Shikun & Binui Reports Third Quarter 2012 Results
Condensed Consolidated Interim Statement of Income
For the
For the nine-month For the three-month year
period ended period ended ended
September September September December
September 30 30 30 30 31
2012 2011 2012 2011 2011
(Unaudited) (Unaudited) (Audited)
NIS NIS NIS NIS NIS
thousands thousands thousands thousands thousands
Revenues from
work
performed and
sales 4,700,152 3,927,283 1,371,302 1,261,672 5,335,126
Cost of work
performed
and sales 3,773,106 (*) 3,091,016 1,128,733 (*)1,024,879 (*) 4,291,386
Gross profit 927,046 836,267 242,569 236,793 1,043,740
Gain on sale of
investment
property 4,902 10,403 - 869 50,819
Selling and
marketing
expenses (24,965) (*) (24,439) (6,356) (*)(10,644) (*)(33,542)
Administrative
and general
expenses (246,848) (256,297) (80,079) (91,223) (342,880)
Other operating
income 16,152 88,486 763 2,932 89,760
Other operating
expenses (25,415) (11,866) (14,329) (2,273) (8,351)
Operating profit 650,872 642,554 142,568 136,454 799,546
Financing income 160,579 168,630 62,918 55,875 179,588
Financing
expenses (285,897) (285,727) (106,089) (83,481) (346,407)
Net financing
expenses (125,318) (117,097) (43,171) (27,606) (166,819)
Share of profits
(losses) of
equity accounted
investees
(net of tax) (23,036) (31,541) (9,806) 3,835 (44,593)
Profit before
taxes on income 502,518 493,916 89,591 112,683 588,134
Taxes on income (135,381) (118,687) (19,045) (30,253) (143,913)
Profit for the
period 367,137 375,229 70,546 82,430 444,221
Attributable to:
Owners of the
Company 341,723 351,246 63,162 76,491 412,668
Non-controlling
interests 25,414 23,983 7,384 5,939 31,553
367,137 375,229 70,546 82,430 444,221
Basic earnings
per share
(in NIS) 0.86 0.89 0.16 0.19 1.04
Diluted earnings
per share
(in NIS) 0.86 0.88 0.16 0.19 1.03
Number of shares
used in the
computation of
basic earnings
per share (in
thousands) 397,986 396,460 398,033 397,896 396,882
Number of shares
used in the
computation of
diluted earnings
per share (in
thousands) 398,390 399,599 398,343 398,918 399,495
(*) Reclassified
Operating Segments
For the nine month period ended September 30, 2012
Infrastructures
and Infrastructures Real estate
construction and Real estate development
outside of construction development outside of
Israel in Israel in Israel Israel Concessions
(Unaudited)
NIS thousands
Total
external
revenues 2,477,084 1,118,130 870,344 12,124 106,077
Inter-segment
revenues - 232,868 57 - -
Total
revenues 2,477,084 1,350,998 870,401 12,124 106,077
Segment
profit (loss)
before
income tax 380,082 43,134 272,006 (12,303) 41,729
(Table continued)
For the nine month period ended September 30, 2012
Renewable
energy Water Other Adjustments Consolidated
(Unaudited)
NIS thousands
Total
external
revenues 87,573 28,820 - - 4,700,152
Inter-segment
revenues - - - (232,925) -
Total
revenues 87,573 28,820 - (232,925) 4,700,152
Segment
profit (loss)
before
income tax (21,520) (11,249) (2,234) (187,127) 502,518
For the nine month period ended September 30, 2011
Infrastructures
and Infrastructures Real estate
construction and Real estate development
outside of construction development outside of
Israel in Israel in Israel Israel Concessions
(Unaudited)
NIS thousands
Total
external
revenues 2,042,419 850,829 698,533 3,681 229,520
Inter-segment
revenues - 299,349 3,812 - -
Total
revenues 2,042,419 1,150,178 702,345 3,681 229,520
Segment
profit (loss)
before
income tax 378,370 34,173 228,507 30,497 50,574
(Table continued)
For the nine month period ended September 30, 2011
Renewable
energy Water Other Adjustments Consolidated
(Unaudited)
NIS thousands
Total
external
revenues 73,189 29,112 - - 3,927,283
Inter-segment
revenues - - - (303,161) -
Total
revenues 73,189 29,112 - (303,161) 3,927,283
Segment
profit (loss)
before
income tax (18,886) (13,110) (6,160) (190,049) 493,916
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