The company noted that last year it received a grant from the state for the corona in the amount of NIS 1.5 million and on the other hand, in 2021 it recorded accelerated depreciation expenses due to the closure of 5 Ace Electric branches in the amount of NIS 1 million. The Ice Electric stores that opened in 2019 and 2020 were closed in 2021 and early 2022. The activity was merged into the electricity activity in the ACE stores. Excluding the aforementioned non-recurring items, the operating profit in 2021 amounted to NIS 47.2 million, compared with NIS 48.5 million. This decrease in operating profit is mainly due to an increase in expenses due to the company’s transfer to a public company. EBITDA amounted to approximately NIS 56 million and accounted for approximately 7.8% of sales turnover, compared with approximately NIS 58.6 million in the corresponding period last year, which accounted for approximately 8.7% of sales turnover.
The company’s net profit amounted to NIS 33.1 million and accounted for 4.6% of sales, compared with NIS 35.9 million last year, which accounted for 5.4% of sales. Revenue of the company’s trading sites in 2021 amounted to NIS 170 million, compared with NIS 140 million last year, a growth of 21.7%, despite the closure of the chain’s stores in the first closure last year, a time when the company sold through trade sites only. The rate of revenue of the trading sites of the total revenue of the company in 2021 amounts to 19.2% compared to 17.2% in 2020 and 8.8% in 2019. The company’s trading sites carried out 350,000 transactions in 2021 compared to 315,000 transactions in 2020.
Itzik Ozana, CEO of Multi-Retail Group: “Like last year, 2021 was a year full of challenges, such as delays in the supply chain and sea freight prices that jumped during the year and broke records around the world, with the corona still in the background. At the same time, we acted on several levels simultaneously: we expanded the logistics capabilities to avoid delays and minimize the increase in costs associated with purchasing goods as much as possible, we expanded the synergy between online buyers and physical stores, we made the first synergistic acquisition of the Beitili Group. . We are looking forward to 2022, which is expected to be no less challenging, but we are now carrying out actions that will grow the company in the years to come. ”