According to the reports, total revenues in the fourth quarter reached NIS 177.8 million, a growth of 40% of revenues in the corresponding quarter, which reached NIS 126.6 million. Gross profit was NIS 40.3 million, compared with NIS 32.9 million a year earlier. The company recorded an increase in real estate value of NIS 13.9 million in the quarter. Operating profit was NIS 41.3 million compared to NIS 15.4 million in the corresponding quarter and net profit reached NIS 40.3 million – a jump of close to 300% from a net profit of NIS 10.2 million in the fourth quarter of 2020.
Annual revenues were NIS 652.8 million, an increase of 38% compared to 475 in the previous year. Gross profit was NIS 143.6 million, a growth of 41% compared to NIS 102 million in 2020. The annual increase in real estate value was NIS 13.3 million. The annual operating profit was NIS 110.3 million and the annual net profit was NIS 81.7 million – a jump of 140% compared to profit Net of 33.9 last year.
The company sold a total of 236 housing units in 2021, compared with 104 housing units in 2020 and 83 housing units in 2019.
Amos Dabush, CEO of Cardan Real Estate: “We conclude 2021 with an all-time record in apartment sales, with the positive trend continuing even after the balance sheet date. This year we showed a sharp increase of about 38% in revenue when record sales in 2021 The company’s financial statements for 2021 have not yet been fully reflected, given the pace of progress in the implementation of the projects in which the apartments were sold.
Looking broadly, over the past two years the company has ‘jumped a step’ in the volume of activity in the residential sector, when from the sale of about 83 housing units in 2019 we moved to the sale of 104 housing units in 2020 and about 236 housing units in 2021 – an increase supported by actions taken in the last two years. Alongside a supportive business environment with high demand for apartment purchases. In addition, during the year 2021 we purchased plots of land and land for the construction of projects amounting to thousands of additional housing units that will gradually mature for execution and yes, went on the market over the next few years. At the same time, the company has won many projects in the field of urban renewal in many cities in the country and to the extent of thousands of additional housing units. “The company has an expected gross profit of NIS 2 billion from projects under construction, planning, including land reserves and suspended projects, the construction of which will begin in the coming years, at the same time as we continue to develop and expand the company’s activities.”
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