The General Assembly of Aleid Foods approved the distribution of 10 percent cash dividends for the fiscal year ending on December 31, 2023:

Al-Mutairi: A remarkable growth record in Aleid Foods profits and revenues this year after the strategic acquisition of Al-Ashraf

Kuwait – May 28, 2024:

Aleid Foods Company announced today the successful conclusion of the ordinary general assembly meeting held at its headquarters in Qibla Square Tower, for the financial year ending on December 31, 2023.

The meeting witnessed the shareholders’ approval of the Board of Directors’ recommendation to propose distributing cash dividends of 10% of the nominal value of one share (i.e. 10 fils per share) for the financial year ending on 31/12/2023 to the shareholders registered in the company’s records as at the end of the claim day. Authorizing the Board of Directors to determine the due date and amend the schedule confirmation if it must be changed if necessary.

It was also approved to deduct 10% of profits from the voluntary reserve account in the amount of KD 553,907 in order to support the company’s financial position, in addition to approving the transfer of KD 500,841 from the voluntary reserve to a retained profits account.

Aleid Foods Company’s CEO, Eng. Mohammad Al-Mutairi, said, The company’s financial indicators recorded an unprecedented record for the year ending December 31, 2023, as the company’s net profit reached (KD 3,202,752) (three million two hundred and two thousand seven hundred and fifty-two dinars), compared to a net profit value amounted to (KD 2,510,258) (two million five hundred and ten thousand two hundred and fifty-eight dinars) for the financial year ending on 31/12/2022, an increase of 27.58%, with a noticeable increase in shareholders’ equity of 101.81%.

Al-Mutairi added, explaining that the company’s earnings per share increased by 23.14% for the fiscal year ending on 31/12/2023, and amounted to 16.60 fils, compared to 13.48 fils for the fiscal year ending on 31/12/2022, and the company’s total operating revenues increased by 24.53% in the end of 2023, compared to the same period in 2022, which came as a result of the expansion of Aleid Foods in the food services sector following the completion of the strategic acquisition of Al-Ashraf Food Company to support development plans and create a balance between the financial returns achieved from different business sectors to enhance the continued growth of business and profits.

Al-Mutairi pointed out that the company will continue to develop its operational operations in accordance with its integrated strategy for regional expansion, Goals 25, anticipating a remarkable record growth in profits and revenues during the year 2024 to create a new leadership position for Aleid Foods Company.

Al-Mutairi concluded by expressing his deep gratitude and appreciation to all the partners and shareholders who placed their trust in the company and its capabilities and ability to overcome challenges and develop its business to keep pace with changes and enable it to achieve appropriate performance to enhance continuous growth and achieve sustainability in resources and profits.

— END —

Aleid Foods Company was established in 1994, with a paid-up capital of 18 Million Kuwaiti Dinars, and was listed on the Kuwait Stock Exchange (Kuwait Boursa) in 2008 under the Consumer Services sector. Today, it is a leading company in importing, marketing, and distributing food products in the State of Kuwait. Aleid Foods Company has diverse operational lines, a group of partner brands, branches and subsidiaries specializing in food, and its network of distribution channels, supported by advanced logistical capabilities, serves more than 1,000 commercial customers and huge operations for direct delivery to the store. Aleid Foods Company believes in the modernizing and digitalizing of business and is keen to keep pace with and adopt the latest digital technology techniques and methods in marketing and distributing food products.

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The Board of Directors of Aleid Foods Company recommends distributing 10% cash dividends for the fiscal year ending on 12/31/2023:

Al-Mutairi: Aleid Foods’ performance in 2023 was reflected in the increase in shareholders’ equity by an unprecedented record rate since its founding, amounting to 101.81%. 

Kuwait – March 28, 2024: 

The Board of Directors of Aleid Foods Company met today, March 28, 2024, and approved the issuance of the financial statements for the fiscal year ending on December 31, 2023, presented by the auditors. The Board of Directors recommended proposing the distribution of cash dividends to shareholders in the amount of 10% of the paid-up capital for the year. For the fiscal year ending 12/31/2023, at a rate of 10 Fils per share.

The company’s net profit amounted to (KD 3,202,752) (Three Million Two Hundred And Two Thousand Seven Hundred And Fifty-Two Kuwaiti Dinars) for the financial year ending on 12/31/2023, compared to a net profit amounted to (KD 2,510,258) (Two Million Five Hundred And Ten Thousand Two Hundred And Fifty-Eight Kuwaiti Dinars) for the fiscal year ending on 12/31/2022, an increase of 27.58%, while achieving a significant increase in shareholders’ equity by 101.81%.

