Fox reported revenues of about NIS 3 billion in 2020 and a profit of NIS 409 million

Fox reported revenues of about NIS 3 billion in 2020, a decrease of about 7.4% compared to last year. Operating profit in 2020 amounted to NIS 409 million, compared with NIS 349 million last year. The net profit amounted to NIS 202 million, compared with NIS 241 million last year. These results are excellent given the "Year of the Corona", with Fox expanding in Europe along the way and planning to issue its retailer subsidiary Nike.
Revenues for the quarter amounted to NIS 796 million, compared with NIS 864 million in the corresponding quarter. Operating profit for the quarter amounted to NIS 222 million, compared with NIS 115 million in the corresponding quarter. Net income amounted to NIS 96 million, compared with NIS 79 million in the corresponding quarter.
In 2020, there was significant growth in the activity of the Group's trading sites, and in particular on the Terminal X site - and in the company's estimation, this trend is expected to continue and even strengthen. "Terminal X is a leading e-commerce brand, and we must remember that we entered the field years after everyone else," says Fox CEO Harel Wiesel. "The site contains more than a hundred brands, it is the only site that makes money compared to the sites on the market. He was the first to put in "Today's Times Get Tomorrow". Covid is not Cubid, the site is another league, sells another league and is loved in another league. "
Operating profit in the fourth quarter of 2020, net of standard IFRS 16 and net of revaluation, amounted to NIS 90.5 million, and constitutes approximately 11.4% of sales. Compared with operating profit, excluding IFRS 16 and neutralizing the revaluation in the amount of NIS 101.3 million, which constitutes approximately 11.7% of sales in the corresponding period last year, a decrease of approximately NIS 10.8 million, a decrease of approximately 10.6%.
In the fourth quarter, one-time revaluation gains of NIS 128 million were recorded as a result of its acquisition of control of Lalin, while financing expenses were recorded in respect of the revaluation of an option by Leumi Partners to purchase approximately 10% of Retailers' shares.
Harel Wiesel: "The year 2020 proved the business flexibility and managerial capabilities of the Fox Group in a challenging period in the face of the consequences of the Corona plague. The results we present today, despite being closed for over 130 days, are based on proper strategic and operational preparation over the years, high business focus and adjustments. Commitment and streamlining Fox's growth strategy focuses on three main pillars: preserving and developing operations in the country, with an emphasis on the core of fashion and home and basic consumer products for every family, developing the group's business abroad including through the subsidiary's sports activities, and further exploring and realizing opportunities New business with an emphasis on diversifying the group's portfolio and promoting innovation in the group's business. Looking ahead to 2021, the Fox Group is optimally prepared for continued growth and enjoys financial strength that will allow it to continue to leverage its growth engines, including the development of retailers in Europe and Canada with the planned opening of additional Nike and Pot-Locker stores, as well as online terminal X which It gained momentum in 2020 and is expected to continue to grow in the coming years, among other things, thanks to a very significant variety of over 80 different international brands. "