Oriental Weavers Carpet Company

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Local revenues supported by rise in prices and volumes across all segments; Currency devaluation saves export revenues. Decline in volumes pressures margins; Exceptional export rebates boosts bottom-line. Export market recovery, prices increase, and....

Local & Export Market. 2022 Updates & 2023 Targets. Recovery in demand & currency devaluation backs our FV Upgrade.

Local rise not enough to offset exports drop. Pressured gross profitability trickles all the way down despite higher export rebates. Overweight recommendation maintained by solid 4Q22 expectations.

The trend of lagging volumes and soaring prices continues; Annual revenue performance improves. Bottom line pressured by increasing costs, higher finance expenses, and lower rebates. Brighter performance expected with export recovery and weaker curre...

This rise was mainly backed by demand for Grade B products and by consumers making an early purchasing decision in anticipation of price increases in the local market in general. The tufted products witnessed a strong recovery in sales due to diversi...

Such strategy is expected to be sustained going forward. Local sales came in at EGP994 mn for the quarter, rising by 6.5% YoY and 12.1% QoQ, supported by prices more than volumes, where Average Local Selling Price rose by 11.8% YoY due to selling an ...