T: +202 3851-6464 | M: +2010 0 154 2428 | menna.shamseldin@edita.com.eg
(mailto:menna.shamseldin@edita.com.eg)
Forward-Looking Statements
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and regulatory conditions and other matters affecting the Company.
Forward-looking statements reflect the current views of the Company's
management ("Management") on future events, which are based on the assumptions
of the Management and involve known and unknown risks, uncertainties and other
factors that may cause the Company's actual results, performance, or
achievements to be materially different from any future results, performance
or achievements expressed or implied by these forward-looking statements. The
occurrence or non-occurrence of an assumption could cause the Company's actual
financial condition and results of operations to differ materially from, or
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The Company's business is subject to a number of risks and uncertainties that
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