Electra has grown mainly due to public transport purchases – and is declining in trade

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Electra
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Reports revenues of NIS 2.27 billion in the third quarter, an increase of 13.9%, compared with NIS 1.99 billion in the corresponding quarter last year.

EBITDA in the quarter increased by 21.3% to NIS 186.2 million, compared to NIS 153.4 million in the corresponding quarter last year. The backlog is NIS 23.4 billion, compared to NIS 16.9 billion at the end of the previous year.

The company’s net profit amounted to NIS 46.9 million, compared with NIS 37.7 million in the corresponding quarter last year.

Sector results
According to the company’s reports, entry into the transportation industry has led to a 15% growth in revenue. The company recorded a significant increase in revenue in the quarter to NIS 219.6 million, compared with NIS 24.2 million in the corresponding quarter last year. The company recorded an operating profit in this segment of approximately NIS 20.8 million, compared with approximately NIS 1.5 million in the corresponding quarter last year. The increase was mainly due to the inclusion of Electra Afikim’s public transportation activity, and the first registration of revenues in the Netanya District Government Campus project.

In the operating, service and maintenance segment, revenues in the quarter increased by 21.7% to NIS 625.9 million, compared with NIS 514.4 million in the corresponding quarter last year. Operating profit in this segment increased by 34.2% to NIS 58.4 million, compared with NIS 43.5 million in the corresponding quarter last year. The increase was mainly due to the inclusion of Electra Afikim’s transportation activity, as well as activity in the field of corona testing.

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Revenue in the projects sector Buildings and infrastructure in Israel in the third quarter amounted to NIS 1.02 billion, compared with NIS 1.08 billion in the corresponding quarter last year. Operating profit in the segment amounted to NIS 5.4 million in the quarter, compared with NIS 51.4 million in the corresponding quarter last year.

In the segment of projects for buildings and infrastructure abroad Revenues in the quarter amounted to NIS 336 million, compared with NIS 345 million in the corresponding quarter last year. Operating profit in this segment amounted to NIS 2.6 million in the quarter, compared with NIS 13.5 million in the corresponding quarter last year.

In the development and construction real estate sector in initiation Revenues in the quarter increased by 23% to NIS 114.4 million, compared with NIS 93 million in the corresponding quarter last year. The increase is mainly due to an increase in the volume of projects in the field of residential real estate entrepreneurship, in accordance with the pace of progress. Operating profit in this segment grew by 52.1% in the quarter to NIS 13.8 million, compared with operating profit of NIS 9.1 million last year.

Itamar Deutscher, CEO of the Electra Group: “We conclude the third quarter with growth in revenues and an increase in net profit, and with the continuation of the growth trend in the workforce, which currently stands at over NIS 23 billion, thanks to a series of significant projects for the group. The financial results illustrate our contribution “Through the acquisition of Afikim and Egged Transport. In the field of national infrastructure, Electra is currently bidding on a number of government tenders for the construction of mega projects. At the same time, we announced the sale of our holdings in the Gilboa power plant.”

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