Oriental Weavers Carpet · EGX:ORWE
Oriental Weavers Carpet — Q1 2024 Earnings Presentation
14 slides from Oriental Weavers Carpet's earnings presentation, May 28, 2024
Slide 1: Oriental Weavers Carpet 1Q 2024 Results
Oriental Weavers Carpet 1Q 2024 Results 28th May 2024 One of the world’s leading carpet manufacturers
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as “according to estimates”, “aims”, “anticipates”, “assumes”, “belie
Slide 3: Table of Contents
TABLE OF CONTENTS 1Q24 Operating Performance Highlights 4 1Q24 Financial Overview 9
Slide 4: Operating Performance Highlights
Operating Performance Highlights
Slide 5: 1Q 24 Operating Performance
1Q 24 Operating Performance Total Revenue (EGP m) Total Revenue + 22% y-o-y 17,659 • International Markets + 12% y-o-y • Egypt + 38% y-o-y 13,256 11,403 EBITDA EGP 1,035 million + 67% y-o-y EBITDA Margin 21% y-o-y 9,485 5,038 4,142 Net Income EGP 558 million Net Attributable Income EGP 427 million N
Slide 6: Diversified Footprint Provides a Unique Platform to Lead & Grow
Diversified Footprint Provides a Unique Platform to Lead & Grow Europe Sales: EGP 776m ▲ 11% Sales Contribution : 15% Asia Sales: EGP 117m Egypt: Sales: EGP 2.1bn ▲31% ▲38% y-o-y Sales contribution: 2% Americas Sales : EGP 1.6bn Sales Contribution: 42% ▲25% y-o-y Sales contribution: 32% GCC Sales: E
Slide 7: Key International Markets Performance
I. Key International Markets Performance Share in 1Q24 Revenues ( EGP 000’s) Remarks Key Accounts international Revenues - OW actively participates in various U.S. Furniture 5,610 and Rug fairs, including High Point in North Americas 4,316 4,307 Carolina, World Market in Las Vegas, and New York 32%
Slide 8: Egypt Performance By Segment
II. Egypt Performance By Segment (42% of revenue) Woven + 27% YoY Revenue Breakdown | 1Q 2023/2024 Revenues from the woven segment grew by 27% YoY to EGP 3.2bn, it contributed the majority to overall revenue growth. The growth was attributed to an increase in ASP and volume growth by 9%. 5% 1% 5% 2%
Slide 9: Financial Overview
Financial Overview
Slide 10: Income Statement Highlights
1Q24 Financial Performance Income Statement Highlights Revenues (EGP m) Volume (000 m2) Gross profit (EGP m/% margin) 16.1% 9.5% 14.4% 19.1% 130,810 17,658 121,808 112,688 38,213 13,255 44,445 11,404 6,435 43,110 4,903 3,657 5,037 92,597 2,550 29,079 11,223 77,363 69,578 1,834 7,747 8,352 2,104 13,1
Slide 11: Income Statement Highlights
1Q24 Financial Performance Income Statement Highlights SG&A (EGP m/% revenues) EBITDA EGP (m/% margin) Net Income (EGP m/% margin) Variable Costs: c. 15%/Fixed Costs: c. 85% 15.5% 20.5% 10.7% 16.9% 11.1% 4.6% 4.6% 11.1% 4.5% 4.1% 10.6% 7.1% 2,729 1,892 722 609 1,932 1,210 519 1,471 944 1,035 230 558
Slide 12: Cost of Sales Analysis
1Q24 Financial Performance Cost of Sales Analysis Cost of Sales Breakdown | 1Q24 Raw Materials 13% Polyproplyene/Nylon 6% Selling Expenses 4% 11% 8% Backing Wages 1Q24 Raw 53% 27% EGP 4.1bn Materials Depreciation Finishing Material 12% Others 20% Wool Polypropylene Prices | USD/ton
Slide 13: Balance Sheet & Other Highlights
1Q24 Financial Performance Balance Sheet & Other Highlights Net Debt (EGP mn) Cash Conversion Cycle (Days) Operating Cash flow (EGP mn) 33.0% 192 days 383 1,176 182 days 178 1,006 33.0% 154 121 67 57 53 38 31 Dec 23 31 Mar 24 FY23 24-Mar 31 March 23 31 March 24 Net Debt Debt to Equity Receivabes DSO
Slide 14: Balance Sheet & Other Highlights
1Q24 Financial Performance Balance Sheet & Other Highlights Debt Cash EGP NetCash Debt/EBITDA 3% Euro 18% 1.39 Dollar 41% EGP 55% 0.48 Dollar 0.37 Euro 79% 4% 0.04 FY21 FY22 FY23 1Q24 Total Debt recorded EGP 6.4 bn in March-24 Cash, T-bills and Eurobonds recorded EGP compared to EGP 4.6 bn in Dec-23
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