DOCSLIB.ORG

Shufersal 2016

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Shufersal 2016 Board of Directors' Report on the State of the Company's Affairs for the Year Ended December 31, 2016 Shufersal Ltd. Director’s Report For the Year Ended December 31, 2016 1 Board of Directors' Report on the State of the Company's Affairs for the Year Ended December 31, 2016 Shufersal Ltd. Contents 1. Explanations of the Board to the Company's Business Affairs 1.1 Principal data regarding the business affairs of the Company 1.1.1 Description of operating segments reported as business segments in the consolidated financial statements of the Company 1.1.2 Management’s discussion of principal results for 2016 1.1.3 Dividend 1.2 Analysis of results of operations 1.2.1 Analysis of the results for 2016 as compared to 2015 1.2.2 Analysis of the results for 2015 as compared to 2014 1.2.3 Analysis of the results for the three months ended December 31, 2016 as compared to the corresponding period last year 1.2.4 Condensed consolidated income statement and consolidated statements of comprehensive income for 2016 by quarters and for the fourth quarter of 2015 1.3 Financial position, liquidity and sources of finance 1.3.1 Cash flow – Analysis of the results for 2016 as compared to 2015 1.3.2 Cash flow – Analysis of the results for 2015 as compared to 2014 1.3.3 Liquid asset balances and financial ratios 1.3.4 Board of Directors’ discussion of the Company’s liquidity in view of the working capital deficit as at December 31, 2016 2. Market Risk Exposure and Management 2.1 Company officer responsible for market risk management 2.2 Supervision over market risk management policy and its implementation 2.3 Description of market risks 2.3.1 Consumer Price Index risks 2.3.2 Foreign currency risks 2.3.3 Interest rate risks 2.3.4 Israeli capital market risks 2.4 Company policy regarding market risk management 2.5 Linkage bases report 2.6 Sensitivity tests 2 Board of Directors' Report on the State of the Company's Affairs for the Year Ended December 31, 2016 Shufersal Ltd. 3. Corporate governance 3.1 Activities of the Board of Directors and its committees 3.2 Directors having accounting and financial expertise 3.3 Process of approval of the financial statements 3.4 Disclosure regarding the internal auditor of the Company 3.5 Disclosure regarding the fees of the independent auditors 3.6 Contribution to the community 4. Directives regarding disclosures pertaining to the financial reporting of the Company 4.1 Disclosure regarding events subsequent to the date of the statement of financial position 4.2 Goodwill 5. Specific disclosure for holders of debentures 3 Board of Directors' Report on the State of the Company's Affairs for the Year Ended December 31, 2016 Shufersal Ltd. We hereby submit the Directors' Report of Shufersal Ltd. (hereinafter – "Shufersal" or "the Company") for the year 2016 (hereinafter – "2016" or "the reporting period")1, in accordance with the Securities Regulations (Periodic and Immediate Reports), 1970, (hereinafter –"the reporting regulations"). Shufersal together with its subsidiaries and associate companies are hereinafter called “the Shufersal Group” or “the Group”. 1. Explanations of the Board to the State of the Company's Affairs 1.1 Principal data regarding the business affairs of the Company Shufersal is the owner of the largest supermarket chain in Israel, which operates 272 branches throughout the country in a few formats over a total area of approximately 503 thousand square meters. The Company employs about 12.4 thousand employees (calculated positions) and has annual sales of about NIS 11.8 billion. As at December 31, 2016 and the date of issuing this report, the controlling shareholder of the Company is Discount Investment Corporation Ltd. 1.1.1 Description of operating segments reported as business segments in the consolidated financial statements of the Company The Company operates in three operating segments that are reported as business segments in the Company’s financial statements, the retail segment, the real estate segment and the loyalty program credit card management segment For details regarding the aforesaid operating segments, see Note 32 to the Company’s consolidated financial statements for 2016 (hereinafter – “the financial statements”). 