The company’s earnings per share also increased by 23.14% for the fiscal year ending on 12/31/2023, and amounted to 16.60 Fils, compared to 13.48 Fils for the fiscal year ending on 12/31/2022, and the company’s total operating revenues increased by 24.53% at the end of the year 2023, compared to the same period in 2022.

The company’s net profits also increased by 107.40% at the end of the fourth quarter of 2023, earnings per share increased by 59.39%, and total operating revenues increased by 76.33%, reaching 9 million and 204 thousand and 768 Kuwaiti dinars, compared to revenues for the fourth quarter of 2022, which amounted to 5 million and 220 thousand and 138 Kuwaiti dinars.

Aleid Foods Company’s CEO, Eng. Mohammad Al-Mutairi, said 2023 is a unique year marking a whole new milestone by all standards withing Aleid Foods journey, pointing to the company’s remarkable operational performance and its increase by 24.53%, which was characterized by flexibility and the ability to face all challenges, the most important of which was the high rates of inflation in the world, its negative impact on food supply chains, and the rise in prices of basic consumer goods.

Al-Mutairi added, explaining that the year 2023 witnessed remarkable progress in enabling the company’s regional expansion plans through the completion of the acquisition of Al-Ashraf Central Market Company, with the aim of enhancing the expansion of the company’s operational operations in the food services sector, supporting the Goals 25 regional expansion strategy, and accelerating its mechanisms to ensure the achievement of the results of the plans.

Al-Mutairi pointed out that the company’s capital was raised in the fourth quarter of 2023 to a total of 30 Million and 331 Thousand Kuwaiti Dinars, which reflected positively on the increase in the property rights of the company’s shareholders by an unprecedented record rate at the end of 2023, amounting to 101.81%, which is the highest percentage recorded since the company’s founding. In addition to an increase in earnings per share by 23.14%, in addition to an increase in net profits by 27.58%.

Al-Mutairi concluded by referring to the recommendation of the Board of Directors of Aleid Foods to distribute 10% cash dividends to shareholders at the rate of 10 Fils per share from the paid-up capital for the financial year ending on 12/31/2023, which is equivalent to 100% of the net profits according to the company’s new capital, in confirmation of this. Our adherence to the principle of sustainability in profits for shareholders and partners is a translation of our pursuit of continuous growth. 

— END —

Aleid Foods Company was established in 1994, with a paid-up capital of 18 Million Kuwaiti Dinars, and was listed on the Kuwait Stock Exchange (Kuwait Boursa) in 2008 under the Consumer Services sector. Today, it is a leading company in importing, marketing, and distributing food products in the State of Kuwait. Aleid Foods Company has diverse operational lines, a group of partner brands, branches and subsidiaries specializing in food, and its network of distribution channels, supported by advanced logistical capabilities, serves more than 1,000 commercial customers and huge operations for direct delivery to the store. Aleid Foods Company believes in the modernizing and digitalizing of business and is keen to keep pace with and adopt the latest digital technology techniques and methods in marketing and distributing food products.

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Al-Mutairi: A qualitative step supporting our expansion in the food services sector

Kuwait: December 13, 2023

Al-Eid Foods Company announced today, in a press conference organized at its executive office, the signing of a contract to purchase 99% of the Capital Shares of Al-Ashraf Foods Company, owned by Dalqan Holding Group, and the completion of its acquisition deal for the value of 20Million and 500 thousand Kuwaiti Dinars, in parallel with the success of its Public Offering to increase Aleid Foods Company Capital, authorized, issued and paid, from KD 18,617,287.200 to KD 30,331,572.900 through the issuance and allocation of 117,142,857 ordinary shares at at the offering price of 175 Fils (one hundred and seventy-five Kuwaiti Fils) per share.

In the same context, the CEO of Aleid Food Company, Engineer Mohammed Al-Mutairi, confirmed that the acquisition of Al-Ashraf Foods Company is a qualitative step aimed at expanding Aleid operations in the food services sector in acceleration of the regional expansion plans Goals 25, pointing to the success of Alashraf Food Company over the past ten years in, enabling the company to become a major player in the food services sector by providing essential consumer food commodities, meat and frozen foods to small, medium and large food sector companies.

