Electra Consumer Products reported that it closed 2021 with revenues of NIS 4.6 billion

Electra Consumer Products reported that it closed 2021 with revenues of NIS 4.6 billion, about 79% more than 2020; Operating profit of NIS 266 million, about 103% more than in 2020; And a net profit from continuing operations of NIS 172 million, about 90% more than in 2020. In addition, Schwimmer announced today another huge deal that could shake up the Israeli food retail market and compete with Shufersal's monopoly (-1.54% 2806).
Electra Consumer has signed a memorandum of understanding with the largest French food retail chain in Europe and the second largest in the world, Carrefour, according to which it will receive the concession to operate the Pavilion wine chain stores in Israel under the prestigious brand. Carrefour is traded at a value of 13.4 billion euros. The food giant produces 14,000 food and non-food products in hundreds of factories and sells them under 20 brands it owns, in 13.9 thousand stores operating in more than 40 countries. Carrefour's annual revenue is € 72 billion and the chain's net profit is € 960 million.
As a huge retail chain, Carrefour has stated that by 2026 it will invest € 3 billion in improving its online operations with the aim of tripling its online sales turnover to € 10 billion. In Israel, at present, Shufersal holds 70% of the online market, which is estimated to generate annual revenues of about NIS 3 billion.
The 2021 reports indicate that Schwimmer was able to improve revenues and profits in all sectors in which the company operates: the Electricity Consumer Products Division, in which Electra Consumer Products imports, manufactures and markets about 20 electrical brands such as BOSCH and Elco, has shown a 7% increase in revenue To NIS 1.24 billion and sectoral profit climbed by 34% to NIS 119 million; electricity retail activity generated revenues of NIS 1.78 billion - about 15% more than in 2020 and sectoral profit of NIS 87 million - about 7% more than 2020; food retail activity generated revenues of NIS 1.7 billion and segment profit of NIS 45 million; and investment real estate activity, which benefited from revaluation gains, showed a 500% increase in segment profit, which amounted to NIS 63 million.
Schwimmer, who enjoys an annual salary of NIS 4.59 million, said after the publication of the reports: "We conclude an excellent year, in which we performed many improvements in all areas of the group's operations, as well as extensive business development Consumer products in Israel. "