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News

FINANCIAL REPORTS FOR SECOND QUARTER OF 2018: INCOMES UP ABOUT 14%, GROSS PROFIT UP ABOUT 47% AND NET PROFIT DOUBLED

30 August, 2018 The Ashtrom Group's incomes increased by around 14% in the second quarter of 2018 compared to the corresponding period last year, amounting to some 948 million shekels.
The gross profit came to about 179 million shekels, approx. 47% higher than the same quarter last year.
The bottom line is that the Ashtrom Group doubled its net profit in the second quarter of 2018 to around 90 million shekels, compared to a net profit in the region of 43 million shekels in the second quarter of 2017.
As of the publication date of the financial reports the group's work backlog comes to approx. 8.4 billion shekels, a growth of some 17% compared to the backlog of 7.2 billion shekels at the end of 2017.

ASHTROM WINS TENDER IN PROJECT FOR ERECTING RESIDENTIAL UNITS FOR RENTAL AND SALE IN JERUSALEM

20 August, 2017 The Ashtrom Group has won a tender as part of the Apartment for Rent initiative to design, construct and operate a residential project in the Little Hadassah complex located in Kiryat Yovel Quarter, Jerusalem. The project will comprise 4 buildings containing a total of 584 residential units, 438 of which are intended for long-term leasing and 146 for immediate sale; also incorporated in the project is a 5,000 sq. m. area for commerce, parking basements and green spaces.

ASHTROM TO CARRY OUT DA VINCI PROJECT IN TEL AVIV VALUED AT ABOUT 700 MILLION SHEKELS

9 July, 2017 Ashtrom has been selected as the construction contractor for the project, which includes residential, commercial and office areas totalling some 96,000 sq. m., located at the corner of Da Vinci St. and Kaplan St. in Tel Aviv.
The project will contain 375 apartments in two residential tower blocks, each rising to 42 storeys, in addition to two office blocks and commercial space.
The project is valued at about 700 million shekels.

ASHTROM WINS TENDER FOR CONSTRUCTION OF 136 APARTMENTS FOR RENTAL IN TEL AVIV MASHTELA QUARTER

15 May, 2017 The Ashtrom Group has won a tender for a construction project of 136 apartments for long-term rental in the North Tel Aviv Mashtela Quarter, under which the group is to erect four seven-storey residential blocks above a commercial frontage, covering a total area of some 6 dunams (6,000 sq. m.)
The apartments will be let for a 20-year period, 25% of them to tenants entitled to reduced rent subsidised by the Ministry of Construction and Housing. At the end of the 20-year period the company will be allowed to sell the properties on the open market.

ASHTROM UNDERTAKES APPROX. 200 MILLION DOLLAR CONSTRUCTION PROJECT IN ZAMBIA

26 July, 2016 Ashtrom is to carry out an approx. 200 million dollar construction project in Zambia, entailing the design and erection of residential units and public buildings with an overall floor area of some 122 thousand sq. m., together with all infrastructure works supporting the project.

ASHTROM WILL BUILD 320 HOUSING UNITS IN KFAR YONA FOR 200 MILLION NIS

26 June, 2016 Ashtrom Group signed an agreement with Gindi Holdings under which Ashtrom will be the contractor for the construction of 320 housing units in Kfar Yona, totaling 200 million NIS.

ASHTROM GROUP SUCCESSFULLY COMPLETES THE RAISING OF ABOUT NIS 205 MILLION FOR A BONDS ISSUE, OVER-SUBSCRIBED BY NIS 430 MILLION.

22 February, 2016 Ashtrom Group has successfully completed a bond offering by expanding the existing shekel denominated bond, raising NIS 205 million at an interest of 4.4%. S&P Maalot rates the bonds A stable.
The bond offering was over-subscribed by NIS 430 million at the institutional stage.

ASHTROM GROUP WINS TENDER FOR 350 RENTAL UNITS IN TEL AVIV

28 January, 2016 The Ashtrom Group has won the important tender for long-term rentals in the Gadna Complex in Southern Tel Aviv. Under the terms of the tender Ashtrom is to construct 350 residential units in 15-storey buildings. All of the apartments are for long-term rentals for a period of 20 years, after which the company will be free to sell them on the open market. A quarter of the homes built will be let to eligible tenants at a subsidized rent of 80% of the open market rental level.
The cost of the project is estimated at about NIS 430 million.

ASHTROM GROUP TOGETHER WITH A PARTNER TO BUILD PRESTIGIOUS DAN TOWER PROJECT IN TEL AVIV

21 May, 2015 The Ashtrom Group together with a partner is to build Dan Tower, a 29-floor high rise luxury residential project on the corner of Arlozorov St. and Ben Yehuda St. in Tel Aviv; the revenues from this scheme total about NIS 244 million (Ashtrom’s share—50%).

ASHTROM TO BUILD 860 RESIDENTIAL UNITS IN KARMEI GAT FOR HALF A BILLION SHEKELS

29 March, 2015 The Ashtrom Group has signed a contract with Gindi Holdings Ltd., naming Ashtrom as the contractor undertaking a construction project of 860 residential units in Karmei Gat to a value of about NIS 500 million.
The Ashtrom Group is to erect 20 buildings, each of which will be 9 storeys high and contain 43 apartments.

ASHTROM GROUP WINS RENTAL AND SALE RESIDENTIAL PROJECT IN HAIFA

12 January, 2015 Ashtrom, through one of its subsidiaries, has won a contract to build 348 residential units in Haifa, 164 of which are for immediate sale, the remaining 184 units being for long-term rental on a 20-year lease.
The Ashtrom Group is leading the project planning and construction, as well as the marketing and management of all the apartments intended for rental (B.O.O.)

ASHTROM GROUP TOGETHER WITH SHAPIR WINS NIS 4 BILLION HAIFA PORT CONSTRUCTION TENDER

2 November, 2014 The Ashtrom Group together with Shapir Engineering has won a tender for constructing the new port in Haifa (Haifa Bay Port). The project is expected to yield revenues amounting to some NIS 4 billion (to be shared by both companies), Ashtrom’s share being 50% (approx. NIS 2 billion). More

PUBLIC OFFERING—ASHTROM GROUP SUCCESSFULLY COMPLETED ITS IPO AT THE TEL AVIV STOCK EXCHANGE

1 June, 2014 Last Thursday, 29 May 2014, the Ashtrom Group completed the public stage of the company’s gigantic stock offering totalling NIS 1.5 billion, NIS 1.23 million of which is in bonds and the rest in shares. More