Yasmine Mohamed Khamis leads Egyptian carpet maker to $480 million in 2024 revenue

Key Points

• Oriental Weavers’ revenue jumped 38% to EGP24.3 billion ($480 million) in 2024, driven by a 42% rise in international sales.
• Net income climbed 34% to EGP2.54 billion ($50.14 million) as margins improved, reflecting strong cost controls and operational efficiency.
• The company announced a $21 million dividend, expanded global operations, and invested $470,000 in wastewater treatment for sustainability efforts.

Oriental Weavers, the Cairo-based carpet and textile giant led by Egyptian businesswoman Yasmine Mohamed Khamis and her siblings, closed 2024 on a high note, posting a 38 percent surge in revenue to EGP24.3 billion ($480 million). The strong performance was driven by a sharp rise in international sales, even as global trade faced economic and geopolitical pressures.

According to its latest financial results, international revenue jumped 42 percent, while domestic sales in Egypt grew 28 percent. Though overall sales volumes remained steady, the increase in revenue highlights the company’s strategic push in global markets, which accounted for 62 percent of total sales.

Profits climb on strong margins

The robust revenue growth led to a significant rise in profitability. Net income rose 34 percent to EGP2.54 billion ($50.14 million), up from EGP1.89 billion ($37.3 million) in 2023. The company reported an EBITDA margin of 16.7 percent and a net profit margin of 12.7 percent, reflecting improved cost controls and operational efficiency.

“In 2024, our company showed resilience and strength despite macroeconomic and geopolitical challenges,” Oriental Weavers’ management, led by Khamis, said in a statement. “America and Europe remained key markets, contributing 55 percent of total revenue. Our focus is on expanding market share in core regions, improving operations, and strengthening our e-commerce presence.”

To streamline operations, the company wrote down EGP500 million ($10 million) worth of older finished goods. Adjusting for this, margins saw a notable improvement, underscoring Oriental Weavers’ disciplined financial management.

Dividend payout and global expansion

Founded in 1979 and publicly listed on the Egyptian Exchange (EGX) since 1997, Oriental Weavers has expanded its global footprint with production facilities in three countries and distribution in 150 markets. As a leader in machine-woven textiles, it continues to strengthen its position as one of the world’s largest carpet manufacturers.

On the back of its strong financial results, Oriental Weavers announced a final dividend payout of $21 million for the 2024 fiscal year, rewarding shareholders after a year of solid earnings growth. The decision reflects the company’s improved working capital management and commitment to delivering value to investors.

Sustainability investments

Oriental Weavers isn’t just focused on financial growth—it’s also stepping up its sustainability efforts. The company recently completed a EGP24 million ($470,000) upgrade to its industrial wastewater treatment plant at its spinning factory.

The facility now has four treatment stages and can process 1,250 cubic meters of wastewater daily, improving environmental efficiency. At the same time, Oriental Weavers is investing in international growth and digital expansion, ensuring it stays ahead in the carpet industry despite global economic challenges.