Abu Dhabi – Mubasher: RAK Ceramics registered AED 48.87 million in the first quarter (Q1) of 2025, lower by 22.30% than AED 62.90 million in Q1-24.
The company generated revenues amounting to AED 776.53 million as of 31 March 2025, down 0.70% year-on-year (YoY) from AED 781.62 million, according to the financial results.
Basic and diluted earnings per share (EPS) declined to AED 0.047 in Q1-25 from AED 0.058 a year earlier.
Abdallah Massaad, Group CEO of RAK Ceramics, said: "In Q1-25, we faced a highly complex macroeconomic landscape, characterized by geopolitical uncertainties, inflationary pressures, and shifting consumer demand.”
“Despite a minor revenue decline of 0.70%, our gross profit margins improved, on the back of rolling out improvements in operational efficiency,” Massaad elaborated.
He added: “The UAE continues to be our strongest market with growth driven by robust real estate activity, while our KSA market continues to show encouraging signs, aided by recent customs duty relief measures.”
“We have made strategic progress in manufacturing, with our new large-format tile production facility in the UAE currently in the commissioning stage. The facility will be commercially operational by the end of 2025,” the CEO noted.
In 2024, the net profits retreated by 27% YoY to AED 234.08 million from AED 320.85 million.
