May 6, 2021   SOURCE: BusinessWire

Delta Israel Brands Ltd. Publishes Its First Financial Statement, for Q1 2021, and Shows Significant Growth

Delta Israel Brands Ltd. today published its initial financial statement, covering the first quarter of 2021. Isaac Dabah, Chairman of the Board, Delta Israel Brands, said of the company’s presentation of its first financial statement as a publicly traded company, “I am proud of the continued upward trend that leverages the company’s significant growth drivers and am positive that this is only the beginning for Delta Israel Brands as a publicly traded company on the Israel capital market.”

Anat Bogner, CEO, Delta Israel Brands, commented, “The financial statement for the first quarter of 2021 reflects the company’s strong growth trend thanks to its skilled and professional management team, promotion of growth drivers, brand expansion and diverse product mix. It is important to note that even when the chain’s stores reopened after lockdown, online sales maintained a high growth rate compared to the previous year.”

Delta Israel Brands’ sales in the first quarter of 2021 surged by 30% year over year, from ILS 148.4 million in the corresponding quarter the previous year to ILS 193.3 million.

Operating income rose to ILS 39.2 million, constituting 20.3% of turnover compared to operating profit of ILS 7.9 million in the corresponding quarter the previous year (5.3% of turnover).

The company’s gross profit rate grew by 3.5%, amounting to ILS 115 million, accounting for 59.5% of the company’s turnover. In the corresponding quarter the previous year, gross profit reached ILS 83 million (56% of turnover).

The company’s net profit grew by ILS 20.8 million to ILS 25.3 million, constituting 13.1% of turnover, compared to net profit of ILS 4.5 million in the corresponding quarter the previous year, which constituted 3% of turnover.

The company’s online sales continued their push upward, reaching ILS 65 million in the quarter and representing growth of 367% over the previous year.

Delta Israel Brands also announced distribution of ILS 3.55 million in dividends.

Approximately two months ago, the company successfully launched an IPO on the Tel Aviv Stock Exchange at a valuation of ILS 1.3 billion. In exchange for 20% of Delta Israel Brands shares, the company raised ILS 262.5 million (gross).

Delta Israel Brands Ltd. is traded on the Tel Aviv Stock Exchange under the symbol DLTI.TA. It is a spin-off of the publicly traded Delta Galil Industries Ltd., which owns 80% of the shares in Delta Israel Brands. The Delta and Fix chain stores operate under Delta Israel Brands, which designs, develops, markets and sells undergarments for women, men and children, home wear, active and leisure wear, children’s clothing, socks, and footwear under the Delta and Fix brands in Israel. The products are marketed in Israel in Delta Israel Brands’ own stores and through its websites. Additionally, the company markets its products to private shops, large and small retail chains, and private labels.