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Ampal-American Israel Corporation Reports 2010 Fourth Quarter And Year End Results

As of December 31, 2010, Ampal had cash, cash equivalents, other financial investments and deposits of $91.6 million.

Gadot Chemical Tankers and Terminals Ltd. (“Gadot”) results for the year ended December 31, 2010 were as follows:

  • Revenues increased by 20% from $414 million to $497 million compared to the year ended December 31, 2009.
  • Gross profit increased by 11.4% from $40.4 million to $45.1 million.
  • Adjusted EBITDA increased from $25 million to $26 million.

COMPANY'S PRESENTATION

The Company’s investments presentation will be available via the Internet at the Company’s website at http://www.ampal.com.

CONFERENCE CALL

Ampal's management will be hosting conference calls to discuss the year end results on Monday, March 21, 2011, as detailed below:

The Hebrew call will take place on Monday, March 21, 2011 at 14:30 Israel time (08:30 AM ET).

To access the conference call, participants are welcome to use the following access number: +972-3-9180685
 

The English call will take place on Monday, March 21, 2011 at 16:00 Israel time (10:00 AM ET).

To access the conference call, participants are welcome to use the following access numbers:
U.S. Dial in number - 1-888-668-9141
UK Dial in number - 0-800-917-9141
Israel and International Dial in number - + 972-3-9180687

A replay of the calls will be available on Ampal’s web site ( www.ampal.com) approximately three hours after both conference calls are completed.

FINANCIAL HIGHLIGHTS

(In thousands, except earnings per share)

 

 
Year Ended

December 31,

Three Months Ended

December 31,

  2010     2009     2010     2009  
Revenues $ 504,962 $ 425,756 $ 138,309 $ 90,633
Net gain (loss) ($44,742 ) ($19,481 ) ($8,968 ) ($232 )

Basic EPS gain (loss) per Class A share

($0.80 ) ($0.35 ) ($0.16 ) ($0.00 )
 
December 31, 2010   December 31, 2009  
Total Assets $1,397,675 $960,041

Shareholders' Equity

$185,225 $216,629

RECONCILIATION OF REVENUES AND EXPENSES TO ADJUSTED EBITDA FOR GADOT (U.S. Dollars in millions)

   
Year Ended

December 31, 2010

(Unaudited)

Year Ended

December 31, 2009

(Unaudited)

 
Revenues 497 414
Expenses (452 ) (374 )
Profit 45 40

Marketing, sales, general, administrative and other expenses

(40 ) (33 )

Depreciation and amortization

17   18  
EBITDA 22 25

Non-recurring and stock compensation expenses

4   *  
Adjusted EBITDA 26   25  

* Less than 1.

Stock quotes in this article: AMPL 

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