AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Waves Home Appliances Ltd. (WAVESAPP) presented its financial results for the fiscal year CY24 and the first nine months of CY25 during an analyst briefing, highlighting a mixed performance in revenue and earnings. The briefing outlined key financial metrics, market insights, and strategic initiatives that could influence the company’s trajectory.
The company reported a significant decline in net revenue for CY24, with figures dropping to PKR 3.2 billion, a 24% decrease from the previous year’s PKR 4.2 billion. This decline was attributed to unspecified factors affecting market demand during that period. However, a recovery in demand led to a revenue increase in 9MCY25, with the topline reaching PKR 2.8 billion, an 11% increase compared to PKR 2.5 billion in the same period last year.
In terms of profitability, WAVESAPP demonstrated a positive trend. The company recorded earnings of PKR 153 million in CY24, reflecting a 32% increase from the previous year’s PKR 116 million. This growth continued into 9MCY25, with earnings soaring to PKR 262 million, a significant rise from PKR 68 million in the same period last year. The surge in earnings was primarily attributed to a rise in other income.
The briefing also shed light on the broader landscape of Pakistan’s appliance market, valued at approximately PKR 750 billion. Waves Home Appliances maintains a leading position in the deep freezer segment, catering to both retail and corporate clients. The company is expanding its product offerings by reintroducing its air conditioner, washing machine, and microwave ranges under a completely knocked down (CKD) model.
WAVESAPP’s diverse product line includes refrigerators spanning five different widths, aiming to meet a wide range of market demands. The company remains optimistic about leveraging market opportunities to sustain growth and enhance its market position.
The analyst briefing, hosted by AKD Securities Limited, provided a comprehensive overview of WAVESAPP’s financial performance and strategic direction, offering insights into the company’s efforts to navigate challenges and capitalize on emerging market trends.