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Strauss Group revenues approximately NIS 8.5 billion

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Christian Fernsby ▼ | March 25, 2020
Strauss Group has wrapped up 2019 with stellar results and organic growth in most product categories and geographies.
Strauss Group
Strauss Group   In shekel terms, the company recorded a slight drop of 0.5% in revenues
In 2019 the company's revenues amounted to approximately NIS 8.5 billion, reflecting 2.6% organic growth excluding foreign currency effects.

Topics: Strauss Group

In shekel terms, the company recorded a slight drop of 0.5% in revenues compared to 2018.

The main reason for the decrease is the appreciation of the shekel against other currencies, eroding revenues by approximately NIS 235 million, of which NIS 167 million are the result of the depreciation of the Brazilian Real against the shekel.

Further to the trend in recent quarters, the Group continued to improve its profit and profit margins.

In 2019 the Group's non-GAAP gross profit was NIS 3.38 billion, an increase of 3.6% over 2018.

The gross profit margin improved considerably, rising from 38% in 2018 to 39.6% in 2019.

The main reasons for the increase in gross profit and the gross profit margin are a certain drop in raw material prices, innovation and productivity, as well as a continuous improvement in the Group's sales mix.