Savola was founded in the Kingdom of Saudi Arabia in 1979 with around 200 employees and share capital of SAR 40 million. At the time, Savola was a small company that imported vegetable oils and refined them before selling them in the local market. But we followed the path of successful companies, set a clear vision for the future of our company, and decided to become a leading strategic investment group in the region and to deliver returns to shareholders and investors. The following decades saw hard work and dedication, which brought further growth and progress, followed by more expansion and diversification of investments. Naturally, we faced strong competition at first from established international companies, but we made a point of understanding our consumers’ needs and preferences and, thanks to God, succeeded in establishing our name in the market. In-depth research into the commodities market also helped us reduce costs and increase profit margins. In 1994, Savola entered the sugar market and invested in the first sugar refinery in Jeddah, with a production capacity at the time of 500,000 tons per year. We also focused on expanding our food sector operations to Egypt, Algeria, the Levant, Central Asia, and Sudan. Within a few years we took another bold step to diversify our investment portfolio by entering the retail sector and acquiring the Al Azizia Panda United stores group in 1998. We were able to elevate the already distinguished Panda brand and benefit from its real estate assets. At the same time, we bought minority stakes in companies operating in sectors related to our business, such as Almarai, Herfy, and Kinan, and made strategic investments in sectors outside our two core business sectors. Today, nearly four decades after Savola was founded, we have achieved remarkable results, but we know that satisfying investors and earning their trust takes more than high profit margins. Shareholders know they are dealing with a trustworthy partner thanks to our commitment to the ethical principles embodied in our brand purpose: “Value built on values.” We believe these guiding principles are the strong foundation on which we will build our future success.