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NewsTranscript
00:00 [Arabic]
00:02 [Arabic]
00:04 [Arabic]
00:06 the company's sustainability and the ability to protect the company from the diversity of sectors and business marks.
00:12 The company's growth was the highest in terms of revenues and revenues, with a 12.4% increase in non-repeated operations.
00:17 This is higher than the expected ceiling for financial services, which was 10-12%, and its growth was the highest in terms of profit, with about 60 points of base.
00:26 This is also higher than the expected ceiling for funds, with about 30-50 points of base.
00:32 We are proud of several factors in the first quarter, which is that all sectors, without exception, have reached a growth rate in the UAE currency,
00:38 including the protein and frozen sectors, which have reached a growth rate in the foreign currency for the first time since the third quarter of 2020.
00:48 We have reached a growth rate in innovations of about 50 million dirhams, and about 35% of the company's growth came from innovations.
00:55 We have established a factory for innovation specialized in Abu Dhabi to drive this agenda.
01:02 We have seen a growth in e-commerce, which reached about 45 million dirhams in the first quarter.
01:09 Thank God, the results are strong, not only in terms of finance, but also in terms of strategy.
01:15 Of course, the U.S. income tax had an impact of about 9 million dirhams in the first quarter, and despite this, we succeeded in improving the profit margin by 60 points of base.
01:28 Yes, today, in light of your estimates and what we see in the global markets, from the rise in the price of coffee and also in terms of the prices of cocoa,
01:38 and today, this is the main commodity that enters your products, to what extent did it also affect the rise in costs during the past period?
01:48 Thank God, today, the company has a diverse portfolio that helps it face market fluctuations more effectively.
01:55 We have a strong and very active purchasing system.
01:59 We have taken some changes in some commodities such as coffee and cocoa, and we have covered ourselves for a longer period before the prices rose, and this helped us.
02:09 On the other hand, in the sector, such as the commodity and commodity markets, we have seen a decrease in the prices of the main commodity there.
02:19 So, a diverse portfolio helps us face these challenges more effectively and deal with them.
02:25 Yes, today, if we look at your targets for 2024, despite what we hear from the challenges and geopolitical tensions, the security risks in the Red Sea,
02:36 to what extent did these factors not lead to any changes or escalation operations that you may carry out during this period for 2024 and beyond?
02:46 Of course, the working environment is fluctuating, but we have the ability to face these challenges in a strong and effective way, and we have a clear strategy, and we are implementing it continuously.
02:58 We confirm or confirm the expectations that we have, and the questions and papers that we will find, God willing, that we will achieve a growth of 10 to 12 percent by 2024,
03:07 and a growth of 5 percent in terms of profits in exchange for taxes, benefits, and discounts from 40 to 60 points of interest,
03:14 and a growth of 5 percent in terms of profits from 30 to 50 points of interest after the adoption of the new tax law in the United Arab Emirates.
03:23 As you said, the subject is mostly based on strategies that strengthen the company's position in the markets and give us diversity and flexibility in facing these challenges.
03:36 Thank God, we are in a good situation.
03:38 Yes, in terms of your plans and your expansion today, if we talk about the size of the liquidity available to the company and your financial situation,
03:48 what are your plans and how much do you expect to spend capital in the coming period?
03:53 The financial situation of the company is very strong, thank God.
03:57 We have greatly reduced our debts compared to the previous year and a half.
04:01 The debt balance for the EBITDA is about 1.3 times, which is a very competitive ratio.
04:07 The interest rate has decreased by 8 times, which is a very strong ratio.
04:12 We have a deposit of about 500 million dirhams, and we have the ability to borrow up to 2 billion dirhams if we need it.
04:20 So the situation of the company is strong, and we are managing it very well.
04:24 In terms of expansion and spending, we have invested in a new protein factory in Saudi Arabia, and we have spent about 84 million dirhams on it.
04:31 Thank God, the factory entered production this month and entered sales, and we expect to gain from it 40 to 45 million dirhams in sales in the Kingdom of Saudi Arabia.
04:41 We have invested in the export of strawberries from Egypt, about 12 million dirhams, and the production has entered and entered the export phase.
04:49 We are trying to target a total of 3% to 4% of our capital expenditures.
05:01 Mr. Hisham, if we talk about your work in the Egyptian market today, in light of the fluctuations we have seen in the exchange rate,
05:09 were there any fluctuations in the currency fluctuations?
05:13 What is the situation of the Egyptian market today, and what is the size of your sales in this market?
05:19 Let me clarify several important points.
05:21 First, the Egyptian market represents about 18 to 19% of the size of the business.
05:27 Our policy in the Egyptian market was to transform Egypt into a regional export center,
05:31 in order to benefit from reducing production costs, its special strategic position, and its strong commercial relations.
05:38 We have been working on this strategy since last year. We have achieved about 70 million dirhams in exports from Egypt last year.
05:46 We are targeting an increase of 100 million dirhams in the current year.
05:49 This gives us a natural transformation as a result of the changes in the currency price.
05:55 In the first quarter, we achieved a strong growth in exports of 24 million dirhams.
05:59 We export dates, frozen fruits and vegetables, and we have also started exporting coffee and yogurt.
06:12 One last question, if possible, and in short, are there any new markets that you are aiming to enter in the near future?
06:19 We are expanding significantly in Asia, India, Indonesia, and Asian countries.
06:27 We have entered the Brazilian market in the light food sector.
06:30 We are expanding in Europe and the United States.
06:32 We have a strong expansion in all areas of the world.