Strauss Group Announces Fourth Quarter And Fiscal Year 2012 Results, Posting Strong Performance In Sales And EBIT, Primarily Driven By International Coffee And International Dips And Spreads
TEL AVIV, Israel, March 20, 2013 /PRNewswire/ --
The Group's sales in 2012 and its non-GAAP EBIT totaled a record NIS 8.2 billion and NIS 625 million, respectively - 6.3% sales growth and 9.2% growth in non-GAAP EBIT.
The Group's sales and EBIT hit a record fourth quarter high as sales in the fourth quarter totaled NIS 2.1 billion and non-GAAP EBIT, NIS 157 million.
Ofra Strauss, Chairperson of the Strauss Group, said today ( March 20, 201 3 ): "Strauss Group has concluded a year of growth in all segments, particularly in two key international growth drivers - the coffee company and the international dips and spreads operation. The strong results in 2012 reflect the diverse capabilities of the Group, which operates in different regions and manages a broad business portfolio in the food industry based on a long-term strategy designed to create value for all stakeholders of the Group."Gadi Lesin, President and Chief Executive Officer of the Strauss Group, said today: "The Group's strong performance in the past year is the outcome of long-term processes executed outside Israel in the last decade in the international coffee segment and in the international dips and spreads operation, whose sales in the past year grew by 35%. The Group continues to realize its global growth and expansion strategy while continuing to invest in its home base in Israel. The Israeli market continues to pose a challenge, and accordingly, we have persevered with innovation and the delivery of value to the consumer while executing dozens of internal streamlining processes." Key data on 2012 and as at December 31, 2012 
- Sales totaled NIS 8.2 billion ( NIS 7.7 billion last year), an increase of 6.3%; organic sales excluding the effect of changes in exchange rates grew by 7.1%.
- Non-GAAP gross profit totaled NIS 2.9 billion (35.1% of sales) compared to NIS 2.7 billion last year (35.1% of sales), an increase of 6.1%.
- Non-GAAP operating profit (EBIT) totaled NIS 625 million (7.6% of sales) compared to NIS 572 million last year (7.4% of sales), an increase of 9.2%.
- Non-GAAP net income attributable to the Company's shareholders totaled NIS 238 million (2.9% of sales) compared to NIS 237 million last year (3.1% of sales), an increase of 0.5%.
- Cash flows from operating activities totaled NIS 663 million compared to NIS 298 million last year.
- The net debt as at December 31, 2012 totaled NIS 1,422 million, compared to NIS 1,476 million on December 31, 2011.
- Sales totaled NIS 2.1 billion ( NIS 2.1 billion last year), an increase of 1.6%; organic sales excluding the effect of changes in exchange rates grew by 3.6%.
- Non-GAAP gross profit totaled NIS 738 million (35.1% of sales) compared to NIS 688 million last year (33.3% of sales), an increase of 7.1%.
- Non-GAAP operating profit (EBIT) totaled NIS 157 million (7.5% of sales) compared to NIS 154 million last year (7.5% of sales), an increase of 1.8%.
- Non-GAAP net income attributable to the Company's shareholders totaled NIS 68 million (3.2% of sales) in the fourth quarter, compared to NIS 67 million last year (3.2% of sales), an increase of 2.0%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV