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News

FINANCIAL REPORTS FOR THIRD QUARTER 2017: NET PROFITS UP

30 November, 2017 The Ashtrom Group concluded the third quarter of 2017 with a net profit attributable to shareholders amounting to about NIS 81 million, compared to some NIS 53 million in the corresponding period last year, an increase of around 54%. This growth is a result of an improvement in construction and infrastructure contracting operations in Israel and overseas, a rise in the value of property for investment and lower financing costs.
The net profit attributable to shareholders over the first nine months of 2017 came to about NIS 146 million, compared to some NIS 87 million in the corresponding period last year, up by around 68%.
As of the date of publication of the financial reports, the Group’s backlog of works amounts to about NIS 7.4 billion, compared to NIS 6.6 at the end of 2016.

FINANCIAL REPORTS FOR SECOND QUARTER OF 2017: 167% LEAP IN SHAREHOLDER ATTRIBUTABLE NET PROFITS

30 August, 2017 The revenues of the Ashtrom Group grew by about 6% in the second quarter of 2017 compared to the corresponding period last year, approaching 833 million shekels—mainly resulting from operations in the infrastructures and construction contracting sectors in Israel and abroad, as well as residential property entrepreneurship overseas.
The shareholder attributable net profits climbed by about 167% during the quarter in question to around 43 million shekels, compared to some 16 million shekels in the corresponding period last year.
As of the date of publication of the financial reports, the group’s order backlog amounted to about 7.7 billion shekels, 16% higher than the approx. 6.6 billion shekels’ backlog at the end of 2016

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.

2016 FINANCIAL REPORTS: NET PROFIT UP BY ABOUT 30%

31 March, 2017 The Ashtrom Group concluded 2016 with an increase of some 30% in net profit, amounting to around 316 million shekels, compared to about 243 million shekels in 2015.
In 2016 revenues grew by 5.6% to approximately 3.4 billion shekels, mainly owing to growth in the contracting and infrastructures section in Israel. Operating profit increased by about 7% to around 416 million shekels.
The Group’s work backlog continued to grow and reached about 6.6 billion shekels by the end of 2016, compared to some 5.8 billion shekels at the end of 2015.

ASHTROM GROUP PAYS NIS 54 MILLION DIVIDEND

31 March, 2017 The company's Board of Directors has approved a dividend payment amounting to NIS 54 million.
Dividend per share: NIS 0.65385
Ex-date: 06/04/2017
Payment date: 20/04/2017

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.

FINANCIAL REPORTS FOR 2015: ASHTROM GROUP DOUBLES NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS TO SOME NIS 133 MILLION

16 March, 2016 The Ashtrom Group has successfully completed the year 2015 showing improvements in all operational parameters. Revenues grew by 7.5% in 2015 to about NIS 3.2 billion; gross profits increased by some 17% to around NIS 539 million, the bottom line being that the company doubled the net profit attributable to shareholders to about NIS 133 million.
Revenues are expected to continue the upward trend in 2016 as well, on account of the order backlog, which amounted to some NIS 5.8 billion at the end of 2015, compared to around NIS 5.5 billion at the end of 2014.

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