1.1.2 Management’s discussion of principal results for 2016 The Company’s results were affected by several matters: The Company continued to accelerate the development of its digital platforms, mainly the “Shufersal Online” system, including opening dedicated storage facilities for that platform. In 2016, the significant growth of sales through Shufersal Online continued, and the sales constituted about 9% of the Company’s total sales (compared with 6% in 2015). Continued development and strengthening of the private label. This year, the private label accounted for 20% of all retail sales, which is a significant increase relative to that metric in 2015 (15% of total retail sales). Real estate streamlining continued. Phase in of a new logistics center in Shoham, which began operating in February 2016. For details on the Company’s distribution system see Section 8.15 of Part A of the periodic report. The Company continued to adjust its activity to changes in the food retail market, including in connection with the sale of the Mega chain. Repayment of most outstanding Series B bonds through an exchange offer, replacing Series B bonds of the Company by allocating Series E and Series F bonds (as discussed in note 1b(6) and 1b(7) to the financial statements). The above exchange offers contributed to a flattening of the Company maturities in coming years relative to outstanding bonds. See also paragraph 1.3.4 below. 1 For purposes of this report, “the reporting date” or “the date of the report” is the date of the statement of financial position (December 31, 2016) unless stated otherwise or implied otherwise by the context of the matter. 4 Board of Directors' Report on the State of the Company's Affairs for the Year Ended December 31, 2016 Shufersal Ltd. 1.1.3 Dividend In April 2016, the Company distributed a dividend in the amount of NIS 100 million. On February 21, 2017, subsequent to the date of the statement of financial position, the Company’s Board of Directors declared the distribution of a cash dividend in the total amount of NIS 160 million. The said dividend did not require court approval, and as at the date of this report it has not yet been paid. See Note 34.B to the financial statements for details. As at December 31, 2016, the Company’s “profits” for purposes of the profit test pursuant to Section 302 of the Companies Law, 1999 (“the Companies Law”) amounted to about NIS 502 million, where a dividend distribution by the Company, to the extent the Company’s Board of Directors decides to make such a distribution, will be in accordance with the Companies Law and subject to the distribution conditions provided therein, to the restrictions provided in the terms of the debentures that were issued by the Company (see Section 5 hereunder and Note 17 to the financial statements) and to all other provisions of law. 5 Board of Directors' Report on the State of the Company's Affairs for the Year Ended December 31, 2016 Shufersal Ltd. 1.2 Analysis of the Results of Operations 1.2.1 Analysis of the results for 2016 as compared to 2015 Results of operations 2016 2015 % NIS millions % NIS millions Revenues 11,842 11,505 Gross profit 25.6% 3,037 24.2% 2,789 Selling, marketing, administrative and general expenses 22.1% (2,618) 21.9% (2,515) Operating income (loss) before other income 3.5% 419 2.4% 274 Other income (expenses), net 1 3 Increase in fair value and gain on sale of investment property, net 26 9 Operating income (loss) after other income 446 286 Financing expenses, net (118) (87) Share in profit of investee accounted for under the equity method 2 - Profit (loss) before taxes on income 330 199 Taxes on income (68) (46) Profit (loss) for the year 262 153 Retail segment revenues amounted to NIS 11,798 million in 2016 compared with NIS 11,456 million in the previous year, a 3.0% increase, mainly driven by developments in the food retail market. Store sales in 2016 increased by 3.8% compared to 2015. The difference between the growth in revenue and in sales is mainly attributed to increase of franchiser activity2. Same store3 sales increased by 4.4%. The increase was mainly driven by changes in basket of products and special offer mix, and changes in food retail market. The sales per square meter4 in 2016 were NIS 23,884, compared with NIS 22,299 in the previous year, an increase of 7.1% that is mainly due to a reduction in selling areas. Real estate segment revenues amounted to NIS 170 million in 2016, compared with NIS 180 million in the previous year, a 5.6% decrease due to reduction of the inventory of properties and tenants. Revenues from the loyalty program credit card management segment amounted to NIS 75 million in 2016, compared with NIS 67 million in the previous year, an increase of 11.9%. The Company’s revenues amounted to NIS 11,842 million in 2016 compared with NIS 11,505 million in the previous year, an increase of 2.9%, mainly driven by the retail segment. 2 See paragraph 3.1 of Part A (Description of Business Affairs) of the periodic report. 3 Same stores – stores that were active in corresponding periods of the two comparison years.
