Ilex Medical presented record results for the third quarter: 4% increase in revenues and amounted to NIS 310 million

Ilex Medical presented record results for the third quarter of the year, with an improvement in all parameters - from the revenue line to the profit line. Since the outbreak of the corona plague, Ilex has started providing devices and test kits for diagnosing the virus. The entry into the boiling market has led to tremendous growth in its activity. The company is traded on the stock exchange at a value of NIS 1.4 billion.
Ilex reported a 4% increase in revenue in the third quarter compared to the corresponding quarter last year, which amounted to NIS 310 million. Gross profit jumped in the third quarter by 54% compared to the corresponding quarter in 2020 and amounted to NIS 142 million. The gross profit margin of total revenue was 45.7% compared to 30.9% in the corresponding quarter in 2020.
The company's operating profit increased by 76% in the third quarter to NIS 107 million compared to NIS 61 million in the corresponding quarter in 2020 and EBITDA jumped 72% to NIS 118 million, compared to EBITDA of 69 NIS million, which it presented in the third quarter of 2020. The profit attributed to Ilex's shareholders jumped by 69% to NIS 84 million, compared with a profit of NIS 50 million in the third quarter of 2020.
Yesterday, the company reported that the Ministry of Health had ordered corona tests worth about NIS 119 million from it, so that the total value of orders from the ministry so far has reached NIS 15 billion.
Ilex Medical was founded in 1977 by Dr. Moshe Ben Shaul, who serves as chairman. Its share has soared by about 8% since the beginning of the year and completed a 263% increase in five years. Prior to the Corona plague, Ilex focused on importing and marketing medical devices and equipment and developing and manufacturing respirators. The company operates through several subsidiaries: Ilex, which markets medical laboratory equipment for the fields of diagnostics; Medtechnica, which markets medical equipment; And Plate - which develops, manufactures and markets soul instruments. Among other things, Ilex has previously provided equipment for HIV testing in South Africa.
Since the outbreak, Ilex has set up the Corona Laboratory in Airport City - near Ben Gurion Airport, and has also received an order from the Ministry of Defense for reagents (chemicals) to perform serological blood tests. Yes, the company has sold soul machines worldwide and in Israel.
Tami Galili, CEO of Ilex Medical, said that "the Corona epidemic accelerated the company's growth and at the same time allowed us to develop new growth engines in the field of medical equipment, bidding in cash auctions and investing in innovative start-ups. The third quarter was affected by the fourth wave of the corona epidemic, in which Ilex responded to the epidemic in a number of areas, including the laboratory in Airport City. The results for the quarter reflect streamlining processes carried out in the laboratory that led to an improvement in profitability. "As part of the strategy to build new growth engines, we announced an investment agreement with Starget Pharma, under which Ilex will acquire up to 33% of the company, which specializes in cancer diagnosis and treatment, for a maximum of $ 10 million."