Asi Schmelzer (Photo by Israel Hadari)
Shlomo Holdings ended a very strong year with more than doubling its net profit. Due to the impressive results, the company decided to distribute a one-time bonus of NIS 4,000 per employee and at the same time distribute a dividend of NIS 220 million to shareholders.
The company’s data show that revenues in 2021 increased by 19% to NIS 4.6 billion, compared with NIS 3.879 billion in 2020. The Group’s revenues in the fourth quarter increased by NIS 52 million and amounted to NIS 1.06 billion, compared with NIS 1.01 billion in the fourth quarter of 2020.
More in-
The net profit (attributed to the owner) more than doubled and amounted to NIS 576 million in 2021, compared to NIS 247 million in 2020. The net profit in the last quarter of 2021 increased by 75% and amounted to NIS 182 million, compared to NIS 104 million in the fourth quarter of 2020.
The annual operating profit increased by about 90% and amounted to NIS 707 million, compared to NIS 373 million in 2020. The operating profit in the last quarter of 2021 increased by about 155% and amounted to NIS 209 million, compared to NIS 82 million in the previous year. The annual profit before tax in 2021 increased by 133% and amounted to NIS 777 million, compared to NIS 333 million in 2020. Profit before tax in the last quarter of 2021 increased by about 75% and amounted to NIS 242 million, compared with NIS 138 million in the previous year.
The company’s leasing business generated a attributable operating profit of NIS 502 million in 2021, compared to NIS 265 million in 2020. Most of the improvement in profit is due to an increase in the leased (yielding) fleet, an improvement in the average rent, an improvement in profitability in the sale of vehicles and an improvement in operations.
The short-term rental segment recorded a privileged segment profit of NIS 88 million in 2021, compared with a privileged segment profit of NIS 17 million in 2020. Most of the improvement in profit is due to an improvement in non-utilization (an increase in the number of rental days) and an increase in the average rent.
The vehicle sales segment recorded a privileged segment profit of NIS 36 million in 2021, compared with a profit of NIS 21 million in 2020. The increase in profit is due to an increase in the number of vehicles sold and an improvement in vehicle profitability.
Shlomo’s insurance business ended 2021 with profits of NIS 165 million compared to NIS 70 million in 2020. The insurance company’s net profit doubled in the last quarter of 2021 and amounted to NIS 60 million, compared to NIS 29 million in the previous year.
Profit from net investments (including the change in the fair value of investment real estate) in 2021 amounted to NIS 195 million, compared with NIS 22 million in 2020. The increase in investment profits in 2021 is due to an improvement in returns, especially compared to 2020 which was affected by capital market falls. In the first quarter of 2020.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment