REG - Edita Food Ind SAE - Edita's repricing strategy

Edita Food Industries SAEAnnouncement

23/03/2022 08:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220323:nRSW7391Fa&default-theme=true

RNS Number : 7391F  Edita Food Industries S.A.E.  23 March 2022

Edita Food Industries announces additional price increases in bakery and wafer
segments

 

Cairo, 23 March 2022

Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFID.L on
the London Stock Exchange), a leader in the Egyptian packaged snack food
market, announced today that it has instituted further price increases at its
bakery and wafer segments. Bakery products previously priced at EGP 4.0 per
pack have been repriced at EGP 5.0 per pack, while most bakery products priced
at EGP 5.0 per pack have been repriced at EGP 7.0 per pack. Meanwhile, Freska
wafer bars priced at EGP 2.0 per pack have been repriced at EGP 3.0 per pack.

 

-Ends-

 

 

 

About Edita Food Industries S.A.E.

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 HTT
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 HTT brands across its
territories. The Company holds strong number-one market positions in its core
cake and bakery segments as well as in candy, a number-two market position in
rusks and a growing market position in the wafers segment. In FY2021, the
Company derived 94.1% of its revenue from Egypt and 5.9% from regional export
markets. Learn more at ir.edita.com.eg.

Contacts

Ms. Menna Shams El Din

Head of Investor Relations

T: +202 3851-6464 | M: +2010 0 154 2428 | menna.shamseldin@edita.com.eg
(mailto:menna.shamseldin@edita.com.eg)

 

Forward-Looking Statements

This communication contains certain forward-looking statements. A
forward-looking statement is any statement that does not relate to historical
facts and events, and can be identified by the use of such words and phrases
as "according to estimates", "aims", "anticipates", "assumes", "believes",
"could", "estimates", "expects", "forecasts", "intends", "is of the opinion",
"may", "plans", "potential", "predicts", "projects", "should", "to the
knowledge of", "will", "would" or, in each case their negatives or other
similar expressions, which are intended to identify a statement as
forward-looking. This applies, in particular, to statements containing
information on future financial results, plans, or expectations regarding
business and management, future growth or profitability and general economic
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
fail to meet expectations expressed or implied by, such forward-looking
statements.

The Company's business is subject to a number of risks and uncertainties that
could also cause a forward-looking statement, estimate or prediction to differ
materially from those expressed or implied by the forward-looking statements
contained in this prospectus. The information, opinions and forward-looking
statements contained in this communication speak only as at its date and are
subject to change without notice. The Company does not undertake any
obligation to review, update, confirm or to release publicly any revisions to
any forward-looking statements to reflect events that occur or circumstances
that arise in relation to the content of this communication.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  STRFIFSTVIIVFIF