According to FUNDER website data,
191 mutual funds hold NIS 155.46 million in direct financing shares
Funds that hold significant holdings in the stock – for the full list of holdings
The following is a change in the holdings of mutual funds in Azorim shares according to FUNDER-MVF data
Areas Company
Publishes its financial results for 2020. The company’s profits for 2020 from its current operations amounted to NIS 134 million before deducting a one-time loss of NIS 23 million following the issuance of the Harit Fund, compared to a net profit of NIS 118 million in 2019 – an increase of 13.5%. Areas with a net profit of NIS 58 million ended the fourth quarter of 2020, compared with NIS 36 million in the corresponding quarter last year – an increase of more than 60%.
The company’s total revenue increased in 2020 to about NIS 1.25 billion, compared to about NIS 1.23 billion in 2019 – an increase of about 1.4%.
During 2020, the company sold 976 apartments with a financial volume of NIS 1.8 billion, compared with 995 apartments in 2019 with a total financial volume of about NIS 1.7 billion – an increase of about 4.4% in the financial volume. The average price (excluding VAT) of an apartment sold by the company during the reporting period was NIS 1.86 million, compared with 2019, when the average price per apartment amounted to NIS 1.7 million – an increase of 9.4%.
In the period after the date of the report until the date of publication of the report, 183 additional apartment sales contracts were signed in the amount of NIS 342 million (although by the middle of the month, the number of sales is higher than 152 apartments signed during the first quarter of 2020). Earlier this week, the company announced that as part of an operation in cooperation with a member of Permanent Servants and Retirees Ltd., purchase applications were signed for 479 housing units in the Torque project in Bat Yam for a total consideration of NIS 1.05 billion (including VAT).
In contrast to the increase in the volume of activity, in 2020 the company managed to reduce the volume of operating costs by 11% and the volume of net financing costs by 15%.
The equity attributed to the company’s shareholders for 2020 increased by 7.7% to NIS 1.39 billion, compared with NIS 1.29 billion in 2019. The increase in equity is due to a profit for the period in the amount of NIS 111 million. In addition, during the reporting period, the company’s current operations generated a significant cash flow in the amount of NIS 402 million.
During the year, the company received the trust of the capital market when it raised NIS 550 million in two bond raises. Despite the aforesaid debt raises, there was a significant decrease in the total debt of the company, which amounted to NIS 1.7 billion in 2020 compared to NIS 2.2 billion in 2019. The debt, there has been a significant improvement in the company’s liquid assets, which include the balance of cash, unutilized credit facilities and excess capital invested in projects and are available to the company in the total amount of NIS 470 million.
Against the background of the impressive results in 2020 and the actions taken by the company, there was also a significant improvement in the financial ratio, with a working capital ratio of approximately 1.7 and a debt ratio to net CAP of less than 52%.
During 2020, the company began the construction and marketing of approximately 1007 housing units in a number of leading projects in Israel. At the same time, the company worked to promote the planning and licensing of significant projects, mainly urban renewal projects whose implementation and marketing is expected to take place in 2021 and at the same time residential projects free market and price per occupant. The company estimates that the expected operation of projects in the coming year includes more than 2,800 apartments for construction and about 2,200 apartments for marketing, most of them in significant evacuation-construction projects in areas of demand.
As part of its long-term residential rental business, in February 2020 the company completed a public offering of the residential rental business under the Harit Azorim Living Fund, in which NIS 400 million was raised and the company invested NIS 260 million in Living Capital.
The fund’s profits for 2020 amounted to NIS 70 million as a result of the progress of the construction of the projects in Or Yehuda and Rishon LeZion. These days, the Harit Fund has begun marketing about 600 apartments for long-term rent in projects in Or Yehuda and Rishon LeZion, which are expected to be completed in the second half of the year. 2021. In addition, the Harit Fund entered into transactions for the purchase of additional apartments that are in the planning stages in such a way that the total number of apartments of the Fund after the completion of these projects will stand at more than 1,500 apartments.
As part of the income-producing real estate activity, in parallel with the activity of the property in Herzliya Hills, the construction of the commercial centers in the “Block” project in B’Shlosha and Mevaseret Zion, which are expected to be operational during 2021, has been completed.
Ron Avidan, CEO of Azorim: “Azorim concludes a very challenging year of activity with impressive results that were reflected in both sales and profit. We managed to achieve extraordinary achievements in the core field of residential real estate, including the successful launch of the flagship Exchange project at Elite Junction, populating about 740 housing units Under Corona’s restrictions and the start of construction of more than 1,000 apartments in new projects.
The field of urban renewal, in which we have invested heavily in recent years, began to bear fruit with the MOMENT project in Bat Yam, the establishment of which is expected to begin with the completion of the evacuation of the veteran tenants. The project was marketed to ‘friend’ colleagues in an innovative and unique digital way, using software developed for this purpose, while illustrating our ability in the regions, to lead the residential real estate market in innovation, while making adjustments to the unique constraints, challenges and time period.
In addition, we were able to issue the long-term rental housing activity, an area of activity that we strongly believe in, and this year we substantially increased the scope of this activity under Living Areas. In the field of income-producing real estate, we continue to increase the scope of activity, especially in mixed-use projects, and enjoy growing demand for commercial space in a residential environment. “