2021 was good for Rami Levy: the net profit, more than NIS 200 million
The Rami Levy chain sums up the year 2021: revenues amounted to NIS 6.45 billion, net profit in 2021 increased by 20% to NIS 212 million, mainly due to improved trading conditions, logistics center efficiency, private label contribution and improved profitability in subsidiaries' operations.
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Of money
30/03/2022
Wednesday, March 30, 2022, 10:02 Updated: 10:22
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The chain of food stores, Rami Levy Sycamore Marketing, has published its financial results for 2021, which indicate revenue stability (although 2020 was characterized by increased consumption due to the eruption of the corona), an improvement in operating profitability and an increase in profits.
The reports also show that the Good Pharm chain has doubled the number of pharm branches in the past two years to 45 branches nationwide;
A significant increase in Good Pharm's sales is expected in the first quarter of 2022.
Rami Levy concludes a total of 15 years from the date of the company's issuance, during which time it distributed a dividend to its shareholders in the amount of NIS 1.25 billion.
Main results of 2021:
The company ended 2021 with stability in revenues, which amounted to NIS 6.45 billion, compared with NIS 6.47 billion in 2020.
Gross profit in 2021 increased to NIS 1.52 billion, compared to NIS 1.46 billion in 2020. The increase in gross profit was mainly due to further logistical efficiencies in Merlog, improved trading conditions, the private label and the improvement in subsidiaries' profits. These effects were reflected in improved The rate of gross profit in 2021 increased to about 23.6%, compared to about 22.57% in 2020.
Rami Levy's operating profit in 2021 increased by about 14% to about NIS 321 million, compared to about NIS 282 million in 2020. The rate of operating profit increased To 4.98%, compared to 4.36% in 2020.
Bottom line, the Rami Levy Sycamore Marketing chain concludes 2021 with a 20% increase in net profit to NIS 212 million, compared to NIS 176 million in 2020.
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Rami Levy, controlling shareholder and CEO. Summarizes not only last year, but also 15 years as a public company (Photo: Courtesy of Rami Levy)
Welcomes the entry of international retail chains into Israel
Rami Levy, CEO of the Rami Levy Sycamore Marketing chain
: "In 2021, we crossed the NIS 200 million threshold in net profit for a single year for the first time.
The increase in profits is not at the expense of the consumer but as a result of a number of actions we led, including an improvement in terms of trade with suppliers, further logistical efficiencies at Marlog
and also as a result of a sharp increase in subsidiaries including Good-Pharm, Kopix, cellular and club operations.
To adhere to the business strategy and vision from the day the chain opens: to offer the cheapest product basket to the customer not at the expense of quality and service.
The year 2021 was a milestone, we increased Good Pharm's activity with the opening of 12 new stores, continued the opening and establishment of discount branches, launched the digital wallet that will be the chain's financial arm and strengthen the chain's connection to its customers and launched Marlog in the north of the country. Levy for Business "which will start working on April 1, 2222, which allows us to expand our activities to the institutional market.
In addition, we opened an advanced robotic center in Be'er Sheva to expand the online sales arm, signed an agro-tech deal to establish agricultural farms in containers Autonomous sales We believe that these actions will contribute and bring value in the years to come.
These days, we are summarizing 15 years from the date of the IPO on the Tel Aviv Stock Exchange and during this period we showed a dramatic increase in sales from NIS 700 million to NIS 6.5 billion, we also showed a sharp increase in good business results with customers, investors and the company. Our shares amount to NIS 1.25 billion.
We are currently hearing about the possible entry of international retail brands into Israel. We believe that this entry will not harm the company but rather the opposite - it will emphasize the benefits of our chain in relation to the consumer "On this occasion, I would like to wish the Israeli public a happy Passover and thank the network's employees who work with great dedication and bring the company to its achievements over the years."
The Rami Levy Sycamore Marketing chain, managed by Rami Levy, has been operating for 45 years as a chain of discount stores in the fields of food and toiletries.
The chain operates in both the retail and wholesale sectors, and currently operates 56 supermarket branches (of which 3 are franchised).
At the same time, the company is working to expand its operations into city centers both through the opening of new municipal branches and through the acquisition of active urban chains.
The company has about 290,000 cellular subscribers as a virtual cellular operator.
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