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Even before the reform: smoking more and eating more snacks - voila! Of money

2023-03-28T09:12:41.247Z


Maybe it was the cost of living that started to climb, maybe the elections that took place in November and maybe other reasons that led us to smoke more and consume more snacks. The reports of the major importer


More cigarettes, more snacks.

Stress, nerves or another reason? (Photo: ShutterStock)

In 2022, Israelis spent more on cigarettes and snacks, and those around smokers are trying to guess what led to the sharp increase, apart from the increased cost of living.



Globrands Group, for example, one of the largest importers, distributors and sellers of smoking products in Israel, reported approximately NIS 596 million in revenue, excluding tax on smoking products, representing an increase of approximately 8.5% over its revenue in the corresponding period last year, which was approximately NIS 549 million .



In practice, the company brought in about NIS 2.9 billion in revenue, but about NIS 2.3 billion of that, as mentioned, went to the state coffers as a direct tax on cigarettes and smoking products, compared to about NIS 2.2 billion that went to the state coffers a year earlier.



Glovebrands activities in the field of cigarettes include the distribution of brands such as Camel, Vogue, Winston, Kent, etc., to the various supermarket chains, containers and kiosks, as part of the company's import agreements with the tobacco giants 'British American Tobacco' and 'Japan Tobacco'.



The smoking products sector generated approximately 74.4% of all Globrands revenues, which is traded on the Tel Aviv Stock Exchange with a value of approximately NIS 480 million, and constituted the lion's share of them.

The rest of the company's income stemmed from its additional activity as a distributor of sweets and snacks, in which it also reported a sharp increase.



The activity of distributing snacks and sweets brought in about NIS 87 million to Globrands coffers in 2022, which is an increase of about 28.1% compared to its income from this activity in the corresponding period in 2021. Although the company does not have any exclusivity agreements



with the importers and local manufacturers of the snack and chocolate brands it distributes, it has begun in the marketing and distribution of various protein bars since last May, when it acquired control (51%) in the Pharm Express company, alongside the 'SalSol' bars which it imports exclusively from Spain.



The jump in revenues, however, was not able to bridge the increase in wages and the expenses of transportation and distribution vehicles, which led the company to an operating profit of NIS 94.5 million for the reporting year, representing a decrease of approximately 3.5% compared to approximately NIS 98 million in 2021. The profit also The total decreased to approximately NIS 68.8 million compared to NIS 72.7 million in the corresponding period last year.

  • Of money

  • our money

Tags

  • cigarettes

  • smoking

  • snacks

  • Energy bars

Source: walla

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