Load more

Recommended publications
  • Companies Supporting the Israeli Occupation of Palestinian Land
    Companies Supporting the Israeli Occupation of Palestinian Land October, 2009 This information is a gift from Hoder Investment Research (HIR). HIR wishes to thank the Coalition of Women for Peace (CWP) in Israel for information used in this report. Their web site is www.whoprofits.org. HIR encourages donations to their work. Items in blue were published by the New England United Methodist Divestment Task Force (www.neumc.org/divest) and have been updated here. Questions or suggestions may be directed to [email protected]. Neither Hoder Investment Research nor the Interfaith Peace Initiative assumes any legal responsibility for the accuracy of the material included in this report or for actions based thereon. Readers should go directly to the sources listed to learn more about the companies and assess their role in the occupation. 1. AFRICA ISRAEL INVESTMENTS LTD. (TLV:AFIL) (TLV:AFPR) (TLV:AFHS) builds settler housing in multiple settlements through its subsidiary construction firm, Danya Cebus. The company also owns the Israeli franchise of the real estate agency Anglo Saxon, which has a branch in the settlement of Ma'ale Edomim and offers apartments and houses in many settlements in the Occupied Territories. The company owns 26% of Alon Group, which is also involved with the settlements (see below). Note: Africa Israel Chairman and founder Lev Leviev and his brother are responsible for the settlements of Zufim (Tsufim) and Zufim North on land belonging to the village of Jayyous in the northern West Bank. They are being built by a Leviev company called Leader Management & Development. The village‘s water wells, greenhouses, and most of its agricultural land have been confiscated for these settlements.
    [Show full text]
  • Vanguard Total World Stock Index Fund Annual Report October 31, 2020
    Annual Report | October 31, 2020 Vanguard Total World Stock Index Fund See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports. Important information about access to shareholder reports Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your fund’s annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report. If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this report or by logging on to vanguard.com. You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this report or log on to vanguard.com. Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.
    [Show full text]
  • International Smallcap Separate Account As of July 31, 2017
    International SmallCap Separate Account As of July 31, 2017 SCHEDULE OF INVESTMENTS MARKET % OF SECURITY SHARES VALUE ASSETS AUSTRALIA INVESTA OFFICE FUND 2,473,742 $ 8,969,266 0.47% DOWNER EDI LTD 1,537,965 $ 7,812,219 0.41% ALUMINA LTD 4,980,762 $ 7,549,549 0.39% BLUESCOPE STEEL LTD 677,708 $ 7,124,620 0.37% SEVEN GROUP HOLDINGS LTD 681,258 $ 6,506,423 0.34% NORTHERN STAR RESOURCES LTD 995,867 $ 3,520,779 0.18% DOWNER EDI LTD 119,088 $ 604,917 0.03% TABCORP HOLDINGS LTD 162,980 $ 543,462 0.03% CENTAMIN EGYPT LTD 240,680 $ 527,481 0.03% ORORA LTD 234,345 $ 516,380 0.03% ANSELL LTD 28,800 $ 504,978 0.03% ILUKA RESOURCES LTD 67,000 $ 482,693 0.03% NIB HOLDINGS LTD 99,941 $ 458,176 0.02% JB HI-FI LTD 21,914 $ 454,940 0.02% SPARK INFRASTRUCTURE GROUP 214,049 $ 427,642 0.02% SIMS METAL MANAGEMENT LTD 33,123 $ 410,590 0.02% DULUXGROUP LTD 77,229 $ 406,376 0.02% PRIMARY HEALTH CARE LTD 148,843 $ 402,474 0.02% METCASH LTD 191,136 $ 399,917 0.02% IOOF HOLDINGS LTD 48,732 $ 390,666 0.02% OZ MINERALS LTD 57,242 $ 381,763 0.02% WORLEYPARSON LTD 39,819 $ 375,028 0.02% LINK ADMINISTRATION HOLDINGS 60,870 $ 374,480 0.02% CARSALES.COM AU LTD 37,481 $ 369,611 0.02% ADELAIDE BRIGHTON LTD 80,460 $ 361,322 0.02% IRESS LIMITED 33,454 $ 344,683 0.02% QUBE HOLDINGS LTD 152,619 $ 323,777 0.02% GRAINCORP LTD 45,577 $ 317,565 0.02% Not FDIC or NCUA Insured PQ 1041 May Lose Value, Not a Deposit, No Bank or Credit Union Guarantee 07-17 Not Insured by any Federal Government Agency Informational data only.
