Abu Dhabi-based Agthia Group posted net profit of AED 121.4 million in the first half of 2026 — a 147.4% year-over-year increase — as its multi-year portfolio transformation began delivering at the bottom line. Group revenue rose 7.4% to AED 2.6 billion, EBITDA climbed 35.8% to AED 310.5 million, and the EBITDA margin expanded 250 basis points to 11.9%. For operators and buyers sourcing across the MENA region, the numbers signal that one of the Gulf's largest integrated food and beverage platforms is operating with notably more financial stability than it was twelve months ago.
The Turnaround in Numbers
Free cash flow swung to a positive AED 521.4 million from an outflow in the prior-year period — a shift that matters for any vendor, distributor, or retailer extending credit terms or negotiating long-cycle supply contracts with the group. Net debt-to-EBITDA fell from 2.9x at the end of 2025 to 1.8x at June 30, 2026, and the group closed the half with AED 869.6 million in cash on hand. Total assets reached AED 6.5 billion. Jeroen Nijs, Chief Financial Officer of Agthia Group, noted the improved position enables the company to "navigate current regional disruption, execute strategic transformation programs, and enhance shareholder returns" simultaneously — language that telegraphs continued reinvestment rather than a pullback.
Where Volume Is Moving
The segment breakdown is worth tracking for any operator, importer, or foodservice distributor doing business in or around the Gulf. Water and Food led the portfolio in Q2, with revenue up 38.9%, as Al Ain — Agthia's flagship bottled water brand and its first billion-dirham brand — added 2.0 percentage points of value market share. Protein and Frozen rose 22.0% in Q2, with the Nabil brand up 32.5% and the group's Saudi protein facility ramping. Agri-Business grew 11.0% on strong animal feed demand, with Agrivita feed sales up 23.3%. The Snacking segment remains in transformation mode, though Abu Auf — the specialty food brand — posted 23.7% revenue growth in Q2, suggesting the consumer appetite for premium differentiated product is holding even as broader snack category margins face pressure.
The board has approved an interim cash dividend of 11.792 fils per share, a 14.4% increase and the second consecutive period of raised returns following a 10.0% hike for H2 2025. Salmeen Alameri, Managing Director and CEO of Agthia Group, tied the financial performance directly to the group's UAE food security role: the H1 revenue figure included one-off sales under the UAE food security program, which padded the top line but also underscored how government-aligned supply mandates are shaping volume for major regional producers.
For buyers, brokers, and distribution partners watching the operator intelligence landscape, Agthia's balance sheet repair reduces counterparty risk and may open the door to longer contract terms. For suppliers benchmarking their own brand launch and retail readiness against the region's category leaders, the Al Ain share gain in bottled water is a useful competitive data point: price-plus-distribution density is still winning shelf space in a crowded segment. The emissions ratio reduction of 26.7% year-on-year also signals that sustainability reporting is becoming a standard metric in MENA food group investor communications — a consideration for any supplier pitching ESG-aligned sourcing credentials into the region.
Written by Michael Politz, Author of Guide to Restaurant Success: The Proven Process for Starting Any Restaurant Business From Scratch to Success (ISBN: 978-1-119-66896-1), Founder of Food & Beverage Magazine, the leading online magazine and resource in the industry. Designer of the Bluetooth logo and recognized in Entrepreneur Magazine's "Top 40 Under 40" for founding American Wholesale Floral, Politz is also the Co-founder of the Proof Awards and the CPG Awards and a partner in numerous consumer brands across the food and beverage sector.
