Agthia Group · ADX:AGTHIA
Agthia — Q3 2025 Earnings Presentation
44 slides from Agthia's earnings presentation, Nov 6, 2025
Slide 1: Investor Presentation Q3'25 Results
Investor Presentation Q3’25 Results 6 November 2025
Slide 2: Agenda
Agenda 01 Strategic Update 03 Segment Performance 02 Key Financials 04 Q&A 2
Slide 3: Disclaimer
Disclaimer Agthia Group PJSC and its management may make 7. expected financial results; 8. sensitivity to changes in 4. various events which could disrupt operations, certain statements that constitute “forward-looking product prices; 9. sensitivity to key input prices; 10. including natural events
Slide 4: Recap: Our Strategic Vision to Become a Regional F&B Leader
Recap: Our Strategic Vision to Become a Regional F&B Leader From… To… UAE centric Footprint MENA+ & beyond Commoditized portfolio Value-add F&B brands Becoming a Regional F&B Stable financial performance Strong shareholder returns Leader Local organization mindset Consumer-centric & performance-driv
Slide 5: 9M'25: Progress on Strategic Vision – To Date
9M’25: Progress on Strategic Vision – To Date Delivering Growth Driving Efficiency Expanding Capabilities • Reported revenue declined 1.3% YoY; • Net Productivity of AED 133M in 9M’25 • Strengthened leadership team; appointed driven by 3.5% decline in pricing/mix, which President – Snacking was offs
Slide 6: Q3'25 Key Financials
j Q3’25 Key Financials agthia @ 44.4
Slide 7: Q3'25: Group Headlines
Q3’25: Group Headlines Group Revenue, AED M Group Gross Profit, AED M ▪ Revenue increased 5.0% YoY to AED ▪ Gross Profit increased 7.0% YoY +5.0% 1.1 B in Q3 2025, driven by 5.6% volume +7.0% growth, partially offset by pricing and ▪ Gross Profit Margin expanded by 57bps mix impact. to 31.5%, suppor
Slide 8: Q3'25: Group Headlines
Q3’25: Group Headlines Group Underlying EBITDA, AED M Group Underlying Net Profit, AED M ▪ Group Underlying EBITDA -5.3% YoY to -5.3% AED 146.8 M, ▪ Group Underlying Net Profit declined ▪ Group Underlying EBITDA margin -4.0% by 4.0% YoY, with a Net Profit Margin at -141bps to 12.9%, due to margin pr
Slide 9: Shift in Working Capital Structure due to Lower Utilization of Supply Chain Financing
Shift in Working Capital Structure due to Lower Utilization of Supply Chain Financing NWC and NWC as % of Sales1 Cash Conversion Cycle Key Highlights AED M CCC days • Working Capital as % of sales increased to 7.4% 12.5% 12.5%, driven by reduced utilization of Supply 45 +237 60 Chain Financing (SCF)
Slide 10: Free Cash Flow Analysis
Free Cash Flow Analysis Free Cash Flow Bridge, AED M Key Highlights FCF decreased by AED 448 M YoY, reaching negative 430 AED 18 M in 9M’25. The decline was primarily driven by: 200 • Lower utilization of Supply Chain Financing, significantly offseting the improvement in Working Capital excluding SC
Slide 11: Leverage Impacted by Operational Headwinds, M&As, and Shift Away from SCF
Leverage Impacted by Operational Headwinds, M&As, and Shift Away from SCF Net Debt / EBITDA1 Interest Coverage2 3.6x FY Dec’24 - 1.5x 4.4x FY Dec’24 – 9.4x Borrowing Capacity Avg Dividend Yield3 0.2bn FY Dec’24 – 1.7bn 4.0% FY’24 DPS = AED 0.210 11 1 Net debt as on 30 September 2025 divided by LTM E
Slide 12: Segmental Performance
Segmental Performance
Slide 13: Diversified Growing Portfolio in Large Scalable Markets
