AlphaMena Corporate Services - Kuwait Food Co. (Americana) S.A.K. (FOOD) Americana group bought by company led by UAEâ€™s Mohammad Al Abbar

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AlphaMena Corporate Services

EUR 236.14 For Business Accounts Only

Americana group bought by company led by UAEâ€™s Mohammad Al Abbar

A Dubai-based investor group led by Emaar Properties PJSC Chairman Mohamed Alabbar (a businessman in the real estate and property development industry of the United Arab Emirates) plans to take a 69% stake in Middle East fast-food operator Kuwait Food (valued at US$1.74bn by AlphaMena). No financial details of the transaction were given.
Adeptio LLC signed an initial accord to buy the stake in Americana from Al Khair National for Stocks and Real Estate LLC.

05/02/2016 2 EN

Underlying

Kuwait Food Co. (Americana) S.A.K.

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KW0EQ0701247 Kuwait

Provider

AlphaMena Corporate Services

AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.

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AlphaMena Corporate Services

HAPPY FIFTIETH ANNIVERSARY

The Companyâ€™s sales for the year amounted to KDW922.4M at a growth rate of 6.4% over the previous year (vs. 7% Sales CAGR in the past five years). Revenues from the operations in the Gulf region went up by 7.7% to KWD561.5M, and those in Egypt and Africa have also increased by 4.2% to KWD311.7M. From a sector standpoint, the Restaurants & Retail Sector's revenues increased by 8.6% to KWD531.436M. Similarly, the revenues of the Food Industries Sector increased by 3.7% to KWD460.761M.

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Resilient despite the turmoil

Resilient despite the turmoil SIGNIFICANT NEWS Jordan Ahli Bank’s 9M 2020 net profit declined by 44.80%, yoy, to JOD8.885m due to the rise of the cost of risk which more than tripled reaching JOD12.430m. Loans and deposits rose by 1.81% and 0.25%, ytd, respectively, reflecting the harsh operating context. However, we expect the bank to maintain a strong equity generation capacity and we expect JAB’s Tier 1 to stand at 14.75% by the end of 2020 (vs. 14.54% in 2019). FACT Jordan Ahli Bank announced a high double-digit decline rate in its 9M 2020 net profit, reaching JOD8.885bn. The rise in...

November 27, 2020 November 27, 2020 3 EN

Belhassen Achour

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Tough year but better long term perspectives (Jordan Ahli Bank)

Tough year but better long term perspectives EPS CHANGE CHANGE IN EPS2020 : JOD 0.06 vs 0.05 +19.7% 2021 : JOD 0.09 vs 0.11 -15.6% We have revised upward our 2020 EPS (JOD0.06 vs. JOD0.05 previously forecasted) as we expect JAB to generate significant revenues, offsetting thus, the cost of risk’s rise (revenues would reach JOD108m vs. JOD97.2m previously expected). CHANGE IN NAVJOD 0.87 vs 0.97 -10.0% We have revised upward our NAV (JOD0.87 vs. JOD0.97 previously expected) due to JAB’s minor issues to enhance its capital generation capacity. CHANGE IN INTRINSIC VALUE JOD 0.86 vs 1.03 -16.6...

November 27, 2020 November 27, 2020 2 EN

Belhassen Achour

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A boost is needed

A boost is needed INITIATION COV. Founded in 1955, Jordan Ahli Bank (JAB), accumulates a banking experience that exceeds the 60 years. JAB, has been listed on Amman Stock Exchange since April 2007 and is, today, one of the 6 largest Jordanian banks in terms of assets. In 2019, Jordan Ahli Bank operated through four business segments. The most important segments are Retail and Corporate banking divisions. Meanwhile, the bank has Treasury and Financial Brokerage segments. In addition to its widespread network on the local market, the Jordanian bank also operates through four subsidiaries. Off...

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Americana group bought by company led by UAEâ€™s Mohammad Al Abbar

Ford Equity International Rating and Forecast Report

HAPPY FIFTIETH ANNIVERSARY

Resilient despite the turmoil

Tough year but better long term perspectives (Jordan Ahli Bank)

A boost is needed

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