    [Show full text]
  • Made in Israel: Agricultural Exports from Occupied Territories
    Agricultural Made in Exports from Israel Occupied Territories April 2014 Agricultural Made in Exports from Israel Occupied Territories April 2014 The Coalition of Women for Peace was established by bringing together ten feminist peace organizations and non-affiliated activist women in Israel. Founded soon after the outbreak of the Second Intifada in 2000, CWP today is a leading voice against the occupation, committed to feminist principles of organization and Jewish-Palestinian partnership, in a relentless struggle for a just society. CWP continuously voices a critical position against militarism and advocates for radical social and political change. Its work includes direct action and public campaigning in Israel and internationally, a pioneering investigative project exposing the occupation industry, outreach to Israeli audiences and political empowerment of women across communities and capacity-building and support for grassroots activists and initiatives for peace and justice. www.coalitionofwomen.org | [email protected] Who Profits from the Occupation is a research center dedicated to exposing the commercial involvement of Israeli and international companies in the continued Israeli control over Palestinian and Syrian land. Currently, we focus on three main areas of corporate involvement in the occupation: the settlement industry, economic exploitation and control over population. Who Profits operates an online database which includes information concerning companies that are commercially complicit in the occupation. Moreover, the center publishes in-depth reports and flash reports about industries, projects and specific companies. Who Profits also serves as an information center for queries regarding corporate involvement in the occupation – from individuals and civil society organizations working to end the Israeli occupation and to promote international law, corporate social responsibility, social justice and labor rights.
    [Show full text]
  • Index Announcement
    INDEX ANNOUNCEMENT S&P Dow Jones Indices announces changes to the S&P / Harel Sector Indices London, March 25, 2014 – The S&P / Harel Indices are being rebalanced after the close of trading on Monday, March 31st. To follow are the list of indices, their constituents and weights, effective on that date. S&P / Harel Consumer Goods Index Name Weight Osem Investment 15.000% Strauss Group 15.000% Rami Levi Chain Stores Hashikma Marketing Ltd. 15.000% Delek Automotive Systems Ltd 13.123% FOX WIZEL LTD 12.116% Shufersal Ltd. 9.723% Delta-Galil Industries 8.012% Kerur Hldgs 1 3.139% CARASSO MOTORS LTD 2.133% Maabarot Products Ltd. 1.382% Neto ME Holdings Ltd 1.372% Alon Blue Square Israel Ltd 1.000% Gan Shmuel Food Industries 1.000% Dor Alon Energy In Israel (1988) 1.000% Neto Malinda Trading Ltd. 1.000% McGRAW-HILL S&P DOW JONES INDICES INDEX ANNOUNCEMENT S&P / Harel Energy Index Name Weight Isramco Negev 2 LP 15.000% Delek Group Ltd 15.000% Ratio Oil Exploration L.P. 15.000% Avner Oil & Gas Ltd LP 14.776% Paz Oil Company Ltd 11.899% Delek Drilling LP 10.483% Oil Refineries Ltd 5.959% Ormat Industries 4.638% Delek Energy Systems Ltd 1.245% Naphtha Israel Petroleum Corp 1.000% I.N.O.C.-Dead Sea L.P. 1.000% Givot Olam Oil Exploration L.P. 1.000% Alon Natural Gas Exploration Ltd. 1.000% Naphtha Explorations L.P. 1.000% LAPIDOTH-HELETZ LP 1.000% S&P / Harel Health Care Index Name Weight Teva Pharmaceutical Industries 15.000% Perrigo Company plc 15.000% Mazor Robotics Ltd.