Diversified Growing Portfolio in Large Scalable Markets Diversified Revenue by Geography... …and Segments 7% 26% 28% 26% 54% 25% 21% 13% UAE Other Arab Countries Snacking Water & Food GCC excl. UAE RoW Protein & Frozen Agri-Business 13 1Based on H1’25 sales
Slide 14: Water & Food: Strong Growth Driven by UAE Water and M&A
Water & Food: Strong Growth Driven by UAE Water and M&A Revenue, AED M EBITDA, AED M Q3’25 Highlights EBITDA Margin Revenue +10.1% 16.6% 16.6% • +10.1% YoY. LFL revenue +1.5% YoY (excluding Riviere), driven by UAE water business while +9.9% international water sales were down • UAE bottled water sal
Slide 15: Agri-Business: Stable Growth While Navigating Price Pressures
Agri-Business: Stable Growth While Navigating Price Pressures Revenue, AED M EBITDA, AED M Q3’25 Highlights EBITDA Margin Revenue 20.5% 17.9% • Segment revenue +1.3 YoY +1.3% • Feed sales +0.6%, reflecting lower average -11.5% selling prices due to the commoditized nature of the category and softer
Slide 16: Snacking: Resilient Top-Line Performance with Mixed Profitability Trends
Snacking: Resilient Top-Line Performance with Mixed Profitability Trends Revenue, AED M EBITDA, AED M Q3’25 Highlights EBITDA Margin Revenue 10.6% 9.7% • Revenue increased 3.9% YoY primarily on sustained strong +3.9% performance by Abu Auf o Abu Auf delivered growth of 34.5% in AED terms, reflecting
Slide 17: Protein & Frozen: Solid Revenue Growth Amid Margin Pressure and KSA Ramp-Up
Protein & Frozen: Solid Revenue Growth Amid Margin Pressure and KSA Ramp-Up Revenue, AED M EBITDA, AED M Q3’25 Highlights EBITDA Margin Revenue 11.2% 8.6% • Revenue grew 4.9% YoY on strong performance +4.9% across businesses. o Al Ain Egypt led the segment with strong revenue growth of 24.5% YoY -18
Slide 18: Egypt: Resilient Growth Supported by Exports and Auf Retail Expansion
Egypt: Resilient Growth Supported by Exports and Auf Retail Expansion Q3’25: Resilient topline, margin held back by input cost pressure “Export Hub” Strategy Revenue, AED M EBITDA, AED M & EBITDA Margin (%) +18.8% 21.1% 17.5% AED 83.1 M Exports from Egypt in 9M’25 250 -1.2% 211 44.4 • 3.0% AED reven
Slide 19: 9M'25: Underlying Performance Snapshot
9M’ 25: Underlying Performance Snapshot Strong Underlying Performance One-Off Adjustments in 9M’25 • Revenue +5.8% YoY excluding EGP devaluation One-off adjustments reflect strategic steps to enhance long-term financial health and impact and wheat trading activity in Q1’24 accountability • Provision
Slide 20: H2'25: Our Key Priorities
H2’25: Our Key Priorities Snacking Reset Protein & Frozen Driving Underlying advancing capabilities, Business Turnaround enhancing internal controls, Business Performance and unlocking new growth transformation team in place to by reinforcing a more agile, drive market share, strengthen through expa
Slide 21: A Forward-Looking Company
A Forward-Looking Company Market leading position Growing portfolio of consumer- Growth-oriented mindset across key categories and centric brands in large, scalable focused on leveraging synergies, geographies markets innovation and digitization Attractive economics with clear Financial strength Exp
Slide 22: Q&A
Q&A
Slide 23: Appendix
ie Better’ - nea Aliso A . acs > ppe ndix | // ate
Slide 24: 9M'25 Segment Performance
9M’25 Segment Performance Snacking Protein & Frozen Revenue, AED M EBITDA1, AED M Revenue, AED M EBITDA, AED M -1.3% YoY -72.0% YoY, EBITDA1 margin -1,269bps -4.5% YoY -37.6% YoY, EBITDA margin -427bps 997 984 774 740 95 177 60 49 -23 9M'24 9M'25 9M'24 9M'25 9M'24 9M'25 9M'24 9M'25 Water & Food Agri
