Strauss Group Reports Fourth Quarter and Full Year 2024 Results
2024 revenues up 6% reaching NIS 11.2 billion; NIS 418 million in net profit1
• The company delivered a year of significant growth in Brazil, China and Israel
• Peak year in investments in core activities, infrastructure and the Group’s plants, mainly in Israel. The company is expected to inaugurate a plant-based alternative dairy production facility in Northern Israel and another water plant in China this year
• The company’s confectionery business in Israel returned to its former market share
• Strauss divested its holding in Sabra and Obela for NIS 891 million, net income of NIS 356 million and net cash flow of NIS 723 million.
• Likewise, the Company completed the sale of the coffee business in Serbia and the fresh vegetable business in Israel, and entered into an agreement for the sale of the Café Elite chain
• Strauss will distribute a dividend of NIS 160 million to shareholders
• Strauss announces the appointment of Mr. Saul Kobrinsky as Deputy to the Chairperson of the Board of Directors
• Mr. David Mosevics and Mrs. Tzipi Ozer Armon have requested to end their tenure on the Board of Directors
Strauss Group President & CEO Shai Babad commented: “We have concluded the first year of implementing our revised strategy, in which we focused and strengthened our core business, adjusted our organizational structure to support future growth, continued to invest in production sites and infrastructure, built growth drivers, as well as optimized our portfolio to improve our financial and business resilience. In 2024 the war continued, and it was a challenging and complex year for Israel. The Group’s employees continued to manufacture and market our products, maintaining business continuity, and supporting food security of all.”
