The Corona may have lowered its profile but meanwhile refuses to run out, and with it the company’s business success Ilex Medical Which markets tests and medical equipment and also operates a PCR testing laboratory.
Ilex concludes 2021 with revenues of about NIS 1 billion, an increase of 12% compared to the previous year and a net profit of NIS 197 million – an increase of about 64% compared to 2020 and more than 3 times the profit recorded by Ilex in 2019, before breaking out Corona plague.
Ilex Medical shares, which jumped 150% from the beginning of the Corona crisis to a peak in January 2022, fell further, both due to declines in the markets and due to market estimates that the Omicron strain is fading and antigen testing will reduce the importance of PCR.
But in recent days, the coefficient of infection has begun to rise again in Israel and around the world, and experts are talking about the possibility of another wave. Bad news for humanity, but good for Ilex, which is currently traded at a value of NIS 1.5 billion, after a drop of about 20% from the peak. The controlling owner of the company is the chairman, Dr. Moshe Ben Shaul.
The field of diagnostics now constitutes 66% of Ilex’s revenues and the field of medical equipment (under the subsidiary Medtechnica) constitutes 32%. This is after a number of years in which diagnostics and medical technology contributed about half of the revenues each. Corona outbreak.
The field of testing contributes to high profitability
Corona’s activity had a positive effect on Ilex’s profitability, with a gross profit margin of 35.8% compared to 28.6% in 2020. Operating profit in 2012 increased by 71%, to about NIS 250 million. Following the strong results, Ilex will distribute a dividend of NIS 60 million next month.
Despite a decrease in revenues in the fourth quarter, which stood at NIS 255 million, Ilex’s operating profit increased by 77% in the quarter compared to the corresponding period, evidence of the high profitability of the testing field. Net profit for the quarter increased to 42% and amounted to NIS 43 million.
Ilex has NIS 282 million in cash. In 2021, Ilex made investments in KadimaStem, Starget Pharma and scopio, totaling $ 28 million. Tami Galili, CEO of Ilex and the controlling shareholder’s daughter, said: “The year 2021 is a record year in activity during which we realized the many opportunities in the market against the background of the Corona epidemic. During the year, we invested in the development of new growth engines in a variety of areas and invested in innovative start-ups and the company’s core infrastructure, moves that we believe will bear fruit in the future. “