Max Stock Limited Reports Fourth Quarter and Fiscal 2024 Full Year Financial Results
Declares ILS 70 Million, ~ ILS 0.50 per share One-Time Dividend
Fourth Quarter Revenue Increased 20.5% to ILS 328.1 million; Comparable Store Sales Increased 12.6%; GAAP Net Income Increased 28.0%
2024 Revenue Increased 18.9% to ILS 1.33 billion; Comparable Store Sales Increased 9.9%; GAAP Net Income Increased 31.6%
CAESAREA, Israel, March 19, 2025 /PRNewswire/ -- Max Stock Limited (TASE: MAXO) (the "Company") today reported financial results for the fourth quarter and year ended December 31, 2024.
Fourth Quarter 2024 Summary
Revenue increased 20.5% to ILS 328.1 million
Comparable store sales increased 12.6%
Gross margin was 41.9%
GAAP net income increased 28.0% to ILS 28.8 million
Adjusted Net income1 (attributable to shareholders) increased 26.0% to ILS 25.8 million
Adjusted EPS1 (attributable to shareholders) increased 26.2% to ILS 0.19
Adjusted EBITDA2 increased 18.4% to ILS 46.5 million
2024 Full Year Summary
Revenue increased 18.9% to ILS 1.33 billion
Comparable store sales increased 9.9%
Gross margin was 41.8%
GAAP net income increased 31.6% to ILS 121.1 million
Adjusted Net income1 (attributable to shareholders) increased 35.2% to ILS 109.0 million
Adjusted EPS1 (attributable to shareholders) increased 35.0% to ILS 0.78
Adjusted EBITDA2 increased 26.0% to ILS 190.8 million
Note:
Totals may be sightly impacted by minor rounding differences.
1
As used throughout this release, adjusted Net Income (attributable to shareholders) defined as Net Income + Share-based payment, multiplied by the portion attributable to shareholders. Adjusted EPS (attributable to shareholders) is then divided by the number of basic shares.
2
As used throughout this release, adjusted EBITDA Pre IFRS 16 defined as Net Income + Income Tax Expenses + Net Interest Expenses + D&A + Other Expenses, the impact of IFRS 16 + Share-based payment.
Ori Max, Chief Executive Officer, stated, "We delivered strong fourth quarter results to conclude an outstanding year for Max Stock. Our recent performance was highlighted by a double-digit increase in comparable store sales, which along with our successful store expansion strategy, fueled top-line growth of more than 20%. This allowed us to offset some gross margin pressure from temporary costs associated with our distribution center consolidation to maintain adjusted EBITDA margins in the mid-teens. While our fourth quarter results were impressive, our teams performed at a high level all year. These efforts resulted in the strongest annual topline and adjusted EBITDA results in our corporate history -- ...
