Avi Barzilai, CEO of Efi Properties (Photo by Tamar Mitzpi)
Efi Properties has published the company’s data for 2021 and reports a record year in many parameters. The following are the company’s salient data in the past year:
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The corona continued to give its signals on the company’s results also in 2021, albeit to a lesser extent than in 2020. The increase inWE It was offset considerably as a result of the erosion of the euro against the shekel, which continued in the fourth quarter.
Following a number of transactions made this year for the purchase of projects in Prague, Hod Hasharon and Belgrade, together with the completion of the population of projects whose construction has been completed, and the neutralization of the Corona effect, the WE To reach an annual rate of about NIS 642 million. The company is currently establishing a number of projects, the completion of which is expected to WE Annual to reach NIS 968 million. In the fourth quarter of the year, theWE (Company share) by NIS 145 million, compared with NIS 133 million last year, an increase of 9%.
FFO – In 2021, it amounted to NIS 270 million, compared with NIS 175 million last year, an increase of 54%. In 2019, the total – FFO NIS 177 million, an increase of 52%. God- FFO In the fourth quarter, it amounted to NIS 70 million, compared with NIS 57 million in the corresponding quarter last year, an increase of about 23%.
The annual rate of theFFO On the basis of the fourth quarter of the year and excluding the effect of the corona and other adjustments, stands at about 355 million. With the completion of the projects that the company is currently building, the FFO Reach an annual rate of about NIS 607 million.
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Profit attributed to the owner – amounted to NIS 787.3 million in 2021, compared with NIS 19.1 million last year. The increase in profit is due, among other things, to an increase in the volume of activity, which is reflected in the sharp increase in b WE And, in income from the increase in value of investment real estate and investment real estate under construction. In the fourth quarter, the profit attributed to the owners amounted to NIS 339 million, compared with NIS 65 million in the corresponding quarter last year.
Avi Barzilai, CEO of Efi Properties: “The company is presenting good results for 2021 with a significant improvement in all operational parameters. The year 2021 was affected by the continuation of the corona plague, which was felt mainly in malls in Romania. On the other hand, the company benefited from the positive impact of the asset purchases we made in 2020 and the completion of the projects. “Most of the corona restrictions in the various countries have recently been lifted and we hope that this fact, together with the completion of additional projects and the increase of population rates in existing projects, will take us one step further.”
Barzilai added that “the office space in Israel is booming and is characterized by strong demand during this period, when in some of our areas of activity, in addition to Tel Aviv, we enjoy rising prices. In the field of rental housing in Israel and Europe, the company continued its efforts to increase its portfolio.” From 5,000 housing units in various stages of development. “It should be noted that at this stage the main effect of the war in Ukraine on the real estate market in the countries of activity of the company is a significant increase in demand for rental apartments. The company, which sees this as a significant growth engine, will continue this activity in the near future.”
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