Results for 2020: Revenues grew to NIS 1.82 billion, compared with NIS 1.79 billion in 2019. Revenue growth is mainly attributable to growth in operating revenues of Amelia Cosmetics and Mendelssohn, partially offset by the erosion in revenues of Chemobil and Overseas companies. The following is the distribution of revenues by division into the Group’s areas of activity: Revenues from the flow and sanitation segment (attributed to Mendelssohn) during the period grew by 4% to NIS 832 million, compared with NIS 802 million in 2019. Revenue growth was mainly due to double-digit growth in manufacturing. And air conditioning for winning a number of projects and growing revenue in construction and plumbing activities, partially offset by the decline in revenue from infrastructure operations.
Revenues from the industrial services sector (attributed to Chemobil) during the period amounted to NIS 469 million, compared with NIS 475 million in 2019. The decrease in revenues was due to a decrease in the volume of activity. Revenues from the private label care products segment (attributed to Amelia Cosmetics) during the period grew by 5% to NIS 215 million, compared with NIS 204 million in 2019. Revenue growth was mainly due to contracts with an international corporation for the supply of disinfectants and protection products in the US during the quarter. The third of 2020.
Revenues from the logistics services segment (attributed to Overseas) in the period amounted to NIS 317 million, compared with NIS 321 million in 2019. The change in revenues is mainly due to a decrease in revenues in the full containers segment, partially offset by the growth in logistics services segment. In Ghana and from the improvement in occupancy in the company’s warehouses.
The Group’s gross profit in 2020 increased by 14% to NIS 412 million, compared with NIS 361 million in 2019. The double-digit increase in gross profit was mainly due to the improvement in the rate of profitability in all areas of activity. The gross profit margin in 2020 increased to approximately 22.7%, compared to approximately 20.1% in 2019. The improvement in the Group’s gross margin is attributed to all operating segments and was positively affected by an improvement in the trading conditions of the Group companies and state tax payments in the amount of NIS 7 million. The corona.
Operating profit in 2020 climbed to about NIS 142 million (about 7.8% of revenues), compared to about NIS 50 million (about 2.8% of revenues) in 2019. The sharp increase in operating profit was due to the said increase in gross profit, from a decrease in operating expenses due to efficiency measures The group companies took steps to reduce expenses, mainly in Chemobil and Emilia Cosmetics, and in 2020 the company recognized other net revenues of NIS 5 million, while in 2019 the company recognized other net expenses of NIS 19 million, mainly due to impairment of the goodwill attributed to the holding. At Overseas.