According to FUNDER website data,
9 mutual funds hold NIS 4.58 million in Brimag shares
Below are all the funds that hold the stock
Below is a change in the holdings of the mutual funds in the Brimag share, according to FUNDER-MVF data.
● Increase in revenues and profit in the group: The company’s revenues in 2020 increased by 19% to NIS 3.48 billion
● The company completed the plowing project, months before the planned date, and the profit of the residential real estate development sector in 2020 amounted to NIS 120 million – an increase of 156% compared to the profit in 2019
● The company has become a significant player in the field of cement, which includes production, independent imports, and sales to external customers
● The company has completed the financial closure of the light rail project in Jerusalem and an order to start work on the project has been received.
● The Company’s Board of Directors has decided to distribute a dividend of NIS 70 million out of 2020 profits
An increase of approximately 22% in gross profit in 2020, which amounted to approximately NIS 139 million, compared with approximately NIS 114 million in the corresponding quarter last year
An increase of 114% in operating profit in 2020, which amounted to NIS 52 million, compared with NIS 24.3 million in the corresponding quarter.
The company presents a strong cash flow from operating activities in 2020, which amounted to approximately NIS 86 million, compared with NIS 4 million in 2019.
Pini Cohen, the company’s CEO, told FUNDER that: “We conclude the year 2020 with excellent results and a record in all operational parameters when we present this year a higher net profit than ever.
These results were achieved thanks to the effective implementation of a series of significant moves, including streamlining measures, which helped us to present the strong results despite the challenges of the period and put us well in the face of the challenges ahead.
The company’s balance sheet indicates very strong financial strength. At the beginning of the year, we launched Metro, an independent retail marketing network, and we are satisfied with the pace of progress in accordance with the work plan and with meeting our expectations at the level of establishment and operation.
Today, there are 10 branches throughout the country, and by the end of the year, the chain is expected to include more than 20 stores. The chain is expected to significantly strengthen Brimag’s affinity for the final consumer and the relationship with the manufacturers, while expanding the sales channels and strengthening the company’s brands and products, and according to the plans, it will reach 100 stores nationwide in the coming years. ”
Emphasis for 2020 results
Revenues from sales and service provision in 2020 amounted to approximately NIS 506.2 million, an increase of approximately 6.6% compared with approximately NIS 474.7 million in the corresponding period last year. In the field of household products, there was an increase of approximately NIS 30.9 million, and in the field of commercial systems, there was an increase of approximately NIS 0.6 million.
Gross profit in 2020 amounted to approximately NIS 139.2 million (approximately 27.5% of sales), an increase of approximately 22% compared with approximately NIS 113.9 million (approximately 24% of sales) in the corresponding period last year. The increase is due to the field of household products, mainly due to a change in the mix of products sold, an increase in the volume of inventory that has led to a decrease in storage expenses. In addition, the company has made a selective price increase as part of tackling the spread of the corona virus.
Selling expenses in 2020 amounted to NIS 62.1 million, compared with NIS 64.4 million in the corresponding quarter. A decrease in the amount of NIS 2.3 million, mainly due to a decrease in NIS costs in the amount of NIS 1.8 million, a decrease in sales commissions in the amount of NIS 0.8 million and, conversely, an increase in advertising expenses and net sales in the amount of NIS -0.9 million NIS.
Management expenses in 2020 amounted to NIS 25.3 million, compared with NIS 26.1 million in the corresponding quarter last year.
Operating profit in 2020 amounted to approximately NIS 52.1 million (approximately 10.3% of sales) compared with approximately NIS 24.3 million (approximately 5.1% of sales) in the corresponding period last year. An increase of about 114%.
Net financing expenses in 2020 amounted to NIS 8.8 million, compared with NIS 6.7 million in the corresponding period last year. During the reporting period, there was a decrease in revenues from natural hedging transactions in the amount of NIS 1.8 million compared with the corresponding period last year.
Net profit in 2020 amounted to approximately 39, compared with approximately NIS 14.6 million in the corresponding period. An increase of approximately 168%.
The Company’s shareholders’ equity as of December 31, 2020 amounted to approximately NIS 223.6 million, compared with NIS 186.3 million as of December 31, 2019. The change in shareholders’ equity is due to the total profit for the period in the amount of approximately NIS 37.3 million.
Cash flow from operating activities in 2020 amounted to NIS 86 million, compared with cash flow from operating activities in the corresponding period, which amounted to NIS 4.2 million.
The DELONGHI, BRAUN, BEKO, KENWOOD and LG brands (which account for over 80% of the company’s buying and selling turnover) have no book value.
Highlights for the results of the fourth quarter of 2020
Revenues from sales and service provision in the fourth quarter of 2020 increased by approximately 25%, amounting to approximately NIS 145.1 million, compared with approximately NIS 115.9 million in the corresponding period last year.
Gross profit in the fourth quarter amounted to NIS 44.6 million (approximately 30.7% of sales), an increase of approximately 59% compared with approximately NIS 28 million (approximately 24.2% of sales) in the corresponding period last year.
Operating profit for the quarter amounted to approximately NIS 20.1 million (approximately 13.8% of sales) compared with approximately NIS 6.3 million (approximately 5.4% of sales) in the corresponding period last year, an increase of approximately 219%.
Net financing expenses in the quarter amounted to NIS 3.4 million, compared with NIS 2 million in the corresponding quarter last year.
Net profit for the quarter amounted to NIS 15.4 million, compared with NIS 3.9 million in the corresponding period last year, an increase of 291%.