Agthia entered 2026 with the kind of quarter that quietly settles arguments. Net profit at the Abu Dhabi-listed food and beverage group rose 12.5 per cent year-on-year to Dhs96.9m, revenue climbed 3.3 per cent to Dhs1.3bn, and EBITDA expanded 4.1 per cent to Dhs193.3m — all delivered against a regional backdrop of shipping disruption, route volatility and rising input costs that has tested operators across the Gulf.
Beneath the headline figures, the story is one of portfolio breadth doing its job. The water and food division delivered 14.6 per cent revenue growth, agri-business expanded 13 per cent, and Abu Auf’s 27.3 per cent topline jump within Snacking pointed to a turnaround taking shape. E-commerce, now 7.2 per cent of group underlying sales, grew 22.5 per cent — a quiet but telling indicator of how a traditional staples business is repositioning for a faster, more digital consumer.
Salmeen Alameri, managing director and CEO of Agthia, speaks to Gulf Business about what drove the quarter, how the group is managing through a more complex operating environment, and where he sees the strongest opportunities for the rest of the year.
How does Agthia view its role in supporting food security in the UAE, particularly through its scale, supply chain capabilities, and participation in food security-related programmes?
Agthia is a diversified group operating across four core business units: Agri-Business, Water & Food, Protein & Frozen, and Snacking. Each of these categories plays an important role in the broader food security ecosystem — from hydration and flour to animal feed, protein, dates, everyday food products and consumer staples.
For local champions like Agthia, the role is not only commercial. It is structural. Our responsibility is to build resilience in a way that is also economically sustainable. We do this by scaling local production capacity in essential categories, localising processing and storage where possible, and maintaining the operational readiness required to respond during periods of disruption.
More than half of our business is in the UAE, where we hold leading positions in key essential categories, including the country’s number one brands in water, flour and animal feed. Across the group, we operate 20 manufacturing facilities and employ over 12,000 people across the region, giving us the scale, infrastructure and operational depth to support reliable supply.
Agthia delivered a strong Q1 2026 performance. What were the primary drivers behind this, and how do you view the quality of these earnings?
Our results this quarter were shaped by strong execution in core segments, continued progress across transformation projects, and the group’s ability to respond quickly to a more complex operating environment.
Group net revenue rose 3.3 per cent year-on-year to Dhs1.3bn, EBITDA grew 4.1 per cent to Dhs193.3m, while net profit increased 12.5 per cent to Dhs96.9m — supported by disciplined execution, stronger margin delivery, and improving operating performance across key businesses.
Water and food remained a key growth engine, delivering 14.6 per cent revenue growth, supported by strong momentum in UAE water. Protein and frozen grew 4.1 per cent, driven by the market leadership of Nabil in Jordan and Atyab in Egypt. Agri-business delivered 13 per cent revenue growth, reinforcing its strategic role within Agthia’s diversified portfolio. In snacking, the portfolio reset continues to progress, with Abu Auf delivering 27.3 per cent topline growth and Al Foah demonstrating profitability recovery, reflecting the impact of focused actions to strengthen the category’s performance.
Our digital momentum also strengthened, with our e-commerce hub growing 22.5 per cent and now representing 7.2 per cent of group underlying sales, reflecting our ability to reach consumers through faster, more convenient digital routes to market.
Agthia’s performance reflects the strength of the group’s fundamentals, the relevance of its role in supporting the broader food security ecosystem, and the focus with which it continues to execute against its strategic priorities — creating a more resilient and profitable earnings profile.
Water and food remained a key growth driver in Q1. What factors supported the performance of this segment?
Water and food remained a key engine of growth in Q1, delivering 14.6 per cent revenue growth, supported by the continued strength of Agthia’s core brands, disciplined commercial execution, and sustained demand across essential categories. The performance was led by Al Ain Water, the UAE’s number one water brand, alongside continued momentum in our broader food portfolio, including everyday staples that remain closely linked to household consumption, hospitality, and food security.
The segment also benefited from Agthia’s ability to combine strong legacy brands with innovation and channel expansion. The launch of Al Ain Alkaline Water and the expansion of our frozen range strengthened our market footprint and responded to evolving consumer preferences. Overall, the segment’s performance reflects the strength of our category leadership, our operational scale, and our ability to keep innovating while continuing to serve essential consumer needs across the UAE and the wider region.
How did Agthia maintain operational continuity during the quarter, particularly in a more complex operating environment?
Agthia is built on a foundation of resilience, with the safety of our people and the stability of our operations remaining our first priorities. In response to the current situation, we are managing the impact through a well-prepared supply chain, supported by strategic reserves of key raw materials within geographies or operation bases. These buffers allow us to maintain production continuity and reduce the risk of disruption, even amid some disruptions in shipping routes and regional logistics.
At the same time, our diversified manufacturing footprint across the UAE, Saudi Arabia, Egypt, Kuwait and Jordan enables us to serve key markets more locally and reduce dependency on cross-border movement during periods of volatility. We are also able to adjust production levels where needed to manage inventory efficiently. Supported by a strong financial position, healthy liquidity, and a clear long-term strategy, we remain confident in our ability to navigate cost pressures while continuing to deliver against our ambitions and our commitment to the region.
What role does Agthia’s diversified portfolio play in strengthening the Group’s resilience and supporting long-term growth?
Agthia’s diversified portfolio is one of the strongest foundations of the group’s resilience. With leading brands across water and food, protein and frozen, snacking and agri-business, the group is not dependent on a single category, market, or consumption cycle. This allows us to balance performance across the business, manage shifts in demand more effectively, and continue serving consumers and customers even during periods of market volatility or supply chain pressure.
This diversification also supports long-term growth by giving Agthia multiple platforms to scale. Our portfolio includes everyday essentials, high-growth consumer categories, regional power brands, and businesses directly linked to food security and national supply. Together, they create a stronger, more agile operating model — allowing us to expand across markets, invest in innovation, strengthen category leadership, and deliver sustainable value to our stakeholders.
What are Agthia’s key priorities for the remainder of 2026, and where do you see the strongest opportunities for growth?
For the remainder of 2026, our priority is focused execution across the key platforms that will support Agthia’s next phase of growth — including strengthening our regional manufacturing and distribution capabilities, and driving greater efficiency across our operating model.
At the same time, we are advancing our digital transformation and shared-services roadmap to improve agility, visibility and speed across the Group, from supply chain and procurement to commercial planning and customer engagement.
We also see strong growth opportunities through our innovation pipeline, particularly in products that respond to evolving consumer preferences around health, convenience, hydration, functional benefits and snacking. Our focus is to build on the strength of our leading brands while introducing relevant new propositions across our core categories. While we are not providing formal guidance given current market variables, we remain confident in the fundamentals of the business.
Agthia has a diversified portfolio and strong regional platforms — our priority is to keep executing with discipline, resilience and a long-term view to create sustainable value for all stakeholders.