Delta Galil Industries, Ltd. (DELG/Tel Aviv Stock Exchange), the global manufacturer and marketer of branded and private label intimate, activewear, loungewear and denim apparel for ladies, men, and children, reported financial results for the third quarter ended September 30, 2024 – record third quarter sales increasing by 13% driven by growth across all channels (to $524.2 million) and a record third quarter gross margin of 41.6%.
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Earnings before tax increased to $52.3 and $8.1 million dividend declared. Isaac Dabah, CEO of Delta Galil, stated:
Delta Galil delivered record third quarter revenue, gross profit and gross margin, leading to a 14% increase in EBITDA, excluding IFRS 16, compared to the prior year quarter. Record top-line results were driven by growth across all channels including record third quarter DTC sales. In addition, we have produced five consecutive quarters of record gross margin reflecting the continued success of the strategies we are pursuing to enhance our operating efficiencies and realign our manufacturing capabilities.
I am encouraged by the strong operating and financial results we have achieved through the first nine months of 2024. This is a testament to the diversified business model we have developed, the strategies we are pursuing and the talent of our global workforce. During the third quarter, we published our 2023 ESG report highlighting our commitment to a greener, inclusive, and ethical world. We also announced a strategic partnership with Reliance Retail Ventures, the largest retail company in India that is aimed at driving growth and introducing our legacy of innovation within the intimate apparel sector to the Indian market.”