Al-Mutairi went on to explain the goals of expansion in the food services sector, the most important of which is supporting the vertical diversification in business sectors and sources of income for Aleid Foods Company, and creating valuable opportunities for products and partners to increase their market share and stimulate growth, in addition to enabling the regional expansion plans Goals 25, while ensuring sustainable results for partners and Shareholders, pointing to the advantages and results of the acquisition that will support the development plans for the year 2024 at the level of financial and operational returns, the most important of which is Aleid revenues exceeding the threshold of 60Million dinars by the end of next year 2024. This new step will result in the creation of a new leadership position for the company, an increase in Alied’s share profits by the end of 2024, and enhancing the continued growth of Eid’s share profitability ensuring the sustainable dividends to shareholders, in addition to the importance of the acquisition in expanding the company operations and supporting Aleid’s position as a major key player in the frozen foods sector. Hence, achieving the new leadership position as a supplier of whole frozen chicken catering, it is the largest distribution channel in Kuwait, in addition to enhancing the diversification of Aleid business lines to include the retail sector with a focus on raw materials, chocolate equipment, nuts, and sweets.

Al-Mutairi pointed to the principle of sustainability as a solid foundation for Aleid Foods’ work in the food sector, including sustainability of quality of products, working values, relationship with the partners and suppliers, and its commitment to the development and progress, all the way to sustainability in profits and the relationship with investors and shareholders. All in the fulfillment of the Aleid Fods motto, “Continuous Growth”.

Al-Mutairi concluded by extending his sincere thanks and gratitude to all the new owners, shareholders and investors for their continued trust, and thanks goes to Al-Hossam Legal & Partners for Legal Consultancy and Law Firm, the National Investments Company, and the asset evaluator BDO Kuwait for their appreciated efforts to complete the acquisition and subscription to raise the Aleid Capital, and finally special thanks to the the company team for their efforts, dedication, commitment, and quick and accurate response to maintain a rapid pace for the subscription and acquisition.

–END–

Aled Foods Company was established in 1994, with a paid-up capital of 30Million Kuwaiti Dinars, and is listed on Boursa Kuwait since 2008 under the Consumer Services Sector. Today, it is a leading company in importing, marketing, and distributing food products in the State of Kuwait with regional operations expanding in KSA and UAE. Aleid Foods Company has diverse operational lines, a group of partner brands, branches and subsidiaries specializing in food, and serves a network of distribution channels including retail and food services and supported by advanced logistical capabilities. Aleid Foods Company also believes in the digitization of businesses and is keen to keep pace with and adopt the latest digital technology techniques and methods in marketing and distributing in the food industry.

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Aleid Foods Company Extraordinary General Assembly approves the purchase of 99% of the capital of Al Ashraf Foods:
Al-Mutairi: We aspire to diversify and develop into the food services sector while accelerating our regional expansion.
Kuwait – August 2023:
Aleid Foods Company Board of Directors discussed today the items listed on the agenda of the Extraordinary General Assembly, and approved the purchase of 99% of the capital of Al Ashraf Market Center Company owned by Dalqan Holding Group, in addition to approving the increase of the authorized and issued capital of the company from KD 18.617 M to KD 30.331 Million by issuing 117.142 Million new shares, at share par value of 100 fils, and an issuance premium of 75 Kuwaiti Fils as cash increase paid in one payment and offered for subscription to shareholders registered in the company’s records on the due date that will be soon announced (a 62.92% increase of the company’s total issued and current paid-up capital).
Aleid Foods Extraordinary General Assembly also agreed to amend Article 5 of the Memorandum of Association and Article 5 of the Articles of Association, making the company’s authorized and issued capital KD 30.331 Million after the amendment and distributed over 303,315,729 Million shares, with share par value of 100 Kuwaiti Fils.
Aleid Foods Company CEO, Eng. Mohammed Al-Mutairi affirmed that 2023 is the year of launching and initiation for Aleid Foods, and therefore the offer of acquisition of Al Ashraf Company came to further the implementation of Aleid’s business model, boost the momentum achieved in the past years and effectively instigate the acceleration of the company’s operations to achieve the regional expansion strategy Goals_25, in terms of adopting diversified sources of income that support the leadership position in the food sector and reinforces sustainable profitability, stressing the importance of the food services sector, which is witnessing rapid growth in the Gulf countries in general and the Saudi market in particular.

Al-Mutairi added, explaining the unique competitiveness of Aleid Foods’ new business model which will become distinguished with the addition of Al Ashraf, allowing us to strengthen our current position as the partner of choice with international, regional, and local food brands, as well as keep pace with the latest innovations and the ever-changing market and client trends, enabling Aleid Foods ambition leadership in the food sector on local and regional levels.
Al-Mutairi concluded by referring to the company determination to perceive challenges as opportunities for growth and business development, hence achieving sustainable returns for shareholders and partners, while focusing on the Aleid Foods continues growth into the regional markets.

