Egyptian Businessman Hani Berzi's Edita Food Industries To Raise Capital By 2.76 Million

Edita Food Industries, the Cairo-based consumer goods giant led by Egyptian businessman Hani Berzi, has secured board approval to increase its capital by 2.76 million through a stock dividend funded from retained earnings. The move will double its issued capital to EGP 280 million 5.53 million as part of the companys broader expansion plans.

The capital increase of EGP140 million 2.76 million, approved at a recent Extraordinary General Meeting EGM , will be fully funded from retained earnings, as confirmed in the companys audited 2023 financial statements. These were certified during its Ordinary General Meeting on March 28, 2024.

Edita plans to distribute the increase across 700 million shares at a nominal value of EGP 0.20 0.004 per share. The measure is subject to shareholder approval at an upcoming EGM, with Chairman Hani Berzi expected to oversee the execution details. With this step, Edita is strengthening its financial position to support its growth strategy in Egypts highly competitive food industry.

Edita Food Industries remains Egypt's dominant player in the packaged snack market, producing cakes, croissants, rusks, and wafers, and benefiting from a strong retail network.

Although the company saw significant revenue growth driven by price increases and higher sales in key product categories, its net profit decreased by 6.1 percent in 2024 , falling from EGP 1.51 billion 30 million to EGP 1.4 billion 27.66 million. The drop was mainly due to the devaluation of the Egyptian pound in March and rising operational costs.