Rak Ceramics Pjsc · ADX:RAKCEC
Rak Ceramics Pjsc — RAK Ceramics PSC — Q1 2015 Earnings Presentation
12 slides from Rak Ceramics Pjsc's earnings presentation, 2015
Slide 1: RAK Ceramics PSC 2015 1 Quarter Financial Results
RAK Ceramics PSC 2015 1 Quarter Financial Results Company Confidential
Slide 2: 2015 1st Quarter In Review – Key Highlights
2015 1st Quarter In Review – Key Highlights Reported revenue is higher by AED 3.3 mn to AED 744.1 mn in Q1 2015 compared to Q1 2014 of AED 740.8 mn. This revenue is excluding revenue of AED 29.9 mn (YoY AED 51.9 mn) for discontinued operations (Sudan and RAK Pharma) Core revenue is lower by 5.8%
Slide 3: Executive Summary – Financial Performance
Executive Summary – Financial Performance Overall revenue in Q1 2015 decreased by 2.4% to AED 774.1 mn. Core revenue decreased by 5.8% to AED 656.2 mn and Non-Core revenue increased by 22.8% to AED 117.8 mn. Tiles revenues decreased by 13% to AED 510.2 mn. SW revenue increased by 0.7% to AED 110.9 m
Slide 4: Core Revenues Breakdowns
Core Revenues Breakdowns On account of lower revenues in European countries due to currency depreciation, a refocused sales and distribution strategy in India and unusually high Q1/14 sales in Bangladesh from inventory liquidation, revenues from tiles fell in the quarter by 13% YoY to AED510.2 milli
Slide 5: Gross Profits Snapshot
Gross Profits Snapshot Overall gross margin in YTD Mar 2015 is at par with YTD Mar-14. Core margins is increased from 29.3% to 30.2% while Non Core margins have decreased from 25.1% to 22.1%. Overall tiles margin is 26.5% and SW margin is at same level YoY at 43.1% Porcelain is consolidated from Q4
Slide 6: Summary Income statement
Summary Income statement Reported net profit of YTD increased by 2.8% to AED 60.4 mn with margin increase from 7.4% to 7.8.0%. Adjusted net profit is AED 75.8 mn with margin increase from 7.8% to 9.8% % on account of gain sales of stake in RAK Pharma, Moshfly and Laticrete. EBITDA margin is lower to
Slide 7: Balance Sheet Highlights
Balance Sheet Highlights Net debt position decreased by AED 44.5mn to AED 1.36 bn equivalent to 2.6x EBITDA due to better working capital management in Q1 2015. Total CAPEX for Q1 2015 amounted to AED 49.4mn. Working Capital (AED mn/Days) YTD Mar Dec 14 Days 15 Days Trade Receivables ( Net of Provis
Slide 8: Financial Statements
FINANCIAL STATEMENTS Company Confidential 8
Slide 9: Consolidated Net Income
Consolidated Net Income AED million YTD Mar-14 YTD Mar-15 Revenue 740.8 744.1 Cost of sales (527.6) (529.0) Gross profit 213.2 215.1 Administrative and general expenses (72.5) (90.8)* Selling and distribution expenses (86.2) (84.7) Other income 15.3 16.8 Results from operating activities 69.8 56.4 F
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet AED million YTD Mar YTD Mar Assets Dec 14 2015 Equity and liabilities Dec 14 2015 Non-current assets Equity Property, plant and equipment 1,180.6 1,166.9 Share capital 817.5 817.5 Capital work-in-progress 73.3 98.3 Reserves 1,990.8 2064.4 Equity 2,808.3 2,881.9 Goodwill 50
Slide 11: Consolidated Cash Flow
Consolidated Cash Flow Mar-14 Mar-15 Mar-14 Mar-15 AED million Profit for the period before tax 65.2 67.0 Cash flow from Investing activities Acquisition of property, plant and equipment and capital work in Adjustments for: - progress 19.5 (49.4) Share of profit in equity accounted investees 8.5 (5.
Slide 12: Disclaimer
DISCLAIMER This information contained in the enclosed presentation summarises 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