Strauss Group: Reports Q4 and Full Year 2023 Results

Petach Tikva / IL. (sg) Israel’s Strauss Group Limited presented its business strategy update for 2024 to 2026. Strategy highlights include focus on core businesses, further investments of 5 to 7 percent of revenues in the plants and infrastructure in Israel, as well as sustainable growth in Israel, China, Brazil.

President and CEO Shai Babad: «The Group has ended 2023 with growth across most financial parameters, after a series of business processes that was set in motion during the year and will continue into 2024. The strategy update reflects the process of change which focuses on the Group’s core businesses and the strengthening of the company’s financial strength, as we continue to build infrastructure for strategic growth drivers. The past year was very complex and challenging on the national level.»

The Group published its financial statements for Q4 and FY-2023, with revenue surpassing NIS 10 billion for the first time this year and reaching NIS 10.5 billion – up 11 percent versus 2022. In the fourth quarter, Strauss delivered revenue of NIS 2.7 billion, reflecting 9.6 percent growth compared to Q4-2022.

(Table: Strauss Group FY-2023)

Operating profit for 2023 was NIS 772 million (7.3 percent of sales), and net profit was NIS 439 million (4.2 percent of sales). In the fourth quarter, operating profit was NIS 181 million (6.7 percent of sales), and net profit was NIS 100 million (3.7 percent of sales). Strauss will distribute a dividend of NIS 270 million to shareholders. For additional information please read the Company’s PDF file below (451 KB | 13 pages):

20240326-STRAUSS-Q42023.