Cairo, Egypt 16 November 2025
Oriental Weavers, the world's leading manufacturer of woven carpets and the best-known Egyptian global brand, today announced its 3Q 2025 financial results.
Key Highlights of 9M 2025
EGP 19.5B
Revenue
13% YoY
EGP 2.3B
Gross Profit
9% YoY
12.0% Margin
EGP 2.5B
EBITDA
11% YoY
13.0% Margin
EGP 1.7B
NAP
11% YoY
8.5% Margin
Key Highlights of 3Q 2025
EGP 6.9B
Revenue
7% YoY
EGP 0.8B
Gross Profit
9% YoY
12.0% Margin
EGP 0.9B
EBITDA
14% YoY
12.5% Margin
EGP 0.6B
NAP
0.1% YoY
8.9% Margin
Revenue up 7% YoY, mainly driven by higher ASP.
Gross profit was EGP 0.8B, down 9% YoY, with margin contracting 2.1 ppts YoY to 12.0%, driven by rising input costs that outpaced price increases.
EBITDA was EGP 0.9B, down 14% YoY, with margin contracting 3.1 ppts YoY to 12.5% due to lower gross profitability and a 20% increase in SG&A expenses.
Net attributable profit was EGP 0.6B, down 0.1% YoY, with margin contracting
0.7 ppts YoY to 8.9%, pressured by softer operating performance in addition to the weaker performance of EFCO (non-woven, with net profit down 59%) and Mac (tufted, turning into a net loss).
Commenting on the third quarter, CEO Hazem Al Zifzaf Stated:
In the third quarter, Oriental Weavers operated in a challenging global and domestic environment, with persistent cost pressures and muted demand. Despite these headwinds, we focused on leveraging our R&D capabilities to launch higher-margin products in profitable channels and destinations. Improving our U.S. operations remains a key priority, and we are making solid progress on the path to stronger performance, positioning us well to capture growth once demand rebounds.
Financial Highlights - 3Q 2025 COGS was EGP 6.1B, up 10% YoY, driven by 9% YoY increase in manufacturing overheads, led by a 24% increase in labor cost, and an 11% increase in utilities. Raw material costs increased 3% YoY despite lower polypropylene prices and sales volumes. SG&A was EGP 270M, up 20% YoY, mainly driven by higher labor salaries, bringing SG&A as a percentage of sales to 3.9% versus 3.5% in 3Q 2024. Export rebates amounted to EGP 167M, 7.6x the level of 3Q 2024. The amount includes EGP 100MCOGS
EGP B
+10%
+12%
5.5
5.4
6.1
3Q 2024 2Q 2025 3Q 2025
EGP M
+20%
+8%
226
250
270
SG&A
3Q 2024 2Q 2025 3Q 2025
Export Rebates
in cash backlog claims, EGP 27M in burden-to-government backlog claims, and EGP 40M from current export rebate programs. Total export rebates for 2025 are expected to reach approximately EGP 415M.
EGP M
22
+664%
104
+61%
167
1.8x. Total debt declined by 3% in 3Q 2025 to EGP
7.3B, while total cash rose 15% to EGP 7.0B.
Capex was up 111% YoY to EGP 324M, with Capex/sales rising from 2% to 5%.3Q 2024 2Q 2025 3Q 2025
Free Cash Flow
EGP M
+6%
1,428
1,517
9M 2024 9M 2025
EGP M
+111%
+68%
324
154
193
Capex
3Q 2024 2Q 2025 3Q 2025
Sales Highlights - 9M 2025 International SalesAfrica
6% 3%
GCC
4%
7%
EGP 13.2B45%
35%
Europe
(69% of Revenue, 67% of Volume) Woven volume up 8% YoY, together with higher ASP, drove a 24% YoY revenue increase. We are likely to have gained extra global market share in woven carpets. Key markets were Saudi Arabia, Ukraine, Jordan, Malysia, and Japan, along with Africa as a region.
Regional Mix
America
Tufted (Mac) volume down 6% YoY amid softer markets and operational challenges; ASP up 9% driven by devaluation, delivering a 3% YoY revenue increase. Non-Woven (EFCO) volume up 2% supported by increased exposure to international markets amid the imposed tariffs; ASP up 15% driven by devaluation, both delivering a 18% YoY revenue increase. Egypt Sales (31% of Revenue, 33% of Volume)
During the 9M period, market conditions remained soft, as constrained consumer purchasing power led to a shift toward lower-cost carpet alternatives and a weaker demand amid overall market contraction.
