Terminal X: The loss was reduced to NIS 7.7 million in 2022

Terminal X: The loss was reduced to NIS 7.7 million in 2022

The trade site ended the past year with a 12% increase in revenue; The number of active customers increased to 584 thousand; Operating profit fell by 84%

Terminal X trade site, from Fox Groupended the year 2022 with a 12% increase in revenues, alongside a decrease in operating profit and a loss on the bottom line.

During the first quarter, the company’s sales decreased by 3% compared to the corresponding quarter in 2021 where there was a shutdown that lasted over 50 days and strengthened online sales. But from the second to the fourth quarter, Terminal X sales grew by 18% due to an increase in the number of returning customers and the average shopping basket, and the company’s sales totaled NIS 383 million.

The number of active customers on the site increased in 2022 to 584 thousand compared to 540 thousand the year before. The average order basket was NIS 342 compared to NIS 327 in 2021. And the number of transactions carried out on the site was 1.6 million transactions compared to 1.5 million in 2021.

The increase in sales affected the gross profit which also grew by 12% and stood at NIS 172 million, but its share of sales remained stagnant and even decreased slightly by 0.2% to 45%.

The company presented a 22% increase in sales and marketing expenses, which amounted to 164 million shekels, against the background of an increase in advertising and marketing expenses in an attempt to acquire new customers, an increase in labor costs, and mainly due to expenses for establishing the activity of a trade website in Greece. In October 2022, the company launched the trade website in Greece, which markets about 40 international fashion brands. For comparison, Terminal X in Israel markets over 200 local and international brands including the private brand Terminal X.

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The operating profit before share-based payment was NIS 2.2 million – a decrease of 84% compared to 2021, in which the company’s share payment cost was the same as in 2022 and was about NIS 12 million.

In the bottom line, this year the company recorded a loss of NIS 7.7 million, after losing NIS 8.6 million in 2021.


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