Abu Dhabi – Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) saw net losses attributable to the owners of AED 129.72 million in 2020, compared to AED 164.378 million net profits in 2019.

The company's revenues decreased by 8.7% to AED 2.349 billion in 2020 from AED 2.574 billion in the earlier year, according to the company's consolidated financials for 2020.

The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) reached AED 354.8 million in 2020, down 26.5% from AED 482.8 million in the earlier year.

The basic and diluted loss per share settled at AED 0.13 in 2020, against earnings per share (EPS) of AED 0.17 in 2019.

In the fourth quarter (Q4) of 2020, the company's like-for-like net profit jumped by 39.3% to AED 77.5 million, when compared to the year-ago period.

The Group CEO of RAK Ceramics, Abdallah Massaad, remarked: "Looking ahead to 2021, our priority will be to enhance our global operations, while diversifying and improving profitability in export markets."

It is noteworthy to mention that during the third quarter (Q3) of 2020, the company's net profits decreased to AED 33.07 million from AED 39.12 million in the same quarter of 2019.