Rak Ceramics Pjsc · ADX:RAKCEC
Rak Ceramics Pjsc — Q3 2021 Earnings Presentation
21 slides from Rak Ceramics Pjsc's earnings presentation, November 2021
Slide 1: Earnings Presentation - Q3 & 9M 2021 Results
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS NOVEMBER 2021 RAK Ceramics PJSC © 2021 All rights reserved
Slide 2: Attendees
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Attendees Abdallah Massaad PK Chand Group Chief Executive Officer Group Chief Financial Officer Abdallah Massaad is Group CEO of RAK Ceramics and has more than 23 years Pramod Kumar Chand is the Group Chief Financial Officer of RAK Ceramics. Mr. Chand exp
Slide 3: Disclaimer
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Disclaimer This information contained in the enclosed presentation summarises preliminary and and past performance is not indicative of future results. The Company undertakes no introductory information on RAK Ceramics PJSC (the Company). This presentatio
Slide 4: Revenue and profitability surpass pre-pandemic levels
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Revenue and pro tability surpass pre- pandemic levels MANAGEMENT COMMENTS TOTAL REVENUE (AEDM) REPORTED NET PROFIT (AEDM) We delivered strong financial +9.6% +39.3% performance in Q3 2021 with revenue * 94.9 and profitability surpassing pre- 719.7 722.8 7
Slide 5: Q3 2021 Key financial highlights
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Q3 2021 Key nancial highlights Total revenue increased by Total gross profit margin Reported net profit is higher at +9.4% YoY to AED 684.8m driven increased by +7.1% YoY to 38.2%. AED 63.4m compared to 34.0m. by growth in core business. QoQ Tiles margin
Slide 6: Q3 2021 Key market highlights
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Q3 2021 Key market highlights UAE Saudi Arabia European recovery Continued improvement in operational Despite the imposition of a 12% QoQ performance was impacted by efficiencies led to improved gross profit customs duty, we were able to higher shipping f
Slide 7: 9M 2021 Key financial highlights
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS 9M 2021 Key nancial highlights Total revenue increased by Total gross profit margin Reported net profit is AED +29.4% YoY to AED 2.11bn. 9M increased by +610bps YoY an all- 221.0m after considering net one- 2021 revenue has surpassed the time high of 37.1
Slide 8: Net profit bridge
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Net pro t bridge MANAGEMENT COMMENTS Q3 2021 VS Q3 2020 (AEDM) Reported net profit for Q3 2021 increased by AED 29.4m YoY to AED 67.0 -21.1 63.4m driven by increased revenue, -16.8 63.4 higher GP margins. 34.0 Higher freight rates impacted us ~AED 25.0 mi
Slide 9: Quarterly revenue recovery by end market
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Quarterly revenue recovery by end market REVENUE BY END MARKET (AED M) QUARTERLY COMPARISON YEARLY COMPARISON Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 9M 2020 9M 2021 Amount Amount Amount Amount Amount YoY QoQ Amount Amount YoY Growth Growth Growth United Arab Emira
Slide 10: Revenue highlights
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Revenue highlights MANAGEMENT COMMENTS TOTAL REVENUE (AEDM) TILES REVENUE (AEDM) Q3 2021 revenue performance 2,108.3 1,462.5 improved across all our core 1,121.3 1,629.8 businesses. Total revenue is increased by +9.4% YoY to AED 684.8m while it is lower b
Slide 11: Gross profit margins
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Gross pro t margins TOTAL GROSS MARGINS (%) TILES GROSS MARGINS (%) MANAGEMENT COMMENTS 38.1 38.2 37.1 39.7 38.1 37.7 In Q3 2021 total gross profit margin increased by +710bps YoY to 38.2% 31.1 31.0 31.2 29.9 and QoQ increased by +10bps due to improved ef
Slide 12: Financial highlights
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Financial highlights QUARTERLY COMPARISON YEARLY COMPARISON Q3 20 Q2 21 Q3 21 9M 2020 9M 2021 Amount in AED M Amount Amount Amount YoY rowth QoQ Growth Amount Amount Growth Revenue 625.7 700.8 684.8 9.4% (2.3%) 1,629.8 2,108.3 29.4% Gross margin (%) 31.1%
Slide 13: Working capital cycle
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Working capital cycle MANAGEMENT COMMENTS WORKING CAPITAL CYCLE (AEDM) WORKING CAPITAL CYCLE (LTM DAYS) Inventory days increased from 212 days to 217 days QoQ due to lower revenue. 1,371 1,278 1,287 1.328 228 Trade receivable days decreased 193 361 370 39
Slide 14: 2021 Priorities
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS 2021 Priorities Protect Market Share Improve tableware performance Build Retail Concept Protect market share and Improve performance in light of Retail concept in focus markets profitability in the UAE, Bangladesh the ongoing impact in the Airlines throug
Slide 15: Appendix
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Appendix RAK Ceramics PJSC © 2021 All rights reserved 15
Slide 16: Tiles revenues by end market
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Tiles revenues by end market COMPARISON YEARLY COMPARISON Q3 20 Q2 21 Q3 21 9M 2020 9M 2021 Amount in AED M Amount Amount Amount Growth YoY Growth QoQ Amount Amount Growth United Arab Emirates 117.0 110.7 98.4 (15.9%) (11.2%) 348.1 336.5 -3.3% Kingdom of
Slide 17: Sanitaryware revenues by end market
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Sanitaryware revenues by end market COMPARISON YEARLY COMPARISON Q3 20 Q2 21 Q3 21 9M 2020 9M 2021 Amount in AED M Amount Amount Amount Growth YoY Growth QoQ Amount Amount Growth United Arab Emirates 30.4 32.9 33.3 9.5% 1.0% 97.1 101.6 4.6% Kingdom of Sau
Slide 18: EBITDA working
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS EBITDA working QUARTERLY COMPARISON YEARLY COMPARISON Q3 20 Q2 21 Q3 21 9M 2020 9M 2021 Amount in AED M Amount Amount Amount Amount Amount Net profit/(loss) after tax 34.0 94.9 63.4 44.5 221.0 Tax 2.7 2.2 3.7 4.4 11.5 Interest- net 17.8 14.0 13.7 52.2 43.
Slide 19: Like for Like net profit working
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Like for Like net pro t working QUARTERLY COMPARISON YEARLY COMPARISON Q3 20 Q2 21 Q3 21 9M 2020 9M 2021 Amount in AED M Amount Amount Amount Amount Amount Net profit /(loss) after tax 34.0 94.9 63.4 44.5 221.0 Add: Impairment on trade receivables 4.7 18.
Slide 20: Contacts
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS Contacts INVESTOR RELATIONS If you have any questions or require further information, please do not hesitate to contact our investor relations department. Investor Relations RAK Ceramics Al Jazeera Al Hamra PO Box 4714 Ras Al Khaimah United Arab Emirates
Slide 21: EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS RAK Ceramics PJSC © 2021 All
EARNINGS PRESENTATION - Q3 & 9M 2021 RESULTS RAK Ceramics PJSC © 2021 All rights reserved 21