Welcome to our dedicated page for Strauss Group news (Ticker: SGLJF), a resource for investors and traders seeking the latest updates and insights on Strauss Group stock.
Strauss Group Ltd. (SGLJF) is a leading global food and beverage enterprise with operations spanning fresh foods, coffee solutions, water technologies, and international spreads. This news hub provides investors and industry stakeholders with direct access to the company's official financial communications, strategic initiatives, and market developments.
Our curated collection features essential updates including quarterly earnings disclosures, sustainability program advancements, product innovation launches, and partnership announcements. Monitor developments across Strauss Israel, Strauss Coffee, and their water technology division through verified primary sources.
Bookmark this page for streamlined access to SGLJF's regulatory filings, leadership updates, and operational expansions. Check back regularly to stay informed about this multinational corporation's progress in nutrition innovation and responsible business practices.
Strauss Group (TASE: STRS) reported a 6.5% revenue growth for FY 2022, totaling NIS 9.5 billion. Despite this growth, profit margins suffered significantly, with net profit declining by 72.9% to NIS 174 million. Factors contributing to this decline included production halts in the confectionery division and Sabra, leading to a 12.3% drop in gross profit and a gross margin of 29.8%. Meanwhile, market shares for both Sabra and the confectionery division are recovering, reaching 37.6% and 24% respectively. While the company focuses on innovation and infrastructure investments, challenges remain in rising costs and external pressures.
Strauss Group reported a 7% increase in third-quarter revenue, reaching NIS 2.5 billion, driven by robust sales in its coffee business across Brazil and Europe. However, rising raw material costs, including a 47% drop in the confectionery division, led to a 9.9% decline in gross profit. Operating profit fell by 63.3% to NIS 111 million. The company anticipates net profit losses of NIS 290-310 million due to a confectionery recall. Despite challenges, Strauss Water and Strauss Coffee showed solid growth, with the latter seeing a 37.3% revenue increase in the quarter.
Strauss Group reported a revenue increase of 8% in the first half of 2022, totaling NIS 4.5 billion, despite challenges in its Confectionery Division and Sabra plant. The second quarter saw NIS 2.3 billion in revenue, a 4.6% rise, primarily due to coffee sales growth. However, operating profit dropped 59.1% to NIS 204 million, with net income down 66.2% to NIS 113 million. The company is resuming production gradually at its confectionery site and expects a return to full-scale operations at Sabra in the second half of 2022.
Strauss Group reported its 2020 financial results, showcasing resilience amid the COVID-19 pandemic. The company achieved NIS 8.35 billion in revenues, a 4.6% organic growth, despite a 2.2% decline in reported income due to negative currency translations totaling NIS 589 million. Organic operating profit rose by 5.4% to NIS 924 million, while net profit increased by 0.7% to NIS 551 million. Notably, Strauss Coffee and Strauss Israel experienced growth, although Sabra faced challenges with a 3.2% drop in organic sales. The company also published its thirteenth sustainability report.
