Electra Client Merchandise (TASE: ECP) reviews a reasonable rise in income and internet revenue within the first quarter of this 12 months, because of enchancment within the exercise of the Carrefour-brand grocery store chain that it operates all through Israel. The corporate, headed by Zvi Shwimmer, posted solely a slight rise in income in its meals sector, which primarily consists of Carrefour, by 1.1% within the first quarter to NIS 799 million, however the revenue in that sector totaled NIS 42 million, 5.3% of turnover, and sharply greater than the web revenue of NIS 3 million (0.4% of turnover) within the corresponding quarter of 2024. The advance stemmed from greater gross sales in branches transformed to the Carrefour format.
Subsidiary World Retail, which is basically Carrefour, posted a internet revenue of NIS 5.2 million within the first quarter of this 12 months, which compares with a internet lack of NIS 34 million within the corresponding quarter.
The Carrefour chain “continues to current spectacular outcomes, to keep up a sectoral revenue margin of over 4%, and has recorded a 3rd successive quarter of internet earnings, and substantial development in income and EBITDA,” Shwimmer mentioned this morning. “Now we have accomplished the method of changing the branches, and the chain now numbers 144 branches, with a goal of 150 branches by the tip of the 12 months.”
Electra Client Merchandise’ enterprise additionally consists {of electrical} items retailing, via the Shekem Electrical and Mahsanei Hashmal chains, air con, and the sportswear and leisure-wear chains Adidas and Columbia. The corporate’s first quarter income totaled NIS 1.76 billion, up 2.7% compared with the primary quarter of 2024. Web revenue was NIS 21 million, 11% greater than within the corresponding quarter, primarily because of decrease working bills.
Electra Client Merchandise’ share worth has fallen 6% to date this 12 months, however continues to be up 43% over the previous twelve months, an increase primarily recorded final November, because the Carrefour franchise progressively stopped incurring heavy losses for the corporate. The corporate’s market cap at this morning’s opening was NIS 2.4 billion.
Printed by Globes, Israel enterprise information – en.globes.co.il – on Could 27, 2025.
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