Big Shopping Center (Flash Photography 90 / Yossi Aloni)
Big Shopping Centers published its financial statements for the fourth quarter and for the entire year 2021. The following are the main results of an effective consolidation (including Epi Properties) as published in the Company’s presentation and in the report of the Board of Directors:
The following are the main results for the fourth quarter of 2021:
Revenues in the fourth quarter doubled to NIS 372.4 million, compared with NIS 187.8 million in the corresponding quarter in 2020. Most of the increase is due to the consolidation of Efi Properties’ results, a decrease in the Corona effect on the Group’s revenues, continued expansion of operations Realistic.
God-WE In the quarter, it climbed by 93% to NIS 259.6 million, compared with NIS 134.4 million in the corresponding quarter in 2020 for the same reasons mentioned above that led to an increase in revenues.
God-FFO Reality in the quarter rose by 66.8% to NIS 155.5 million, compared with NIS 93.2 million in the corresponding quarter in 2020.
The company ended the fourth quarter of 2021 with a sharp jump in net profit to NIS 579.6 million, compared with a net profit of NIS 54.3 million in the corresponding quarter last year. It should be noted that during the quarter there was an increase of NIS 456 million in the value of investment real estate and construction property, compared with an increase of NIS 5 million in the corresponding quarter last year. Most of the increase is due to the revaluation of properties in Israel and Serbia and the first consolidation of the results of Efi Properties.
The following are the main results for 2021:
Revenues in 2021 increased by 87% to NIS 1.34 billion, compared to NIS 714.7 million in 2020. Most of the increase is due to the first consolidation of EPI assets, a decrease in the effects of the corona, as well as the acquisition of two properties in Serbia and the opening of Big Yehud during 2021.
God-WE During the period, it grew by 86.7% to NIS 969.7 million, compared with NIS 519.5 million in the previous year. God-FFO Reality in the period increased by 74.2% to NIS 562.3 million, compared with NIS 322.8 million in the corresponding period last year. The company ended 2021 with a net profit of NIS 1.05 billion, compared to a net loss of NIS 9.1 million in 2020.
The occupancy rate for properties at the end of the year in Israel is approximately 100%, in Serbia about 98% and in the United States about 94%, while as of the date of publication of the report, the occupancy rate in the United States has risen to 96.4%.
Revenues at the Big Centers in Israel – In 2021, the company’s revenue increased by 17.2% compared to 2020, and by 5.6% compared to 2019, despite the fact that the company’s shopping centers were closed for 50 days during the period in 2021. Big Effective Part) As of December 31, 2121: the total balance sheet amounted to NIS 21.9 billion.
The investment real estate and investment real estate items in the development (the effective share of the company) amounted to NIS 17.5 billion. The company has a wide geographical distribution, with about 54% of the assets in Israel, about 16% in Romania, about 13% in Serbia, about 9% in the United States and the rest in the Czech Republic and Poland. The company also increased its sectoral distribution To about 24% of the total value of the assets.
More in-
The equity attributed to the company’s shareholders stands at NIS 6.64 billion, compared with NIS 3.99 billion at the end of 2020. Most of the increase is due to the issuance of share capital and options as part of an exchange purchase offer for shares.
Epi Properties in the amount of NIS 1.7 billion, an issue to an institutional entity in the amount of NIS 300 million and another issue in the framework of the acquisition of the partner’s share in Serbia in the amount of NIS 96 million. In addition, the exercise of warrants (Series 5) contributed to an increase in capital of approximately NIS 133 million, and the balance of the increase originated in net profit during the period. On the other hand, there was a decrease following the erosion of the exchange rate and an additional NIS 200 million following the distribution of a dividend.
The company maintains high liquidity and financial flexibility: as of the end of 2021, the company has cash balances and deposits amounting to NIS 1.06 billion and signed and available credit facilities amounting to NIS 950 million. In addition, as of the date of publication of the report, the Company has unencumbered assets amounting to approximately NIS 1.76 billion, of which approximately 1.3 billion are income-producing assets, as well as holdings in tradable shares of epic assets that are not encumbered with a total value of approximately NIS 3.9 billion (approximately 54.38%). , The lines of credit and available assets do not include balances of epic assets.
More in-
“Realization of operations in the United States in accordance with the strategic decision made by the company in the matter: up to the date of publication of the report, the company entered into contracts and / or completed the sale of 15 properties in the amount of $ 464 million (the company’s share).” B. In addition, the company entered into binding contracts for the sale of 3 additional properties. The Company intends to direct the financial sources arising from the realization of its operations in the United States, inter alia, to expand its operations in the other geographic markets in which the Company currently operates.
Big Shopping Centers, managed by Chai Gallis, was established by Mr. Yehuda Naftali and operates mainly in commercial centers in Israel, the United States and Serbia. The group’s shopping centers are divided into two main groups: , Which are usually located near major arteries and allow easy access and free parking for the benefit of visitors.The second group includes malls and shopping centers of the type Life Style Which combine entertainment and shopping with an emphasis on customer experience. With the acquisition of control of Effie Properties, the company significantly expanded its activities in the field of offices.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment