Shmulik Wolodinger, Chairman of Rebel: “We end 2020 with a record quarter in revenue, EBITDA and net income, against the backdrop of the global car market recovery following the slowdown recorded earlier this year following the Corona epidemic. The wide geographical spread of the group’s activity proved itself this year, and China, The group’s largest, we ended the year with an increase in sales compared to 2019, despite the corona.
The company’s peak profits in the fourth quarter are due, among other things, to an improvement in profitability rates throughout 2020, a result of moves we made at the company that aimed to adjust the scope of the company’s activity to the changing situation in the automotive market. The cash flow and low level of debt allow us to distribute a dividend to shareholders in the amount of the full profit in 2020. “
Full financial results for the fourth quarter and 2020:
Revel’s revenue in the fourth quarter peaked at around € 71 million, an increase of 15% over revenue in the third quarter of 2020, and growth of 3% over revenue in the fourth quarter of 2019.
In all of 2020, Rebel’s revenues totaled about € 240 million, compared to Revenue’s revenues
About 268 million euros in 2019.
Gross profit in the fourth quarter amounted to EUR 22.7 million, an increase of 44% compared to the gross profit in the third quarter of 2020 which amounted to EUR 15.7 million, and an increase of 17% compared to the gross profit in the fourth quarter of 2019, which amounted to EUR 19.4 million .
For the whole of 2020, Rebel’s gross profit amounted to € 61.2 million, compared to a gross profit of € 64.8 million in 2019.
EBITDA in the fourth quarter of 2020 reached a peak of approximately 18.9 million euros (approximately 26.5% of total revenues), an increase of 60% compared to EBITDA of approximately 11.8 million euros (approximately 19.2% of total revenues) in the third quarter of 2020 The increase in EBITDA compared to the fourth quarter of 2019, in which EBITDA amounted to approximately EUR 15.6 million (approximately 22.5% of total revenues), is estimated at approximately 21%.
In all of 2020, Rebel’s EBITDA amounted to approximately EUR 47.5 million (approximately 19.8% of total revenues), compared to EBITDA of EUR 50 million (approximately 18.6% of total revenues) in 2019.
Net income for the fourth quarter amounted to EUR 8.6 million, an increase of 87% compared to net income for the third quarter of 2020 which amounted to EUR 4.6 million, and an increase of 26% compared to net income for the fourth quarter of 2019, where net income amounted to 6.8 million Euro.
In the whole of 2020, Revel earned 17.3 million euros, similar to the net profit in 2019, in which the company’s net profit amounted to 17.8 million euros.