“Schufersall” reported today on the financial results of the first quarter of 2022 | News

Operating profit for the quarter was 102 million masterpiecesaccounting for approximately 2.9% of the Group’s revenue, and net income was approximately 27 million masterpieceswhich is about 0.8% of total revenue

Revenues of the Be network grew by about 25% compared to the same quarter last year. They amounted to approximately 269 ​​million masterpieces in the first quarter compared to approx 216 million masterpieces in the corresponding quarter of last year

Tel Aviv, Israel, May 31, 2022 / PRNewswire / – Schufersal (TASE: SAE), Israel leading retailer today announced financial results for the first quarter of 2022.

Group income in the first quarter was approx 3.4 billion masterpieces compared to 3.8 billion masterpieces last year.

The group’s revenue in the first quarter was 3.5 billion masterpieces compared to 3.8 billion masterpieces last year. The decrease of about 7% is mainly due to the fact that the first quarter of last year was characterized by closing, which significantly affected the Group’s revenues, as well as due to late Easter this year and days of preparation for it, which were mainly concentrated in the second quarter.

Gross profit in the first quarter amounted to 925 million masterpieceswhich is about 26.4% of revenue compared to approx 1 billion masterpieces in the corresponding quarter last year, which accounted for about 27.0% of revenue. The decrease in total gross profit was mainly due to a decrease in the Group’s revenue. The level of gross profit from total revenue is about 26.4% against about 27.0% in the corresponding quarter last year, due to rising operating costs.

Profit from operating activities in the first quarter was approx 102 million masterpieces which is approximately 2.9% of the Group’s revenue compared to approximately 198 million masterpieceswhich accounted for approximately 5.3% of the Group’s revenue in the corresponding quarter last year.

Net income in the first quarter was approx 27 million masterpieceswhich is about 0.8% of revenue compared to approx 114 million masterpieceswhich accounted for about 3.0% of revenue in the corresponding quarter last year.

EBITDA for the quarter amounted to approx 316 million masterpiecescompared to approx 397 million masterpieces in the corresponding period last year and is about 9.0% of the group’s total revenue compared to about 10.5% in the corresponding quarter last year. The decline is mainly due to a decrease in operating profit.

Sales in the same branches in the Group decreased by about 8.4% compared to the corresponding quarter of last year mainly due to the weakening effect of the coronavirus and the closing effect in the first quarter of last year, as well as the time of Easter.

Grid Be continues to improve its results in line with the company’s work plans. Be network revenues in the first quarter amounted to 269 ​​million masterpieces compared to 216 million masterpieces in the corresponding quarter of last year, an increase of 25%.

The operating profit of the Be network in the first quarter of 2022 was approximately 1 million masterpiecessimilar to the corresponding quarter last year.

Shufersal Online Sales in the first quarter accounted for about 21.8% of total retail sales compared to about 22.4% in the corresponding quarter last year. The decline in the share of online sales in the company’s total sales is mainly due to the fact that online sales in the first quarter of last year were particularly significant in light of peak demand as a result of the closure.

Share of private label sales in the first quarter accounted for about 27.6% of total food retail sales compared to about 27.4% in the corresponding quarter last year, an increase of about 0.2% compared to the corresponding quarter last year.

Ran Gottfried, Chairman of the Board of Shufersal and Ofer BlochShufersal Group CEO said today: “In the first quarter, the trend of exiting the coronavirus closure period that characterized the previous year continued. The company’s sales, which declined in the quarter as well as Easter time, are a direct result of a return to routine in Israel and worldwide. In particular, there is a return to routine among the general Israeli public, which has resumed flights abroad, which significantly affects the comparison between quarters.

The company continues to strengthen its core business in affiliate networks and advance its growth strategy including online operations, Be network, Shufersal Business activities, Shufersal Finance, Client Club, Private Label and more. With their help, the company improves its value offerings for the Israeli consumer, while promoting innovation and differentiation in the market in which it operates.

The company is preparing as part of a return to routine, while conducting operational training and optimization of processes that will return to the profitability indicators that were characteristic of previous quarters.

For more information, please contact:

ir@shufersal.co.il

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