According to FUNDER website data,
113 mutual funds hold Klil’s shares in the amount of NIS 44.54 million
Funds that hold significant holdings in the stock – for the full list of holdings
The following is a slight change in mutual fund holdings according to FUNDER-MVF data
Revenues in the fourth quarter grew by 14.4% to NIS 104.8 million – mainly in light of the increase in sales volumes in the renovations segment as well.
The rate of gross profit in the fourth quarter rose to 31.0%, compared to 29.2% in the corresponding quarter in 2019
At the same time, the company is announcing a strategic plan for the years 2021-2025 that focuses on a number of growth engines to increase market share and improve profitability in the medium-long term.
Last December, the Company’s Board of Directors updated its dividend distribution policy to at least 50% of the annual net profit (compared to a previous distribution policy of at least 30% of the annual net profit)
Chairman of the Board of Directors of Klil and the controlling shareholder Zuri Dabush: “We are proud to present for the first time the strategic plan that will accompany us in the coming years. The plan focuses on a number of growth engines, which will allow it to easily realize its future growth potential while increasing market share. In the short term, profitability may improve.
As part of the program, the company will work to expand its activity in the field of blinds and will market for the first time a shutter and a shutter box as one unit – a product that we believe is expected to enjoy high demand. In addition, we intend to make a gradual transition to the sale of high-quality / advanced “Klil series” only with the “Klil” stamp, to ensure the quality of the products and strengthen the brand.
At the same time, the company will continue to implement the investment plan for the construction of a technologically advanced painting facility, which will contribute to operational savings and enable quality and independent painting of the products. In addition, the “customer experience” in the process of purchasing the windows will be upgraded so that we will provide the best service to our customers in the entire process of purchasing the window. “
Freddie Aboukaret Klil CEO: “We are proud to conclude the fourth quarter of 2020 with double-digit revenue and profit growth. The high revenue growth was mainly driven by the increase in demand in the apartment renovation segment in light of the public’s desire to design and upgrade home windows with the ongoing stay in the Corona crisis.
Also, despite the rise in aluminum prices, we showed an increase in profitability rates, which was also reflected in a double-digit increase in profits. These days, we are looking at business opportunities to acquire companies or activities with a synergistic value to Klil that will allow us to establish Klil’s status as a market leader in the years to come. “
Klil Industries, the leading manufacturer of windows and aluminum profiles in Israel, led by Zuri Dabush and managed by Freddie Aboukaret, published its financial results for the fourth quarter of 2020, which show double-digit growth in sales following the increase in sales volumes, increase in gross profit And an increase in net profit.
Simultaneously with the publication of the reports, the company published the main strategic plan for the years 2021 to 2025. In accordance with the strategic plan, the company will strive to increase its market share in the field of aluminum construction systems in Israel, along with improving medium- and long-term profitability. In order to fulfill the strategic plan, the company will take a number of actions, including: During 2021, Klil will market for the first time a shutter and a shutter box as one unit – a product that is expected to enjoy high demand, a gradual transition to “Klil” series only after painting and with a “Klil” stamp. The company, an investment plan for the establishment of an advanced painting facility for independent painting, acquisition of companies and activities for the purpose of expanding the product and service basket while utilizing the company’s high liquidity, developing new series with an innovation component, deepening collaborations with “licensed” manufacturers and upgrading the “customer experience” The products.
Highlights of the fourth quarter 2020 results:
Revenue in the fourth quarter of 2020 grew by 14.4% to NIS 104.8 million, compared with NIS 91.6 million in the corresponding quarter in 2019. The double-digit growth in revenue was mainly due to the increase in sales volumes that was positively affected by the significant increase in renovations.
Gross profit in the fourth quarter of 2020 increased by 21.2% to NIS 32.4 million, compared with NIS 26.8 million in the corresponding quarter in 2019. The increase in gross profit was mainly due to the said increase in revenues and the strengthening of the shekel against the dollar by 6.6%, less the effect of increase Aluminum prices were up 9.4% during the fourth quarter of 2020, compared to the same quarter last year.
