Thanks to Corona: Rami Levy for record results – the capital market

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Rami Levi
+ 0.33%

Base:20,900

opening:20,900

High:20,970

low:20,830

change:1,493,729

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Rehabilitation Marketing concludes the fourth quarter and 2020 with a record in revenue and profits. Revenue in the fourth quarter Grew by about 13% to about NIS 1.65 billion, compared to about NIS 1.5 billion in the corresponding quarter in 2019 (excluding 3 branches that are under franchise). Revenue growth was mainly due to An increase in the revenue of identical stores At a rate of about 10.4%, along with the opening of a new branch in Kiryat Gat. Net sales for the quarter per square meter Increased by 11% to NIS 15.9 thousand per square meter, compared with NIS 14.4 thousand per square meter in the corresponding quarter in 2019.

Revenue in 2020 Grew by about 9% to about NIS 6.47 billion – an addition of about half a billion shekels to revenues compared to last year – thanks to a 6.3% increase in the revenue of identical stores and the opening of 3 new branches. Revenues do not include the revenue of the franchised stores, the company’s revenue including the franchised stores is NIS 6.8 billion. Net profit in 2020 Jumped by 59% to NIS 176 million following the improvement in terms of trade, the efficiency of the logistics center and an increase in private label sales.

Bottom line, net income in the fourth quarter of 2020 Increased by about 100% to NIS 62.7 million, compared to NIS 31 million in the corresponding quarter in 2019. The increase in net profit was due to the high growth in the company’s revenues, along with the significant improvement in profitability rates. EBITDA in the fourth quarter Increased by approximately 29% to approximately NIS 152 million (approximately 9.2% of revenues), compared with approximately NIS 118 million (approximately 8.1% of revenues) in the corresponding quarter in 2019.

In the fourth quarter, Cash flow from operating activities doubled To NIS 114 million, compared with NIS 58 million in the corresponding quarter in 2019. The increase in cash flow from operating activities was due to the said increase in net profit, along with changes in working capital.

Rami Levy, CEO of the Rami Levy Sycamore Marketing chain: “I am proud to sum up 2020, which was a challenging market year due to the Korna crisis, with strong financial results, as reflected in high revenue growth, a sharp increase in profits and an improvement in all operational parameters in which we are measured. In 2020 consumption habits changed rapidly, the public was shaken. And we have all learned to reinvent ourselves in the challenging reality.We have built a strong brand and we continue to establish it with a face to the future.

Our Kadima plan is based on several cornerstones and will include the opening of additional discount branches in new locations, the opening of “Rami Levy in the neighborhood” branches, entry into the institutional market with the launch of “Rami Levy for Business” activation, thickening of the online network Expanding the activities of the Good Pharm chain with the opening of dozens of additional branches over the coming years, the expansion of our customer club, the launch of a digital wallet that will form the chain’s financial arm, and more. ”