back

Financial Reports 2016 and Q4

from news and media, Israel
28/03/17

Strauss Group Reports Fourth Quarter and Full Year 2016 Results; A strong set of results with 3.9% annual sales growth and 12.8% EBIT growth (1)

 

Excellent results delivered by Strauss Coffee and significant achievements at Strauss Israel, together with continued improvement in Strauss Water, lead to positive results across all metrics

 

 

Gadi Lesin, President and CEO of Strauss Group (March 28, 2017): “2016 was a strong year for the Group and its businesses, which have posted an improvement across all metrics and strong cash flows. Strauss Israel continued to exceed market growth rates in our home base in Israel and Strauss Coffee posted as set of excellent results for 2016. Sabra’s recall from November is being responsibly managed to ensure a return to solid performance. We will continue to invest in innovation, in efficiency enhancement and in delivering genuine added value to our consumers around the world.”

 

2016 highlights (1)

  • Organic sales growth, excluding foreign exchange effects, was c6.2%. Shekel sales were NIS c7.9 billion compared to NIS 7.6 billion in 2015; sales were impacted by a negative currency translation amounting to NIS c176 million as a result of the continued strengthening of the NIS in comparison to other currencies.

 

  • Gross profit was NIS c2,980 million (c37.5% of sales), up c5.4% compared to the corresponding period last year. Gross margins were up c0.5%.

 

  • Operating profit (EBIT) was NIS c744 million (c9.4% of sales), up c12.8% compared to the corresponding period last year. EBIT margins were up c0.8%.

 

  • EPS for shareholders of the Company were NIS c3.12, up c14.2% compared to the corresponding period.

 

  • Cash flow from operating activities totaled NIS c762 million, compared to NIS c516 million in 2015.

 

(1) Data represent the Company’s non-GAAP figures, which include the proportionate consolidation of jointly controlled businesses (without implementation of IFRS 11) and do not include share-based payment, valuation of the balance of commodity hedging transactions as at end-of-period and other income and expenses, unless stated otherwise.

 TABLE OF FR Q4 & 2016

 

(1) Data represents the Company’s non-GAAP figures, which include the proportionate consolidation of jointly controlled businesses (without implementation of IFRS 11) and do not include share-based payment, valuation of the balance of commodity hedging transactions as at end-of-period and other income and expenses, unless stated otherwise.

(2) Investments include the acquisition of fixed assets and investment in intangibles.

Note: Financial data were rounded off to NIS millions. Percentages changes were calculated on the basis of the exact figures in NIS thousands.

 

 TABLE OF FR Q4 & 2016

 

(1) Data represent the Company’s non-GAAP figures, which include the proportionate consolidation of jointly controlled businesses (without implementation of IFRS 11) and do not include share-based payment, valuation of the balance of commodity hedging transactions as at end-of-period and other income and expenses, unless stated otherwise.

(2) Fun & Indulgence figures include Strauss 50% share in the salty snacks business. International Coffee figures include Strauss 50% share in Três Corações Joint Venture (3C) – Brazil – a company jointly held by the Group (50%) and by the São Miguel Group (50%). International D&S figures reflect Strauss 50% share in Sabra and Obela. Other Operations includes Strauss’s share in Strauss Water China (50%) until June 30, 2015.

Note: Financial data were rounded off to NIS millions. Percentages changes were calculated on the basis of the exact figures in NIS thousands.

 

Q4 2016 highlights(1)

 

  • Organic sales growth, excluding foreign exchange effects, was c4.2%. Shekel sales were NIS c2 billion compared to NIS 1.9 billion in the corresponding quarter last year, and includes a NIS c42 million positive translation effect as a result of the strengthening of the Brazilian Real versus NIS during the fourth quarter.
  • Gross profit was NIS c717 million (c35.3% of sales), up c2.6% compared to the corresponding period last year. Gross margins were down c1.5%.
  • Operating profit (EBIT) was NIS c135 million (c6.6% of sales), down c14.4% compared to the corresponding quarter last year. EBIT margins were down c1.7%.
  • EPS for shareholders of the company were NIS c0.53, down c22.1% compared to the corresponding period.
  • Cash flows from operating activities totaled NIS c360 million, compared to NIS c426 million last year.

 

 (1) Based on non-GAAP data, which include the proportionate consolidation of jointly-held partnerships (without implementation of IFRS 11) and do not include share-based payment, valuation of the balance of commodity hedging transactions as at end-of-period and other income and expenses, unless stated otherwise.

 

 TABLE OF FR Q4 & 2016

 (1) Data represent the Company’s non-GAAP figures, which include the proportionate consolidation of jointly controlled businesses (without implementation of IFRS 11) and do not include share-based payment, valuation of the balance of commodity hedging transactions as at end-of-period and other income and expenses, unless stated otherwise.

(2) Investments include the acquisition of fixed assets and investment in intangibles.

Note: Financial data were rounded to NIS millions. Percentages changes were calculated on the basis of the exact figures in NIS thousands.

 

 TABLE OF FR Q4 & 2016

 

(1) Based on non-GAAP data, which include the proportionate consolidation of jointly-held partnerships (without implementation of IFRS 11) and do not include share-based payment, valuation of the balance of commodity hedging transactions as at end-of-period and other income and expenses, unless stated otherwise.

(2) Fun & Indulgence figures include Strauss’s 50% share in the salty snacks business. International Coffee figures include Strauss’s 50% share in the Três Corações joint venture (3C) – Brazil – a company jointly held by the Group (50%) and by the local São Miguel Group (50%). International D&S figures reflect Strauss’s 50% share in Sabra and Obela.

Note: Financial data were rounded to NIS millions. Percentages changes were calculated on the basis of the exact figures in NIS thousands. The figures for total International D&S were calculated on the basis of the exact Sabra and Obela figures in NIS thousands.

 

Appendix:

 

 Appendix TABLE OF FR Q4 & 2016

 

 Appendix TABLE OF FR Q4 & 2016

 

Investor Conference Call

 

Strauss Group will host an Annual and Fourth Quarter 2016 Investor Conference Call at the offices of the company in Petach Tikva on Tuesday, March 28, 2017 at 17:30 (Israel time) to review the Financial Statements of the Company for the year and quarter.

 

The Financial Statements for the fourth quarter and full-year of 2016 and Investors Presentation are posted on the Group’s Investor Relations website at:

http://ir.strauss-group.com/phoenix.zhtml?c=92539&p=irol-irhome

 

For further information please contact:

 

Daniella Finn

Director of Investor Relations

Strauss Group Ltd.

972-54-577-2195

972-3-675-2545

Daniella.Finn@Strauss-Group.com

 

 

 

Osnat Golan

VP Communications & Digital, Spokesperson

Strauss Group Ltd.

972-52-828-8111

972-3-675-2281

Or

Gil Messing

External Communications Director

Strauss Group Ltd.

972-54-252-5272

 

 

 

For PDF version press here>

 

 

Contact Us
Osnat Golan
Osnat Golan
VP Corp Communications, Digital, Sustainability & Spokesperson
+972-36752281 Send mail to Osnat Golan
Gil Messing
Gil Messing
Dir. External Communications & Government Relations
+972-3-6756713 Send mail to Gil Messing
Anat Lev-Confortes
Anat Lev-Confortes
Public Relations Manager
+972-3-6752584 Send mail to Anat Lev-Confortes