Woven (Mac) volume down 10% YoY; ASP up 16%, delivering a 4% YoY revenue increase. Tufted (EFCO) volume down 15% YoY; ASP up 11%limiting the revenue decline to 6%.
Non-Woven volume down 10% YoY due to operational and supply chain challenges, while ASP up 63%, delivering a 47% YoY revenue increase.Tufted
Tufted
Segment Mix
5%
20%
EGP 13.2B75%
Woven
Non-Woven
Channel Mix
E-Commerce
Depots 5%
10%
EGP 6.3B44%
41%
Showrooms
Hospitality
Segment Mix
9%
12%
EGP 6.3B79%
Woven
Non-Woven
Wholesale
Financials Income Statement Summary
EGP M | 3Q 24 | 2Q 25 | 3Q 25 | QoQ | YoY | 9M 24 | 9M 25 | YoY |
Revenue | 6,422 | 6,168 | 6,897 | 12% | 7% | 17,202 | 19,462 | 13% |
Gross Profit | 904 | 724 | 825 | 14% | -9% | 2,570 | 2,335 | -9% |
EBITDA | 1,000 | 800 | 860 | 8% | -14% | 2,851 | 2,534 | -11% |
Other revenue (incl. Rebates) | 22 | 117 | 160 | 36% | 631% | 550 | 333 | -39% |
Net Profit | 701 | 566 | 646 | 14% | -8% | 2,173 | 1,753 | -19% |
Margins: | ||||||||
GPM (%) | 14.1% | 11.7% | 12.0% | 0.2% | -2.1% | 14.9% | 12.0% | -2.9% |
EBITDA margin (%) | 10.6% | 7.7% | 8.0% | 0.3% | -2.5% | 11.1% | 8.1% | -3.1% |
NPM (%) | 10.9% | 9.2% | 9.4% | 0.2% | -1.5% | 12.6% | 9.1% | -3.6% |
EGP M | 9M 24 | 9M 25 | YoY |
Inventory | 10,789 | 10,581 | -2% |
Cash and Cash Equivalent | 3,069 | 5,367 | 75% |
Others | 8,586 | 7,556 | -12% |
Current Assets | 22,444 | 23,504 | 5% |
Fixed Assets | 8,449 | 7,752 | -8% |
Others | 2,003 | 2,489 | 24% |
Non-Current Assets | 10,452 | 10,241 | -2% |
Total Assets | 32,896 | 33,745 | 3% |
Bank Credit Accounts | 6,246 | 7,063 | 13% |
Others | 5,948 | 5,720 | -4% |
Current Liabilities | 12,194 | 12,783 | 5% |
Non-Current Liabilities | 774 | 587 | -24% |
Total Liabilities | 12,968 | 13,370 | 3% |
Total Shareholders' Equity | 19,928 | 20,375 | 2% |
Total Liabilities & Shareholders' Equity | 32,896 | 33,745 | 3% |
EGP M | 9M 24 | 9M 25 | YoY |
Net Cash Provided by Operating Activities | 1,987 | 2,234 | 12% |
Net Cash Used in Investing Activities | 296 | 235 | -20% |
Net Cash Used in Financing Activities | (1,462) | (1,012) | -31% |
Net Change in Cash & Cash Equivalents | 821 | 1,457 | 78% |
Beginning of Period Cash | 2,273 | 4,233 | 86% |
Translation Differences of Foreign Entities | 488 | (188) | -139% |
End of Period Cash | 3,582 | 5,502 | 54% |
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,
Shareholders' Structure
As of 30-9-2025
Foreign Retail, 2%
Local Retail 8%
Foreign Institutions 5%
Local Institutions 10%
characterized by a sharp focus on its customers and driven by marketing- and export-oriented strategies. (https://www.orientalweavers.com)
Forward-Looking Statement:
Olayan 3%
Ataqa 5%
Fitihi Group 11.8%
Khamis Family 54.1%
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.
For more information please contact:
Ahmed Abdelmeguid Head of Investor Relations
Email: IR@orientalweavers.com
Website: https://orientalweavers.com/investor-relations/