Abu Dhabi – Mubasher: Invictus Investment Company has recorded a 164% surge in EBITDA to AED 189.70 million in the first half (H1) of 2025, compared to AED 71.90 million in H1-24, according to a press release.

The positive results reflect the impact of additional EBITDA from acquisitions, stronger performance across key segments, and enhanced supply chain capabilities.

Revenues increased by 43% year-on-year (YoY) to AED 6.10 billion, marking the company’s highest half-year results to date, compared with AED 4.30 billion in the same period last year.

Moreover, the total comprehensive income hit AED 105.30 million.

The CEO of Invictus, Amir Daoud Abdellatif, said: “Our first-half results reflect the strength of our integrated strategy and the discipline with which we are executing it. We delivered strong growth during a period of active investment and integration, which speaks to the resilience of our operations and the way our teams continue to deliver.”

Abdellatif noted: “The significantly improved EBITDA margins alongside an increase in revenue shows that we are scaling efficiently, while the rise in commodity transaction volumes reflects the early impact of our recent acquisitions and the momentum we are building across key markets.”

The January-June 2025 period saw strategic progress, including the integration of Merec Industries, Mozambique’s largest flour milling company, following its acquisition on 31 January.

In May, Invictus Investment also signed an agreement to acquire a 65.25% stake in Angata Limitada, a fertilizer blending company in Angola, which marked Invictus’ entry into the agro-input segment and expanding its upstream capabilities in sourcing and production.

“The integration of Merec Industries has outperformed our initial expectations and the upcoming addition of Angata Limitada will bring added depth to our value chain,” said the CEO.

These developments, along with the financial consolidation of Moroccan agro-trading leader Graderco, in which Invictus acquired a 60% stake in 2024, have significantly enhanced the company’s processing capabilities across Africa.

Abdellatif concluded: “We are on track and confident in the targets we have set – both in becoming a fully integrated agro-food enterprise and reaching AED 25 billion in revenue by 2028. By investing further in midstream and downstream assets across key African markets, we are continuing to build momentum.”

He added: “Our focus is on acquiring majority stakes in businesses valued around AED 1 billion, and we are currently evaluating other strategic acquisitions in the basic foods segment this year.”

In terms of operational performance, commodity transaction volumes reached record levels, soaring 104% to 6.90 million metric tons from 3.40 million metric tons in H1-24. Results were driven by the integration of operations from recent acquisitions and continued growth in the company’s core markets.

Total equity meanwhile increased 18% YoY to AED 1.30 billion, further strengthening the company’s financial position as it continues to scale.

Geographic expansion also continued at pace during H1-25, with the company entering 10 new markets including Iraq, Lithuania, Cameroon, Ghana, Madagascar, Liberia, Mauritania, Nigeria, South Africa and Zimbabwe, bringing its global presence to 65 countries. This expansion was complemented by strong organic growth across existing markets, particularly in the Middle East and Africa, where demand for staple agro-food commodities is strong and on the rise.