Q2 2023 Oriental Weavers Carpet Co SAE Earnings Call Transcript
Hello, everyone. This is Mirna Maher from EFG Hermes and welcome to Oriental Weavers Second Quarter 2023 Results Conference Call. I'm pleased to be joined today by Hani Amin, Oriental Weavers' Export Director; Shehta Farouk, Group Financial Controller; Radwa Kamel, Group Treasurer; and Yasmine ElGohary, Investor Relations Manager. We will first start the call with a brief update from the management side and then we'll open the floor for Q&A.
Yasmine, please go ahead.
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Thank you, Mirna. Hello, everyone and welcome to Oriental Weavers' quarterly investor conference call. Today, we'll update you on the company's results for the second quarter of 2023 and provide a high-level guidance for the year ahead after applying 6+6 budget revision. 2Q sales reached EGP 4.2 billion, which is an increase of 31% year-on-year, divided into local sales increase by 25%, backed
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