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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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