Slide 25: BoD Recommended to Maintain Interim Dividends at 10.31 Fils per Share
BoD Recommended to Maintain Interim Dividends at 10.31 Fils per Share +5% bonus shares 32% 35% 44% 43% 66% 85%1 58% 53% 56% 60% 48% 98% Dividend payout % 0.2103 0.185 = 0.165 0.165 0.165 0.150 0.150 0.150 0.150 0.125 Dividends 0.1031 0.1031 per share (AED) 2015 2016 2017 2018 2019 2020 2021 2022 202
Slide 26: 9M'25: Over AED 127M in Revenue Generated from Strategic Product Innovation
9M’25: Over AED 127M in Revenue Generated from Strategic Product Innovation Snacking Protein & Frozen Veg Agri-Business Abu Auf: New Mazag-brand Turkish coffee blend Egypt: New flavors and varieties of chicken strips Flour: New Mushattalt tailored for the HORECA and catering segment, as well as new
Slide 27: Protein & Frozen: Expanding Capabilities and Portfolio Optimization
Protein & Frozen: Expanding Capabilities and Portfolio Optimization Continuous Portfolio Optimization Smart Social Media Campaigns Expanding Capabilities in KSA Egypt: Atyab and Chicketita launched several Capitalizing on strong and strategic social media Combined KSA protein sales, including Nabil
Slide 28: Investing in Growth: Protein Expansion in KSA
Investing in Growth: Protein Expansion in KSA Project Overview ▪ Location: Jeddah, KSA ▪ Available land 9,436 sqm; Built-up area 6,600 sqm ▪ Capex c. AED 90M (Phase 1) ▪ Current capacity ≈ 3,500 tons/annum ▪ ≈ 50 SKUs (Phase 1) ▪ Phase 2: Expected launch in early 2026 with additional capacity ≈ 5,50
Slide 29: Water & Food: Strong Performance Driven by Marketing and Digitalization
Water & Food: Strong Performance Driven by Marketing and Digitalization Strong Performance of UAE Water and Food Maintaining Leadership with Customer Centricity Connecting though Effective Marketing Al Ain bottled water retaining its market Continuing to strengthen market share by: Further strengthe
Slide 30: Riviere - Leveraging Synergies with Al Ain HOS
Riviere - Leveraging Synergies with Al Ain HOS Synergies Cements Agthia’s market leadership in UAE 7% UAE household HOS market share1 household HOS with 24% combined market share1 17% UAE household HOS market share 1 Triples Agthia’s household customer base Diversified client base, comprising Primar
Slide 31: Snacking: Innovation-Led Growth, Combined with Excellent Execution and Agility in Auf
Snacking: Innovation-Led Growth, Combined with Excellent Execution and Agility in Auf Innovation Continues to Drive Growth Agility and Execution Excellence in Auf Summer Provides Platform to Engage Al Foah & BMB Innovation Synergy: Strong Results in Q3’25 Abu Auf New Freakin’ Wholesome choco- and fi
Slide 32: Agri-Business: Growing Together with Our Customers
Agri-Business: Growing Together with Our Customers Innovating to Secure Growth Grand Mills: Focus on Brand Equity Building Agrivita: Accelerated Digital Revenue Flour: • Building customer loyalty Digitalization: Agrivita app 2 new specialty products: • Branding distribution vehicles • Farmers’ Marke
Slide 33: 5-year Digital Roadmap with Clear Priorities
5-year Digital Roadmap with Clear Priorities Priority #1 Priority #2 Best Customer / Consumer Experience Empower Employees in a Collaborative Environment • Seamless omnichannel experience with optimized • Integrated business planning and cross-domain online and in-store execution collaboration • Str
Slide 34: Progress on Digital Agenda
