Earnings Report

Ghitha Holding

H1 26

1. Company Overview & Earnings Context

Ghitha Holding PJSC is an ADX-listed diversified food platform with operations spanning food trading and distribution, dairy, poultry, agriculture, food manufacturing, and consumer products across the UAE and the wider region. The Group continues to expand its integrated food ecosystem through strategic acquisitions and investments.

For H1 2026, Ghitha delivered strong top-line growth and more than doubled its net profit compared with the same period last year. Revenue growth was supported by higher sales across its food businesses, while earnings benefited from a gain on the partial disposal of an associate, despite lower contributions from associates and losses from discontinued operations.

2. Financial Performance Snapshot

Revenue: AED 3.35 Billion
Gross Profit: AED 666.2 Million
Selling, General & Administrative Expenses: AED 526.6 Million
Profit Before Tax (Continuing Operations): AED 180.7 Million
Taxation & Zakat: AED 15.3 Million
Profit from Continuing Operations: AED 165.3 Million
Profit for the Period: AED 127.7 Million
Earnings Per Share (EPS): AED 0.34

Compared with H1 2025:

Revenue increased 28.4% YoY.
Gross profit increased 11.1% YoY.
Profit before tax from continuing operations increased 1.2% YoY.
Profit from continuing operations increased 1.6% YoY.
Net profit surged 133.8% YoY.
Earnings per share doubled from AED 0.17 to AED 0.34.

3. Operational Highlights & Key Metrics

Total Assets: AED 10.27 Billion
Total Equity: AED 6.97 Billion
Cash & Bank Balances: AED 676.6 Million
Cash & Cash Equivalents: AED 609.1 Million
Investment in Associates: AED 3.97 Billion
Property, Plant & Equipment: AED 2.17 Billion
Inventories: AED 746.2 Million
Trade & Other Receivables: AED 1.41 Billion
Net Cash Generated from Operating Activities: AED 125.0 Million
Net Cash Used in Investing Activities: AED 135.5 Million
Net Cash Generated from Financing Activities: AED 129.4 Million

4. Key Performance Drivers

Ghitha's revenue growth was driven by higher food sales across its diversified operating businesses. Gross profit improved despite increased selling and administrative expenses. During the period, the Group recognized an AED 85.4 million gain from the partial disposal of its investment in Apex Investment PSC, while its share of profit from associates turned into a loss due to an impairment related to an associate classified as held for sale. The Group also continued expanding through acquisitions, including Taaza Healthy Food Industries LLC and Taaza Quality Foodstuff Trading LLC, while discontinued operations continued to weigh on reported earnings.

5. Outlook & Forward Guidance

Ghitha remains focused on strengthening its position as an integrated regional food platform through strategic acquisitions, operational expansion, and investment across food production, manufacturing, agriculture, and distribution. The Group continues to enhance its portfolio while pursuing long-term growth opportunities across the food value chain.

6. Investor Takeaway

Ghitha delivered a strong H1 2026 performance, with robust revenue growth and a significant increase in net profit. Supported by a diversified food portfolio, strategic acquisitions, and a solid balance sheet, the Group remains well positioned to capitalize on long-term growth opportunities within the regional food sector.