PETAH TIKVA, Israel – Strauss Group published its financial statements for the fourth quarter and full year of 2023, with revenue surpassing NIS 10 billion for the first time this year and reaching NIS 10.5 billion (US$ 2.88 billion) – up 11% compared to 2022.
In the fourth quarter, Strauss delivered revenue of NIS 2.7 billion, reflecting 9.6% growth compared to the corresponding period last year.
Operating profit for 2023 was NIS 772 million, or $198 million (7.3% of sales), and net profit was NIS 439 million (4.2% of sales).
In the fourth quarter, operating profit was NIS 181 million (6.7% of sales), and net profit was NIS 100 million (3.7% of sales). Strauss will distribute a dividend of NIS 270 million to shareholders.
Strauss Coffee: 7.3% revenue growth in 2023
Strauss Coffee delivered revenues of NIS 5,154 million ($1.41 billion) in 2023, up 7.3% compared to last year, and operating profit of NIS 355 million, down 22.8% compared to last year. Strauss Coffee concluded 2023 with 6.9% in operating profit, a decline from 9.6% in 2022.
In Israel, coffee revenues were NIS 793 million ($217.5 million), up 1.8% compared to last year, and operating profit was NIS 107 million, up 10.3% compared to 2022.
The international coffee business outside Israel delivered NIS 4,361 million in sales in 2023, up 8.3%. and operating profit was NIS 248 million, down 31.8%.
Strauss Coffee’s sales in Europe – Poland, Romania, Serbia, Russia and Ukraine – rose in local currency terms.
In Brazil, the coffee company Três Corações‘s operating profit eroded and declined to 4%, compared to EBIT of 7% last year. In 2023, the company’s market share in roast & ground coffee (R&G) in Brazil reached 33.8% compared to 32.6% last year.
