Rak Ceramics Pjsc · ADX:RAKCEC
Rak Ceramics Pjsc — RAK Ceramics PSC — Q2 2015 Earnings Presentation
12 slides from Rak Ceramics Pjsc's earnings presentation, 2015
Slide 1: RAK Ceramics PSC 2015 2nd Quarter Financial Results
RAK Ceramics PSC 2015 2nd Quarter Financial Results Company Confidential
Slide 2: 2015 2nd Quarter In Review – Key Highlights
2015 2nd Quarter In Review – Key Highlights Reported revenue decreased by 1.1% to AED 803.8 mn in Q2 2015, 0.1% decrease to AED 1,548.1 mn in H1 2015 . Restructuring in non-core activities resulted in an increase in revenues by 11.0% to AED 137.3mn, 20.9% increase in H1 2015 to AED 255.2mn and e
Slide 3: Quarterly Revenues & Profit Snapshot
Quarterly Revenues & Profit Snapshot Reported Revenue: Core & Non-Core (AED mn) Total Core Revenue: Tiles, SW & Tableware (AED mn) -0.1% -3.5% 1,550.4 1,548.1 1,339.2 1,292.8 -1.1% -3.3% 812.8 803.8 1,292.8 Core 689.1 666.6 1,114.1 994.6 1,339.2 689.1 666.6 574.1 514.3 227.1 255.2 Non Core 115.0 0.0
Slide 4: Core Revenues Breakdowns
Core Revenues Breakdowns Tile Revenues: By Production location Tile Revenues: By End Market YoY YoY YoY YoY (AED mn) Q2 14 Q2 15 Change H1 2014 H1 2015 Change (AED mn) Q2 14 Q2 15 Change H1 2014 H1 2015 Change UAE 419.9 383.0 -8.8% 801.4 734.2 -8.4% UAE 111.2 121.8 9.5% 220.9 242.1 9.6% India 106.0
Slide 5: Gross Margins Snapshot
Gross Margins Snapshot Overall tiles gross margin is increased by 30bps in Q2 2015 due to procurement cost savings (AED17.5mn) more than offsetting higher natural gas costs. Weaker Sanitary Ware margins in the UAE are as a result of increase in cost of production & reduction in sale price Total Gros
Slide 6: Summary Income Statement
Summary Income Statement Income Statement (AED mn) EBITDA Calculation (AED mn) Q2 14 Q2 15 H1 14 H1 15 Tiles Revenue 519.5 528.3 1,114.1 1,049.9 SW Revenue 115.6 117.2 226.3 228.6 Table Ware Revenue - 36.2 - 71.2 Q214 Q215 H1 14 H1 15 Total Core Gross Revenue 758.3 681.7 1,463.6 1,349.8 Net Profit 9
Slide 7: Balance Sheet Highlights
Balance Sheet Highlights Net debt increased from AED 1.37bn in Q1 2015 to AED 1.60bn in Q2 2015 mainly due to the cash dividend payment. Cost of debt decreased as we converted USD 135mn loan from ST to LT. Total CAPEX spend YTD was AED 99.3mn out of ~ AED 300 mn total CAPEX expected this year Workin
Slide 8: Financial Statements
FINANCIAL STATEMENTS Company Confidential 8
Slide 9: Consolidated Net Income
Consolidated Net Income AED million Q2'14 Q2 '15 YTD Jun 14 YTD June 15 Revenue 812.8 803.8 1,550.4 1,548.1 Cost of sales (613.6) (581.5) (1,138.4) (1,110.3) Gross profit 199.9 222.3 412.0 437.9 Administrative and general expenses (86.3) (68.4) (158.1) (158.0) Selling and distribution expenses (82.1
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet AED million Assets Dec 14 June 2015 Equity and liabilities Dec 14 June 2015 Non-current assets Equity Property, plant and equipment 1,180.6 1,166.9 Share capital 817.5 817.5 Reserves 1,990.8 1,848.9 Capital work-in-progress 73.3 98.2 Equity 2,808.3 2,666.4 Goodwill 50.4 50
Slide 11: Consolidated Cash Flow
Consolidated Cash Flow June-2015 June-2014 June-2015 June-2014 AED mn AED mn AED mn AED mn Investing activities Profit for the period before tax 159.2 164.8 Acquisition of property, plant and equipment and capital work in progress (99.3) (118.4) Change in bank deposits (16.0) 5.8 Adjustments for: Ad
Slide 12: Disclaimer
DISCLAIMER This information contained in the enclosed presentation summarizes preliminary and introductory information on RAK Ceramics PSC (the Company). This presentation has been prepared for information purposes only and is not and does not form part of or constitute any prospectus, offering memo