Company Profile: First Milling Company (First Mills)
Background
First Milling Company, known as First Mills, is a leading Saudi milling enterprise specializing in the production of high-quality flour, animal feed, bran, and various wheat derivatives. Established in 2017 following the privatization of the General Food Security Authority (GFSA), First Mills plays a pivotal role in Saudi Arabia's food security infrastructure. The company operates four strategically located, large-capacity mills in Jeddah, Qassim, Tabuk, and Al-Ahsa, ensuring comprehensive coverage across the Kingdom. Its mission is to be the reliable source of innovative, high-quality products in the food and feed sectors, committed to enabling food availability and sustainability. The vision is to be the first partner of choice in the food and feed sectors and a credible source of vital products for communities and markets across the region.
Key Strategic Focus
First Mills' strategic focus encompasses several key objectives:
- Market Leadership: Enhancing its position as a market leader in the milling industry within Saudi Arabia.
- Capacity Expansion: Increasing production and storage capacities while better integrating its value chain.
- Product Diversification: Entering new product categories synergistically, such as utilizing its flour in innovations and manufacturing cake mixes.
- Operational Excellence: Building an efficient and distinguished operational framework to enhance value chain integration and operational efficiencies.
The company utilizes advanced milling technologies and maintains a strong focus on quality control to meet the diverse needs of its clientele. Its primary markets include large industrial players, commercial bakeries, restaurants, catering businesses, wholesalers, modern and traditional trade customers, farms, feed distributors, and retail customers across Saudi Arabia.
Financials and Funding
As of June 30, 2025, First Mills reported the following financial highlights:
- Revenue: SAR 0 million
- Gross Profit: SAR 0 million
- Operating Profit: SAR 0 million
- Net Profit: SAR 0 million
- Earnings Per Share: 0 SAR
- Dividend Per Share: 0 SAR (for the first half of the year 2025)
In May 2023, First Mills announced its intention to proceed with an initial public offering (IPO) and listing on the Saudi Exchange, aiming to float 30% of its share capital. The offering was priced between 55 and 60 riyals per share.
Pipeline Development
First Mills continues to focus on expanding its product offerings and enhancing operational efficiencies. While specific details on pipeline candidates and development stages are not publicly disclosed, the company's strategic initiatives include:
- Product Innovation: Developing new product categories to meet evolving market demands.
- Capacity Expansion: Increasing production and storage capacities to support growth.
- Operational Integration: Enhancing value chain integration for improved efficiency.
Technological Platform and Innovation
First Mills employs advanced milling technologies and maintains a strong focus on quality control to meet the diverse needs of its clientele. The company is committed to operational excellence and product innovation, ensuring high-quality products and services.
Leadership Team
The leadership team at First Mills comprises experienced professionals dedicated to the company's mission and vision. Key members include:
- Mr. Tariq Almutlaq: Chairman
- Eng. Abdullah Ababtain: Chief Executive Officer
- Mr. Ahmad Kadous: Chief Commercial Officer
- Mr. Manwel Bou Hamdan: Chief Financial Officer
- Mr. Michael J. Albers: Chief Operating Officer
These leaders bring extensive experience in the milling and food production industries, guiding First Mills towards achieving its strategic objectives.
Competitor Profile
In the Saudi milling industry, First Mills faces competition from several key players, including:
- United Feed Company: Specializes in animal feed production and has a significant market presence.
- Al Ghurair Foods: A diversified food company with operations in milling and other food products.
- Almarai Company: Primarily known for dairy products but also involved in flour milling.
These competitors vary in size and product offerings but collectively contribute to a competitive landscape in the Saudi milling industry.
Strategic Collaborations and Partnerships
First Mills has engaged in strategic collaborations to enhance its market position and operational capabilities. Notably, in 2020, the company was acquired by the Raha AlSafi consortium, which includes:
- Almutlaq Group: A Saudi Arabian conglomerate with diverse business interests.
- Al Safi: A leading food company in the region.
- Abunayyan Holding: A diversified group with interests in various sectors.
- Essa Al Ghurair Investment: A UAE-based investment firm.
This consortium has provided First Mills with the resources and expertise to strengthen its operations and expand its market reach.
Operational Insights
First Mills' strategic considerations include:
- Market Position: Leveraging its significant market share to maintain a leadership role in the Saudi milling industry.
- Competitive Advantages: Utilizing advanced milling technologies and a comprehensive distribution network to serve a diverse customer base.
- Differentiators: Emphasizing quality control, operational efficiency, and product innovation to distinguish itself from competitors.
Strategic Opportunities and Future Directions
First Mills is well-positioned to capitalize on several strategic opportunities:
- Market Expansion: Exploring new regional markets to increase its footprint.
- Product Diversification: Developing new product lines to meet evolving consumer preferences.
- Operational Enhancements: Investing in technology and infrastructure to improve efficiency and capacity.
The company's strong leadership, strategic partnerships, and commitment to quality position it to achieve its future objectives and maintain its role as a cornerstone of Saudi Arabia's food security ecosystem.
Contact Information
- Website: www.firstmills.com
- Social Media:
- LinkedIn: First Mills
- Twitter: @FirstMills
- Facebook: First Mills
First Mills continues to play a vital role in ensuring food security and sustainability in Saudi Arabia, with a clear strategic vision and a commitment to excellence.
