Oriental Weavers CarpetEGX: ORWE

FY-2025-Earnings-Release

· MarketScreener
‌4Q 2025 Earnings Release

Cairo, Egypt 26 February 2026

Oriental Weavers (Ticker: ORWE.CA), the world's leading manufacturer of woven carpets, today announced its FY 2025 results.

Key Highlights of FY 2025

EGP 26.6B

Revenue

10% YoY

EGP 3.4B

Gross Profit

8% YoY

12.6% Margin

EGP 3.6B

EBITDA

2% YoY

13.4% Margin

EGP 2.3B

Adj. NAP*

5.4% YoY

8.7% Margin



Key Highlights of 4Q 2025

EGP 7.2B

Revenue

1.0% YoY

EGP 1.0B

Gross Profit

60% YoY

14.2% Margin

EGP 1.0B

EBITDA

57% YoY

14.5% Margin

EGP 0.6B

Adj. NAP*

85% YoY

8.5% Margin



*Net attributable profit adjusted for EGP 0.2Bn one-off provision in FY 2025

  • Revenue sustained 1% YoY growth, reaching the highest quarterly level in 2025, despite pressure on ASP from older inventory liquidation.

  • Gross profit up by 60% YoY, to reach EGP 1.0B with GPM expanding 665bps to 14.2% mainly driven by lower polypropylene price and comparison versus lower base in 2024 due to inventory write-down.

  • EBITDA was EGP 1.0B, up 57% YoY, with margin expanding 518bps YoY to 14.5%.

  • Net Profit reached EGP 0.5B, up 36% YoY, with margin expanding by 180bps to 7.0%, while net attributable profit increased by 61% YoY margin reached 7.4% expanded by 277bps supported by a 174% increase in export rebates.

  • Adjusted net attributable profit

    • Adjusting for one-off provision NAP grew by 85% YoY with 384bps margin expansion.

    • Adjusting for rebates NAP grew by 70% YoY with 277 bps margin expansion.

Commenting on the fourth quarter, CEO Hazem Al Zifzaf Stated:

While global demand weakened due to a slowdown in the home improvement/building sector and constrained discretionary spending in Egypt, we successfully expanded our global market share by 100bps and delivered both top- and bottom-line growth. We are leveraging our RsD capabilities to launch higher margin products in profitable channels s destinations while continuing to focus on operational efficiency across manufacturing s supply chain.

‌Financial Highlights - 4Q 2025

COGS came in at EGP 6.1B, down 6.2% YoY, mainly due to a 12% YoY decline in raw material costs driven by lower polypropylene prices, despite an 18% YoY increase in labor costs. Manufacturing overheads increased slightly by 4% YoY, a significant improvement versus the 48% YoY surge in 4Q 2024.

GsA was EGP 208m, up 27% YoY, primarily due to higher salaries.

Export Rebates totaled EGP 121m; EGP 48m from current program and EGP 73m backlog claims in form of government fees offset.

Capex down 1% YoY to EGP 230Mn, with capex/sales improving from 5% to 3%.

Free Cash Flow was EGP 700m versus 4Q 2024 driven by improvement in working capital management and higher rebates.

Net debt down to EGP 0.6B versus EGP 1.0B in 3Q 2025; Net debt/EBITDA improved to 0.2x versus 0.4x in 2024.

COGS EGP B

-6.2%

+1.2%

6.5

6.1

6.1

4Q 2024 3Q 2025 4Q 2025

GsA EGP m

+27%

+8.6%

164

1G1

208

4Q 2024 3Q 2025 4Q 2025

Export Rebates EGP m

+175%

-24%

160

121

44

4Q 2024 3Q 2025 4Q 2025

Capex EGP m

1%

228

230

-34%

351

4Q 2024 3Q 2025 4Q 2025

Free Cash Flow EGP m

Export Rebates

-24%

17%

17%

700

G60



3Q 2025 4Q 2025

‌Financial Highlights - FY 2025

COGS came in at EGP 23B, up 10% YoY, driven by EGP devaluation, increase in labor costs offset by the decline in polypropylene prices.

GsA was EGP 752m, up 16% YoY, primarily due to higher salaries.

Export Rebates totaled EGP 454m, EGP 254m from current program and EGP 200m backlog claims, remaining balance is EGP 180m.

Capex up 24% YoY to EGP 674m to increase processing capacity and operation efficiency, increasing capex/sales from 3% to 4%.

Free Cash Flow was EGP 2.2B, up 67% YoY driven by improvement in working capital management. Excluding rebates FCF grew by 233% YoY to EGP 1.8B.

Net debt down to EGP 0.6B versus EGP 1.8B FY 2024; however, Net debt/EBITDA improved to 0.2x versus 0.5x in 2024.

Interest Income was EGP 817m almost inline with FY 2024 level.

