Tadiran – close to NIS 1 billion in revenue b

Holdings data in Tadiran Holdings shares

According to FUNDER website data,
209 mutual funds hold NIS 176.68 million in Tadiran Holdings 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 the Tadiran Holdings share according to FUNDER-MVF data

Moshe Mamrod, the company’s CEO and controlling shareholder, said: “We sum up 2020 as a record year with excellent results with the continued upward trend in sales of air conditioners quantitatively and financially. We continue to be the first choice of customers and expand our market share. A few weeks ago we launched an innovative product that includes a unique air treatment patent that purifies the air and kills. 99.999% of bacteria and viruses in enclosed spaces.The new technology has been tested and approved by an FDA-registered lab and its effectiveness has been proven to be high relative to existing products on the market.

In addition, this year we entered the growing field of renewable energy with the acquisition of 75% of Tadiran Solar, which is another step in the realization of the company’s growth strategy. Tadiran Solar’s activity was quickly absorbed by the company and we identify many synergies and an opportunity to bring great added value to all the group’s customers. Looking ahead, we will continue to focus on innovation, strengthening our product range and creating quality and differentiated solutions in the field of air treatment, indoor air quality and energy worlds. Following the progress in the implementation of the strategy, the company announces the advance of the target date for the implementation of the strategic plan by two years – 2023. Tadiran is focused on leading the activity markets through investment in product development, business development and realization of growth potential.

Tadiran released record results for 2020 and the fourth quarter. A few weeks ago, the company launched the first product in Air Care O2 technology in a series of products for treating air quality. This is a groundbreaking international patent, developed for three years in Israel, for purifying air using hydrogen peroxide that purifies the air and kills about 99.999% of the viruses and bacteria in enclosed spaces. The technology has been successfully tested in an FDA approved laboratory. Air Care O2 is a significant growth engine for Tadiran in the coming years in Israel and in the international market as a technology company leading the ‘Healthy Home Revolution’.

The innovative technology was first implemented in the TENIRAN SENSE inverter mini central air conditioner. Tadiran intends to present a variety of solutions for handling air in the home space and other enclosed spaces, where we spend many hours of the day and during the year the technology will be assimilated into additional series of air conditioners. While other existing technologies (such as UV) only treat the air that passes inside the air conditioner itself, the AIR CARE O2 treats air throughout the enclosed space.

In addition, following the progress in the implementation of the strategy, the company announced the advance date of the strategy implementation target of approximately 2 billion revenues in two years for 2023 compared to the original reported date – 2025. Tadiran presented in 2020 close to NIS 1 billion in revenue and NIS 101 million profit net. The strong results are also reflected in the increase in all profit indices compared to 2019.

The following is a summary of the results of operations for the fourth quarter and for 2020 (compared to the corresponding periods in 2019):

Sales turnover in 2020 Amounted to NIS 989.5 million, compared with a total of NIS 853.6 million last year, an increase of 15.9%. The increase in the Group’s revenues was mainly due to a quantitative and financial increase in sales of air conditioners. In 2020, a quantitative and monetary record in sales in the air conditioners sector compared to similar periods. Sales turnover in the fourth quarter of 2020 grew by approximately 23.0% and amounted to approximately NIS 199.4 million, compared with approximately NIS 162.1 million in the corresponding quarter last year. This is a record quarterly quantitative and monetary quarter in the sale of air conditioners compared to parallel quarters.

Gross profit in 2020 Plant grew by approximately 26.6% amounted to approximately NIS 281.8 million (rate of approximately 28.5%) compared with approximately NIS 222.7 million (rate of approximately 26.1%) in 2019. Gross profit in the fourth quarter of 2020 increased by approximately 30.8 % And amounted to approximately NIS 58.9 million (rate of approximately 29.5%) compared with approximately NIS 45.0 million (rate of 27.8%) last year. The improvement in gross profit and the gross profit rate in 2020 and in the said quarter were mainly due to an increase in the volume of revenues from the sale of air conditioners.

EBITDA in 2020 Grew by about 46.8% and amounted to about NIS 160.9 million (rate of about 16.3%) compared to about NIS 109.6 million (rate of about 12.8%) in 2019. EBITDA in the fourth quarter of 2020 grew by about 37.7% and amounted to approximately NIS 31.6 million (rate of approximately 15.8%), compared with approximately NIS 22.9 million (rate of approximately 14.1%) in the corresponding quarter last year.

Financing expenses, net in 2020 Amounted to NIS 9.6 million, compared with NIS 9.4 million in 2019, an increase of 2.2%. In the fourth quarter of 2020, financing expenses amounted to NIS 7.4 million, compared with NIS 2.1 million in the corresponding quarter in 2019. Most of the increase in the fourth quarter of 2020 compared to the fourth quarter in 2019 was due to the registration of foreign exchange hedging expenses. Compared with the recording of revenues in the corresponding period last year, this increase is partially offset by the recording of revenues in respect of suppliers’ exchange rate differences compared with the recording of expenses in the corresponding period last year.

Net profit in 2020 Jumped by about 42.6% and amounted to about NIS 100.6 million (rate of about 10.2%) compared to about NIS 70.5 million (rate of 8.3%) in 2019. Net income in the fourth quarter of 2020 amounted to about 15.9 million NIS (rate of about 8.0%) compared to about NIS 20.0 million (rate of about 12.3%) in the corresponding quarter in 2019. The decrease is mainly due to a decrease in income from taxes in the fourth quarter of 2019, which amounted to about NIS 2.3 million. As well as an increase in taxable income compared to tax expenses in the amount of NIS 3.5 million recorded in the fourth quarter of 2020.

The Company’s Board of Directors has decided to distribute a dividend to the Company’s shareholders in the amount of NIS 50.0 million (approximately 5,865 per share), due on March 22, 2021. Based on the results of 2020, the total dividend distributed to the Company’s shareholders amounts to NIS 73.5 million. , Which constitutes about 73% of the company’s net profit in 2020.

Cash flow The Group’s current operations in 2020 amounted to approximately NIS 202.0 million, compared with a cash flow of approximately NIS 116.5 million in 2019. The improvement in cash flow from operating activities was mainly due to an improvement in net income as well as changes in working capital.
Equity as of December 31, 2020 amounted to approximately NIS 398.5 million, compared with approximately NIS 342.1 million as of December 31, 2019. The increase is due to the net profit generated in the group by offsetting dividends distributed.

In June 2020, the Company raised debt through the issuance of a series of debentures (Series 3) – shekels that are not index-linked in the amount of NIS 120 million. In A1 rating on a ‘stable’ horizon intact.