Shufersal || Record revenue of NIS 15 billion

Holdings data in Shufersal shares

According to FUNDER website data,
360 mutual funds hold Shufersal shares worth NIS 365.24 million

Funds that hold significant holdings in the stock – for the full list of holdings

Below is a change in the holdings of the mutual funds in the Shufersal share according to FUNDER-MVF data.

Shufersal continues to present excellent business results, which express its leadership in the retail market in Israel and its correct preparation in building infrastructure over the past few years, which have resulted in extensive and successful work during the crisis in general, and in online sales in particular.

Shufersal Online’s sales this year amounted to approximately NIS 3 billion, which constitutes approximately 19.9% ​​of total food retail sales, compared with approximately 15% last year.

The Be network continues to improve its results, reaching operational balance for the first time in the fourth quarter, in accordance with work plans.

– The Group’s revenues in 2020 amounted to approximately NIS 15.23 billion, which is an increase of approximately 14% compared to last year, which is mainly attributed to the company’s growth in sales floor in Shufersal branches, Be and the online channel compared to approximately NIS 13.36 billion last year.

– The Group’s revenues in the fourth quarter of this year amounted to approximately NIS 3.9 billion – an increase of approximately 15.9% compared to the corresponding period last year.

– Sales in identical branches (food retail: sales floor and online) increased by about 13.4% this year and by about 15.4% in the fourth quarter compared to the corresponding period last year.

– The gross profit in 2020 amounted to NIS 4.043 million, which constitutes approximately 26.5% of total revenues, compared with approximately NIS 3.6 billion last year, which constituted approximately 27% of total revenues. The decrease in the gross profit rate is mainly due to lower prices and an increase in online sales. .

– In the fourth quarter, gross profit amounted to approximately NIS 1,047 million, which constitutes approximately 27% of total revenues, compared with approximately NIS 988 million, which constituted approximately 26.9% in the corresponding period last year.

– Operating profit in 2020 amounted to NIS 718 million, which constitutes approximately 4.7% of total revenues, compared with NIS 521 million, which constituted approximately 3.9% of revenues in the corresponding period last year.

– Operating profit in the fourth quarter of this year amounted to approximately NIS 202 million, which constitutes approximately 5.2% of the revenue turnover, compared with approximately NIS 116 million, which constituted approximately 3.5% of the revenue turnover in the corresponding period last year.

– Net profit this year increased by approximately 44% and amounted to approximately NIS 387 million, which constitutes approximately 2.5% of revenues in the corresponding period last year, compared with approximately NIS 268 million, which constituted approximately 2.0% of revenues last year. Retail and improvement in Be Network results.

Excluding one-time tax revenues in 2019, net profit increased by about 80% this year.

– The net profit for the quarter amounted to approximately NIS 120 million, which is an increase of approximately 2.6% compared to approximately NIS 117 million in the corresponding period last year. Excluding non-recurring tax revenues in 2019, net profit increased by 87% in the quarter.

– EBITDA this year amounted to approximately NIS 1,514 million, which constitutes approximately 10% of the Company’s total revenues, compared with approximately NIS 1,266 million last year, which constituted approximately 9.5% of the Company’s total revenues last year. The increase is mainly due to the increase in operating profit.

– EBITDA for the quarter amounted to approximately NIS 411 million, which constitutes approximately 10.6%, compared with approximately NIS 322 million, which constituted approximately 9.6% in the corresponding period last year. The increase is mainly due to the increase in operating profit.

– Private label sales this year amounted to NIS 3.9 billion, which constitutes a share of approximately 25.8% of total food retail sales, compared with approximately 25.2% last year.

– Private label sales in the quarter amounted to approximately NIS 1 billion, constituting a share of approximately 26.4% of total food retail sales, compared with approximately 25.4% in the corresponding period last year.

– Shufersal Online’s sales amounted to approximately NIS 3 billion this year and constitute approximately 19.9% ​​of total food retail sales, compared with approximately 15% last year.

In the fourth quarter of this year, Shufersal Online’s sales amounted to approximately NIS 805 million and constitute approximately 21.3%, compared with approximately 15.6% in the corresponding period last year.

– The Be chain continues to significantly improve its results: revenues amounted to approximately NIS 815 million, compared with approximately NIS 708 million last year – an increase of approximately 15.1%.

– Sales in the same branches in the Be chain increased by 13.8% compared to the same period last year.

– This year, the Be chain reduced its operating loss by about 73%: from about NIS 70 million last year to about NIS 19 million this year. In the fourth quarter of this year, the Be network reached an operational balance. Compared to an operating loss of approximately NIS 30 million in the corresponding period last year, mainly as a result of an increase in revenues, operational efficiencies and a deepening of the synergy with the Group as part of the completion of the merger process between the companies.

Yaki Vadmani, Chairman of the Board of Shufersal and Itzik Aberkhan, CEO of Shufersal, stated: “We are pleased to conclude 2020, a record year for the Group’s results, during which the fruits of the significant strategic processes we have led in recent years were reflected. With the outbreak of the global corona epidemic earlier this year and its impact on Israel at the end of the first quarter, the group Food and other basic consumer products, both in physical stores and online.

The fact that over the past few years we have laid down the logistical, technological, operational and human infrastructures has enabled us to address the changing consumer needs.

During the year, we continued to promote growth and turn Shufersal into a diverse, customer-focused retail group, which reflects its strengths and capabilities in the range of business activities we lead, including Shufersal for Business (B2B), finance, real estate and more.

Our private label, which has become one of the most popular and popular brands in Israel, continues to strengthen and expand, and this year reached sales of about NIS 3.9 billion, which constitutes about 25.8% of the company’s total sales.

