Elco Group: Revenues increased by 36% to NIS 3.49 billions

The Elco Group today published the financial statements for the second quarter and the first half of 2021. Main results for this quarter:
Revenue: Revenue increased by 36% to NIS 3.49 billion, compared with NIS 2.56 billion in the corresponding quarter of 2020.
Gross profit: In the quarter, gross profit grew by 76% to NIS 679 million, compared with NIS 386 million in the corresponding quarter last year.
Operating profit: In this quarter, operating profit climbed by 89% to NIS 336 million, compared with a total of NIS 178 million in the corresponding quarter last year.
Net profit: The company ended the first quarter of 2021 with a net profit of NIS 213 million (NIS 103 million attributed to shareholders), an increase of 94% compared to NIS 110 million (NIS 54 million attributed to shareholders). Shares) in the corresponding quarter in 2020.
Avi Israeli, Deputy CEO of Elco: "The results of the period were positively affected, among other things, by the first consolidation of Electra Afikim in the results of Electra Ltd. and of Beitan Wines in the results of Electra Consumer Products, as well as continued growth in additional segments in subsidiaries."
Electra Ltd. continued to grow its workforce, which currently amounts to more than NIS 20 billion, and in the first half of the year it recorded growth in all segments of its operations with a first positive contribution of entering the transportation sector, which will be one of the company's important growth engines for years to come.