Rak Ceramics Pjsc · ADX:RAKCEC
Rak Ceramics Pjsc — FY2024 Earnings Presentation
26 slides from Rak Ceramics Pjsc's earnings presentation, February 2025
Slide 1: Earnings Presentation – Q4 & FY 2024 Results
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS February 2025 RAK Ceramics PJSC © 2024 All rights reserved
Slide 2: Agenda
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Agenda 01 | Executive Summary 02 | Business Highlights 03 | Q4 & FY 2024 Financial Results Update 04 | Trading Update 05 | Closing Remarks 06 | Appendix RAK Ceramics PJSC © 2024 All rights reserved 2
Slide 3: Speakers
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Speakers Abdallah Massaad is Group CEO Pramod Kumar Chand is Group of RAK Ceramics and has more CFO of RAK Ceramics. Mr. Chand than 26 years experience in has wide experience in dealing ceramics manufacturing, sales with corporate finance matters manageme
Slide 4: Disclaimer
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Disclaimer This information contained in the enclosed presentation summarizes preliminary Accordingly all potential recipients are expected to conduct their own due diligence and introductory information on RAK Ceramics PJSC (the Company). This on the inf
Slide 5: Business Highlights
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Business Highlights Speaker: Abdallah Massaad Group CEO RAK Ceramics PJSC © 2024 All rights reserved 5
Slide 6: Global Business Presence
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Global Business Presence Where we sell What we sell (Revenue Mix) Europe Rest of World 22% 8% Middle East 6% Tiles Sanitaryware 57% 15% KSA BANGLADESH 7% Tableware Faucets Others 9% India 12% 11% 14% 3% UAE 36% Capacity 118MN 5MN 36MN 2.6MN Square metres
Slide 7: Q4 2024 Business Performance Highlight
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Q4 2024 Business Performance Highlight Tiles & Sanitaryware Market Highlights Segment Highlights UAE: Registered a strong 9.6% YoY revenue growth, driven by the Tiles revenue recorded strong Q4 growth in both volumes and booming real estate sector and
Slide 8: Q4 2024 Key Challenges
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Q4 2024 Key Challenges Core Markets Key Challenges Our Actions UAE Import of cheaper products has increased on account • Partnership with reputed developers in the UAE to of free trade agreements signed between UAE and other provide Tiles and Sanitaryware
Slide 9: Q4 2024 Key Strategic Updates
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Q4 2024 Key Strategic Updates Advancements on Expansionary Front. Expansion projects • UAE: We continue to invest in upgrading our Tiles production facilities to allow us to produce differentiated and large format Tiles. • We are also investing in our UAE
Slide 10: Q4 & FY 2024 Financial Performance Update
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Q4 & FY 2024 Financial Performance Update Speaker: PK Chand Group CFO RAK Ceramics PJSC © 2024 All rights reserved 10
Slide 11: Q4 2024 Financial Performance Snapshot
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Q4 2024 Financial Performance Snapshot Revenue Gross Margin EBITDA AED 870.9 MN 37.2% AED 158.0 M 0.5% YoY 163 bps YoY 4.7% YoY 8.5% QoQ Net Profit after tax Net Profit After Minority Net Debt * AED 64.2 M AED 58.7 M AED 1.39 BN 21.5% YoY 17.3% YoY 174.2M
Slide 12: FY 2024 Financial Performance Snapshot
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS FY 2024 Financial Performance Snapshot Revenue Gross Margin EBITDA AED 3.23 BN 39.3% AED 592.2 M 6.5%YoY 143 bps YoY 8.5% YoY Net Profit after tax Net Profit After Minority Net Debt * AED 234.1 M AED221.1M AED 1.39 BN 27.0% YoY 24.0% YoY 26.2M *Impact of
Slide 13: Revenue Highlights Q4/FY 2024
