Invictus Investment PLC, a prominent player in the agricultural food trading sector across the Middle East and Africa and listed on the Abu Dhabi Securities Exchange, has disclosed its financial results for the six months ending June 30, 2025. The company has reported a remarkable increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) by 164%, reaching AED 189.7 million compared to AED 71.9 million in the first half of 2024. This substantial growth is attributed to recent acquisitions, enhanced performance in key segments, and improvements in supply chain capabilities. Additionally, revenue surged by 43% year-over-year to AED 6.1 billion, marking the highest half-year revenue ever achieved by the company, up from AED 4.3 billion during the same period last year. The total comprehensive income rose to AED 105.3 million.
Operationally, the company performed strongly, with commodity transaction volumes hitting record highs, increasing by 104% to 6.9 million metric tons compared to 3.4 million metric tons in the first half of 2024. These positive results stem from the integration of operations from recently acquired companies, alongside continuous growth in primary markets. Total equity increased by 18% compared to the same period last year, reaching AED 1.3 billion, which strengthens the company’s financial position and its capacity for sustainable growth.
Amir Dawood Abdul Latif, CEO of Invictus Investment, stated, “The results for the first half of this year reflect the strength of our integrated strategy and our commitment to its execution. We have achieved notable growth during the period of ongoing investments and acquisitions, highlighting the resilience of our operations and our teams’ ability to deliver positive results. The significant rise in EBITDA margins, along with revenue growth, underscores our efficiency in scaling our business, while the increased commodity transaction volumes demonstrate the impact of recent acquisitions and ongoing advancements in key markets. The outcomes of our acquisition of Merrick Industries have exceeded our initial expectations, and we anticipate that acquiring Angata Limitada will significantly enhance our value chain.”
Notable strategic progress occurred in the first half of 2025, including the acquisition of Merrick Industries, the largest flour milling company in Mozambique, on January 31. Additionally, in May, Invictus Investment signed an agreement to acquire a 65.25% stake in Angata Limitada, a fertilizer blending firm based in Angola, marking the company’s entry into the agricultural input sector and bolstering its supply and production capabilities. These acquisitions, combined with the financial consolidation of Gradireco, a leading Moroccan agricultural products trader in which Invictus invested 60% in 2024, have enhanced the company’s operational capacity and expanded its presence in Africa.
Furthermore, Invictus Investment has accelerated its geographical expansion during the first half of 2025, entering 10 new markets including Iraq, Lithuania, Cameroon, Ghana, Madagascar, Liberia, Mauritania, Nigeria, South Africa, and Zimbabwe, bringing its operations to 65 countries. This expansion has strengthened the company’s footprint in the markets it operates, particularly in the Middle East and Africa, where demand for agricultural food products is rising.