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The company engaged in the production and marketing of concrete products for environmental development and profitable real estate, published its financial reports according to which it brought in NIS 228.3 million compared to revenues of NIS 161.8 million in the corresponding quarter last year – an increase of 41%.
The company’s gross profit amounted to NIS 58.7 million (about 25.7% of revenues), compared to a gross profit of NIS 46.6 million (about 28.8% of revenues) in the corresponding quarter. The operating profit amounted to NIS 21.1 million compared to an operating profit of NIS 14.9 million in the corresponding quarter – an increase of 41.6%.
The Eckerstein Group recorded a net profit of NIS 14.6 million in the third quarter compared to a net profit of NIS 10 million in the corresponding quarter last year – an increase of 45.6%. The EBITDA increased by about 32.6% and amounted to about NIS 31 million compared to about NIS 23.4 million in the corresponding quarter.
Ehud Danoch, CEO of Eckerstein Industries: “The strong growth, in the industrial and engineering sectors, marks the direction in which Eckerstein Industries is expected to move in the following quarters: participation and winning in infrastructure and construction tenders. Since the beginning of the year, the Eckerstein Group has won large-scale tenders by the Ministry of Defense for the construction of the protective walls in the north and the Seam Line and will continue to compete for the additional tenders expected to be published by Ministry of Defense, to complete these projects. In the following quarters, this will be reflected in the group’s income.
It will be emphasized that, in the coming years, the State of Israel is expected to direct huge budgets to the field of national infrastructures. ‘Eckerstein’ products are a key component in any infrastructure project. In order to prepare for this, at the beginning of the year, Eckerstein implemented a plan to expand the production lines in order to meet the expected demand and reduce delivery times, all this with an own investment of tens of millions of shekels in its factories in the south and north.
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It should also be noted that in the quarter the purchase of the Kalram steel plant was completed, which will be integrated into the group’s value chain: it will increase the portfolio of solutions offered while maximizing the great potential of Kalram, through the skilled sales system of Eckerstein. The purchase of Klaram, considered one of the leading companies in Israel in the design and construction of systems for perimeter protection, will allow us to provide a comprehensive solution for the construction of residential buildings and industrial buildings.
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