–The End–

“Aleid Foods: Company was established in 1994, with a paid-up capital of more than 12 million Kuwaiti dinars. It was listed on the Kuwait Stock Exchange in 2008 under the consumer services sector. Today, it is a leading company in importing, marketing and distributing food products in Kuwait. “Aleid Foods” has diverse operation lines, a group of partner brands, branches, and subsidiaries specialized in food, with a distribution channel network of advanced logistical capabilities, serving more than 1000 commercial customers and massive direct-to-store operations. “Aleid Foods” believes in digitalization, and is keen to adopt the latest digital technologies in the marketing and distribution of food products.
AlAshraf Company, which specialized in importing and selling diverse foodstuffs, was established in 2002 with the aim of innovating and developing food services in the restaurants and central kitchens sectors and food supply companies, in addition to operating in the supply of raw materials and chocolate production equipment. After nearly ten years, the company has solidified its position in the local market, becoming among the three most significant and renowned companies in the food services sector.

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Aleid Foods CEO, Eng. Mohammed Al-Mutairi gives an exclusive statement to CNBC Arabia

Aleid Foods General Assembly approves the distribution of 5% cash dividends and a 10% grant of shares for the fiscal year ending on December 31, 2022:

Al-Mutairi: 2023 is the year of launching and initiation to activate our regional operations

Kuwait – May 3, 2023

Aleid Foods Company Ordinary and Extraordinary General Assembly approved the recommendation of the Board of Directors to distribute 5% cash dividends of the par value per share (5 fils per share), and the distribution of a 10% grant of shares of the authorized capital, for the fiscal year ending on December 31, 2022, for shareholders registered in the company’s records

In the meeting held today at its headquarters, Aleid Foods Ordinary General Assembly also approved all the items on its agenda, the most important of which was the approval of the governance and auditing committee’s reports for the fiscal year ending on December 31, 2022, and the approval of deducting 10% of the profits for the voluntary reserve account in the amount of KD 262,722 to support the company’s financial position, in addition to approving the transfer of KD 553,907 from the voluntary reserve to a retained earnings account.

Aleid Foods Company Extraordinary General Assembly discussed the items listed on its agenda, and the increase of the company’s authorized, issued, and paid-up capital from KD 16,924,806/600 to KD 18,617,287/200 was approved, in addition to approving the amendment of clause No.(5) of the Memorandum of Association and Article No.(5) of the corporate charter

Aleid Foods Company CEO, Mohammad Al-Mutairi, stated that  Aleid Foods Company achieved the highest revenues in its history in 2022, which was distinguished by an increase in the company’s financial performance indicators compared to 2021, with a recorded increase in net operating revenue of 23.34%, amounting to KD 28,199,327, which came as a result of the company’s determination and plans to develop and diversify its sources of income and balancing the financial returns of its various business sectors, and that is among the company’s priorities to achieve continuous growth. 

Al-Mutairi affirmed Aleid’s commitment to reinforcing its share and enhancing its position as a safe and sustainable investment, hence why it was keen on including rewarding dividend distribution for the fourth consecutive year.

Al-Mutairi added, today Aleid Foods stands solid as it prepares for the new phase of “Launching and Initiation” in 2023, by focusing on supporting and developing the new companies and projects that were launched in the past two years to achieve Aleid’s ambitions in attaining leadership in the food sector at local and regional levels. Concurrently supporting the company plans to achieve its Regional Expansion Strategy Goals 25, activated in 2022 with the opening of the Aleid Foods – Dubai and the establishment of Aqtar Alkhhleej Company in Riyadh, Saudi Arabia by activating the company’s operations in these vital cities and solidify its position as a key player in their markets in addition to enabling it to enter new markets and cities according to its future plans.

Al-Mutairi concluded by extending his thanks and appreciation to the company’s Board of Directors and its team for their trust in the ambitious Regional Expansion Strategy Goals 25 set by the Executive Management to keep pace with the company’s continuous growth aspirations, which positively reflected on maintaining the company’s position in the local and regional markets and enhancing its capabilities to satisfy clients, partners and consumers alike and ensure sustainable returns to investors and shareholders

–The End–

“Aleid Foods: Company was established in 1994, with a paid-up capital of more than 12 million Kuwaiti dinars. It was listed on the Kuwait Stock Exchange in 2008 under the consumer services sector. Today, it is a leading company in importing, marketing and distributing food products in Kuwait. “Aleid Foods” has diverse operation lines, a group of partner brands, branches, and subsidiaries specialized in food, with a distribution channel network of advanced logistical capabilities, serving more than 1000 commercial customers and massive direct-to-store operations. “Aleid Foods” believes in digitalization, and is keen to adopt the latest digital technologies in the marketing and distribution of food products.

