Aberhahn's farewell gift: Good reports for Shufersal - Walla! Of money

2022-03-22T11:30:16.433Z

The Shufersal chain, the largest food retailer in Israel, increased its power even further in 2021: Shufersal Online accounts for 20.5% of sales. Improvement also in the results of the Pharm Be network

Aberhahn's farewell gift: good reports for Shufersal

The Shufersal chain, the largest food retailer in Israel, increased its power even further in 2021: Shufersal Online accounts for 20.5% of sales.

Improvement also in the results of the Pharm Be network.

Despite the excellent results, there was a decrease in the fourth quarter, which Shufersal attributes to reducing the effects of corona on food consumption.

Walla!

Of money

22/03/2022

Tuesday, 22 March 2022, 12:47 Updated: 13:19

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The Shufersal Group reports today on the financial results of 2021 and the fourth quarter of this year: the group continues to present excellent business results, which express itself as being the largest factor in the retail market in Israel.

Operating profit in 2021 increased to NIS 726 million and its share of revenues amounted to 4.9%, compared with 4.7% in 2020.

Shufersal Online's sales in 2021 amounted to NIS 2.8 billion, constituting approximately 20.5% of all food retail sales, compared with approx. 20.3% in 2020

The Be network continues to improve its results in accordance with work plans and shows an increase in all parameters.

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Shufersal campaign starring the editor of Israel Today (formerly 9 Boaz Bismuth. It will be reflected in the results of 2022 (Photo: screenshot, screenshot)

The main points of the report

The Group's revenues in 2021 amounted to NIS 14.8 billion, compared with NIS 15.2 billion in 2020, which is a decrease of 3.1%, mainly attributed to the weakening effect of the corona crisis in the food retail sector and the return of the economy to routine.

The Group's revenues in the fourth quarter of 2021 amounted to NIS 3.6 billion, a decrease of 6.7% compared to the corresponding quarter which was a record quarter in 2020. The decrease was mainly due to the food retail sector which was affected by the weakening Corona crisis and the economy returning to normal.

-Sales in the same branches (food retail: floor sales and online) decreased by 5.6% in 2021 and by 9.5% in the fourth quarter compared to the same periods in 2020. The decrease is mainly attributed to the weakening effect of the corona crisis in the food retail sector and the economy returning to normal.

Gross profit in 2021 amounted to NIS 4.021 million, which constitutes approximately 27.2% of total revenues, compared with NIS 4.043 million last year, which constituted approximately 26.5% of total revenues. In

the fourth quarter, gross profit amounted to NIS 974 million, compared with NIS 1,047 million in 2020, which constitutes approximately 27.0% of total revenues, similar to the gross profit ratio of total revenues in the fourth quarter last year.

- Operating profit in 2021 amounted to NIS 726 million , Which constitute approximately 4.9% of total revenues, compared with approximately NIS 718 million, which constituted approximately 4.7% of revenues in 2020.

Operating profit in the fourth quarter of 2021 amounted to approximately NIS 159 million, constituting approximately 4.4% of revenue, compared with approximately NIS 202 million. Shekel in the fourth quarter of 2020, which accounted for about 5.2% of revenue turnover.

- Operating profit after other revenues in 2021 amounted to NIS 779 million, at a rate of 5.3% of revenues, compared to NIS 745 million at a rate of 4.9% of revenues in 2020.

Net income in 2021 increased by 2% and amounted to

NIS 393 million, which constitutes 2.7% of revenues, compared with NIS 387 million, which constituted 2.5% of revenues in 2020.

Net income in the fourth quarter of 2021 amounted to NIS 100 million, which is a decrease of 17% compared to profit Net of NIS 120 million in the corresponding quarter in 2020. The decrease is mainly due to an increase in financing expenses and investment in PayBox operations.

EBITDA in 2021 amounted to NIS 1.559 million, which constitutes approximately 10.6% of the company's total revenue, compared with approximately NIS 1.514 million in 2020, which constituted approximately 9.9% of the company's total revenue.

The increase was mainly due to an increase in operating profit.

EBITDA in the fourth quarter of 2021 amounted to NIS 375 million, which constitutes approximately 10.4% of the company's total revenues, compared with NIS 411 million, which constituted approximately 10.6% of the company's revenues in the corresponding quarter in 2020.

Private label sales in 2021 amounted to approximately 3.8 NIS 1 billion, which constitutes a share of approximately 26.6% of total food retail sales, compared with approximately NIS 3.9 billion, which constitutes a share of approximately 25.8% of total food retail sales in 2020.

Shufersal Online's sales amounted to approximately NIS 2.8 billion in 2021 and constitute About 20.5% of all food retail sales, compared to about 20.3% in 2020.

The Be chain continues to significantly improve its results in 2021: Revenues amounted to about NIS 966 million compared to about NIS 815 million in 2020 - an increase of about 18.5% .

- The Be chain's revenues in the fourth quarter of 2021 amounted to NIS 256 million, compared with NIS 206 million in 2020, an increase of 24.3%, mainly due to the opening of new branches, an increase in online activity, an increase in same-store sales and new corona testing activities.

Sales in the same branches in the Be chain in 2021 increased by about 10.6% compared to 2020.

- The operating profit of the Be chain amounted to NIS 9 million in 2021, compared to an operating loss of NIS 19 million in the previous year. From

the increase in revenues, from operational efficiencies and the deepening of the operational synergy with the

company.- The operating profit of the Be chain in the fourth quarter of 2021 amounted to NIS 3 million, compared with an operating balance in the corresponding quarter last year.

Yaki Vadmani, Chairman of the Board of Shufersal. The largest retail chain in Israel (Photo: Maya Kopel)

Yaki and Damani, Chairman of the Board of Shufersal and Itzik Aberkhan, CEO of Shufersal, who

will retire at the end of the month and be replaced by Ofer Bloch, said today:

"The Shufersal Group concludes 2021 and the fourth quarter of this year, with results reflecting Israeli, while maintaining business results that are the result of implementing the company's multi-year strategy, which enables the company to position itself as the largest retail group in Israel, leading this field while entering new areas, in addition to the core areas in which it has been operating for many years. It was largely characterized by the exit of the State of Israel from the closure period of the Corona that characterized the year before it, and yet the company managed to reach results similar to last year's record results.

The company's sales that decreased during the year are a direct result of a return to routine most days of the year, compared to the three closures that characterized 2020. Given the characteristics of 2020, the group's profitable results during 2021 are impressive results expressing trust and loyalty from the company's customers.

The company continues to strengthen its corestones in its growth strategy, including online operations, the Be network, Shufersal Business, Shufersal Financial, the customer club, the private label and more.

Through them, the company works to improve its value propositions to the Israeli consumer while promoting innovation and differentiation in the market in which it operates.

The company continues its activities to promote innovation in its fields of endeavor, including new products and services, digital assets, experience in the physical branches, the supply chain and customer service.

At the same time, the company is working to promote operational efficiency and cost savings.

We believe that thanks to the high-quality and professional human capital in the Shufersal Group, thanks to the experience and knowledge, technological and logistical infrastructure and thanks to the innovation and excellence that characterize Shufersal - we will be able to respond to changes and developments and continue to lead the company to success and prosperity.

Itzik Aberkhan, the outgoing CEO of Shufersal. Leaves a strong network for his successor (Photo: Reuven Castro, Ruby Castro)