Jacob Atrakchi. Imaging: Ben Kotler (Photo by Reuven Kaputzensky)
Aura Renews Israel reported this morning its financial statements for 2021 – a record year in all parameters:
A record 553 units of addicts, amounting to NIS 1.23 billion, an increase of 61%, compared to the sale of 343 units in 2020, amounting to NIS 749 million. The annual net profit was the highest in the company’s history and amounted to NIS 113.5 million, an increase of 169%, compared to NIS 42.1 million in 2020.
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The net profit rate was 12.7% of total consolidated revenues, compared to 3.8% in 2020. The stock of units in the company’s treatment was 27,002 units, a significant increase of 33%, compared to 20,638 units in 2020 – the backlog of projects And the unit promises the company’s growth for the next decade.
During the reporting period, the Company entered into 12 additional urban renewal projects. As part of these projects, the Company is expected to establish approximately 6,570 new housing units (of which approximately 4,557 housing units for marketing by the Company). The Company also entered into a cash transaction. For the purchase of real estate in the city of Lod. The real estate covers an area of about 15 dunams with an approved plan for the construction of about 620 housing units and about 28,000 square meters of commercial and employment space.
As of the date of approval of the report, the company is initiating, planning and establishing in Israel, including together with others, 57 projects that include approximately 27,002 residential units (the company’s effective share is approximately 20,470 units). Of the total projects, 48 projects are In the field of urban renewal, in the framework of which the company will build approximately 22,073 housing units (the effective share of the company is approximately 15,806 housing units).
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As part of the construction of the residential neighborhoods that the company is establishing, a total of approximately 29,000 square meters of commercial support areas will be established, which it will hold as a generating arm, which are expected to yield NIS 39 million per year when populated.
The company’s shareholders ‘equity increased to NIS 520 million, an increase of NIS 152 million, or 41% compared to shareholders’ equity of NIS 369 million in 2020. The company shows a consistent increase in capital toCAPA net that stood at 41%, an increase of 46% compared to capital toCAPA net of 28%.
The company presents a decrease in the financial debt of NIS 233 million, to a total of NIS 826 million, compared to NIS 1.06 billion in 2020. Operating profit jumped from NIS 96 million to NIS 169 million – an increase of 76%.
As of December 31, 2021, the Company has cash equivalents and restricted deposits for use in the amount of NIS 251 million. Gross profit in projects under construction, which has not yet been recognized for the years 2022-2026 in the amount of approximately NIS 1.8 billion. Profitability is expected in planning projects (projects with a privileged majority, recognition in the years 2024-2029) of NIS 2.4 billion. The company’s rating has risen toBaa1 A stable horizon and the growth trend in the coming year support the rising trend of the ranking. The company is working with a rating company to update the rating with a rating target of A For the year 2023.
Yaakov Atrakchi, owner and CEO of Aura: “Aura concludes a record year with excellent results and thus we are establishing our status as the largest and leading urban renewal company in Israel. We intend to continue to renew Israel and expand operations from the Gush Dan area and the center to the periphery in thousands of new apartments in the coming years. “The company is in a dramatic growth process and knows how to create large land reserves that will be used by us for many years to come, so that there is no need to purchase land at unreasonable prices as there have been in the past year.”
Atrakchi added that “our success is based on a real partnership with the tenants and their great trust in us. This year we finished building and inhabiting 2 entire neighborhoods in the largest urban renewal projects built in the center of the country, which fully demonstrated Aura’s capabilities: 700 apartments in Ono Valley In Kiryat Ono and 900 apartments in the gardens hanging in Yehud. ”
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