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Al-Mutairi: Aleid Foods achieved the highest revenues in its history and its financial indicators were positive.

Kuwait – April 2, 2023:

Aleid Foods Company organized the second financial analysts and investors’ conference call in collaboration with Arqaam Capital to discuss the company’s financial statements and tailwind and headwind factors related to its indicators in the quarter four and full-year 2022.

Aleid Foods Company CEO, Eng. Mohammad Al-Mutairi, reviewed in detail the company’s financial and operational performance during the year 2022 in general including the fourth quarter of the same year, indicating that the company achieved the highest revenues in its history and its financial indicators were positive, due to the performance of its experienced team and its active contribution to the development of various business sectors, advancing the company’s subsidiaries and strengthening relations with partners and investors.

Al-Mutairi added, stressing Aleid Foods’ commitment to maintaining the minimum limits of loans necessary for operational development, especially with the high rates of inflation, pointing out that the percentage of loans’ contribution to the company’s business does not exceed 36%, which is far lower than the market practices.

As part of Aleid Foods’ efforts to diversify its sources of income to balance the financial returns of its various business sectors, Al-Mutairi explained the company’s success in reducing the distribution sector’s contribution to the total income during the year 2022 from 90% to 83.9%, while in return the contribution of branches increased by 82%, and the contribution of subsidiaries increased by 99%.

The conference call included questions from analysts and investors to Eng. Mohammad Al-Mutairi, the most important of which was a question about the growth rates expected in the coming years for the company’s operational performance in the presence of many existing external factors, to which Al-Mutairi replied by explaining that operating revenues will return to its normal growth rates ranging between 17% to 19%, regardless of the surrounding fluctuations, and indicating that the development of the company’s operations is consistent with the regional expansion strategy Goals_25.

–The End–

“Aleid Foods: Company was established in 1994, with a paid-up capital of more than 12 million Kuwaiti dinars. It was listed on the Kuwait Stock Exchange in 2008 under the consumer services sector. Today, it is a leading company in importing, marketing and distributing food products in Kuwait. “Aleid Foods” has diverse operation lines, a group of partner brands, branches, and subsidiaries specialized in food, with a distribution channel network of advanced logistical capabilities, serving more than 1000 commercial customers and massive direct-to-store operations. “Aleid Foods” believes in digitalization, and is keen to adopt the latest digital technologies in the marketing and distribution of food products.

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The company’s net profit increased by 14.08% at the end of 2022: Aleid Foods Board of Directors recommended the distribution of 5% cash dividends to shareholders and the distribution of 10% bonus shares of the paid-up capital .

Kuwait – March 6, 2023: Aleid Foods Company Board of Directors held its meeting today, 03/6/2023, and approved to issue the financial statements for the fiscal year ending on 12/31/2022 submitted by the auditors .
The Board of Directors recommended the distribution of 5% cash dividends of the paid-up capital to shareholders (5 fils per share of the paid-up capital) and the distribution of 10% bonus share of the paid-up capital (10 shares for every 100 shares) for the fiscal year ending on 12/31/2022.
The Company reported a net profit of (2,510,258 KD) (two million, five hundred and ten thousand, two hundred and fifty-eight Kuwaiti dinars) for the fiscal year ending on 12/31/2022, as compared with (2,200,272 KD) (two million, two hundred thousand, two hundred and two and seventy Kuwaiti dinars) for the fiscal year ending on 12/31/2021, reflecting a year-on-year increase of 14.08%, with a noticeable 6.41% increase in shareholders’ equity.

The company’s earnings per share increased by 14.08% for the fiscal year ending on 12/31/2022, amounting to 14.83 fils, as compared with13 fils for the fiscal year ending on 12/31/2021, while the company’s total operating revenue grew by 23.34% at the end of 2022, as compared to the same period in 2021.

