Isaac Debach (Facebook photo / Delta Galil Industries)
It appears that the fourth quarter of 2021 was a record quarter for Delta Galilee. The company ended the quarter with sales of $ 578 million which is an increase of 26% compared to $ 459.7 million in the same quarter last year. Operating income in the fourth quarter increased 49% to a record $ 64.7 million, compared to $ 43.4 million in the same quarter last year.
Net income in the fourth quarter increased 92% to a record $ 45.5 million, compared to $ 23.7 million in the same quarter last year. EBITDA excluding IFRS 16 increased in the fourth quarter to a peak of $ 75 million, compared to $ 55.6 million in the corresponding quarter last year.
Earnings per share increased in the fourth quarter to a high of $ 1.60 compared to $ 1.08 in the same quarter last year. Strong cash flow from operating activities, neutralizing the effect of IFRS 16 and loss from early redemption of bonds in the amount of $ 121 million and capital in the amount of $ 649.2 million as of December 31, 2021.
Financial debt to the end of 2021 fell to its lowest level since the end of 2015 and amounted to $ 95.2 million compared to $ 236.3 million on December 31, 2020. The company announced a dividend of approximately $ 10 million or 39 cents per share.
Sales in 2021 totaled $ 1.951 billion, an increase of 35% compared to $ 1.446 billion in the same period last year. The company has changed its operating segments in a way that better reflects and fits its strategic focus. The new sectors – brands, private labels, Delta Israel, Seven For All Mankind and the online trading arena – have all contributed to the increase in sales. The growth in sales is also reflected in all the geographical areas and sales channels.
In the field of online sales on the company’s sites, in the fourth quarter of 2021 increased by 149% and amounted to $ 66.9 million, compared to 26.9 in the fourth quarter of 2019 but decreased by 12% compared to the fourth quarter of 2020. E-commerce sales on the company’s sites in 2021 Increased by 282% and amounted to $ 253.6 million, compared to $ 66.3 million in 2019 and grew by 66% compared to $ 152.5 million in 2020.
Isaac Debach, CEO of Delta Galil said in publishing the financial statements that: “We are pleased with the strong results for 2021 and start 2022 with positive momentum when our business situation is strong and stable and reflects successful execution of our growth strategy.
“Throughout the year, we continued to present strong and consistent sales and profit data, which was reflected in the fourth consecutive quarter of record revenue, and the sixth consecutive quarter of record operating profit. We conclude the year with strong growth in all sales channels, territories and sectors “We will continue in 2022 as reflected in our latest forecast. With strong foundations we have built and a focus on our growth engines, we will continue to invest in developing our technological capabilities, and in the production and distribution infrastructure to support the growth trend we are experiencing.”
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