Revenues
EGP 6.4B
+27% YoY
Gross Profit
EGP 0.8B
-18% YoY
GPM 12.3%
-6.8 ppts
EBITDA
EGP 0.9B
-16% YoY
margin 13.6%
-7.0 ppts
Att. Profit*
EGP 0.5B
+20% YoY
margin 8.0%
-0.5 ppts
1Q 2025 Financial Highlights*Net Attributable Profit
International Sales reached EGP 4.2B in 1Q 2025 (+44% YoY), with ASP unchanged YoY in foreign currency but up 39% in EGP due to currency devaluation, while volumes increased by 3% YoY despite global industry challenges.
Egypt Sales reached EGP 2.2B (+3% YoY), with ASP increasing 27% compared to the 40% currency devaluation. However, volume in Egypt dropped 18% YoY, impacted by soft demand and a high comparative base from 1Q 2024, driven by trade stocking in anticipation of further devaluation.
Gross Profit down 18% YoY to reach EGP 0.8B, majorly influenced by the currency devaluation (65% of COGS are foreign currency denominated) in addition to 23% higher labor cost; lowering gross profit margin to 12.3%.
Operating Profit down 26% YoY to report EGP 0.5B due to lower gross profit and 6% higher SG&A (despite falling to 4% of sales compared to 5% of sales in 1Q 2024). The total depreciation accounted for EGP 0.3B, showing 63% YoY increase mainly due to currency devaluation (free zone entities).
Net Attributable Profit increased by 20% YoY with export rebates and cash management generated income offsetting operating profit shortfall. Margin, however, dropped to 8% (-0.5 ppts YoY).
EGP M | 1Q 24 | 4Q 24 | 1Q 25 | QoQ | YoY |
Revenue | 5,038 | 7,087 | 6,398 | -10% | +27% |
Gross Profit | 962 | 533 | 786 | +47% | -18% |
EBITDA | 1,035 | 663 | 871 | +31% | -16% |
Net Profit | 558 | 369 | 551 | +49% | -1% |
Net Attributable Profit | 427 | 329 | 513 | +56% | +20% |
Margins: | |||||
GPM (%) | 19% | 8% | 12% | +4.8 ppts | -6.8 ppts |
EBITDA margin (%) | 21% | 9% | 14% | +4.3 ppts | -6.9 ppts |
NPM (%) | 11% | 5% | 9% | +3.4 ppts | -2.5 ppts |
Net Attributable Profit margin | 8% | 5% | 8% | +3.4 ppts | -0.5 ptts |
EGP mn | FY 24 | 1Q 25 | YoY |
Current Assets | 23,982 | 24,207 | +1% |
Non-Current Assets | 10,922 | 10,804 | -1% |
Total Assets | 34,905 | 35,011 | 0% |
Current Liabilities | 13,269 | 13,299 | 0% |
Non-Current Liabilities | 594 | 609 | +2% |
Total Liabilities | 13,863 | 13,908 | 0% |
Total Shareholders' Equity | 21,041 | 21,103 | 0% |
Total Liabilities & Shareholders' Equity | 34,905 | 35,011 | 0% |
EGP mn | 1Q 24 | 1Q 25 | YoY |
Net Cash Provided by Operating Activities | 1,176 | 475 | -60% |
Net Cash Used in Investing Activities | 392 | (916) | -334% |
Net Cash Used in Financing Activities | (381) | 311 | -182% |
Net Change in Cash & Cash Equivalents | 1,187 | (130) | -111% |
Beginning of Period Cash | 2,273 | 4,233 | 86% |
Translation Differences of Foreign Entities | 458 | (16) | -104% |
End of Period Cash | 3,G18 | 4,087 | 4% |
For more information please contact:
Ahmed Abdelmeguid Head of Investor RelationsEmail: ahmed.aabdelmeguid@orientalweavers.com
Website: https://orientalweavers.com/investor-relations/
About Oriental Weavers:
Oriental Weavers is a global player in machine-woven rugs and carpets; the company is renowned for superior product design and quality, as well as technological innovation. Today, the company is one of the largest producers of machine-made woven rugs in the world. It is management's vision to build a state-of-the-art, internationally competitive carpet and home textile company, characterized by a sharp focus on its customers and driven by marketing- and export-oriented strategies. (https://www.orientalweavers.com)
Forward-Looking Statement:
Certain information contained in this document consists of forward-looking statements reflecting the current view of the Company with respect to future events, and is therefore subject to certain risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including worldwide economic trends, the economic and political climate of Egypt and the Middle East, and changes in business strategy as well as various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in such forward-looking statements. Recipients of this document are cautioned not to place any reliance on these forward-looking statements. The Company undertakes no obligation to republish revised forward-looking statements to reflect changed events or circumstances.