Juhayna Food Industries (JUFO) Q2 2026 earnings summary

Executive summary

• H1 2026 net revenue rose 25% YoY to EGP 17.678bn; Q2 revenue increased 23% to EGP 9.078bn, driven by local sales and finished-goods exports.

• H1 net profit rose 23% to EGP 1.382bn; Q2 net profit increased 48% to EGP 713.1m.

• Double-digit volume growth in fermented and juice products, market-share gains and seasonal demand supported growth; higher input and logistics costs pressured margins.

• Management entered H2 confident, citing continued volume momentum, stronger inventory coverage and expected benefits from H1 pricing actions.

Financial highlights

• H1 gross profit was EGP 4.326bn, with a 24.5% margin; Q2 gross profit was EGP 2.157bn, with a 23.8% margin.

• H1 EBITDA rose 15% YoY to EGP 2.67bn, with a 15.1% margin; Q2 EBITDA was EGP 1.29bn, with a 14.3% margin.

• H1 net profit margin was 7.8%; Q2 net profit margin was 7.9%. H1 adjusted net profit excluding FX was ~EGP 1.3bn, versus reported net profit of EGP 1.382bn.

• H1 SG&A was EGP 2.02bn, or 11.4% of sales, up 0.3 percentage points YoY; Q2 was 11.5%, up 0.1 points.

• H1 finance costs, net, rose to EGP 573.2m from EGP 484.4m; finance costs were partly offset by interest income and FX gains.

Outlook and guidance

• FY 2026 revenue and net income guidance remained at the range set at the start of the year and reaffirmed after Q1; management said the run rate reflected the trajectory.

• H2 volume trends were tracking Q2; pricing benefits are expected to build as they annualize, with procurement and cost discipline continuing.

• No further 2026 price increases are expected under business-as-usual conditions; April price and discount changes briefly softened May volumes, which recovered in June.

• H2 CapEx is expected to be ~EGP 1bn; multi-year plans are being revised, with further clarity expected in Q3.

• Finished-product export growth and additional foreign markets are targeted; management also expressed confidence in continued recovery in Egypt.