Progress on Digital Agenda Key Achievements in 9M’25 Accelerate Digital Transformation by Adopting AI +20.7% YoY surge in e-commerce revenue, reflecting 6.2% of total revenue during 9M’25 We have partnered with the biggest players in AI to: • Predict customer inquiries, resulting in the reduction of
Slide 35: Agthia Sustainability Strategy Pillars
Agthia Sustainability Strategy Pillars Environmental Integrity Scaling Health and Wellness • 2.8% increase in absolute water consumption 9M’25 vs 9M’24 • 12.7% growth in glass bottles, sales (9M’25 vs 9M’24) • 0.03% reduction in absolute emissions 9M’25 vs 9M’24 • 24% growth in 100% rPET Bottles sal
Slide 36: Board of Directors
Board of Directors Chairman / Vice Chairman Board Member Khamis Mohamed Ms. Mariam Khalifa Sultan Salmeen Svet Ms. Caitlin Ms. Sharmila Maurizio Gil Adotevi Buharoon Al Ahmed Al Suwaidi Al Ameri Varadzhakov Nguyen Murat Patarnello Shamsi Al Remeithi Chairman Vice Chairman Managing Group Chief Managi
Slide 37: Strong Leadership Team with Track Record of Value Creation
Strong Leadership Team with Track Record of Value Creation Group Functions Business Segments Salmeen Jeroen Ramy Hala Hobeiche Abdulrahman Abdulla Mahammad Ahmad Chantal Nizar Al Ameri Nijs Merdan Katounas Al Barguthi Al Marzooqi Amro Yahya Charbel Kayali Managing Acting Director & Chief Financial C
Slide 38: Summary Profit & Loss Statement
Summary Profit & Loss Statement AED'000 FY’24 FY’23 YoY Revenue 4,914,644 4,561,210 7.7% Cost of sales -3,448,429 -3,200,212 7.8% Gross profit 1,466,215 1,360,998 7.7% Selling and distribution expenses -611,930 -577,499 6.0% General and administrative expenses -449,223 -352,081 27.6% Research and de
Slide 39: Summary Profit & Loss Statement
Summary Profit & Loss Statement AED'000 9M’25 9M’24 YoY Revenue 3,559,974 3,607,555 -1.3% Cost of sales -2,541,385 -2,527,720 -0.5% Gross profit 1,018,589 1,079,835 -5.7% Selling and distribution expenses -483,687 -458,979 -5.4% General and administrative expenses -403,563 -283,648 -42.3% Research a
Slide 40: Summary Balance Sheet Statement
Summary Balance Sheet Statement AED'000 9M’25 FY'24 FY’23 FY’22 Property, plant and equipment 1,434,148 1,428,985 1,460,821 1,446,027 Intangible assets & Goodwill 2,493,115 2,394,815 2,408,106 2,421,885 Others 162,646 138,154 128,038 104,521 Total non-current assets 4,089,909 3,961,954 3,996,965 3,9
Slide 41: Summary Cash Flow Statement
Summary Cash Flow Statement AED'000 FY'24 FY'23 YoY Profit for the period 321,834 299,576 7.4% Adjustments for: Depreciation & Amortization 223,151 228,585 -2.4% Provisions & Allowances 143,324 26,724 436.3% Others 126,392 153,948 -17.9% Change in: 814,701 708,833 14.9% Inventories -60,346 -83,565 2
Slide 42: Summary Cash Flow Statement
Summary Cash Flow Statement AED'000 9M’25 9M’24 YoY Profit for the period 53,154 254,935 -79.1% Adjustments for: Depreciation & Amortization 167,192 167,359 -0.1% Provisions & Allowances 82,026 35,018 134.2% Others 88,764 109,255 -18.8% Change in: Inventories 35,176 -51,509 - Trade and other receiva
Slide 43: EBITDA and NP Reconciliation
EBITDA and NP Reconciliation AED M Q3’25 Q3’24 9M’25 9M’24 Reported EBITDA 88.6 155.1 317.2 537.4 Provision related to a legal case with a commercial 58.3 - 58.3 - counterparty Bad debt provisions for legacy receivables1, including: - - 47.1 - - Water & Food - - 37.7 - - Snacking - - 9.4 - Timarat J
Slide 44: Thank You
Thank You