- Revenue reported for the nine-month period over AED 4.4 billion in 2022 compared to AED 1.96 billion for the similar period in 2021
- On a comparable basis, net profit jumped AED 388 million in 2022 from AED 202 million in 2021
Abu Dhabi, UAE – Invictus Investment Company Plc (ADX: INVICTUS) published its financial results for nine-months ended 30 September 2022. Revenues increased by 125% to AED 4.4 billion and a total net profit of AED 388 million through a continual focus on geographical location expansion, and a sustained rise in trade volume and revenues across all product lines.
Key highlights include:
- Substantial increase in revenue from food grains: the revenue from traded wheat shot up by 158% compared to the same time as 2021, a third consecutive growth for the product line in 2022. Other products such as lentils, sesame, yeast, etc also experienced an overall revenue growth of 28%.
- Addition of new products: As proposed in the company’s growth plans, this year we introduced fertilizers as a key product for our customers and added over AED 140 million to our revenues.
- Other essentials: Essential foods such as milk powder recorded a 136% growth adding over AED 215 million in revenue and sugar grew by over 200% to achieve revenues of AED 479 million this year so far.
- Packaging and capital goods: A 76% increase in revenue from movement of essential packaging materials and capital equipment have added over AED 430 million in revenues for the nine-month period ended 30 September 2022.
- Strong operating cashflows: we also experienced a robust growth in our net cash flows from operations, increasing from AED 97 million in 2021 to AED 297 in 2022 for the same time period.
- Expansion of geographical reach: our operations in Middle East, Africa and Asia generated 100%, 124% and 35% growth respectively, with cumulative revenues of over AED 3,969 million through a sustained focus on increasing connectivity between local producers to the global markets. Our increased operations in Europe experienced over 600% growth to add AED 434 million in revenue while also expanding our network to the Unites states of America.
Amir Daowd Abdellatif, CEO said: “2022 has been excellent for us on all fronts. Since our listing on the Abu Dhabi Securities Exchange (ADX) earlier this year, we have continued to post strong results. The last two years have highlighted the commodity trading sectors role in ensuring that the future of food is safe and secure. At Invictus, our aim is to connect producers and consumer across the globe, and our financial reports reiterate this.
We also continue to benefit from the UAE’s economic vision and world-class infrastructure. Our results validate the efforts we deploy to provide bespoke solutions that are tailored to the unique needs of our clients. This Q3 report exemplifies our core value of progression as we continue to expand our geographical reach.
We have generated revenues in the excess of AED 4.4 billion and our profit margins over 10% which is extremely healthy. We have invested and will continue to invest in our offerings to remain focused on generating high returns on investment for our stakeholders.”
The full financial report is available on https://www.adx.ae/
About Invictus Investment
At Invictus Investment (ADX: INVICTUS), we connect producers and consumers to deliver essential food grains, finished goods and other commodities with particular focus on Africa, the Middle East, and Asia.
We have connected our diverse sourcing network to expand our value chain to include smallholder farmers across markets to create and reimagine the future of food, developing tailored and innovative solutions to meet evolving needs globally.
Invictus Investment operates a 100% owned subsidiary Invictus Trading FZE that was incorporated in 2014, which is headquartered in Dubai, UAE, and presently operates in 70 countries.
For more information, please visit: https://invictusinvestment.ae/
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