Telrad: Works amounting to NIS 90 million – the capital market

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Telrad Networks
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It is reported that the subsidiary Magalcom will carry out NIS 90 million for the construction of the multimedia and communications system in the IDF’s ICT Campus in the Negev. The construction phase is expected to begin in about a year and a half and last for two years, after which the maintenance agreement will last for 21 years. Project planning: The company’s share rises by about 7.5% on the stock exchange following the announcement.

Following the current transaction, the backlog of orders in the field of communications and IT of the parent company Telrad amounts to approximately $ 90 million, and the total backlog of orders from the three operating segments is $ 191 million.

“Winning this project is another significant pillar in Magalcom’s dominance as a key provider of solutions in IT-supported areas including multimedia, communications, data center, security systems, smart cities and complex technology projects,” said Zeev Schechter, CEO of Magalcom. “We continue to expand. Our activities, and we are competing to win other significant projects as part of the company’s growth strategy. ”

Magalcom, provides integrative solutions and services in communications, computing and security systems, and serves as an operating contractor for the IDF’s communications infrastructure as part of a multi-year contract. In the past year, it has signed agreements for two long-term projects with the Ministry of Defense, estimated at NIS 185 million: one To provide service and perform communication infrastructure work for two years (with an option for another two years) and the other to provide service and perform technological work that combines installation of cameras, video management systems and analytics solutions for 3 years (with an option for another year).

Last September, the company also won a tender from the Israel Electric Corporation in the amount of NIS 40 million to carry out a project to establish a central data center on the new IEC campus in the Sorek complex.

Along with the communications and IT infrastructure activity, in which Telrad operates through Magalcom and its subsidiary Oasis, Telrad operates in two other operating segments: the first is the field of products, solutions and services for communications operators, and the second is business process outsourcing and project management (through the companies Marmanet and Gaude).

In the first three quarters of 2020, Telrad showed growth and improved profitability. Revenues in the third quarter increased by about 11% compared to the corresponding quarter last year to about $ 47.8 million, which is a record for the company since the IPO. Net income in the third quarter of 2020 amounted to approximately $ 2.5 million.