Shahar Turgeman (photo by Assaf Lev)
The undisputed star of the stock market in 2021 was the Brill Group, the company tripled its value when it was not clear exactly why this was happening. Businessman Jackie Ben Zaken made a strategic investment in the company and it seemed that his very entry into the company was the reason for the jump in the stock.
But here, yesterday (Tuesday) Brill’s financial report was published and the picture began to clear, it is not Jackie Ben Zaken but rather a lesser known figure – Shahar Turgeman – who was responsible for the company’s transition to profitability and a significant increase in revenue that crossed the half level NIS 1 billion.
More in-
We will continue: The Brill Group, posted record profits in 2021 of NIS 49 million (adjusted without the effects of IFRS16), reflecting a net profit rate of 9% out of a turnover of NIS 548 million, despite the closure period of early 2021. In 2020, Brill posted a loss Adjusted net of NIS 2.7 million with sales of NIS 427 million (which was also affected by the closures).
EBITDA (adjusted for neutralizing the effects of IFRS16) in 2021 amounted to NIS 70 million, compared with NIS 17 million in 2020.
Shahar Turgeman, Chairman of the Brill Group, noted: “We are pleased with the Group’s performance in the 4th quarter and in 2021 as a whole, the Group implemented the multi-year strategic plan planned in collaboration with the Board and Management and the fruits of the moves we reap in 2021 with excellent results. “In the coming year, the group will continue to focus on investing in growth and expansion. A first example of this is reflected in the announcement of the deal being formed in partnership with the network.”
Recall that Brill recently reported an interesting deal with a Channel 13 network operator in which he will establish a partnership company (25%), a company that will concentrate all the group’s online activities in exchange for allocating media from the network that will be used to promote online activities and the group’s brands. It is estimated at NIS 133 million.
Another interesting statistic that emerges from Brill’s results is the signing of an agreement to continue distributing Nautica brands for another 20 years, including the options, and also to extend the Timberland brand’s distribution contract for a number of more years.
In the fourth quarter of the year, Brill’s sales totaled NIS 162 million, compared with NIS 109 million in the corresponding quarter last year.
Bottom line, the Brill Group in the 4th quarter of 2021 shows adjusted net profit after tax of NIS 15.0 million, which is 9.2%, compared with adjusted net profit of NIS 5.2 million, which is 4.8% in the corresponding quarter of 2020, in all 2021, the adjusted net profit is NIS 48.9 million. 8.9% compared to a loss of NIS 2.7 million in 2020.
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