Nov 15, 2020

... One Technologies announced this morning the results of the third quarter and the results of the first nine months of 2020. Revenues in the quarter rose to NIS 459 million, compared with NIS 377 million in the corresponding quarter last year, an increase of 21.6%, despite and despite the effects of the corona crisis. Revenues in the first nine months of 2020 reached NIS 1.30 billion, compared with NIS 1.19 billion in the corresponding period last year, an increase of 9%. Gross profit for the quarter rose to NIS 77 million, compared with NIS 70 million in the corresponding period last year, an increase of 9.2%. Gross profit in the first nine months of the year increased to NIS 219 million, compared with NIS 204 million in the corresponding period last year, an increase of 7.3%. Operating profit rose to NIS 36 million in the quarter, compared with NIS 31 million in the corresponding period last year, an increase of 17.4%. Operating profit in the last nine months increased to NIS 98 million, compared with NIS 84 million in the corresponding period last year, an increase of 16.7%. EBITDA in the quarter increased to NIS 52 million, compared to NIS 41 million in the corresponding quarter last year, an increase of approximately 25.3%. EBITDA in the first nine months of 2020 increased to approximately NIS 142 million, compared to approximately NIS 121 million In the corresponding period last year, an increase of about 17.6%. Net profit for the quarter rose to NIS 26 million, compared with NIS 22 million in the corresponding quarter last year, an increase of 18.1%. The net profit, net of other income, increased in the first nine months of the year to NIS 67 million, compared with NIS 56 million in the corresponding period last year, an increase of 19.4%. Adi Eyal, CEO of the Van Technologies Group: “We are pleased to present record results in the third quarter of 2020, which Van concludes with double-digit growth in revenues and profits, including growth in all key operational parameters. Also during this quarter, we won a number of long-term implementation and development projects for a variety of leading customers in the economy, including: Ormat, Hamat Group, Tidhar, Pemi Premium, Volcanic Institute and more. At the same time, we continue to develop the company’s future growth engines, and in this context we recently established a robotics division, which will work to develop and distribute technological and innovative robot-based solutions to the Israeli market. “ Simultaneously with the publication of the financial statements, the Company’s Board of Directors approved a dividend of NIS 15.8 million in respect of third quarter profits. As of September 30, 2020, the company’s total cash and cash equivalents amounted to approximately NIS 118 million, compared with approximately NIS 61 million at the end of 2019, an increase of approximately 94%. The net cash flow from operating activities in the first nine months of 2020 amounted to NIS 165 million, compared with NIS 53 million in the corresponding period last year, an increase of 211.4%. The company’s shareholders’ equity, as of September 30, 2020, amounted to NIS 370 million, compared with NIS 327 million at the end of 2019, an increase of 13.1%. Total net financial debt, as of September 30, 2020, amounted to approximately NIS 63 million, compared with approximately NIS 107 million at the end of 2019. Last week, One Technologies reported on a merger deal with Taldor. The merger will be carried out by way of a reverse triangular merger, at the end of which One Technologies will hold the entire shares of Taldor for NIS 250 million in cash. Prior to the transaction, Taldor will distribute a dividend of NIS 16.5 million to its shareholders (approximately NIS 1.5 per share). The transaction will be completed subject to various approvals, including the general meeting of Taldor shareholders. These were the details of the news Record results for Van Technologies: Net profit in the third quarter... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new. It is also worth noting that the original news has been published and is available at news1.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.