
Daily Coffee Report 8/11/26
Daily coffee report

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By: Alexis Rubinstein, Managing Editor - Coffee Network
CoffeeNetwork (New York) - This morning, Strauss Group (TASE: STRS) published its financial statements for the third quarter and first nine months of 2023, summing up the quarter with NIS 2,675 million in revenue and cumulative revenue of NIS 7,854 million since the beginning of the year. Strauss sales grew 7.3% compared to the corresponding quarter and 11.5% in the first nine months compared to the corresponding period last year, as the growth trend in the Group's business in Israel, China, Brazil and the US continues.
Strauss Group CEO Shai Babad: "Since the beginning of the war in Israel we have maintained business continuity. Our dedicated people are working across the country to keep on providing food and beverages and ensuring the food security of the residents of Israel. We have set up a dedicated fund for the farmers of the Gaza envelope, communities around the Gaza strip, and are also donating and helping the families that were evacuated as well as our soldiers and reservists. Our heart goes out to the families of the murdered and abducted, and we wish the wounded a speedy recovery.
Gross profit in the third quarter was NIS 855 million (32% of sales), and operating profit was NIS 212 million (8% of sales). Since the beginning of the year, Strauss delivered gross profit of NIS 2,531 million (32.2% of sales) and operating profit of NIS 591 million (7.5% of sales). Net income attributable to shareholders in the quarter was NIS 120 million, and in the nine months – NIS 339 million.
Strauss Coffee
Strauss Coffee posted revenues of NIS 1,278 million in the third quarter, reflecting a slight drop of 2% versus the same quarter last year, among other things as a result of the decline in the coffee company in Russia. Strauss Coffee ended the third quarter with operating profit of NIS 90 million, down 37% compared to last year, the result of exchange rates, green coffee prices and the effects of the war in Russia last year.
In Israel, the coffee company's revenues in the third quarter were NIS 210 million, up 5% compared to the corresponding period last year. Operating profit was NIS 30 million, an increase of 29% versus last year.
The international coffee business outside Israel delivered NIS 1,068 million in revenue in the third quarter, down 3.6%, and operating profit was NIS 60 million, a decline of 50% compared to the corresponding period. The coffee operation in Brazil delivered revenues of NIS 713 in the quarter, up 2% over last year, and most of the businesses in Eastern Europe also delivered growth.
Três Corações's average value market share of the Brazilian roast & ground (R&G) coffee market in the first nine months of 2023 was 33.7%, compared to 32.5% in the corresponding period last year.
Alexis Rubinstein
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Daily coffee report


August 11 – It was generally a quiet night for the markets until early this morning when a headline hit that Iran and Oman were close to reaching a deal. Stock futures rallied, while the dollar index followed Treasury yields lower, along with active selling in the energy- and food-based commodities. The headline had limited impact though in a world that has become skeptical of promises of peace. Stock futures remain steady to firmer at this hour, while the VIX trades near 16 – just above 2026 lows. The dollar index is trading near 99.8 this morning, after recovering from its early morning selloff over the following hour of trade. Yields on 10-year Treasuries are trading near 4.69%, while yields on 2-year Treasuries trade near 4.22%. WTI crude oil is trading near $82 per barrel at this hour, while Brent trades near $88. The grain and oilseed markets are mostly weaker, after failing to recover from this morning’s early selloff that started in the crude oil market.


Daily coffee report

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