Aleid Foods Company CEO, Eng. Mohammad Al-Mutairi stated that the company focused in 2022 on planning and innovation, setting clear mechanisms for operational development while working simultaneously on achieving the company’s regional expansion strategy Goals_25, pointing to the multi-dimensional efforts made, the most important of which was the expansion in the Gulf by opening Aleid Foods-Dubai, in the hub of the commercial activity in the region, during the first quarter of 2022, apace with the launch of the Goals_25 strategy, and then came the establishment of the Aqtar Al Khaleej Company in Riyadh to be the focal point of the company’s operational expansion in the Kingdom of Saudi Arabia, in addition to attracting and adding several international, regional, and local brands to the company’s product basket, which includes on the global level the Indian brand Allana, and the Dutch brand Van den Berg. On the regional level, the Emirati brand Freshly and National Biscuit Industries’ brand Nabil from the Sultanate of Oman joined Aleid brands’ list, and finally, locally Aleid added AlKazi and Bnt Manahi brands.

Al-Mutairi added that Aleid Foods also devoted particular attention to developing its operations by expanding into new sectors, most importantly the HORECA sector and restaurant services, and the healthy and organic food sector by acquiring HealthLand Company, in addition to building effective partnerships and signing cooperation agreements with a number of young entrepreneurs in the local food sector to expand the marketing of their products, which are distinguished by their quality and ideas, with the aim of reaching the largest consumers’ segment, especially gourmet consumers.
Al-Mutairi concluded by emphasizing Aleid Foods’ commitment to continuous growth and achieving sustainable returns for shareholders and clients. The three main pillars of the company’s vision remain among its priorities, which are providing healthy food solutions, adopting technology and digital development in marketing products and services, and investing and relying on young national talents, whether through employment or partnership.

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• Beginning, how do you see Aleid Foods journey in 2023 and what are the most prominent goals you aspire to achieve?

• The year 2022 was about planning and innovation, while the year 2023 is our year for initiation and taking off towards achieving Goals_25 regional expansion strategy, as we are focusing our efforts on enabling the company’s operations and solidifying its position in the Kuwaiti financial market, apace with the active initiative to list the company in one of the most influential stock exchange markets in the Gulf in the current year, in addition to launching and activating its operations in Saudi Arabia whilst growing and supporting its market share, especially in the poultry and frozen meat sector, which is one of the most vital goals for the company and the group in general.

• Tell us about the most significant and remarkable progress milestones achieved by Aleid Foods Company, based on its direction and motto of continuous growth?

• Since its establishment, Aleid Foods Company’s journey has been associated with a passion for achievement and progress and its ambition to achieve leadership in the food sector by adopting competitive standards with the quality and level of its business distinguished by advancing and enabling its operations locally and regionally through three integrated pillars:

First: reinforcing the company’s distribution network in line with diversifying the product basket and building effective partnerships with a number of international, regional and local partner brands and subsidiaries internationally, emphasizing our role as partner of choice and the importance of partnerships in achieving success.

         Second: Advancing the established company with a vertically integrated business model reinforced by supporting lines to develop its business locally, while continuously keeping pace with consumers’ requirements, the digital market, and the establishment of new branches, in addition to expanding the traditional and digital marketing of its products.

 Third: Growing the list of Aleid Foods’ owned and subsidiary companies, and employing them to enter new sectors to support expansion strategies at the local and regional levels.

• What about the Goals_25 regional expansion strategy, which was a clear vision that require anticipation and follow-up, what are its most prominent features?

• Goals_25 strategy is a qualitative step that keeps pace with Aleid Foods’ momentum and ambition in achieving leadership in the food sector, and it aims to be a road map for the company’s future and regional expansion plans for the coming years, and it is characterized by working to list Aleid Foods in two financial markets in the region, the entry of its operations, services, partner brands and subsidiaries to five commercial and vital cities in the Gulf, in addition to doubling the company’s financial returns to reach 25 million dinars at the end of 2025 compared to the financial returns achieved at the end of 2021.

• And where have you reached in the implementation journey of the Goals 25 strategy and what has been achieved by the end of 2022?

• In 2022, Aleid Foods Company continued to work on developing its operation lines to enhance its position in the local and regional markets, attaining many remarkable achievements within the Goals 25 expansion strategy, by focusing on multiple levels, namely:

First: the Expansion in the Gulf region, by opening Aleid Foods Company in Dubai, the hub of the commercial activity in the region, during the first quarter of 2022  in line with the launch of the Goals 25 strategy, and then establishing Aqtar Alkhaleej Company in Riyadh, to be a focal point for the expansion of the company’s operations in the Kingdom of Saudi Arabia.

