
RAK Ceramics Announces Q1 2024 Financial Results
May 2024 Group revenue: Experienced a decline of 11.4% to AED 781.6 million in Q1 2024, owing to ongoing geopolitical
challenges and market conditions in core markets except the UAE market.
Gross profit margin: Robust improvement of 70bps year-on-year to reach 39.3% for Q1 2024, on account of
production efficiencies, lower gas prices in the UAE and improved sales of premium and differentiated products.
EBITDA performance: Year-on-year decrease of 3.9% in Q1 2024 to reach AED 151.0 million, accompanied by
notable margin growth of 150bps at 19.3%.
Net profit after tax: Q1 2024 net profit decreased 21.5% year-on-year to reach AED 62.9 million, with net profit
margin decreasing to 8.0% compared to 9.1% in Q1 2023.
Financial health: Net debt decreased by AED 54.3 million in Marc...