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Almarai Board of Directors approves a strategic plan for the next five years, with investment spending exceeding 18 billion Riyals.
| Element List | Explanation |
|---|---|
| Announcement Detail | The board of directors of Almarai has approved the company's strategic plan for the five years ending December 2028, during its meeting on Monday, March 18, 2024. The plan aims to enhance continuous growth, maximize sales, and improve financial performance across multiple segments. The strategic plan focuses on several strategic enablers to support its implementation, such as supply chain capabilities, brand strength, innovation and development, sustainability, operational efficiency, technology, as well as human capital capabilities. The strategic plan includes an investment program exceeding 18 billion Saudi riyals, allocated to multiple strategic pillars and capabilities, some of which have begun to be implemented. Nearly 7 billion riyals will be dedicated to poultry expansion, 5 billion riyals to strengthening existing core product categories (Dairy, Juice, and Bakery), 1 billion riyals to entering promising new food segments, and 4 billion riyals to developing supply chain and sales capabilities to support local and regional expansion plans. Finally, 1 billion riyals will support and accelerate technology development, reflecting the company's commitment to invest in innovation. The strategic plan will be financed from the company's operational cash flows over the next five-year period. The board of directors is confident that the ambitious goals will be met, given the well-defined strategies and dedicated action plans to reinforce strategic pillars, and is committed to activating all necessary enablers. The strategic plan, which is consistent with the Kingdom’s Vision 2030, as well as the investment program behind it, confirms the belief of Almarai’s Board of Directors that investment in the food industry contributes to achieving food security in the Kingdom and the region while adding value to shareholders. Almarai has been since 1977 committed to making its products the consumer's top choice and maintaining its position in target markets by offering high-quality products that meet and exceed consumer expectations. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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