Grain and Oilseed Milling, Agricultural Feed Production
Strategic Profile
The company is a market-leading milling player in the kingdom, incorporating innovative solutions to produce the highest quality flour, feed, bran, and wheat derivatives. It serves industrial players, commercial bakeries, restaurants, catering businesses, wholesalers, modern and traditional trade customers, farms and feed distributors, and retail customers.
Cyborg Score Rationale
First Milling is a market-leading player in Saudi Arabia's essential food security sector with established infrastructure and diversified customer base. The company benefits from strategic government origins and operates in a stable, essential market, though it operates in a commodity-dependent business with modest growth metrics.
Top Insights
Founded in 2017 as a result of the privatization of the General Food Security Authority GFSA, giving it government-backed origins and strategic importance
Market capitalization of $749M with trailing 12-month revenue of $280M as of mid-2025
Jeddah plant is the largest and located in close proximity to the Jeddah Islamic Port, connecting to world's Eastern and Western shipping corridors
Products marketed under the Aloula, Naffa'a, and First Mills brand names
Named Competitors
Flour and grain milling products — Regional competitor in grain milling
Food security and agricultural products — Diversified food and beverage producer
Recent Developments
(June 2023) Completed IPO on Saudi Exchange at SAR 60 per share, implying market capitalization of SAR 3.330 billion
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