Global Retail, which runs the supermarket in Carrefour in Israel, which was launched two years ago, witnessed a 10 % increase in revenues in 2024 to 3.34 billion New. The height was mainly due to the renewal of additional branches and their reopening as the Carrefour supermarkets after May 2023.
Global Retail, which is controlled by Electra Consumer Products (Tase: ECP), has reported a 69 million New New profit in 2024 compared to a loss of 37 million New in 2023, but it still ends in the year with a severe loss of 113 million New due to severe spending of 180 million in service Its debts. In 2023, the loss was higher at 188 million NIS, where 111 million NIS spent on debt service.
Global Retail, which was founded by SuperMarket Yeinot Bitan-MEGA, is currently 145 branches around Israel, the vast majority under Carrefour commercial brand.
The company's supermarkets are mainly in neighborhoods and city centers, and Global Retail also runs four online sales sites, which were the main Carrefour Online. In 2025, the company plans to convert four Yeinot Bitan supermarkets into Carrefour branches. According to Electra Consumer products, the company imports 1650 Carrefour brand products.
“We have met with all our promises to investors on the eve of 2024. We will continue to bring products. Today, Carrefour is one of the most promoted brands in Israel – and for us it is a great achievement,” said Zvika Shwmer, CEO of Electra Consumer Products, “Globes”.
Regarding the loss, SHWIMMER, who is also the Chairman and Temporary CEO of Global Retail, explained that the heavy debt cost taken by the chain (including long -term rental obligations for about two billion NIS): “We have heavy financing expenses. On the other hand, we also have 2 billion Nat.
Electra Consumer products are estimated at the global retail value of about a billion NIS – much lower than the maximum leading chains market in Israel – at the maximum market for more than 10 billion New, and Rami Levi is the market value of 3.5 billion New.
“We are studying whether we should float the series as part of a subsidiary, Electra Retail, but there are many ways to deal with debt. For example, we have seen that the KSP computer series currently brings partners and we can also bring partners,” SHWIMMER says.
Electra Consumer Products to resume profits distribution
Electra Consumer Products, which also manages retail chains in the electronics sector (MAHSASANEI HASHMAL and Sheekem Electric) and imports and runs sportswear stores (Adidas, Colombia), along with traditional air conditioner activity, but also in sports activity, sales are committed to sports, switching to sales, switching to sales and transformation as well To transform, transform into sales, transform sales, transform sales, transform sales, turn into a shift and a shift to transformation into allergies. sector. The company informed a net profit of 52 million Na in 2024 compared to a net loss of 101 million NA in 2023, and after two years, it resumes the distribution of profits to shareholders (at 40 million New).
Posted by Globes, Israel Business News – En.globes.co.il – on March 23, 2025.
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