Waves Home Appliances Income Statement

Financials in millions PKR. Fiscal year is January - December.

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,667	3,170	4,176	7,423	2,084
Revenue Growth (YoY)	15.66%	-24.09%	-43.74%	256.25%	-
Cost of Revenue	2,660	2,286	3,091	5,971	1,583
Gross Profit	1,006	884.55	1,085	1,452	500.47
Selling, General & Admin	487.17	459.76	540.03	731.72	275.01
Other Operating Expenses	-243.89	-295.79	70.58	-6.29	-0.11
Operating Expenses	243.28	163.96	610.61	725.43	274.9
Operating Income	762.97	720.59	474.13	726.23	225.57
Interest Expense	-706.05	-605.25	-373.72	-163.88	-225.82
Interest & Investment Income	-	2.03	4.09	1.38	-
Currency Exchange Gain (Loss)	-	0.09	-23.28	-68.14	-33.84
Other Non Operating Income (Expenses)	-	-	-0	-385.45	-7.89
EBT Excluding Unusual Items	56.92	117.45	81.22	110.14	-41.99
Gain (Loss) on Sale of Assets	-	48.88	28.48	18.99	2.96
Asset Writedown	-	2.19	33.61	-	-
Other Unusual Items	-	-0.11	-0.6	-	121.67
Pretax Income	56.92	174	142.71	129.13	82.64
Income Tax Expense	-132.28	20.71	26.99	116	55.65
Net Income	189.2	153.29	115.72	13.13	27
Net Income to Common	189.2	153.29	115.72	13.13	27
Net Income Growth	23.43%	32.47%	781.53%	-51.38%	-
Shares Outstanding (Basic)	266	268	268	268	182
Shares Outstanding (Diluted)	266	268	268	268	182
Shares Change (YoY)	-0.52%	-	-	47.50%	1428.92%
EPS (Basic)	0.71	0.57	0.43	0.05	0.15
EPS (Diluted)	0.71	0.57	0.43	0.05	0.15
EPS Growth	24.56%	32.56%	777.51%	-67.03%	-
Free Cash Flow	-1.21	-175.02	55.38	667.07	61.94
Free Cash Flow Per Share	-0.01	-0.65	0.21	2.49	0.34
Gross Margin	27.44%	27.90%	25.97%	19.56%	24.02%
Operating Margin	20.81%	22.73%	11.35%	9.78%	10.83%
Profit Margin	5.16%	4.83%	2.77%	0.18%	1.30%
Free Cash Flow Margin	-0.03%	-5.52%	1.33%	8.99%	2.97%
EBITDA	984.69	943.83	727.85	960.23	367.2
EBITDA Margin	26.86%	29.77%	17.43%	12.94%	17.62%
D&A For EBITDA	221.72	223.25	253.71	234	141.63
EBIT	762.97	720.59	474.13	726.23	225.57
EBIT Margin	20.81%	22.73%	11.35%	9.78%	10.83%
Effective Tax Rate	-	11.90%	18.92%	89.83%	67.33%
Revenue as Reported	3,667	3,170	4,176	7,423	2,084
Advertising Expenses	-	1.93	7.78	31.42	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.