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Alon Holdings Blue Square - Israel Ltd. Announces Financial Results For The First Nine Months And Third Quarter Of 2011

The convenience translation of New Israeli Shekel (NIS) into U.S. dollars was made at the exchange rate prevailing at September 30, 2011: U.S. $1.00 equals NIS 3.712. The translation was made solely for the convenience of the reader.

Alon Holdings Blue Square- Israel Ltd. (hereinafter: "Alon Holdings") is the leading retail company in the State of Israel and operates in four reporting segments: In its supermarket segment, Alon Holdings, through its 100% subsidiary, Mega Retail Ltd., currently operates 211 supermarkets under different formats, each offering a wide range of food products, "Near Food" products and "Non-Food" products at varying levels of service and pricing. In its "Non-Food" segment, Alon Holdings, through its 100% subsidiary BEE Group Retail Ltd., operates specialist outlets in self operation and franchises and offers a wide range of "Non-Food" products as retailer and wholesaler. In the Commercial and Fueling Sites segment, through its 78.38% subsidiary, which is listed on the Tel Aviv stock exchange ("TASE"), Dor Alon Energy in Israel (1988) Ltd is one of the four largest fuel retail companies in Israel based on the number of petrol stations and a leader in the field of convenience stores.  Dor Alon operates a chain of 193 petrol stations and 195 convenience stores in different formats in Israel. In its Real Estate segment, Alon Holdings, through its TASE traded 78.26% subsidiary Blue Square Real Estate Ltd., owns, leases and develops yield generating commercial properties and projects.

Forward-looking statements

This press release contains forward-looking statements within the meaning of safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.   Forward-looking statements may include, but are not limited to, plans or projections about our business and our future revenues, expenses and profitability. Forward-looking statements may be, but are not necessarily, identified by the use of forward-looking terminology such as "may," "anticipates," "estimates," "expects," "intends," "plans," "believes," and words and terms of similar substance.   Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events, results, performance, circumstance and achievements to be materially different from any future events, results, performance, circumstance and achievements expressed or implied by such forward-looking statements.  These risks, uncertaintiesand other factors include, but are not limited to, the following:   the effect of the recession in Israel on the sales in our stores and on our profitability; our ability to compete effectively against low-priced supermarkets and other competitors; quarterly fluctuations in our operating results that may cause volatility of our ADS and share price; risks associated with our dependence on a limited number of key suppliers for products that we sell in our stores; the effect of an increase in the minimum wage in Israel on our operating results; the effect of any actions taken by the Israeli Antitrust Authority on our ability to execute our business strategy and on our profitability; the effect of increases in oil, raw material and product prices in recent years; the effects of damage to our reputation or to the reputation of our store brands due to reports in the media or otherwise; and other risks, uncertainties and factors disclosed in our filings with the U.S. Securities and Exchange Commission (SEC), including, but not limited to, risks, uncertainties and factors identified under the heading "Risk Factors" in our annual report on Form 20-F for the year ended December 31, 2010.   You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.   Except for our ongoing obligations to disclose material information under the applicable securities laws, we undertake no obligation to update the forward-looking information contained in this press release.

ALON HOLDINGS BLUE SQUARE - ISRAEL LTD. INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2011

 

                                                                    Convenience
                                                                    translation(A)
                           Dec 31           September 30,            September 30,
                           2010         2010            2011             2011
                          Audited            Unaudited
                                    NIS                           U.S. dollars
                                           In thousands
      Assets
 
    CURRENT ASSETS:
    Cash and cash
    equivalents         125,956        270,823       101,063              27,226
    Investment in
    securities          310,237        439,335       286,041              77,058
    Short-term
    deposits             98,084              -       103,449              27,869
    Trade
    receivables       1,731,747        908,026     1,856,038             500,010
    Other accounts
    receivable including
    current maturities
    of long term loans
    granted             162,599        195,438       494,777             133,291
    Derivative
    financial instruments     -          8,559         5,165               1,391
    Assets classified
    as held for sale          -              -         3,610                 973
    Income taxes
    receivable           64,094         54,911       110,795              29,848
    Inventories         680,296        523,179       682,463             183,853
                      3,173,013      2,400,271     3,643,401             981,519
 
    NON-CURRENT
    ASSETS:
    Investments in
    associates            6,012          4,303       203,050              54,701
    Derivative 
    financial
    instruments          56,078         17,885         1,124                 303
    Real estate
    inventories          83,337         83,733        95,470              25,719
    Payments on account 
    of real estate      164,132        156,465       180,786              48,703
    Investments in
    securities           30,327              -        25,618               6,901
    Loans receivable,
    net of current
    maturities          176,043              -       147,471              39,728
    Property and
    equipment, net    2,928,515      1,990,441     2,959,410             797,255
    Investment
    property            546,870        460,791       554,656             149,422
    Intangible
    assets, net       1,486,744        412,294     1,462,555             394,007
    Other long-term
    receivables          47,098         28,916       155,627              41,925
    Deferred taxes       66,018         40,201        79,919              21,530
                      5,591,174      3,195,029     5,865,686           1,580,194
    Total assets      8,764,187      5,595,300     9,509,087           2,561,713
 

 

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