Rak Ceramics Pjsc · ADX:RAKCEC
Rak Ceramics Pjsc — Q1 2021 Earnings Presentation
19 slides from Rak Ceramics Pjsc's earnings presentation, May 2021
Slide 1: Earnings Presentation - Q1 2021 Results
EARNINGS PRESENTATION - Q1 2021 RESULTS EARNINGS PRESENTATION - Q1 2021 RESULTS MAY 2021 RAK Ceramics PJSC © 2021 All rights reserved
Slide 2: Attendees
EARNINGS PRESENTATION - Q1 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 experien
Slide 3: Disclaimer
EARNINGS PRESENTATION - Q1 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 presentation obl
Slide 4: Revenue and profitability surpass pre-pandemic levels to record high performance
EARNINGS PRESENTATION - Q1 2021 RESULTS Revenue and pro tability surpass pre- pandemic levels to record high performance. MANAGEMENT COMMENTS TOTAL REVENUE (AEDM) REPORTED NET PROFIT (AEDM) Total revenue for Q1 2021 is the +21.9% +107.3% highest it has been in 5 years, 65.6 * 62.7 722.8 increasing b
Slide 5: Q1 2021 Key financial highlights
EARNINGS PRESENTATION - Q1 2021 RESULTS Q1 2021 Key nancial highlights Total revenue increased by Total gross profit Reported net profit is higher at +21.9% YoY to AED 722.8m driven margin increased by +230bps AED 62.7m compared to AED by growth in all markets. QoQ YoY to 35.0%. Tiles margin 30.2m i
Slide 6: Q1 2021 Key market highlights
EARNINGS PRESENTATION - Q1 2021 RESULTS Q1 2021 Key market highlights UAE Production Optimisation Strong Growth in Saudi Arabia European Recovery Strong start to the year, despite Strategy to establish Saudi Arabia The business surpassed pre- the impact of COVID-19, the UAE as a key market continues
Slide 7: Q1 2021 Strong regional performance
EARNINGS PRESENTATION - Q1 2021 RESULTS Q1 2021 Strong regional performance REVENUE BY END MARKET (AED M) QUARTERLY COMPARISON Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Amount Amount Amount Amount Amount YoY Growth QoQ Growth United Arab Emirates 159.5 138.2 147.4 169.3 162.9 2.1% -3.8% Kingdom of Saudi Arabia
Slide 8: Revenue highlights
EARNINGS PRESENTATION - Q1 2021 RESULTS Revenue highlights MANAGEMENT COMMENTS TOTAL REVENUE (AEDM) TILES REVENUE (AEDM) Strong first quarter due to favorable 719.7 722.8 520.2 488.4 business momentum in all our core 592.8 business units excluding tableware. 394.0 Total revenue is increased by +21.9
Slide 9: Gross profit margins
EARNINGS PRESENTATION - Q1 2021 RESULTS Gross pro t margins MANAGEMENT COMMENTS TOTAL GROSS MARGINS (%) TILES GROSS MARGINS (%) 34.4 35.0 34.8 35.5 In Q1 2021, total gross margin 32.7 increased by +230ps YoY to 35.0% and 29.9 +60bps QoQ due to higher revenue, improved efficiencies and reduction in c
Slide 10: Financial highlights
EARNINGS PRESENTATION - Q1 2021 RESULTS Financial highlights COMPARISON Q 1 20 Q4 20 Q1 21 Amount in AED M Amount Amount Amount YoY Growth QoQ Growth Revenue 592.8 719.7 722.8 21.9% 0.4% Gross margin (%) 32.7% 34.4% 35.0% 2.3% 0.6% SG&A Fixed Expenses 117.8 103.8 104.8 13.0 (1.0) EBITDA 95.2 137.8 1
Slide 11: Working capital cycle
EARNINGS PRESENTATION - Q1 2021 RESULTS Working capital cycle MANAGEMENT COMMENTS WORKING CAPITAL CYCLE (AEDM) WORKING CAPITAL CYCLE (LTM DAYS) Inventory days decreased from 246 days to 225 days QoQ due to decreased inventories. 1,537 1,371 1,278 242 Trade receivable days also decreased 383 228 193
Slide 12: 2021 Priorities
EARNINGS PRESENTATION - Q1 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, the ongoing impact in the Airlines through franchising. B
Slide 13: Appendix
EARNINGS PRESENTATION - Q1 2021 RESULTS Appendix RAK Ceramics PJSC © 2021 All rights reserved 13
Slide 14: Tiles revenues by end market
EARNINGS PRESENTATION - Q1 2021 RESULTS Tiles revenues by end market COMPARISON Q 1 20 Q4 20 Q1 21 Amount in AED M Amount Amount Amount Growth YoY Growth QoQ United Arab Emirates 123.1 133.1 127.4 3.5% (4.3%) Kingdom of Saudi Arabia 86.1 125.2 158.3 83.9% 26.5% Middle East (Ex. UAE and KSA) 18.5 22.
Slide 15: Sanitaryware revenues by end market
EARNINGS PRESENTATION - Q1 2021 RESULTS Sanitaryware revenues by end market COMPARISON Q 1 20 Q4 20 Q1 21 Amount in AED M Amount Amount Amount Growth YoY Growth QoQ United Arab Emirates 36.5 36.2 35.5 (2.9%) (2.0%) Kingdom of Saudi Arabia 5.4 5.7 5.0 (7.9%) (12.3%) Middle East (Ex. UAE and KSA) 2.4
Slide 16: EBITDA working
EARNINGS PRESENTATION - Q1 2021 RESULTS EBITDA working QUARTERLY COMPARISON Q1 20 Q4 20 Q1 21 Amount in AED M Amount Amount Amount Net profit/(loss) after tax 30.2 (170.7) 62.7 Tax 3.2 10.2 5.6 Interest- net 16.6 18.5 15.3 Depreciation & amortisations 44.8 43.3 42.1 Depreciation on hyper inflated as
Slide 17: Like for Like net profit working
EARNINGS PRESENTATION - Q1 2021 RESULTS Like for Like net pro t working COMPARISON Q1 20 Q4 20 Q1 21 Amount in AED M Amount Amount Amount Net profit /(loss) after tax 30.2 (170.7) 62.7 Add: Impairment on trade receivables 10.0 6.1 5.7 Add: Hyper-inflation impact 0.0 1.9 0.8 Impairment loss on real e
Slide 18: Contacts
EARNINGS PRESENTATION - Q1 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 T: +9
Slide 19: EARNINGS PRESENTATION - Q1 2021 RESULTS RAK Ceramics PJSC © 2021 All rights reserved
EARNINGS PRESENTATION - Q1 2021 RESULTS RAK Ceramics PJSC © 2021 All rights reserved 19