Food Investments
OUR INVESTMENTS IN THE FOOD VERTICAL CONTINUED TO DELIVER HEALTHY FINANCIAL RESULTS IN 2022, DESPITE AN UNSETTLING YEAR IN TERMS OF CONTINUED COMMODITY AND OPERATING EXPENSES INCREASES DUE TO GEOPOLITICAL DISRUPTIONS ELSEWHERE.
Edible Oil and Fats
12,046
Sugar
3,226
Pasta
528
Others
641
ALMARAI
Almarai remains at the forefront of innovation in the sector, introducing new product offerings that cater to the evolving needs of the local population while playing a key role in the Kingdom’s food security.
Revenue
SAR billion
Net income
SAR billion
Gross profit
SAR billion
Savola Group acquired 51% of Al Kabeer in 2018 to diversify and enter into the frozen food space and value-added product categories.
AL KABEER
Revenue
SAR million
Net income
SAR million
PANDA RETAIL
Panda Retail Company (Panda) continued its transformation journey in 2022. The company’s Customer Experience Revival program (CXR) is reshaping the look and feel of its stores and enhancing the overall customer shopping experience. The program has resulted in complete upgrades of 45 stores, setting the stage for positive momentum going forward.
HERFY FOOD SERVICES COMPANY
Herfy is one of Saudi Arabia’s leading fast-food brands and a key player in the nation’s Quick Service Restaurant (QSR) space. Savola Group is the largest shareholder in Herfy, with a 49% holding in the company.
Revenue
SAR million
Gross profit
SAR million
