Rav-Briach Group is engaged in the development, planning, production, marketing, sale and export of a variety of products unique to the construction and renovations industry for the saturated residential construction market, the institutional and private market and the lock market, the company reports a nice increase in revenue but the company bothersome.
Most of the increase in expenses is concentrated in the management and general section, which grew by about 50%, the main of which is salary expenses, a sharp transition to the company’s balance sheet also does not bode well for the company. , A large number of liabilities have increased due to the increase in revenues but the company does not make a profit. The increasing expenses will not benefit in the future, also in terms of capital. .
Reporters for the first quarter:
Revenue
The Rav-Briach Group continues to enjoy the surge in the construction industry as a leading supplier to the industry and shows a 33% growth in the Group’s revenues – NIS 170 million compared to NIS 127.2 million in the corresponding quarter last year. energy.
Gross profit
Gross profit in the first quarter of 2022 grew by 13.9% and amounted to NIS 31.1 million, compared with NIS 27.3 million in the corresponding period last year. In the first quarter, sales costs peaked and then began to decline.
EBITDA
In the first quarter of 2022, EBITDA amounted to NIS 16.4 million, compared with NIS 15.4 million in the previous quarter last year.
Pure profit
The first quarter of 2022 amounted to a loss of approximately NIS 1.3 million, mainly due to the significant increase in raw materials and expenses attributable to the transfer of the heavy frame plant to Ariel, as well as a decrease in the value of NIS 1.5 million (invested in Group A bonds). ).
Idan Zoarz, CEO of the Rav-Briach Group, stated: “Rav-Briach concludes the first quarter of 2022 with continued growth and a significant increase in revenues totaling NIS 170 million. An increase of about 33% compared to about NIS 127.2 million in the corresponding quarter Last year was a direct continuation of 2021, when we first crossed the half-billion shekel revenue threshold.