The company continues to increase revenues but the 2 sectors with the highest revenues have the lowest profitability percentage, the company needs to raise the profit margin in these sectors for continued growth
Matrix today released the company’s financial statements for 2021 and the fourth quarter of 2021, with the company once again recording all-time record results at both the annual and quarterly levels.
Annual results
Matrix revenue In 2021 For the first time, they crossed the NIS 4 billion threshold and stand at about NIS 4.36 billion, compared with about NIS 3.85 billion in 2020, an increase of about 13.1%.
Operating profit in 2021 was approximately NIS 329.4 million, compared with approximately NIS 289.1 million in 2020, an increase of approximately 13.9%. The rate of operating profit in 2020 was about 7.6% compared to about 7.5% last year.
Net profit in 2021 grew to about NIS 218.8 million, compared to about NIS 190.9 million in 2020, an increase of about 14.6%. The net profit margin remained unchanged at about 5%. EBITDA in 2021 recorded an increase of about 15.3% to about NIS 477.1 million and its rate was about 10.9% compared to about NIS 413.9 million in 2020.
Matrix concludes 2021 with organic growth of about 95% of sales growth, as it experiences growing demand for digital services, cloud, cyber services and computing and analytics infrastructure, alongside a return to growth in the training sector and an increase in demand for consulting and engineering services.
Matrix’s backlog recorded an increase of about 18% and is also at an all-time high and stands at about NIS 5.4 billion (of which about NIS 4.5 billion for 2022).
Fourth quarter results
Matrix revenues in the fourth quarter of 2021 amounted to NIS 1.16 billion, compared with NIS 1.04 billion in the corresponding quarter in 2020, an increase of 10.7%.
Operating profit grew by about 10% and amounted to about NIS 90.1 million, compared with about NIS 82 million in the corresponding quarter last year. The operating profit rate for the quarter was about 7.8%. The quarterly net profit amounted to approximately NIS 61.05 million and its rate was approximately 5.3%. EBITDA grew by 28.8% to a total of NIS 150 million.
Dividend: Matrix continues to distribute dividends to its shareholders on a quarterly basis at a rate of up to 75% of net profit. In 2021, the company distributed dividends in the cumulative amount of NIS 146.5 million (all-time record), compared with NIS 124.8 million in 2020. With the publication of the financial statements for 2021, Matrix announced an additional dividend distribution of NIS 40.8 million (65 ag. Per share). In the last five years (2017-2021), the company has distributed a cumulative total of approximately NIS 577.7 million in dividends to its shareholders.