Amir Marketing: Increase in operating profit to 13 m in the quarter – Capital Market

The Cannabis Company

Amir Marketing
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Reports an operating profit of NIS 13 million in the fourth quarter, compared to NIS 3.5 million in the corresponding quarter. Net income amounted to NIS 2.5 million, compared with a net loss of NIS 13.5 million in the corresponding quarter. The year 2020 was marked by the corona, but the company notes that it has not identified a decline in demand for the various products supplied from its branches around the country. In addition, the company did not reduce its workforce, or outsource employees.

A few years ago Amir Marketing entered the medical cannabis field at a perfect time, the sector was boiling, and accordingly the expected occurred – trading volumes in the stock increased significantly and private traders, relatively small investment managers and hedge funds began to examine the company and its activities in depth. Before entering the field of medical cannabis, she was and still is engaged in the field of inputs to the agricultural sector (distribution of pesticides, fertilizers, mixtures and packaging), and this is actually her main activity – she is considered one of the largest in the country in her field. In the field of agriculture).

Along with the company’s traditional activity, it also owns income-producing real estate. The volume of income from this activity in 2020 amounted to NIS 6.4 million, a decrease of 16.8% compared to 2019. The decrease is mainly due to the granting of discounts to some tenants, for the periods in which The restrictions imposed due to the spread of the corona virus did not allow at all the opening of the businesses they operate (March, April, September and October last year).

The company’s revenues in 2020 amounted to NIS 1.08 billion, compared to revenues of NIS 963 million in 2019. The company reports a 4.9% increase in income from agricultural activities. In the field of pesticides, there was a 9.2% increase in revenue. In the field of fertilizers, there has been no significant change in annual sales. In the field of packaging, there was an increase of approximately 7.2% in revenues, and in the field of mixtures, there was no significant change in revenues.

EBITDA amounted to NIS 72.1 million in 2020, compared with NIS 50.4 million in 2019, an increase of 43%.

The net profit amounted to NIS 24.4 million, a sharp jump compared to a profit of NIS 7.4 million in 2019. The increase in net profit in 2020 is due to the significant increase in operating profitability and a decrease in financing expenses.