Net income for shareholders in the third quarter: $ 13.3 million.
The company summarized the first nine months of 2021 with double-digit growth in all operating parameters, including revenue, operating profit and net profit.
Guy Bernstein, CEO of Formula Systems: “We are pleased to continue the strong momentum of 2021 with all-time third quarter record results, all financial indicators (revenue, operating profit, EBITDA and net income) and all Group companies despite the fact that the third quarter included all Tishrei holidays in September and holidays The summer of August (which resulted in a 7.2% lower working hours in the group’s activity in Israel compared to the third quarter of 2020.) We continue to focus our efforts on strengthening the group companies’ position as market leaders in their field, while maintaining the high level of innovation, professionalism and flexibility that characterize us. ”
“Matrix Continues to report even in the third quarter record results with the best third quarter of all time and in all financial indices. The increase in profits is reflected in all major technological demand areas with 97% of the reported growth being organic. Matrix is positioned as a market leader in the IT industry in Israel in worlds of innovation and emerging technologies such as cloud, cyber, digital, data, artificial intelligence (AI) and MA, areas in which Matrix manages to generate great value for its customers. There is a huge demand in Israel for services in the fields of digital, cloud, cyber, data and operational core systems – areas in which Matrix has intensified significantly during the Corona period and constitute the main areas of technological demand.
“Sapiens Reported revenue for the year of $ 118 million with growth of 21% over the same quarter last year, and non-GAAP operating profit (17.7%) compared to 17.2% in the previous quarter. Sapphire’s strong performance in the first nine months of 2021 illustrates the successful implementation of the Global Expansion Strategy based on the broadest portfolio of products and services available in the market in which it operates. Sapiens’ unique value proposition allows insurance companies to enjoy the unique approach of “cloud-first”, “low-code”, insurance-in-a-box “” and choose between implementing end-to-end systems and combining the different parts, depending on their changing needs. “Approves the revenue forecast for 2021 in the range of $ 461-466 million, and raises the operating profit forecast to the range of 17.4% -17.5%, compared to the previous forecast of 17.2% -17.5%.”
“Magic’s strong performance in the third quarter is further offset by the strong momentum that accompanies the company throughout 2021. Magic reports its results for the nine months of 2021 with double-digit growth and an all-time record in all major financial indicators (revenue, gross profit) , Operating profit, EBITDA and net profit) recorded despite the decrease in the number of working hours in the third quarter as a result of the Tishrei holidays and the summer holidays in August. Digital, cloud, data, cyber and artificial intelligence, all while creating significant value for its customers in managing, streamlining, accelerating and thriving their businesses, and demonstrating that Magic occupies a significant place in their business life cycle and transformation processes, as well as the company’s business strategy success portfolio. Extensive products and services. Magic raises its revenue forecast for 2021 for the third time this year, to a range of $ 470-475 million, compared to the previous forecast of $ 450-460 million. “
“Multiplier group Continues to realize synergies and refine its business model. Michpel concludes the first nine months of 2021 with revenues of approximately NIS 74 million, reflecting a growth of 27% compared to the same period last year when 73% of the growth was organic. The human being in the organization, including reporting to the authorities, as well as a digital interface for the organization’s employees to perform various operations with the employer, including access to historical pay slips, attendance reporting, electronic Form 101 reporting, 106 form production, etc. In the labor market. “
“Since the acquisition of Zap Group, The leading consumer sites group in Israel, which enjoys a leading brand in the Israeli market and has extensive solutions in the fields of advertising, website promotion, mailing and more, completed in April 2021, we work together with Zap Group to build a long-term business strategic plan to create a basis for Zap Group growth Potential business partnerships that will expand the basket of products and services that Zap Group offers its customers, as well as the joining of new customers. We continue to focus on the successful integration of Zap Group into the group and look for additional opportunities for mergers and acquisitions. “
Formula Systems Group reports the results of the third quarter and the first nine months of 2021:
The third quarter of 2021:
Consolidated revenue in the third quarter of 2021 increased by 20.3% to approximately $ 586.3 million, compared to $ 487.3 million in the corresponding quarter last year.
Consolidated operating income in the third quarter of 2021 increased by 11.2% to approximately $ 50.5 million, compared to approximately $ 45.4 million in the corresponding quarter last year.
Consolidated net income attributable to shareholders in the third quarter of 2021 rose 5.2% to approximately $ 13.3 million, or $ 0.85 per fully diluted share, compared to $ 12.6 million, or $ 0.82 per fully diluted share, in the corresponding quarter last year.
The first nine months of 2021:
Consolidated revenue in the first half of 2021 rose 25.6% to about $ 1.75 billion, compared to $ 1.39 billion in the same period last year.
Consolidated operating income in the first nine months of 2021 increased by 18.9% to approximately $ 148.4 million, compared to $ 124.9 million in the corresponding period last year.
Consolidated net income attributable to shareholders in the first nine months of 2021 rose 11.9% to about $ 39 million, or $ 2.51 per fully diluted share, compared to $ 34.9 million, or $ 2.25 per fully diluted share, in the same quarter last year.
As of September 30, 2021, Formula Systems holds shares in Matrix (48.9%), Sapphire (43.8%), Magic (45.5%), Multiplier (100%), (TSG IT (50%), Insync Staffing Solutions ( 90.09%, Ofek Aerial Photography (80%) and the Zap Group (100%).
The total cash, cash equivalents, deposits and investments in marketable securities in the Group’s consolidated balance sheet as of September 30, 2021 is $ 495.1 million, compared to $ 533.2 million as of December 31, 2020.
The Group’s total equity in the consolidated balance sheet as of September 30, 2021 is $ 1.14 billion (constituting 43.4% of the total consolidated balance sheet), compared to $ 1.11 billion as of December 31, 2020 (constituting 44.0% of the total consolidated balance sheet).
As of September 30, 2021, the Company meets all the financial criteria applicable to it in connection with its series of debentures to the public.
.