Import & distribution of raw materials for food industry.
Hamama Sahar finished 2025 with a sharp profitability improvement, but the quality of the year now depends on whether those earnings can be converted back into cash and whether the Ultra process becomes clearer.
Hamama’s earnings improved in 2025, but the model still has not proved it can fund itself cleanly; cash was absorbed by working capital and replaced with more short-term credit.
If the Ultra transaction closes, Hamama's existing shareholders who do not exit through the tender offer will be left with a minority stake in a company whose only operating business is Ultra, after the sale of the food business, a management change, and an effective transfer of…
