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Tadiran Group
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Reports an 86% increase in sales in the fourth quarter of 2021, which amounted to NIS 371 million, compared with NIS 199 million a year earlier. The improvement is attributed to both an increase in sales and a consolidation of the results of the renewable energy company Tadiran Solar (formerly Eliran Solar). Operating profit for the quarter grew at a lower rate of 29.4% and amounted to NIS 35.2 million, compared with NIS 27.2 million a year earlier.
The reason for the gap is a reduction in the operating profit margin, due to Eliran Solar’s operations. Thus operating profitability of 13.6% in the last quarter of 2020, the figure has dropped to 9.5% now. Even earlier, these were the margins of gross profit that decreased from 29.5% to 21.9%. The gross profit itself grew 37.7% to a total of NIS 81 million. A similar picture in EBITDA, which in the fourth quarter grew by about 40.3% and amounted to about NIS 44.3 million (a rate of about 11.9%), compared with about NIS 31.6 million (a rate of about 15.8%) in the corresponding quarter last year.
At the margin of net profit, there was actually an improvement. The net profit for the quarter amounted to NIS 30.9 million (8.3% of turnover) compared to NIS 15.9 million (8.0%) in the corresponding quarter in 2020, thanks to an increase in the value of the investment in the Southern Israel Bridging Fund 2. The company’s board decided NIS 33.7 million (NIS 3.92 per share).
Segmentation of Tadiran revenues by quarters in 2021:
Tadiran expects that already this year they will reach a sales turnover of NIS 2 billion (in 2021 as a whole it was NIS 1.45 billion, an increase of 46%). The company says that if the goal is achieved, it will be a 3-year introduction to the deadline they set for themselves.
Moshe Mamrod, CEO and controlling shareholder: “Through Tadiran Solar and the acquisition of Aviam Systems, which operates, among other things, in the field of uninterruptible power supply systems and energy storage systems, we established a large energy arm within about a year, which will expand to 50% of the group’s activity. In the core activity in the field of mergers. ”
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