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Reports revenues of NIS 1.22 billion in the fourth quarter of 2020, compared to NIS 1.23 billion in the corresponding quarter last year, a decrease of 8%. Operating profit for the quarter amounted to NIS 222 million, compared with NIS 401 million in the corresponding quarter in 2019, a drop of 41%.
The net profit attributable to shareholders in the quarter amounted to NIS 142 million (total net profit of NIS 144 million), compared with net profit to shareholders in the amount of NIS 196 million (total net profit of NIS 316 million) in the corresponding quarter in 2019, a drop of 27%. Simultaneously with the publication of the reports, the company reported a dividend of NIS 130 million.
Results for the whole of 2020
The company’s revenues in 2020 amounted to NIS 4.63 billion, compared with NIS 4.86 billion in the corresponding period in 2019. Gross profit in the period amounted to NIS 894 million, compared with NIS 927 million in the corresponding period in 2019. The decrease in revenues and gross profit is mainly due to Ashdar And from the overseas contracting sector.
Ashtrom’s operating profit in the period amounted to NIS 681 million, compared with NIS 978 million in the corresponding period in 2019. According to the company, the decrease is mainly due to changes in the increase in real estate value for investment of NIS 102 million, and the decrease in affiliates’ profits of NIS 159 million. NIS.
Net profit attributable to shareholders of NIS 329 million (total net profit of NIS 345 million), compared with net profit to shareholders of NIS 502 million (total net profit of NIS 667 million) in the corresponding period in 2019 .
Rami Nussbaum, Chairman of the Board of Directors of Ashtrom: “In February 2021, we reported on the announcement by the Government of Israel to CityPass that it seeks to exercise the right to make a repurchase (BuyBack) regarding rights in the red line of the Jerusalem light rail project. In accordance with this agreement, the State of Israel will pay the company and its partners a total Following the sale, the company is expected to post a consolidated net profit (attributable to shareholders) of NIS 510 million, of which NIS 23 million was credited in 2020, and cash flow of NIS 940 million in the next two years. At the beginning of the year, we intend to enter the field of renewable energy, and work to develop this activity in Israel and abroad. We see great potential in this area and find it synergistic with our core activities. “
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