Second: Attracting various international, regional, and local brands to our product basket, the most important of which is the world-renowned Indian brand Allana, which Aleid Foods is the exclusive distributor of its frozen and fresh meat products, all packaged without preservatives, and ready for retail sale in parallel markets and hypermarkets in the Kuwaiti market. Milky Mist brand, which provides a variety of healthy dairy and cheese products that satisfy the changing and varying requirements of consumers, in addition to the eminent Dutch brand Van den Berg, offering a wide range of crackers, snacks, biscuits, and professionally baked Dutch bread of highest international standards.

At the regional level, Aleid added Freshly to its product basket, the most renowned and widespread Emirati brand in the region in general and Kuwait in particular, which is adopted in most famed restaurants chains such as Burger King, IKEA, and others, and Nabil brand – National Biscuits Industries from the Sultanate of Oman, which is known for biscuits, wafers and snacks products

Locally, the company focused on adding products that satisfy the tastes of different gourmet consumer segments, the most important of which was the AlKazi brand, offering a variety of high-quality and innovative dairy products, cheeses, and olives with unique original flavors.

Third: Building effective partnerships and signing agreements with a number of young entrepreneurs in the local food sector to expand the marketing of their products distinguished by their quality and ideas, with the aim to reach the largest local consumer segments, especially gourmet consumers. In this context, Aleid Foods Company signed an acquisition and partnership contract with the Brunch Company for ready-made meals, which includes innovative brands such as XO Street Food, Como, and Firin.

Fourth: Entering new sectors to expand in meeting the desires of the largest segment of consumers, which reflects positively on the company’s size and positioning in the market and that was achieved by entering the healthy food and supplements sector by acquiring HealthLand Application specialized in organic, vegan and healthy food products and supplements.

Fifth: Developing the existing branches of the company and establishing new ones to enter new food sectors, in this context Aleid established The Bakery & Confectionery Center which launched Morena chocolate as its first brand, in addition to launching the Food Supply Center and the Roastery and Mill Center branches, as for the Food Supply Center it has a special position and journey which started by collaborating with Qassar Brand to prepare special products, and Some time ago, we started producing Bouquet Garni brand specialized in traditional Kuwaiti cuisine, in addition to the La Chorreada brand for Mexican food.

• What about Aleid Foods’ bold venture in entering Saudi Arabia specifically the city of Riyadh, as the first city to expand in the Saudi market within the Aleid regional expansion strategy Goals 25?

• Riyadh is the dynamic heart of the Kingdom of Saudi Arabia, because of its strategic location, in addition to being the main engine for achieving the Kingdom’s Vision 2030 goals, and due to its great importance, it was chosen to be the outset of the company operational expansion within the geographical framework of Saudi Arabia.

After the establishment of Aqtar Alkhaleej Company in the Kingdom of Saudi Arabia, we set up an advanced operational program based on diversifying the product basket by keeping some current products and adding new ones to suit consumers’ tastes in the Saudi market, the region’s largest, most significant, and fastest-growing market, with a growth rate expected to reach 6% in the next five years, in addition, studies and statistics show that the consumption of food goods in the Kingdom of Saudi Arabia constitutes 60% of the total food consumption in the Gulf for several reasons, most importantly the fact that KSA has the largest population in the Gulf with 35.84 million population representing 70% of the total population in GCC countries, and with 37.44% of them being under the age of 25.

• The food market in Kuwait is distinguished by its high purchasing power, putting it at the forefront of the most attractive food markets for food suppliers at the regional and global levels, What is are your vision of its reality and its future?

• The Kuwaiti gourmet consumer is the real driving force behind the food market in Kuwait, and due to frequent travel, he is highly demanding and always seeking everything new, unique and of high world-class quality. With his ever-changing food tendencies, the Kuwaiti consumer depicts the reality of the local food market, remarkably directing the size and quality of the projects created by young Kuwaiti entrepreneurs locally, which qualifies them to lead the food renaissance movement across the Gulf region in the future, especially with the increase of commercial franchises of brands and restaurant chains created by Kuwaiti entrepreneurs, remarkably growing and gaining popularity and spreading from Kuwait to the rest of the Gulf countries.

• Aleid Foods’ share recorded remarkable leaps on Boursa Kuwait during the last three years, especially after the company signed two market maker contracts with Tharwa Investment and Al-Markaz, and beginning of 2022 the company’s efforts paid off with its inclusion in the market main 50 index. What are the effects of this on the current and future position of Aleid’s share?

