Edita Food Industries (EFID. CA) is targeting a 15-20% revenue growth in 2017 supported by an increase in the company’s production capacity to 158,000 tonnes from 151,000 tonnes currently. The company also plans to raise its exports to 10% of production aiming to expand in the GCC. According to CEO Hani Berzi, Edita will invest EGP450mn to add two wafer and cake production lines in its new E08 factory, which are expected to  start operations in 2Q17. The company’s 2017 budget was prepared using an average FX rate of EGP18.25/USD. 

Edita Food Industries: EGP17.00 as of 2 Apr. 2017, Rating: Neutral, TP: EGP11.80/share, MCap: USD678mn, EFID EY/EFID.CA