Strauss Group: Reports First Quarter 2024 Results

Petach Tikva / IL. (sg) Israel’s Strauss Group Limited released its financial reports for the first quarter of 2024, showing an increase in revenue, which totaled approximately 2.6 billion shekels, a rise of about 1.4 percent compared to the same quarter last year. The operating profit for the quarter amounted to approximately 204 million shekels, representing about 7.8 percent of total sales. The operating profit was impacted, among other things, by the significant rise in raw material prices, which led to a decrease of about 2.4 percent in operating profit compared to the same quarter last year. The net profit for the group in the quarter was approximately 159 million shekels, compared to a net profit of approximately 134 million shekels in the same quarter last year. During the first quarter, and as part of implementing the group’s strategy, the group completed the sale of the coffee company in Serbia for a sum of 38.8 million euros. Simultaneously, the group’s confectionery operations continue to recover with growth and an increase in market share. Additionally, in recent months, the credit rating agency «Maalot S+P» announced an update to Strauss Group’s outlook from negative to stable and reaffirmed the «ilAA+» rating assigned to the group.

(Table: Strauss Group)

For additional information please read the Company’s PDF file below (307 KB | 05 pages):

20240527-STRAUSS-Q12024.