Edita recorded strong full year results with revenues reaching EGP 5.3 billion, up by 30.7% y-o-y with enhanced bottom-line profitability, which grew by a strong 56.5% y-o-y to EGP 473.0 million. Full year results were supported by Edita's successful repricing strategies and resilient volumes in 4Q21.

Cairo, 2^nd March 2022

Summary Unaudited Income Statement - IFRS (EGP mn)

*The figures displayed here are based on unaudited results drawn from management accounts and finance department numbers. (IFRS)

Financial and Operational Highlights

·      Impressive growth in revenues for FY2021 was driven both by higher volumes and pricing, with Edita capitalizing on its optimized and diversified product portfolio and growing consumer demand for its products.

·      Volumes for FY2021 continued to exceed pre-COVID-19 levels and reached pre-devaluation levels, exhibiting Edita's ability to drive demand at higher price-points and deliver growth despite a challenging operating environment.

·      Gross profit increased by 20.0% year-on-year in FY2021, with the Company protecting its gross profit margin with higher MOH efficiencies and portfolio optimization despite surges in raw material costs and record-high global commodity prices.

·      EBITDA was up 28.6% with a stable margin at 16.0% for FY2021, reflecting double-digit top-line growth and an improved SG&A to sales ratio.

·      The Company's bottom line expanded by a significant 56.5% y-o-y in FY2021 on the back of strong revenue growth driven by increases in volumes and average prices across segments.

·      Strong performances in the cakes, bakery, and wafers segments. Cakes and bakery were the largest contributing segments to revenues with 31.3% y-o-y and 28.0% y-o-y growth, respectively. Wafers was the fastest-growing segment for the year with an 81.6% y-o-y expansion in top line.

·      Edita commenced operations in Morocco in 4Q2021 with the launch of three SKUs of the flagship HOHOs brand.

Unaudited Revenue and Gross Profitability by Segment*

*The figures displayed here are based on unaudited results drawn from management accounts and finance department numbers. (IFRS)

**Includes contributions from Edita's imports segment

-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

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