Africa-Israel Presents Fourth Quarter and Year-End 2006 Results.TEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel -- Africa Israel Group (TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) :AFIL AFIL Alerte de Franchissement Involontaire de Ligne (French: Citroën security alarm) AFIL Flight Plan Filed in the Air AFIL Audio Frequency Induction Loop ) presented today its fourth quarter and year end 2006 results. Results Highlights: * A year-over-year growth of 21% in the Company's asset value, reaching 19 billion NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. * Record net income of 844 million NIS in 2006, an increase of 30% compared to 2005 * Net income in the fourth quarter of 2006 reached 412 million NIS, an increase of 217% compared to Q4 2005 * Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. in 2006 reached 1.7 billion NIS, an increase of 19% compared to 2005 * The Company announced a 360 million NIS Dividend for 2006 Highlights for the fourth quarter of 2006 Net profit reached 412 million NIS, compared to 130 million NIS in Q4 2005, an increase of 217%. Profit from development and real estate business reached 527 million NIS, compared to 166 million NIS in Q4 2005, an increase of 217%. Profit from Rental and operation of property reached 48 million NIS, compared to 44 million NIS in Q4 2005, an increase of 9%. Group's equity in earnings of affiliates, net reached 13 million NIS, compared to 24 million NIS in Q4 2005. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. after Capital Gains reached 622 million NIS compared to 269 million NIS in Q4 2005, an increase of 131%. Highlights for full year 2006 Net profit reached 844 million NIS, compared to 649 million NIS in 2005, an increase of 30%. Profit from development and real estate business reached 1.08 billion NIS, compared to 1 billion NIS in 2005. Profit from Rental and operation of property reached 205 million NIS, compared to 159 million NIS in 2005, an increase of 29%. Group's equity in earnings of affiliates, net reached 128 million NIS, compared to 220 million NIS in 2005. The decline was due to capital gains in 2005, resulting from the ALON USA Alon USA Energy Inc. or Alon USA (NYSE: ALJ) Alon USA Energy, Inc. is headquartered in Dallas, Texas and engages in refining and marketing petroleum products primarily in the southwestern and south central regions of the United States. IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . Operating profit after Capital Gains reached 1.7 billion NIS, compared to 1.4 billion NIS in 2005, an increase of 19%. Main developments over the past months * During December 2006 the Company announced that MTS (1) See Microsoft Transaction Server. (2) (Modular TV System) The stereo channel added to the NTSC standard, which includes the SAP audio channel for special use. 1. MTS - Message Transport System. 2. , in which it holds 20%, won the bid for the Tel Aviv Light Train project construction and operation. MTS will be entitled to a construction bonus of 7.1 million NIS. In addition, the company itself, or through a subsidiary, is expected to execute construction works for MTS. * During December 2006 the Company announced being in negotiations with B.S.R EUROPE for the acquisition of a number of real estate projects held by B.S.R EUROPE in several European countries in which Africa Israel doesn't operate. As of today, The Company is in an advanced stage of the due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. process of these assets. * During January 2007 the Company signed an agreement for the sale of the 14 Wall building in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of for $325 million, with an expected capital gain of $55 million. The Company announced it will write the expected capital gain directly in the Shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. as part of the Company's transition to the IFRS IFRS International Financial Reporting Standard(s) IFRS Inter Frame Relay Service IFRS Indiana Facilities Registry System accounting method. * During February 2007 the Company announced that its Russian subsidiary completed several acquisitions of land, for $300 million. The land is designated for the construction of several projects, containing approximately 200,000 Sq/m for diversified purposes, such as commercial, apartment buildings and office complexes. * During February 2007, the Company announced, together with its subsidiary, Danya Cebus, establishing a joint venture for the construction of 1,000 apartments and 20,000 Sq/m of offices and commercial space in the Perm district in Russia. The total investment is estimated at $400 million. * During March 2007 the Company announced the acquisition of approximately 11.5 acres of land in the city of Zaporozhe, Ukraine. The Company intends to build a 150,000 Sq/m project that will include a large scale shopping mall, offices and luxurious apartments. The project is expected to be the fanciest real estate project in Zaporozhe. * During March 2007 the Company announced the signing of an agreement for the acquisition of 50% of the Apthorp building in Manhattan, New York, for $426 million. The building is considered to be the Crown Jewel Crown jewel A particularly profitable or otherwise particularly valuable corporate unit or asset of a firm. Often used in risk arbitrage. The most desirable entities within a diversified corporation as measured by asset value, earning power, and business prospects; in takeover of New York Apartment buildings. Apart from the apartments, the property includes 2,600 Sq/m of commercial area and an additional 6,000 Sq/m of unused building rights. The company intends to perform a total renovating process before marketing and selling of the apartments. * On March 24th 2007, the Company announced that it is promoting procedures towards the possible IPO of its Russian subsidiary. When and if the IPO takes place, it'll be on the LSE LSE - Language Sensitive Editor . Lev Leviev, Chairman of the Board of Africa Israel, mentioned: "With the mark of a decade of the acquisition of Africa Israel, I'm proud on the Group's achievements during this period. I hope the Group will continue this way and reach significant achievements in the next decade as well. I'm satisfied with the 2006 results. In the this year, the Company continued to act according to the business strategy line to expand its activity in core segments, while investing managerial resources in initiating and location of business opportunities within the countries we are active in and in the new territories. The Company plans to continue initiating and developing business opportunities in Israel and around the world in its main segments of activity to assure stable and diversified growth engines for years to come." Mr. Leviev added that he would like to thank Erez Meltzer, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Company, the management and all the workers for their contribution in 2006. Their contribution, among others, resulted in the record results of the Company. Erez Meltzer, President and CEO of Africa Israel, mentioned: "We are pleased to announce record results in the Group's activity and an improvement in all business parameters, mostly as a result of our international growth strategy. Our strategy focuses on four business fields: Real Estate, Construction Infrastructure, Energy and related Industries. We plan to expand our Real Estate business in the geographical areas in which we are currently active while looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. new opportunities in new territories. In Addition, we intend to accelerate projects execution while expanding volume." Mr. Meltzer concluded: "One of the leading goals of the Company's growth process is to increase its value, through the enlargement of its asset value. This goal will affect the Company's asset realization policy." [TABLE OMITTED] About Africa Israel Africa Israel Investments Africa Israel Investments Ltd. (TASE: AFIL) is an international holding and investment company based in Israel. Africa-Israel Investments is owned by Lev Leviev. Africa Israel has extensive real estate investments in Russia, the US, as well as a 26% stake in Dor Alon, an Israeli Ltd. is an international holding and investment company that is active, among others, in the fields of residential and business construction, construction and management of shopping malls, and building of infrastructure. Africa Israel has holdings in various companies including ones engaged in industry, trade, energy, communications, high- tech, and hotels and resorts, both in Israel and abroad. In all fields where it holds interests, Africa Israel focuses on identifying business opportunities that will realize the company's vision, leading it forward to new horizons of progress, strength and innovation. |
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