Novologist: Profit for the quarter increased by about 50% – the capital market

Health Services Group

Novolog
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Publishes its financial results for the fourth quarter of 2020 and for the entire year: Revenue for the quarter grew by 22% to a total of NIS 273.8 million, compared to NIS 225.1 million in the corresponding quarter (attributed to organic growth along with the absorption of Salos activity), and net profit increased by 46 % To NIS 8.3 million, compared with NIS 5.7 million in the corresponding quarter. Revenues this year amounted to NIS 1.134 billion, 13% higher than NIS 1 billion in 2019 and the annual net profit was NIS 40.6 million – three times NIS 10.1 million last year. Novolog will distribute an additional dividend of NIS 16 million for the results.

At the end of 2020, Novolog’s equity amounted to approximately NIS 296 million, compared with approximately NIS 264 million at the end of 2019. The company’s cash balance amounts to approximately NIS 176 million, without financial debt.

More from the company’s results: Adjusted EBITDA in the quarter was NIS 27.1 million, 27% higher than NIS 21.4 million in the corresponding quarter, and the annual figure was NIS 105.2 million, an increase of 22% from NIS 86.1 million in -2019. Gross profit for the quarter amounted to NIS 36.1 million, an increase of 38% from NIS 26.1 million in the corresponding quarter. The annual gross profit amounted to NIS 129.3 million, 31% higher than the level of NIS 98.6 million in 2019.

The quarterly operating profit was NIS 14.4 million, 56% higher than NIS 9.2 million in the corresponding period, and for the entire year the operating profit was NIS 61.1 million, an increase of 85% compared to NIS 33.1 million. In 2019.

“The results support the company’s business goals for 2021 and the growth is significant in all divisions and we anticipate that they will continue to grow, even more so, in the coming years,” he said. Iran Taos, CEO of Novolog. “In addition, in the past year we have made a number of synergistic acquisitions as part of the company’s strategy to strengthen its position as a world leader in health care. We have acquired control of Salos and AML, the two companies integrate well into the healthcare division

“Looking ahead, we will continue to focus on improving existing activities and locating additional synergistic acquisitions in Israel and around the world. All this in order to realize the company’s multi-year growth plans while bringing value to all shareholders.”

Novolog was established in 1966 and currently employs about 650 people and operates within three divisions: logistics (access to complementary logistics services in the field of pharmaceuticals, medical equipment and clinical trials), health services (access to medical services at the patient’s home) and digital (access to information and online medical services).

It has just announced two significant deals: the acquisition of 20% of the German telemedicine company from Flex for 6.5 million euros and the acquisition (75%) of the control of AML (American Medical for Bortoris), which is the largest private medical laboratory in Israel, for NIS 20.6 million. Referring to the Medplex deal, Taos said it was an “important first step in implementing the strategic plan to expand our operations overseas. The telemedicine market is developing in Germany and Deplex is in an accelerated growth trend and we see great potential in this investment. ”