Key Takeaways
- Agthia Group reported first-half 2026 net profit of AED 121.4 million, up 147.4% year-over-year.
- H1 group revenue rose 7.4% to AED 2.6 billion, while EBITDA climbed 35.8% to AED 310.5 million and EBITDA margin expanded 250 basis points to 11.9%.
- Second-quarter revenue increased 11.9% to AED 1.3 billion, with net profit of AED 24.5 million.
- Free cash flow swung to a positive AED 521.4 million, and net debt-to-EBITDA fell to 1.8x from 2.9x in December 2025.
- The Abu Dhabi food and beverage group closed H1 with AED 869.6 million in cash and AED 6.5 billion in total assets.
Agthia Group, one of the Middle East’s largest food and beverage companies, reported a sharp rise in first-half 2026 profit as its multi-year transformation lifted margins and cash generation. Net profit reached AED 121.4 million, up 147.4% from a year earlier, and the Abu Dhabi-based group strengthened its balance sheet across the period.
Inside Agthia’s first-half results
Group revenue rose 7.4% to AED 2.6 billion, supported in part by one-off sales under the UAE food security program. EBITDA increased 35.8% to AED 310.5 million, with the EBITDA margin widening 250 basis points to 11.9%. In the second quarter, revenue grew 11.9% to AED 1.3 billion and EBITDA rose 172.5% to AED 117.2 million, with the margin expanding 542 basis points to 9.2%.
“Agthia’s financial profile strengthened considerably during the first half of 2026,” said Jeroen Nijs, chief financial officer of Agthia Group. “Alongside higher earnings, we generated AED 521 million of free cash flow, while reducing net debt-to-EBITDA from 2.9x to 1.8x. With AED 870 million of cash and cash equivalents, Agthia is well positioned to navigate the current regional disruption and execute our strategic transformation programs.”
Segment performance
Water and Food led growth, with revenue up 38.9% in the second quarter as Al Ain, Agthia’s first billion-dirham brand, extended its lead in bottled water and gained 2.0 percentage points of value market share. Protein and Frozen advanced 22.0%, led by Nabil at 32.5% and supported by the ramp-up of the group’s Saudi protein facility, while Agri-Business rose 11.0% on strong feed demand, with Agrivita feed sales up 23.3%.
Balance sheet and shareholder returns
Free cash flow turned strongly positive at AED 521.4 million, from an outflow a year earlier, and Agthia closed the half with AED 869.6 million in cash and AED 6.5 billion in total assets. The board recommended an interim dividend of 11.792 fils per share, a 14.4% year-over-year increase and a second consecutive period of higher returns.
“Even in a demanding environment, the Group is generating the cash to reward shareholders and fund its own growth,” said Khalifa Sultan Al Suwaidi, chairman of Agthia’s board.
