Ajwa Food Industries Shareholders Approve Continued Operations

Ajwa Food Industries – Egypt disclosed to the Egyptian Exchange on Monday the results of its extraordinary general assembly meeting, with the resolutions and financial results as follows:

1. Administrative Resolutions:

• Continuity of operations: The general assembly approved the resolution for the company to continue operating.
• Legal amendments: Shareholders approved amending Article (4) of the company's articles of association, as well as cancelling commercial registration No. (17981) Cairo Investment.

2. Financial Performance (2024):

• Net profit: The company posted a net profit of EGP 10.87 million in 2024, a notable decline compared with 2023 profits of EGP 45.38 million (after accounting for minority interests).
• Sales volume: Sales fell to EGP 1.7 billion last year, down from EGP 1.9 billion the year before.

About Ajwa and Its Market Position

Ajwa is one of the leading major players in oil manufacturing and production in Egypt, drawing on extensive experience since its founding in 1985, and supplying high-quality products to a range of markets and consumers both locally and internationally.

As part of its expansion and development strategy, the Ajwa Group (which operates in the food industry across the Middle East and Saudi Arabia) acquired Mijoub Company in 2000. The company's factory is located in the Ataqa area of Suez, covering an area of 100,000 square metres, and features robust infrastructure including:

• Industrial activities: Refining and fractionating vegetable oils, manufacturing, packaging, storage, and quality control procedures.
• Logistics: The company owns three sea berths to facilitate transport and supply operations.