Electra Consumer Products: 20% Profit Jump as Carrefour Gains Momentum
Electra Consumer Products concluded the second quarter of 2026 with revenues of approximately 1.8 billion shekels, a 38.5% jump in operating profit, and a net profit of 30 million shekels. The Carrefour chain, managed by Global Retail, continues to drive group performance, while the sports sector has returned to profitability.
Electra Consumer Products, controlled by Daniel Zalkind's Elco Group, has released its financial results for the second quarter of 2026, showing a significant improvement in the bottom line despite moderate revenue growth.
The group's quarterly revenue rose by approximately 1.7% to 1.8 billion shekels, while operating profit before other income surged by 38.5% to 82 million shekels. Net profit climbed by 19.4% to 30 million shekels, even without the benefit of the one-time real estate revaluation that boosted figures in the same quarter last year.
The company announced a dividend of 45 million shekels (1.97 shekels per share) to be paid in early October. For Israeli savers, this consistent profit distribution serves as a clear signal of cash flow stability within the group's institutional holdings.
Carrefour and Retail Performance
The standout performer was the Carrefour food chain, operated by Global Retail. The chain recorded its eighth consecutive quarter of net profit, reaching 8 million shekels—a 63% increase from 5 million shekels last year.
However, revenue figures were more nuanced, with sales turnover falling by 2.6% to 818 million shekels, largely due to the timing of the Passover holiday and store divestments. While the "Basket of Israel" project successfully attracted more customers, it also exerted pressure on gross margins.
The electrical retail sector, including Mahsanei Hashmal, saw half-year revenues rise by 6.1% to 1.32 billion shekels, with sectoral profit reaching 58 million shekels, driven by increased direct import sales.
Sports, Leisure, and Future Growth
The sports and leisure sector, including Adidas, delivered its strongest second quarter to date, with a sectoral profit of 11 million shekels and a 26.2% jump in same-store sales.
In the electrical consumer goods sector, while sales dipped by 3.9%, sectoral profit improved to 14 million shekels. Looking ahead, the company has secured a franchise to distribute Samsung cooling solutions for data centers, tapping into growing demand in the AI sector.
CEO Zvika Schwimmer stated: "We are concluding the quarter with double-digit growth across all operational parameters. Carrefour continues its upward trend, and under the leadership of new CEO Inbal Harson, the company is poised for its next growth phase. We are also in the final stages of acquiring 50% of a company holding franchises for international lingerie brands and are exploring opportunities to expand Adidas's footprint internationally."
