Business
Strauss Group Reports Fourth Quarter and Full Year 2024 Results
Strauss Group Ltd. (TASE: STRS) reported its financial statements for the fourth quarter and full year of 2024, against the backdrop of the continuing impact of rising raw material prices on the company's profits.
About this update from Strauss Group Ltd
[{"type":"text","content":"2024 revenues up 6% reaching NIS 11.2 billion; NIS 418 million in net profit[1]","length":79,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"The company delivered a year of significant growth in Brazil, China and Israel","length":78,"tagName":"p"}]},{"val":[{"type":"text","content":"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","length":257,"tagName":"p"}]},{"val":[{"type":"text","content":"The company's confectionery business in Israel returned to its former market share","length":86,"tagName":"p"}]},{"val":[{"type":"text","content":"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.","length":136,"tagName":"p"}]},{"val":[{"type":"text","content":"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","length":184,"tagName":"p"}]},{"val":[{"type":"text","content":"Strauss will distribute a dividend of NIS 160 million to shareholders","length":69,"tagName":"p"}]},{"val":[{"type":"text","content":"Strauss announces the appointment of Mr. Saul Kobrinsky as Deputy to the Chairperson of the Board of Directors","length":110,"tagName":"p"}]},{"val":[{"type":"text","content":"Mr. David Mosevics and Mrs. Tzipi Ozer Armon have requested to end their tenure on the Board of Directors","length":105,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1025,"olType":false},{"type":"text","content":"PETAH TIKVA, Israel, March 25, 2025 /PRNewswire/ -- Strauss Group Ltd. (TASE: STRS) reported its financial statements for the fourth quarter and full year of 2024, against the backdrop of the continuing impact of rising raw material prices on the company's profits.","length":279,"tagName":"p"},{"type":"text","content":"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, continue...