The BE chain, which continues its growth process in accordance with its work plans, moved as planned in the fourth quarter to an operational balance, while growing in sales, despite the challenges of the period.

We continue to work to improve the service and customer experience. These days, the establishment of the most advanced automatic collection and distribution centers in the world continues, which will lead Shufersal to a new world of service and customer experience in online activities, which is expected to continue to grow even after the Corona crisis, following global trends in the field.

In the first quarter of 2021, we announced the signing of a strategic agreement between the Shufersal Group and the Discount Group to establish a company to provide innovative digital banking products and products based on PayBox services. This activity will be an innovative and significant activity arm for the company in the coming years and it will include very unique value propositions for our customers.

“Especially in this challenging year, we want to thank the company’s dedicated employees, who are a key factor in our success and leadership.”

Analysis of activity results

During the reporting period, following the outbreak of the corona virus, there was an increase in the company’s sales in general and through online activity in particular.

1.2.1 Analysis of results for 2020 compared to 2019

Retail sector revenues in 2020 amounted to NIS 14,371 million, compared with NIS 12,603 ​​million in the previous year, an increase of 14%, mainly due to the effect of the outbreak of the corona virus. Sales in the company’s branches for 2020 increased by about 14.7% compared to the previous year. The difference between the increase in the Company’s revenues and the increase in the Company’s sales is mainly attributed to the continued increase in the activity of the franchisees.

Identical store sales in 2020 increased by 13.4% compared to the previous year, the increase was mainly due to the effect of the corona virus outbreak. Sales per square meter in the Company’s stores in 2020 amounted to NIS 27,898, compared with NIS 24,819 in the previous year, an increase of 12.4%, mainly due to the above.

Revenue from the real estate sector in 2020 amounted to NIS 182 million, similar to the previous year.

Revenue from the Be segment in 2020 amounted to NIS 815 million, compared with NIS 708 million in the previous year, an increase of 15.1%, which was mainly due to the opening of new branches and an increase in revenue from identical stores (including an increase in online activity). Sales in Be4 identical stores increased by 13.8% compared to last year, in accordance with the above. Sales per 5 square meters in Be stores in 2020 amounted to NIS 24,439, compared to NIS 23,331 in the previous year, an increase of 4.8%.

The Group’s revenues in 2020 amounted to NIS 15,233 million, compared to NIS 13,360 million in the previous year, an increase of 14%, which was mainly due to the retail sector. Sales in the Group’s 4 identical stores in 2020 increased by 13.4% compared to the previous year.

Gross profit in 2020 amounted to NIS 4,043 million, compared to NIS 3,609 million in the previous year, an increase of NIS 434 million. The increase in total gross profit was mainly due to an increase in the Group’s revenue. The gross profit ratio of total revenue is 26.5% , Compared with 27% in the previous year, a decrease of 0.5% due mainly to lower prices and an increase in the online sales rate.

Sales, marketing, administrative and general expenses in 2020 amounted to NIS 3,325 million, compared with NIS 3,088 million in the previous year. The share of expenses in total income was 21.8%, compared to 23.1% in the previous year. The increase in total expenses was mainly due to an increase in the Group’s activity. The decrease in the rate of expenses from total income was due to the ratio between the increase in expenses and the increase in income.

Operating profit before other income (expenses) in the retail sector in 2020 amounted to NIS 544 million and at a rate of 3.8% of revenues, compared with NIS 397 million and 3.2% of revenues in the previous year, an increase of NIS 147 million which Derived from the above.

Operating profit before other income (expenses) in the real estate sector in 2020 amounted to NIS 151 million, compared with NIS 150 million in the previous year.

The operating loss before other income (expenses) in the Be segment in 2020 amounted to NIS 19 million, compared with NIS 70 million in the previous year. The decrease in loss was due to the increase in revenue as well as the decrease in the rate of selling, marketing, management and general expenses of the total income resulting, among other things, from operational efficiencies and the deepening of the operational synergy with the company.

Operating profit after other income (expenses) of the Group in 2020 amounted to NIS 745 million and at a rate of 4.9% of revenues, compared with NIS 557 million and at a rate of 4.2% of revenues in the previous year, an increase of NIS 188 million which Derived mainly from the above, other income in the amount of NIS 10 million resulting from a decrease in the provision in connection with an appeal filed by the Company against the Israel Land Authority’s demand for payments for (allegedly) excessive use of the property leased by the Company in Netanya, and a decrease. In the amount of NIS 26 million, compared to the corresponding period last year.

Operating profit before other income (expenses), depreciation and amortization (EBITDA in 2020 amounted to NIS 1,514 million and at a rate of 9.9% of total revenues, compared to NIS 1,266 million and at a rate of 9.5% of total revenues in the previous year. The increase was due to Mainly from an increase in operating profit.

Net financing expenses in 2020 amounted to NIS 232 million, compared with NIS 259 ​​million in the previous year. A decrease of NIS 27 million, mainly due to a decrease in expenses in respect of forward transactions for the protection of foreign exchange-linked transactions compared with the corresponding period last year, as well as the effect of changes in the consumer price index on the Company’s indexed debenture balances. % Compared to an increase of 0.3% in the corresponding period last year).

Income taxes in 2020 amounted to NIS 122 million, compared with NIS 38 million in the previous year, an increase mainly due to an increase in profit for the period and a deferred tax income for losses in the Be segment, last year.
The net profit for 2020 amounted to NIS 387 million, compared with NIS 268 million in the previous year, an increase resulting from the above.

The company’s basic and diluted earnings per share for 2020 were NIS 1.62, compared to NIS 1.13 in the previous year.