Latest news with #AbdallahMassaad
Zawya
19-05-2025
- Business
- Zawya
RAK Ceramics achieves nearly $13.28mln profits in Q1-25
Abu Dhabi: 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.
Arabian Business
31-03-2025
- Business
- Arabian Business
Building materials
Building materials The boom in new real estate projects is driving up construction material costs by up to 15% building material UAE orders companies to revert to former building material prices Abu Dhabi The new units will be supported by centralised finance, human capital, technology, strategy & transformation and a new projects function Abdallah Massaad In conversation with Abdallah Massaad, Group CEO of RAK Ceramics Architecture More architects are focusing on the carbon footprint of their building, rather than flashy features that once may have earned them a place in history books alongside great architects building and construction The two entities launched a Beijing-based centre to explore opportunities for joint projects in research and development of the materials, which have cost, efficiency and environmental advantages over metal alternatives
Zawya
13-02-2025
- Business
- Zawya
RAK Ceramics posts 27% lower profits in 2024; dividends for H2-24 proposed
Abu Dhabi: RAK Ceramics logged net profits valued at AED 234.08 million in 2024, down 27% year-on-year (YoY) from AED 320.85 million. The revenues stood at AED 3.23 billion as of 31 December 2024, an annual drop of 6.50% from AED 3.45 billion, according to the financial results. Basic and diluted earnings per share (EPS) plunged to AED 0.22 last year from AED 0.29 in 2023. The company attributed the decline to global macroeconomic factors, including ongoing geopolitical tensions, inflationary pressures, and supply chain disruptions. Financials for Q4 In the fourth quarter (Q4) of 2024, the company's revenues went up by 0.50% to AED 870.90 million from AED 866.40 million in Q4-23. Net profits dropped by 21.50% to AED 64.20 million in Q4-24 from AED 81.80 million a year earlier. Quarterly, the net profits generated in Q4-24 jumped by 14.80% from AED 55.90 million in Q3-24, while the revenues increased by 8.50% from AED 802.50 million. Abdallah Massaad, Group CEO of RAK Ceramics, said: 'In Q4, we faced a complex macroeconomic landscape, characterized by geopolitical uncertainties, inflationary pressures, and shifting consumer demand. This was compounded by currency fluctuations and supply chain constraints, which knocked our top-line performance and profitability.' 'Looking ahead, our strategic priorities centre on protecting our market share, optimising operations, further diversifying our offering, accelerating digitalisation, and expanding our production capabilities,' Massaad added. The CEO noted: 'By leveraging technology and targeted investments, we aim to enhance resilience and create long-term value for our investors and customers.' Additionally, the board proposed a dividend distribution of 10 fils per share, equivalent to AED 99.40 million, for the second half (H2) of 2024.
