Waves Home Appliances Limited — Call Transcript 2025

Nov 4, 2025

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WAVES HOME APPLIANCES LIMITED CORPORATE BRIEFING SESSION 04-NOVEMBER-2025

CORPORATE BRIEFING SESSION

TABLE OF CONTENTS

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1 WAVES GROUP- CORPORATE STRUCTURE

2 WAVESAPP – COMPANY OVERVIEW

3 HOME APPLIANCES BUSINESS

• PRODUCT RANGE

• PAKISTAN APPLIANCES MARKET

4

FINANCIAL PERFORMANCE

• PROFIT & LOSS ACCOUNT

• PROFITABILITY MARGINS

CORPORATE BRIEFING SESSION

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WAVES GROUP- CORPORATE STRUCTURE

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Waves Corporation Limited
(WAVES)
50% 100% 100%
Home Appliances Business Real Estate Development
Retail Business
(Manufacturing) (Real Estate Project)
(100 Retail Outlets)
Waves Home Appliances Waves Builders & Developers
Waves Market Place Limited
Limited Private Limited
(WMPL)
(WAVESAPP) (WBDL)
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CORPORATE BRIEFING SESSION

COMPANY OVERVIEW – WAVES HOME APPLIANCES LIMITED

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• The Company carries a legacy of the WAVES brand (Naam he kafi hai) for almost half a century.

• Waves Home Appliances Limited is principally engaged in the manufacturing and assembling of consumer appliances and other light engineering products under the brand name “ WAVES ”.

• It is a public limited company, quoted on the Pakistan Stock Exchange, and was formed following the demerger of the home appliances business from Waves Corporation Limited into a subsidiary Waves Home Appliances Limited in 2022.

• Waves is the only appliances manufacturer that is exclusively engaged in the manufacture of home appliances, with no other business interests on its balance sheet with the status of a publicly listed company.

• “WAVES” is a leading brand in the market of home appliances and is one of the most recognizable brands in Pakistan. It is the market leader in deep freezers with over 5 decades of experience.

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CORPORATE BRIEFING SESSION

PRODUCT RANGE & CORPORATE CLIENTELE

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Deep Freezers Refrigerators

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Visi-coolers Air Conditioners White Goods Water Heaters

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Washing Machines Microwave Ovens Water Dispensers

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WAVES has captured considerable market share in the corporate segment producing products for corporate clients such as Coca-Cola, Pepsi, etc. holding a majority market share.

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CORPORATE BRIEFING SESSION

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PAKISTAN APPLIANCES MARKET

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Size: PKR 25 Bn
Water Heater
Size: PKR 25 Bn
Water Dispensers
Size: PKR 25 Bn
Microwaves
Size: PKR 115 Bn
Washing Machine
Size: PKR 65 Bn
Deep Freezers
Size: PKR 190 Bn
Air Conditioners
Size: PKR 230 Bn
Refrigerator
PKR 75 Bn for Other Appliances
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CORPORATE BRIEFING SESSION

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FINANCIAL PERFORMANCE

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CORPORATE BRIEFING SESSION

PROFIT & LOSS ACCOUNT

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Particulars	9M 2025 (Mn)	6M 2025 (Mn)	FY 2024 (Mn)
Gross Sales	4,019	2,916	4,078
Sales-net	2,793	2,004	3,170
Cost of sales	(2,035)	(1,459)	(2,284)
Gross profit	758	544	886
Marketing, selling and distribution	(170)	(134)	(238)
Administrative expenses	(179)	(121)	(223)
Other expenses	(78)	(37)	(171)
Other income	385	270	525
Profit from operations	716	523	779
Finance costs	(403)	(321)	(605)
Profit before levies and income tax	313	203	174
Levies & Income Tax Expenses	(52)	(47)	(21)
Profit for the period	262	156	153
Earnings per share	0.98	0.58	0.57

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CORPORATE BRIEFING SESSION

PROFITABILITY MARGINS

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Particulars	9M 2025	FY 2024	FY 2023	FY 2022
Gross Margin	27.1%	28.0%	26.0%	19.6%
Operating Profit Margin	25.6%	24.6%	12.4%	9.1%
Net Margin	9.4%	4.8%	2.8%	0.2%
EPS	0.98	0.57	0.43	0.05

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CORPORATE BRIEFING SESSION

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QUESTIONS & ANSWER SESSION

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THANK YOU
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