According to FUNDER website data,
45 mutual funds hold Mehadrin shares in the amount of NIS 20.22 million
Funds that hold significant holdings in the stock – for the full list of holdings
The following is a change in the holdings of mutual funds in Mehadrin shares according to FUNDER-MVF data
The company has updated its business strategy and is preparing to increase its international activity through crops from new and additional agricultural sources on the Israeli fruit.
Mehadrin, the agricultural processing corporation and the largest exporter of fruit in Israel, publishes its financial statements for 2020.
Revenues in 2020 amounted to NIS 1.175 billion – a decrease of 9% compared to revenues of NIS 1.288 billion in 2019. Average appreciation of the shekel in 2020 compared to the corresponding period of about 2% against the euro, about 3% against the dollar and the pound. And about 10% against the Norwegian crown led to a decrease in revenues of about NIS 25 million.
The decrease in income is attributed to the decrease in the field of agricultural activity, while the rest of the group’s activities remained stable.
Revenues from the export of the light variety, Mehadrin’s main export variety, increased by 7%, which is about NIS 15 million, thanks to an increase of about 23% in the price. At the same time, the sales volumes of avocados were about 13% lower than those in 2019 and led to a decrease in export revenues of about 15%, a decrease of NIS 63 million compared to the corresponding period.
Significant improvement in gross profit and EBITDA
An improvement of NIS 35 million in Mehadrin’s gross profit in 2020 to NIS 40.6 million.
The gross profit of the agricultural sector moved to a profit of NIS 24.5 million in 2020, compared with a gross loss of NIS 18.6 million in 2019, following a significantly lower fruit depreciation compared to the corresponding period last year, estimated at NIS 21 million. In 2019, the company recorded other income in the amount of NIS 31 million in respect of the sale of a property in Gederot that generated a capital gain for the company.
EBITDA, excluding the sale of real estate, in 2020 amounted to NIS 70 million – an increase of 77% compared to EBITDA of NIS 39.5 million in the corresponding period.
The net profit in 2020 amounted to NIS 3 million.
Cash flow from operating activities in 2020 amounted to NIS 21.7 million.
The company’s total capital, as of the end of 2020, amounted to NIS 557.2 million.
New business strategy
In 2020, the Company conducted a re-examination of its strategic plan in accordance with developments in the markets along the entire value chain in which the Company operates. In accordance with the updated business strategy, Mehadrin intends to exhaust the entire amount of Israeli fruit it can sell, while increasing its international activity in the fruit from other sources. The increase in activity is expected to be done both in the fruit trade and as a grower abroad.
The company intends to focus on increasing quantities from the southern hemisphere in order to expand the time windows in which it markets to its customers. Mehadrin will thus be able to serve more customers, on a larger scale, and at a higher level of service and will be prepared for crops that are expected to come from its new agricultural sources.
The 2019/2020 fruit season
The 19/20 season was characterized by average yields in the group’s orchards and orchards, with a total volume of about 187,000 tons of fruit, a total of 166,000 tons of citrus, of which about 48,000 tons of light and 13,000 tons of avocados.
According to data from the beginning of the fruit season 2020/2021, the company estimates that this season citrus prices will remain the same, in avocados there will be an increase and in dates there will be a slight decrease in the price.