The importer
Diplomat Holdings
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May lose important doubt in one of the areas of activity: Two weeks after its issuance on the Tel Aviv Stock Exchange, the company reports that the subsidiary operating in Georgia has received a notice from the giant Nestle brand, which it distributes in the country, that it intends to enter into a new tender. The diplomat stated that they intend to approach the tender.
A diplomat’s hope, then, is to win the tender and continue the engagement, as sales of Nestlé products account for 36% of turnover in Georgia. The activity in the entire country constitutes 10% (approximately NIS 230 million in 2020) of the Group’s turnover, and specifically Nestle sales in Georgia are responsible for a 3-4% share of the total turnover. It should be noted that another major customer of a diplomat in Georgia is Procter & Gamble, with a 46% share of sales in the country.
Diplomat began trading on the Tel Aviv Stock Exchange this week after completing an IPO in which it raised NIS 300 million from the public at a company value of NIS 1.5 billion. The company’s revenues in the first nine months of 2020 amounted to NIS 2 billion, operating profit was NIS 94.2 million (Approximately 85.6 million in the corresponding period) and the net profit amounted to approximately NIS 58.7 million (approximately 44.6 million in the corresponding period).
The company published pro-forma results for the entire year, according to which, according to its best estimate, it is expected to present an annual income of NIS 2.8 billion, adjusted EBITDA in the amount of NIS 150 million and a net profit of NIS 89 million (pro-forma results are After deducting exceptional expenses, and with the inclusion of the results of the companies Meditrend and CDSL acquired at the end of 2020 and at the beginning of 2021).
The company, established in 1963, operates in Israel, South Africa, Georgia, Cyprus and New Zealand and distributes over 100 prominent international brands in the fields of food, toiletries, grooming and cleaning products, including Gillette, Brown, Dorsel, Neutrilon, Lotus, Kluges, Oreo, Kikoman, Heinz, Blue Band, Milka, Jacobs, Pringles, Ariel, Always, Tempax, Pampers, Beyond-Meat and more. In addition, the company owns the Starkist tuna brand.
It was recently announced that Diplomat, together with the companies Leiman Schlissl, Guri and Bar, will set up a venture to distribute goods for containers and explosives. The venture will compete with the regional cash & curry stores of
Shufersal
-0.38%
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, From which some of the small food retailers purchase goods that are not profitable for the large suppliers to transport to them.
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