The Government Companies Authority, under the management of Michal Rosenbaum, demands that the management of the aerospace industry change the format of the distribution of grants to employees – this is what “Maariv” learned. Rosenbaum demands that the distribution also reflect the employee’s relative contribution to the company according to the opinion of his superior and not in a completely equal way.
According to estimates, the company decided to distribute a bonus estimated at NIS 60 million. This, after the employees gave their consent for the company to distribute a cash dividend of NIS 650 million to the state. The company’s chairman, Amir Peretz, told “Maariv” that the bonuses for employees are also acceptable in public companies.
According to Peretz, “The NIS 650 million dividend received by the state – helped lower the cost of living and fuel prices. The employees are a key part of its success and bear the main task of doing things in Israel and the world, and they are definitely responsible for business success. The criteria for the distribution will include an assessment of excellence and a significant contribution to society, and things will be done in coordination with the government companies authority,” Peretz added. “I instructed the CEO of the company and the CFO to prepare a staff work to carry out the distribution in accordance with the regulation.”
The aerospace industry is in the final stages of an IPO that will take place towards the end of the year. This will happen after receiving an opinion from the Attorney General regarding details of the company’s activities that should remain confidential and not be expressed in the offering prospectus. According to the chairman, “Keeping some of the activity details confidential will increase the attractiveness of the IPO by making investors understand that not all of the company’s business potential is reflected in the IPO prospectus. We are in talks for export deals with a number of countries including Morocco (where Defense Minister Benny Gantz recently visited) and the Gulf countries and countries in Europe.”
The aerospace industry’s profits jumped in the second quarter of 2022 by 29% to 129 million dollars. The volume of sales increased by 9% to 2.6 billion dollars – the highest ever in its history. CEO Boaz Levy: “The figures reflect a continued increase in the company’s net profit, along with an increase in the volume of sales. The second quarter of the year brought an increase in profitability in the aviation division, which is a product of the increase in demand in the global aviation industry.