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.
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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