Cairo – Mubasher: Juhayna Food Industries registered consolidated net profits after tax worth EGP 637.99 million in 2022, an annual hike of 21% from EGP 526.38 million, including non-controlling equity.
The sales amounted to EGP 11.36 billion in 2022, higher by 29% year-on-year (YoY) than EGP 8.80 billion, according to the income statements.
Earnings per share (EPS) grew to EGP 0.68 as of 31 December 2022 from EGP 0.56 a year earlier, while the total assets climbed to EGP 6.36 billion from EGP 5.45 billion.
Consolidated Results for Q4-22
During the fourth quarter (Q4) of 2022, Juhayna recorded a 351% YoY hike in net profit to EGP 164 million.
Meanwhile, the revenues enlarged by 40% to EGP 3.20 billion in Q4-22 from EGP 2.28 billion in Q4-21.
Standalone Income Statements
The company witnessed an annual drop in standalone net profit after tax to EGP 362.12 million in 2022, versus EGP 381.29 million.
Non-consolidated EPS went down to EGP 0.31 last year from EGP 0.33 during January-December 2021, whereas the total assets plunged to EGP 3.01 billion from EGP 3.28 billion.
Seif Thabet, CEO of Juhayna, said: “Despite the unprecedented challenges on the global and local fronts, our company has managed to overcome them with resilience and agility.”
Thabet added: “We have been grappling with the scarcity of foreign currency availability, double-digit inflation, and a steep decline of 57% in the value of the Egyptian Pound against the US Dollar in 2022.”
“However, our strategic vertical integration and strong relationships with global and local suppliers have allowed us to maintain an advantageous supply position in the market,” he noted.
The CEO stated: “We have also successfully expanded our core segments, gained market share, increased sales reach, and passed on price increases of over 60% during 2022, despite the formidable challenges.”
In the first nine months (9M) of 2022, Juhayna posted lower consolidated net profits at EGP 474.08 million, compared to EGP 490.19 million in 9M-21.
