Mezzan Holding Reports Full-Year 2024 Results

KUWAIT CITY, March 20, 2025 (GLOBE NEWSWIRE) — Mezzan Holding KSC (Bloomberg: MEZZAN.KK, Reuters: MEZZ.KW), one of the largest manufacturers and distributors of food, beverage, FMCG, and pharmaceutical products in the Gulf region, announced the company’s FY2024 financial results.

FY 2024 Earnings Highlights:

• Revenue: KD 286.1 million, up by 5.5%.
• Operating Profit KD 22.5 million, up by 19.0%.
• EBITDA: KD 31.5 million, up by 12.9%.
• Net Profit: KD 15.5 million, up by 21.8%

Mezzan Holding Vice Chairman, Mohammad Jassim Al Wazzan, said: “Mezzan Holding’s financial performance in 2024 reflects sustained momentum, with growth across all key metrics, a stronger balance sheet, and a steady increase in total assets over the past four years. The decline in net debt to capitalization further strengthens our financial position, providing greater flexibility to support our strategic growth both in Kuwait and internationally.”

Mezzan Holding CEO for Food and FMCG, Amr Farghal, said: “With double-digit growth in 2024 in net profit and a record revenue achieved since IPO, the company today runs a strong and in-demand product portfolio across business lines, positioning it for sustained growth in the coming period.”

FY 2024 Financial Performance Review:

● Food Business Line:
Revenue stood at KD 187.2 million, reflecting an increase of 5% compared to 2023. The Food Business Line accounted for 65.4% of Group Revenue. The Business Line comprises the following three business divisions: Food Manufacturing and Distribution (generating 53.9% of Group Revenue), Catering (generating 5.9% of Group Revenue), and Services (generating 5.6% of Group Revenue):

• Manufacturing and Distribution: revenue increased by 7.7%.
• Catering: Revenue declined by 19.7%.
• Services: Revenue increased by 14.9%.

● Non-Food Business Line:

Revenue stood at KD 99 million, representing a growth of 6.5% compared to 2023 full-year revenue. The Non-Food Business Line accounted for 34.6% of Group Revenue. The Business Line comprises the following divisions: FMCG and Healthcare business division (generating 32.5% of Group Revenue) and Industrials (generating 2.1% of Group Revenue).

• FMCG and Healthcare: Revenue increased by 7.6%.
• Industrials: Revenue declined by 9%.

Media:
Saad Al-Barazi | +965 97517143 | saad@bensirri.com

Investor Relations:
Omar Fouda | +965 2228 6475 | ir@mezzan.com