• The journey of advancing Aleid’s share, which was accompanied by a focus on raising the financial performance indicators of the company, was a fundamental and differentiating pillar in the restructuring program to gain the confidence of investors and achieve sustainable returns for shareholders and partners.

several factors contributed to Aleid’s share reaching the main market 50 index at a solid and deliberate pace, most notably the small number of companies listed on Boursa Kuwait in the food sector coupled with Aleid’s focus on advancing its operations and setting standards that are compatible with internationally approved standards to upgrade its performance, also the accelerated growth the tremendous development that has occurred in the food sector globally in recent years, as it has become one of the most attractive sectors for investors in the regional and global financial markets, especially with its remarkable intersection with other economic sectors such as the tourism sector, hotels, agriculture, etc… in addition to the ability of the food sector to achieve sustainable development goals due to its dynamic and evolving nature.

And within the framework of Aleid’s commitment to reinforcing its share and enhancing its position as a safe and sustainable investment, we have focused in recent years on strengthening the relationship with shareholders to become partners in our journey of success and profit-making as well, which was translated by ensuring the distribution of rewarding profits, the latest of which was the distribution of 8% cash dividends and 17% bonus to shareholders for the Fiscal year ending December 31, 2021.

• What about the cooperation of Aleid Foods with Arqaam Capital?

• Arqaam Capital is a leading and experienced company in providing consultancy services and financial analysis with over 15 years of experience, and this collaboration aims to support the company’s endeavors towards opening new horizons for the development of its investments and in its local and regional expansion plans by strengthening relations with existing investors and shareholders, and attracting new initiators and investors looking for opportunities to invest in emerging financial markets. Aleid Foods Collaboration with Arqaam will include working on several levels, the most important of which is the seasonal analyst conference dedicated to analyzing the company’s financial results, and the first conference was held last November to discuss and analyze the financial results of Aleid Foods Company for the first nine months of 2022, In addition to issuing periodic reports about Aleid Foods to study the Goals_25 strategy and analyze its indicators and implications on the company’s operational performance and development rates, noting that the initial report was issued last August.

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To enable itsAleid Foods records an increase of 42.18% in Earnings per share and 49.28% in its total operating revenue

In its meeting today, Aleid Foods Board of Directors approved the financial report for the nine months ending on September 30, 2022, indicating a 42.18% increase in the company’s earnings per share compared to the same period last year.

The report revealed a 49.28% increase in the company’s total operating revenue in the nine months of the current year amounting to 22,979,189 million dinars, compared to 15,392,563 million dinars for the same period in 2021. The company’s net profit surgāed by 42.18% to reach 2,160,781.1 million dinars, compared to 1,519,689 million dinars in the same period last year. The report indicated that the total private equity of the company’s shareholders increased by 8.25%, to record 22,097,994 million dinars in the nine months of the current year, compared to 20,413,062 million dinars recorded in the nine months of last year.

The company’s total operating revenue increased by 41.55% in the third quarter of 2022 reaching 7,200,863 million dinars, compared to 5,087,095 million dinars in the third quarter of 2021.

Aleid Foods company CEO, Eng. Muhammed Al-Mutairi stated that the company focused its efforts in the third quarter of the current year, on activating its regional expansion plans within its Goals 25 strategy by establishing Aqtar Al-Khaleej Company based in Riyadh to be the launching point of the company’s geographical expansion of its operation into the Kingdom of Saudi Arabia, which has a unique nature in terms of its population density which constitutes 60% of the total food consumption in the Gulf. Al-Mutairi pointed out to the advanced and agile operational plan set for the company with distinctive balancing factors between diversifying the product basket to continuously adding new and trending products catering to the market needs, and maintaining the list of current brands and products while enhancing varieties, to enable the company’s growth into the Saudi food market and ensuring its competitive edge while being the preferred supplier and partner for the exceptionally demanding consumers.

Al-Mutairi added, as part of Aleid’s objective to achieve continuous growth of its business model, coupled with expanding into new sectors, the company made a new and unique turning point that is a special personal interest of mine with the acquisition of the locally leading HealthLand Application for healthy products, which has more than 5 years of providing a successful digital business and marketing experience of high-quality healthy and organic products, hence enabling Aleid Foods company to enter the digital distribution sector of health products.

Al-Mutairi concluded by emphasizing that Aleid Foods achieved most of its goals and plans set for 2022, especially those related to its regional expansion strategy Goals 25, noting that 2022 was the year of planning and organizing to support the company with solid pace in its journey of continuous growth and the commitment to achieving sustainable returns to shareholders and investors, which will provide the company’s impetus to launch the new phase of initiation into 2023.

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