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Revenue Highlights Q4/FY 2024 MANAGEMENT COMMENTS • Q4 2024 revenue at AED 870.9m, increased by 0.5% year-on-year FY Quarterly Comparison Yearly Comparison 2024 is decreased by -6.5% at AED Q4 23 Q3 24 Q4 24 2023 2024 3.23bn, reflecting global geopolitica
Slide 14: Gross Profit Margin
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Gross Profit Margin TOTAL GROSS MARGINS (%) TILES GROSS MARGINS (%) SANITARYWARE GROSS MARGINS (%) 41.2% 37.2% 37.9% 39.3% 42.5% 41.6% 38.4% 40.8% 34.0% 33.8% 34.2% 31.1% 35.6% 36.4% 27.9% Q4 23 Q3 24 Q4 24 2023 2024 Q4 23 Q3 24 Q4 24 2023 2024 Q4 23 Q3 2
Slide 15: Profitability Bridge
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Profitability Bridge Q4 2023 vs Q4 2024 Profit Bridge (AEDM) -7.1% 14.1 1.9 1.7 5.3 6.7 (15.2) 88.4 (20.9) (11.6) 82.0 (6.3) 64.2 Profit before tax Lower Gross Higher GP Higher variable Lower SG&A - Lower Finance Lower Other Others Profit before UAE Corpo
Slide 16: Balance Sheet Highlights
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Balance Sheet Highlights MANAGEMENT COMMENTS WORKING CAPITAL (AEDM) WORKING CAPITAL (DAYS) • Overall working capital cycle decreased 1,482 1,383 1,554 1,537 1,438 197 196 181 from 196 days in Q3 2024 to 181 days in Q4 172 161 2024. Also, in absolute terms
Slide 17: Share Price Update
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Share Price Update Speaker: PK Chand Group CFO RAK Ceramics PJSC © 2024 All rights reserved 17
Slide 18: Dividend Update
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Dividend Update MANAGEMENT COMMENTS HISTORICAL ANNUAL DIVIDEND PAID (%) In-line with its dividend policy commitment, the Board proposed to distribute semi-annual cash dividend of 10 fils per share for second half of 2024 (AED 99.4million). 30.0% This foll
Slide 19: RAK Ceramics Share Price Movement
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS RAK Ceramics Share Price Movement AED CURRENT VALUATION (AED M) WAP 2.52 RAK CERAMICS (RAKCEC) SHARE PRICE PERFORMANCE (AED) 11/2/2025 31/12/2023 52 week high 2.90 Amount Amount 52 week low 2.24 Share price 2.56 2.90 As of 11th February 2025 Number of sha
Slide 20: Closing Remarks
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Closing Remarks Speaker: Abdallah Massaad Group CEO RAK Ceramics PJSC © 2024 All rights reserved 20
Slide 21: 2025 Priorities
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS 2025 Priorities Market share growth and KLUDI Transformation Retail Expansion & Brand Business, Operations & preservation awareness Risk management Maintain healthy competition Continue implementing Focus on strengthening retail Optimize operations enhanc
Slide 22: Q&A
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Q&A Q&A RAK Ceramics PJSC © 2024 All rights reserved 22
Slide 23: Appendix
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS APPENDIX RAK Ceramics PJSC © 2024 All rights reserved 23
Slide 24: Financial Highlights
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Financial Highlights Quarterly comparison Yearly Comparison Q4 23 Q3 24 Q4 24 2023 2024 QoQ Amount in AED M Amount Amount Amount YoY Growth Amount Amount YoY Growth Growth Revenue 866.4 802.5 870.9 0.5% 8.5% 3,457.8 3,232.0 -6.5% Gross margin (%) 35.6% 41
Slide 25: EBITDA Working
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS EBITDA Working Quarterly comparison Yearly comparison Q4 23 Q3 24 Q4 24 2023 2024 Amount in AED M Amount Amount Amount Amount Amount Net profit/(loss) after tax 81.8 55.9 64.2 320.9 234.1 Tax 6.6 4.9 17.8 24.6 42.6 Interest- net 27.5 29.7 26.1 106.8 110.8
Slide 26: Thank You
EARNINGS PRESENTATION – Q4 & FY 2024 RESULTS Thank You CONTACT US If you have any questions or require further information, please do not hesitate to contact our investor relations department. Investor Relations RAK Ceramics PJSC P.O. Box: 4714, Ras Al Khaimah, United Arab Emirates E. ir@rakceramics