Ofer Nimrodi (photo by Rami Zerniger)
Hachsharat Yishuv publishes the 2021 report and summarizes a strong year in revenues, which is mainly due to the increase in the value of real estate. The company’s revenues increased by 35% to NIS 478 million, of which the net profit in 2021 increased sharply to NIS 460 million (NIS 222 million for shareholders), compared with a net profit of NIS 116 million (NIS 24 million). NIS million to shareholders) in a previous year.
The increase in the value of real estate for investment in 2021 amounted to NIS 602 million, of which NIS 149 million in respect of properties in Israel and NIS 452 million in respect of properties abroad. The NOI continued to grow and amounted to NIS 196 million in 2021, compared with NIS 175 million the previous year.
The total cash and the value of cash and short-term investments in the consolidated balance sheet amounted to NIS 557 million. The company has unutilized credit facilities in Israel in the amount of NIS 220 million, as well as unencumbered real estate assets in Israel in the amount of NIS 357 million, and holdings in tradable shares without any debt in the amount of NIS 1 billion.
The company also reports that shareholders’ equity amounted to NIS 2 billion in 2021 (of which NIS 1.2 billion is attributed to shareholders). NIS 100 million; The subsidiaries “Hachshara Renewal” and MLP raised capital during the year in the amount of NIS 29 million and NIS 105 million, respectively.
The company raised NIS 422 million in 2021 through the expansion of series 22 and 23 bonds. The company is also expected to include a net profit of NIS 113 to 120 million in the first half of 2022 due to the sale of its land rights in Herzliya and BBC offices, signed during the quarter The first of 2022
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Ofer Nimrodi, CEO of Yishuv Training: “Yishuv training has grown significantly in recent years, thanks to the successful completion of significant business and financial moves in accordance with the strategy, which are reflected in the financial results, with an increase in all parameters.
“We successfully promote business development plans, in Israel and abroad, are in a peak period in terms of the scope of project execution, and are doing all this while significantly strengthening the company’s capital, financial strength, and liquidity. All of our business activities, both in the field of income-producing properties in Israel, the logistics parks in Europe, urban renewal in Israel and residential development in Poland, are in a strong positive trend of growth, and are expected to remain as supported by macro trends.
“As a company with a very long history, the settlement prepares real estate properties and land for future development in Israel, which will allow the company to continue significant growth in the coming years on the basis of these properties. In accordance with the strategy, we will double the NOI in Israel, and we will double the value of the logistics activity in Europe over the next 4 years and we will continue to strengthen our position as a leading player in the field of urban renewal in Israel. ”
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