Durex Manufacturer Is Expected To Experience Further Growth
Financial Highlights
Carex brand condom owner company: Karex has been enjoying strong financial growth in recent years. In 2012, the company recorded RM188.8 million of revenue. By 2013, the company’s revenues grew to RM231.4 million. By 2014, this revenue is projected to increase to RM265.5 million and RM327 million by 2015, according to Maybank Investment Research. The company’s EBITDA (Earnings before interests, taxes, depreciation and amortisation) grew from RM22.5 million in 2012 to RM44.3 million in 2013. By 2014, the EBITDA is projected to reach RM49.6 million and by 2015, it will reach RM63.9 million.
Key Developments
- Karex raised RM74.9 million in total gross proceeds from its IPO, to be utilised for the enhancement of its machineries and product development, as well as capital expenditure for expansion of its facilities.
- Karex to invest RM100 million to boost output to 6 billion units via more condom production dipping lines to meet demand in new markets.
- Karex has proposed a stock bonus that would award one share for every two shares held. • Karex to continue to ride on strong institutional demand, which makes up 48 percent of the global demand and 36 percent of its revenue pie.
- Demand will continue to grow given the low world consumption of only 3.3 condoms per capita per year.