The gross profit margin in the fourth quarter of 2020 increased to 31.0%, compared to 29.2% in the corresponding quarter in 2019.
Operating profit in the fourth quarter of 2020 increased by 20.5% to NIS 16.2 million, compared with NIS 13.5 million in the corresponding quarter in 2019. The increase in operating profit was due to the said increase in gross profit, less the increase in operating expenses – sales and marketing and general management.
The operating profit rate in the fourth quarter of 2020 increased to 15.5%, compared to 14.7% in the corresponding quarter in 2019.
Klil’s net profit in the fourth quarter of 2020 increased by 23% to NIS 13.5 million, compared to NIS 11.0 million in the corresponding quarter last year. The increase in net income was mainly due to the double-digit growth in revenues, the aforesaid improvement in profitability, as well as an increase in financing income, net due to the increase in the value of the Company’s marketable securities portfolio, revaluation differences of foreign suppliers and forward transactions.
Main results for 2020:
Revenues in 2020 amounted to NIS 362.7 million, compared with NIS 376.6 million in 2019. The decrease in revenues was mainly due to a change in the sales mix, along with a significant effect of the corona crisis during the closure period and restrictions on economic activity during March to May 2020.
The gross profit in 2020 amounted to NIS 114.0 million, similar to 2019. The stability in the gross profit, which was maintained despite the said decrease in revenues, was mainly due to the change in the said sales mix and the decrease in aluminum prices during 2020, by 5.0% compared to 2019.
The gross profit margin in 2020 rose to 31.4%, compared to 30.3% in 2019.
The operating profit in 2020 amounted to NIS 64.4 million, similar to 2019. The operating profit rate in 2020 increased to 17.7%, compared to 17.2% in 2019.
Net financing income in 2020 amounted to a balance, compared with net financing income of NIS 3.4 million in 2019. The change in net financing income was mainly due to the decrease in income from tradable securities, due to the spread of Corona virus on capital markets in Israel and around the world.
Klil’s net profit in 2020 amounted to NIS 49.3 million, compared with NIS 53.3 million in 2019. The decrease in net profit was due to the aforementioned decrease in revenues from a change in the sales mix and restrictions on the first closure, along with a decrease in financing income The effect of falling aluminum prices and the strengthening of the shekel.
Balance sheet data for 31.12.2020:
The company has a cash balance and investments in marketable securities totaling NIS 167.3 million, compared with a balance of NIS 146.8 million at the end of 2019. The company has no financial liabilities.
Klil’s equity increased to NIS 330.4 million, which constitutes 77.3% of the total balance sheet.
Corona virus effects:
From March to May in 2020, the Corona crisis had a significant impact on the company’s sales volumes. Throughout the rest of the period in 2020 the corona crisis had no adverse material impact on the Company’s financial results.
Main events:
• From the beginning of 2021 until close to the date of publication of the reports, there was an increase in the price of aluminum traded on the LME Stock Exchange in London by about 9.2%. In addition, the shekel weakened against the dollar by 2.8%.
• In December 2020, the Company’s Board of Directors approved updating the rate of dividend distribution policy to at least 50% of annual net profit, replacing a previous dividend policy that set a distribution of at least 30% of annual net profit.
• In November 2020, the Company’s Board of Directors announced the distribution of a dividend to shareholders in the amount of NIS 18 million paid in December 2020.
• In August 2020, the company acquired approximately 12% of the share capital of the subsidiary Roll Profile for NIS 9.5 million, so that after the completion of the acquisition, the company will hold 94.7% of the capital of Roll Profile.
• In March 2020, the Company’s Board of Directors approved a plan to repurchase the Company’s shares in the amount of up to NIS 20 million. The acquisition plan ended on December 31, 2020, in which the company purchased shares for a total amount of approximately NIS 1.2 million.