COGS EGP B

15

+40%

+10%

21

6.1

FY 2023 FY 2024 FY 2025

GsA EGP m

+25%

+16%

513

630

287

FY 2023 FY 2024 FY 2025

Export Rebates EGP m

+81%

-24%

5G4

32G

454

FY 2023 FY 2024 FY 2025

Capex EGP m

453

74%

24%

786

G74

FY 2023 FY 2024 FY 2025

Free Cash Flow EGP m

Export Rebates

2.2

1.1

+67%



FY 2024 FY 2025

‌Sales Highlights - FY 2025 International Sales

5%

Tufted

1G%

EGP

17.GBn

76%

Woven



(67% of Revenue, 63% of Volume)

Woven (OWE, OWA) volume was up 5% YoY, while ASP was up 12% YoY. Overall, revenue increased by 17% YoY. Despite the market challenges, we gained extra 100bps global market share. Highest performance markets were Saudi Arabia, Ukraine, Jordan, Malaysia, and Japan, along with Africa offsetting western market softness.

Africa

GCC

4%

7%

6% 3%

EGP 45%

17.GBn

35%

Europe



Tufted (Mac) volume down 6% YoY due to operational challenges; ASP up 5% driven by devaluation, resulting in a 5% YoY revenue decrease.

Non-Woven (EFCO) volume up 2%, ASP up 6% driven by devaluation, both delivering 8% YoY revenue increase.

Segment Mix



Non-Woven

Regional Mix





Asia Hospitality

America



Egypt Sales (33% of Revenue, 37% of Volume)

Woven (OWE) volume down 6% YoY; ASP up 13%, delivering a 6% YoY revenue increase. Results reflect discretionary spending pressure and increasing competition which impacted wholesale volumes the most. Showrooms targeted higher income segments performed much better. We launched the world's first phygital store in Mivida, Egypt adding a new retail concept.

Tufted (Mac) volume down 12% YoY; ASP up 12% limiting the revenue decline to 2%.

Segment Mix



G%

Tufted

12%

EGP

8.7Bn

7G%

Woven



Non-Woven





Channel Mix





E-Commerce Hospitality Depots

Non-Woven (EFCO) volume up 4% YoY, while ASP up 5%, delivering a 6% YoY revenue increase.



Showrooms

10%

42%

4%

EGP 8.7Bn

43%

Wholesale



‌Financials - FY 2025 Income Statement Summary

EGP m

4Q 24

3Q 25

4Q 25

QoQ

YoY

FY 24

FY 25

YoY

Revenue

7,087

6,867

7,161

4%

1.5%

24,286

26,623

6.6%

Gross Profit

533

825

1,015

23%

60%

3,103

3,350

8.0%

EBITDA

663

860

1,041

22%

58%

3,514

3,576

1.7%

Export Rebates

44

160

121

-26%

156%

564

454

-24%

Net Profit

366

646

501

-22%

36%

2,542

2,263

-11%

Adjusted Net Profit

Margins:

366

722

632

-12%

71%

2,542

2,471

-2.8%

GPM (%)

7.5%

12.0%

14.2%

16%

88%

12.8%

12.6%

-1.5%

EBITDA margin (%)

6.4%

12.5%

14.5%

17%

55%

14.5%

13.4%

-7.2%

NPM (%)

5.2%

6.4%

7.0%

-25%

34%

10.5%

8.5%

-16%

Adjusted NPM (%)

5.2%

10.5%

8.8%

-16%

70%

10.5%

6.3%

-11%

Balance Sheet Summary

EGP m

FY 24

FY 25

YoY

Inventory

10,786

10,581

-2%

Cash and Cash Equivalent

3,066

5,367

75%

Receivables

4,663

4,535

-6%

Others

3,563

3,021

-16%

Current Assets

22,444

23,504

5%

Fixed Assets

8,446

7,752

-8%

Others

2,003

2,486

24%

Non-Current Assets

10,452

10,241

-2%

Total Assets

32,8G6

33,745

3%

Bank Facilities

6,246

7,063

13%

Payables

3,430

2,763

-16%

Others

2,518

2,627

16%

Current Liabilities

12,164

12,783

5%

Non-Current Liabilities

774

587

-24%

Total Liabilities

12,G68

13,370

3%

Total Shareholders' Equity

1G,G28

20,375

2%

Total Liabilities s Shareholders' Equity

32,8G6

33,745

3%

Cash Flow Summary

EGP m

FY 24

FY 25

YoY

Net Cash Provided by Operating Activities

1,610

3,161

67%

Net Cash Used in Investing Activities

766

(466)

-161%

Net Cash Used in Financing Activities

(1,276)

(1,610)

50%

Net Change in Cash s Cash Equivalents

1,400

813

42%

Beginning of Period Cash

2,273

4,233

86%

Translation Differences of Foreign Entities

556

(201)

-136%

End of Period Cash

4,233

4,844

14%

‌About Oriental Weavers:

Oriental Weavers is a global player in machine-

Shareholders' Structure - YoY

As of 31-12-2025

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.

Forward-Looking Statement:

Local Retail 8%

Foreign Institutions 4%

Local Institutions 11%

Olayan 3%

Ataqa 5%

Fitihi 11.8%

Foreign Retail, 2%



Khamis Family 54.1%

FKY 24.6%

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:

Hatem Gamal

Investment Analyst s Investor Relations Officer

Email: IR@orientalweavers.com

Website: https://orientalweavers.com/investor-relations/

in

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