Dor Alon published – the stock rose 4.3% after Q3 reports

by time news

Net profit in the third quarter – about NIS 37 million.

An increase in fuel sales at gas stations in the 3rd quarter of 2021 compared to total sales in the corresponding quarters of 2020 and 2019 and even beyond market trends.

The continued deployment of the “Mini Super Alonit” format, which already has about 80 stores, contributed to a jump of about 20% in convenience store sales in the third quarter of 2021 compared to the quarter last year.

Dor Alon’s EBITDA in the first nine months of the year amounted to NIS 400 million – an increase of 28% compared to the same period last year.

EBITDA in the third quarter of the year amounted to NIS 137 million.

With a 27% increase in the adjusted EBITDA of the operating segments.

The financial statements published by Dor Alon for the first nine months and the third quarter of 2021 show that the company recorded a net profit of NIS 115 million in the first nine months of the year – a jump of more than 105% compared to NIS 56 million. In the same period last year. The net profit in the third quarter amounted to NIS 37 million, while the adjusted net profit in the third quarter amounted to NIS 41 million – a jump of 58% compared to the adjusted net profit of NIS 26 million in the corresponding quarter last year.

Dor Alon’s gross profit in the nine months amounted to NIS 815 million – a jump of 22% compared to a gross profit of 669 million in the corresponding period last year. Gross profit in the third quarter amounted to NIS 287 million, an increase of 7% Compared to the corresponding quarter last year.

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Dor Alon’s EBITDA in the first nine months of the year amounted to NIS 400 million – an increase of 27% compared to the corresponding period last year. EBITDA in the third quarter of the year amounted to NIS 137 million with an increase of approx. -27% in the adjusted EBITDA of all the company’s operating segments.

Profit from operations in the first nine months of 2021 amounted to approximately NIS 186 million – an increase of approximately 22% compared with the profit from operations, which reached approximately NIS 152 million in the corresponding period last year.

Dor Alon’s reports for the first nine months of the year and the third quarter of 2021 show, among other things:

Fuel sales at the refueling complexes recorded growth compared to quantities sold in the same quarter in 2019, before the outbreak of the corona plague.

Dor Alon’s convenience store sales saw an increase of about 20% compared to the corresponding quarter last year and compared to 2019 (before the corona epidemic) there was an increase of about 30%.

Am: pm sales grew by about 3%, despite the downward trend in the retail market.

The profitability of the direct marketing sector was affected by the recovery in jet fuel sales with the increase in the volume of flights as well as by the regular supply of fuel to the Palestinian Authority, an activity which began in January this year.

The activity of the power plant in Kiryat Gat, with a capacity of 75MW, continues to generate a steady flow and availability of about 99% during the period.

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The value of the real estate in Dor Alon’s book as of September 30, 21 is about NIS 810 million and it is 100% occupied by its essential assets. At the same time, the company continues to initiate, develop and establish real estate properties amounting to approximately 140,000 square meters in Herzliya Pituach and Kfar Saba.

The company’s shareholders’ equity as of September 30, 2121 stands at approximately NIS 1.2 billion, after a dividend of NIS 50 million. 10% return on equity during the reporting period.

Chairman of the Company’s Board of Directors, Israel Yaniv, Notes that: “The good results reflect the rapid recovery and return to growth in the company’s areas of activity and we show an increase in fuel sales in refueling complexes compared to the quantities of fuels sold in the same quarter in 2019, pre-Corona epidemic and even beyond market trends. We continue to develop our business. The three arms on which the group is currently founded – energy, retail and real estate.

The incoming CEO of Dor Alon, Oded Golan, Emphasizes that we are continuing the business development momentum – which includes the continued conversion of Alonit branches to the new “Mini Super Alonit” format, a move that has resulted in significant growth in convenience store sales in recent years and continued expansion of am: pm in Tel Aviv and beyond to 100 stores in the coming years. In the field of catering, there is a rapid recovery in sales of the BBB Group’s restaurant chain and meeting profitability targets that meet our expectations. “

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