Recent Research

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  FIRST LOOK NOTES

  04 Mar 2025

  Agthia Group

  BUY

  Last Closing Price

  AED 4.76

  Target Price

  AED 8.00

  Upside (%)

  +68.07%

  UAE Equity Research - Agthia Group 4Q24 - First Look Note

  AGTHIA’s revenue rose marginally by 1.3% YOY to AED 1,307 Mn in 4Q24 primarily driven by growth in Snacking and Water & Food segment, partially offset by a decline in revenue of the Protein & Frozen segment as well as Agri-Business segment.

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  EARNINGS CALL INSIGHT

  04 Mar 2025

  Agthia Group

  BUY

  Last Closing Price

  AED 4.76

  Target Price

  AED 8.00

  Upside (%)

  +68.07%

  UAE Equity Research - Agthia Group 4Q24 - Earnings Call Insight

  Agthia Group’s revenue rose marginally by 1.3% YOY to AED 1,307 Mn in 4Q24 primarily driven by growth in Snacking and Water & Food segment, partially offset by a decline in revenue of the Protein & Frozen segment as well as Agri-Business segment. Direct cost grew higher than revenue by 3.2% YOY to AED 921 Mn in 4Q24.

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• 

  FIRST LOOK NOTES

  15 Nov 2024

  Agthia Group

  HOLD

  Last Closing Price

  AED 7.03

  Target Price

  AED 8.00

  Upside (%)

  +13.80%

  UAE Equity Research - Agthia Group 3Q24 - First Look Note

  Maintained its guidance for FY2024 with expected revenue growth of 10-12%, expansion in EBITDA margin of 40-60 bps, and a net profit margin of 30-50 bps. The company launched a new B2B Customer Portal and development and integration of AI technologies marking its progress toward digital transformation.

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  EARNINGS CALL INSIGHT

  13 Nov 2024

  Agthia Group

  HOLD

  Last Closing Price

  AED 7.32

  Target Price

  AED 8.00

  Upside (%)

  +9.29%

  UAE Equity Research - Agthia Group 3Q24 - Earnings Call Insight

  Agthia Group’s revenue rose marginally by 1.1% YOY to AED 1,082 Mn in 3Q24 primarily driven by strong growth in Water & Food Segment with marginal growth in Snacking & Agri-Business, partially offset by a decline in revenue of the Protein & Frozen Segment due to EGP devaluation.

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• 

  FIRST LOOK NOTES

  12 Oct 2024

  Agthia Group

  ACCUMULATE

  Last Closing Price

  AED 6.83

  Target Price

  AED 7.60

  Upside (%)

  +11.27%

  New product launches and margin expansion supported bottom-line

  The Company maintained its guidance for FY2024 with an expected revenue growth of 10-12%, expansion in EBITDA margin of 40-60 bps, and a net profit margin of 30-50 bps.

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• 

  FIRST LOOK NOTES

  10 Jun 2024

  Agthia Group

  HOLD

  Last Closing Price

  AED 5.77

  Target Price

  AED 6.12

  Upside (%)

  +6.07%

  Strong revenue growth led by one-off trading sales supported profitability

  Excluding one-off commodity trading sales in the Agri-business segment, the Company’s net revenue grew 12.4% YOY in 1Q24

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