Diplomat ended 2021 with revenues of NIS 2.74 billion, an increase of 1% compared to its revenues in 2020. Its operating line indicated a 6% improvement in profit, which reached NIS 128 million, and the bottom line was a 32% increase in net profit. Which stood at about NIS 85 million last year. This is due to a sharp decline in its financing expenses.
Diplomat is engaged in the import, marketing and distribution of consumer products in Israel and abroad, and divides its activities into five geographical areas – the main one is the local market, where it sells and distributes products to 3,000 customers, including large and medium-sized food chains, pharma chains, mini markets, containers, restaurants , Catering companies and wholesalers. Apart from Israel, it operates in South Africa, Georgia, New Zealand and Cyprus.
Diplomat works in collaboration with major food and other manufacturers of food products from the world, and among other things markets Procter & Gamble products, including Gillette razors, Pampers diapers and Ariel washing powder; The chocolate Mondaliz giant among its brands is Oreo cookies, Milka chocolate and Cadbury chocolate; And Nestle, whose products include Nescafe, Cheerios cereal and more.
The company is controlled by Chairman Jeffrey Mendel (holds approximately 24% of the capital) and CEO Noam Weiman (holds approximately 13% of the capital).
Diplomat ended the fourth quarter of 2021 with revenues of NIS 681 million, an increase of NIS 3 million compared to the corresponding quarter. Operating profit for the quarter increased by 33% to NIS 36 million, and the bottom line was that the company recorded a 17% increase in net profit of NIS 25 million.
In 2021, CEO Noam Weiman received an exceptional salary of NIS 25 million (base salary of NIS 2.2 million, bonus of NIS 14.4 million and share-based compensation of NIS 8.1 million).
Weiman noted today (Thursday) that “we conclude 2021 with growth in our operations in most sectors. Since the IPO in March 2021, the company has continued to advance its growth engines, to expand its business and assets in various areas.”
At the beginning of January this year, a diplomat raised a capital of just over NIS 70 million by issuing about 5% of its shares to several institutional entities, headed by Clal and Phoenix. This, less than a year after joining the Tel Aviv Stock Exchange. The allotment was made at a share price of NIS 52 – a discount of about 5% on the market price of the share at the time of the allotment, and of about 10% of the price in the issuance of a diploma made in March 2021 at a share price of about NIS 58.
Today, a diplomat registers a 3% increase during trading on the stock exchange to a price of NIS 57. Overall, this stock is stocked diplomat On stability since the IPO, so that it reflects a value for the company of around NIS 1.5 billion.