Waves Home Appliances Limited (PSX:WAVESAPP)

Waves Home Appliances Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	3,680	3,667	3,170	4,176	7,423	2,084
Revenue Growth (YoY)	11.43%	15.66%	-24.09%	-43.74%	256.25%	-
Cost of Revenue	2,680	2,665	2,285	3,091	5,971	1,583
Gross Profit	999.88	1,001	884.87	1,085	1,452	500.47
Selling, General & Admin	481.35	482.15	460.65	540.03	731.72	275.01
Other Operating Expenses	276.14	297.28	-286.38	70.58	-6.29	-0.11
Operating Expenses	757.49	779.43	174.26	610.61	725.43	274.9
Operating Income	242.39	221.81	710.61	474.13	726.23	225.57
Interest Expense	-634.68	-582.24	-474.61	-184.42	-163.88	-225.82
Interest & Investment Income	0.34	0.34	2.03	4.09	1.38	-
Currency Exchange Gain (Loss)	-0.62	-0.62	0.09	-23.28	-68.14	-33.84
Other Non Operating Income (Expenses)	-123.81	-123.81	-119.75	-189.3	-385.45	-7.89
EBT Excluding Unusual Items	-516.38	-484.52	118.37	81.22	110.14	-41.99
Gain (Loss) on Sale of Assets	5.81	5.81	48.88	28.48	18.99	2.96
Asset Writedown	382.9	382.9	1.3	33.61	-	-
Other Unusual Items	200	200	-0.11	-0.6	-	121.67
Pretax Income	72.33	104.18	174	142.71	129.13	82.64
Income Tax Expense	-120.5	-85.02	20.71	26.99	116	55.65
Net Income	192.83	189.2	153.29	115.72	13.13	27
Net Income to Common	192.83	189.2	153.29	115.72	13.13	27
Net Income Growth	-8.43%	23.43%	32.47%	781.53%	-51.38%	-
Shares Outstanding (Basic)	266	268	268	268	268	182
Shares Outstanding (Diluted)	266	268	268	268	268	182
Shares Change (YoY)	1.06%	-	-	-	47.50%	1428.92%
EPS (Basic)	0.73	0.71	0.57	0.43	0.05	0.15
EPS (Diluted)	0.73	0.71	0.57	0.43	0.05	0.15
EPS Growth	-9.39%	23.43%	33.07%	777.51%	-67.03%	-
Free Cash Flow	0.04	-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	27.17%	27.31%	27.91%	25.97%	19.56%	24.02%
Operating Margin	6.59%	6.05%	22.41%	11.35%	9.78%	10.83%
Profit Margin	5.24%	5.16%	4.83%	2.77%	0.18%	1.30%
Free Cash Flow Margin	0.00%	-0.03%	-5.52%	1.33%	8.99%	2.97%
EBITDA	517.21	487.93	933.85	727.85	960.23	367.2
EBITDA Margin	14.06%	13.31%	29.46%	17.43%	12.94%	17.62%
D&A For EBITDA	274.82	266.12	223.25	253.71	234	141.63
EBIT	242.39	221.81	710.61	474.13	726.23	225.57
EBIT Margin	6.59%	6.05%	22.41%	11.35%	9.78%	10.83%
Effective Tax Rate	-	-	11.90%	18.92%	89.83%	67.33%
Revenue as Reported	3,680	3,667	3,170	4,176	7,423	2,084
Advertising Expenses	-	1.9	1.93	7.78	31.42	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.