ALD: Net profit increased 7 times to 5.7 m – capital market

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The cyber company parent security will be merged into it, reporting its financial results from its operations even before the merger in 2020: Revenues fell by 10% to NIS 112 million compared to NIS 125 million in 2019, however, net profit was seven times greater and amounted to 5.7 million NIS compared to a relatively low profit of NIS 784,000 last year. The backlog of orders for 2021 amounts to NIS 147 million, the highest figure for the company, which reflects an increase of about 150% compared to 98 million in 2020.

Operating profit also increased by 170%, as well as cash flow from operating activities, which grew by 840% from NIS 1.9 million in 2019 to NIS 16.1 million in 2020. At the end of the period, ALD held cash balances and cash equivalents in the amount of NIS 10.7 million, an increase of 244% compared to 4.4 million in 2019.

Yesterday, ALD announced a preliminary agreement with a government company in Russia to examine cooperation in a project to convert transport aircraft to passenger aircraft. No amounts were reported in the contract, but according to ALD the terms will be agreed later in the year and the contract may have a material effect on the results later this year.

As mentioned, ALD will be merged with the parent security. The transaction is valued at $ 145.3 million (after cash). The parent will become a subsidiary of ALD, and its shareholders will become the controlling shareholders of the merged company with 51% of the holdings.

ALD provides services, consulting and software in the field of systems reliability and its annual turnover is about NIS 125 million. The company’s customers are government entities and other large entities, some of which have been working with the company for 20 years. About a month ago, the company extended an existing contract with a government company in Israel for an estimated amount of NIS 4 million in 2021. The contract with the employment service was also extended by an estimated NIS 7 million this year.