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FOX record: NIS 1 billion in revenue for the quarter

The FOX Group presents excellent reports indicating an increase in revenues and net profit, which stood at close to NIS 115 million during the quarter.

The company announced a change in the dividend distribution policy to shareholders.

Wiesel: "We continue to implement further moves for continued growth"

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• Harel Wiesel

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Tuesday, 24 August 2021, 11:27 Updated: 11:47

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The Fox Group, controlled by Harel Wiesel, publishes the second quarter reports for 2021, which show record profits for the group, which generated almost NIS 1 billion in this quarter.

The Group's revenues in the second quarter of 2021 (from the sectoral report based on 100% of activity and before adjustments) amounted to NIS 995.9 million, an increase of 57.3% compared to the corresponding period last year.

Data for identical store sales (during periods when stores were open Excluding the closure periods, in 2021, compared with the same period in 2019, the fashion and home fashion sector increased by 1.0%, the atmosphere and grooming sector by 8.3% and the sports sector by 20.5%.

Gross profit in the second quarter of 2021 amounted to 623.1 million NIS, which constitutes approximately 62.6% of sales compared with a gross profit of NIS 384.2 million, which constitutes approximately 60.7% of sales in the corresponding period last year, an increase of approximately NIS 238.9 million.

The improvement in gross profit was due to a decrease in purchasing costs due to the weakening of the average exchange rate of the dollar against the shekel, a mix of sales offset by an increase in shipping costs.

Operating profit in the second quarter of 2021 amounted to NIS 172.8 million and constitutes approximately 17.4% of sales, compared with operating profit of NIS 126.3 million last year, which accounted for 19.9% ​​of sales.

The operating profit in the second quarter of 2021, excluding the IFRS 16 standard, amounted to NIS 160.4 million, and constitutes approximately 16.1% of sales. Compared with operating profit excluding IFRS 16 in the amount of NIS 118.3 million, which constitutes approximately 18.7% of sales in the corresponding period last year, an increase of approximately NIS 42.2 million.

It should be noted that the increase in operating profit in the second quarter is despite the fact that the quarter last year was affected by a strong increase in sales after the first closure, in addition to a large reduction in main operating expenses during and after the closure.

The net profit in the second quarter of 2021 amounted to NIS 114.7 million, compared with a net profit of NIS 90.1 million last year.

The net profit in the second quarter of 2021, excluding the IFRS 16 standard, amounted to NIS 115.1 million, and constitutes approximately 11.6% of sales.

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Fox Network Store.

48% increase in the team's sports sector (Photo: Creative Commons)

The second half and the change in the dividend distribution

Results of the first

half

of 2021, in the Fox Group: The

Group's revenues in the first half of 2021 (from the sectoral report based on 100% of activity and before adjustments) amounted to NIS 1,837.2 million, an increase of 37.6% compared to the corresponding period last year.

Data on identical store sales (during periods when stores were fully open) excluding closing periods increased in 2021 compared to the same period in 2019 in the fashion and home fashion sector by 27.8%, the atmosphere and grooming sector by 29.9% and in the sports sector by 48.0%.

Gross profit in the first half of 2021 amounted to NIS 1,040.6 million, which constitutes approximately 58.6% of sales, compared with gross profit of NIS 688.1 million, which constitutes approximately 56.7% of sales in the corresponding period last year, an increase of approximately NIS 352.5 million.

Operating profit in the first half of 2021 amounted to NIS 237.8 million and constitutes 13.4% of sales, compared with operating profit of NIS 110.4 million last year, which accounted for 9.1% of sales.

Operating profit in the first half of 2021, excluding IFRS 16, amounted to NIS 217.7 million, and constitutes approximately 12.3% of sales. Compared with operating profit excluding IFRS 16 in the amount of NIS 86.1 million, which constitutes approximately 7.1% of sales in the corresponding period last year, an increase of approximately NIS 131.6 million.

The net profit in the first half of 2021 amounted to NIS 156.3 million, compared with a net profit last year of NIS 52.6 million. The net profit in the first quarter of 2021, net of revaluation, amounted to NIS 174.6 million.

The net profit in the first half of 2021, excluding the IFRS 16 standard and excluding accounting revaluation, amounted to approximately NIS 173.6 million, and constitutes approximately 9.8% of sales.

Compared to the net profit last year, neutralizing the 16IFRS standard, it amounted to NIS 46.8 million, an increase of NIS 126.8 million.

Fox has announced a change in dividend distribution policy: a distribution of at least 75% of annual net profit.

In addition, the company announced a dividend of approximately NIS 154.3 million, which constitutes 100% of the net profit of the first half of 2021 attributed to the shareholders (excluding revaluations).

Harel Wiesel.

FOX Group not only survived the corona, but also strengthened compared to 2019 data (Photo: Dima Tliansky)

"We will continue this way"

Harel Wiesel: "A group of Fox completed another strong quarter, with continued growth in revenues and profits in all sectors of activity. Second quarter of the year has passed without closure, in contrast to the corresponding quarter in 2020.

Recently, we completed two successful issues during a short period of subsidiaries Ritiilors and Terminal X by which we have included strategic investors, while continuing to implement additional steps for further growth. we work with Hot Mobile for the establishment of a unique concept of a chain of stores in the cellular and multimedia under the brand red.

In addition, we signed an agreement in principle to open a chain of stores Flying Tiger Israel, while we continue to vigorously promote the "The establishment of jumbo stores in Israel, along with the continued examination and realization of new business opportunities. In this way, we will continue to bring unique added value to investors and customers."

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