    [Show full text]
  • El Al Israel Airlines
    Free Translation of the Hebrew Language 2011 Annual Report - Hebrew Wording Binding EL AL ISRAEL AIRLINES LTD. 2011 ANNUAL REPORT CHAPTER A - OVERVIEW OF THE ENTITY'S BUSINESS CHAPTER B - DIRECTORS' REPORT CHAPTER C - 2011 FINANCIAL STATEMENTS Free Translation of the Hebrew Language 2011 Annual Report - Hebrew Wording Binding ______________ 2011 ANNUAL REPORT CHAPTER A OVERVIEW OF THE ENTITY'S BUSINESS Free Translation of the Hebrew Language 2011 Annual Report - Hebrew Wording Binding El Al Israel Airlines Ltd 2011 Periodic Report Chapter A Description of the Corporation’s Business Free Translation of the Hebrew Language 2011 Annual Report - Hebrew Wording Binding Table of Contents Chapter 1: General 4 Chapter 2: Description Of The General Development Of The Corporation’s Business 7 1. THE CORPORATION’S ACTIVITY AND DESCRIPTION OF THE DEVELOPMENT OF ITS BUSINESS . 7 1.1 General ...................................................................................................................................... 7 1.2 Holdings Chart .......................................................................................................................... 8 1.3 Year and Form of Incorporation................................................................................................. 9 1.4 Changes in the Corporation’s Business ...................................................................................... 9 2. FIELDS OF ACTIVITY ..............................................................................................................
    [Show full text]
  • Old Westbury Funds
    SECURITIES AND EXCHANGE COMMISSION FORM N-Q Quarterly schedule of portfolio holdings of registered management investment company filed on Form N-Q Filing Date: 2012-03-27 | Period of Report: 2012-01-31 SEC Accession No. 0000930413-12-001798 (HTML Version on secdatabase.com) FILER OLD WESTBURY FUNDS INC Mailing Address Business Address 760 MOORE ROAD 760 MOORE ROAD CIK:909994| IRS No.: 232874698 | State of Incorp.:MD | Fiscal Year End: 1031 KING OF PRUSSIA PA 19406 KING OF PRUSSIA PA 19406 Type: N-Q | Act: 40 | File No.: 811-07912 | Film No.: 12715936 3027914394 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-07912 Old Westbury Funds, Inc. (Exact name of registrant as specified in charter) 760 Moore Rd. King of Prussia, PA 19406 (Address of principal executive offices) (Zip code) Andrew J. McNally BNY Mellon Investment Servicing (US) Inc. 760 Moore Rd. King of Prussia, PA 19406 (Name and address of agent for service) Registrant’s telephone number, including area code: 800-607-2200 Date of fiscal year end: October 31 Date of reporting period: January 31, 2012 Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5).
    [Show full text]
  • GC Influencers Have Been Chosen Following Research Among Private Practice Lawyers and Other In-House Counsel
    GC Influencers ISRAEL 2019 Tuesday, 16th July 2019 Crowne Plaza Tel Aviv Beach Programme Definitive global law guides offering comparative analysis from top ranked lawyers chambers.com @ChambersGuides Introduction JOANNA LANE Editor Canada, Africa, Caribbean, the Middle East and Offshore Chambers has provided insight into the legal market for more than 30 years. During this time, in-house lawyers and third-party experts have shared their views on the value and importance placed on the role of general counsel. The demands of driving growth in international markets encourage the steady increase in the functions required of the legal department and the emergence of new structures to facilitate successful outcomes. The general counsel and legal division general managers highlighted in this list are recognised for the contributions they have made and the examples they have set in the development of in-house legal culture. Research Methodology: Our GC Influencers have been chosen following research among private practice lawyers and other in-house counsel. We identified the key areas in which GCs have displayed substantial influence: • Effective management and development of an in-house team. • Navigation of substantial business projects and strategic business change. • Understanding the pressures faced within industry. • Bringing diversity & inclusion and CSR to the forefront of industry. • Ability to influence and respond to regulatory change. Our aim is to celebrate excellence within the legal profession. Our GC Influencers have created best practice pathways endorsed by both private practice and other in-house lawyers. In spotlighting their achievements, this list encourages collaboration among the in-house legal community. GC Influencers ISRAEL 2019 3 Engaging content, networking and celebration with leading General Counsel and top ranked lawyers globally.
    [Show full text]
  • Tel Aviv International Con(Fair)Ence
    Nov 29 – 30 | 2017 INNOVATION for Innovation For Good Life GOOD LIFE ISRAELI SPEAKERS INTERNATIONAL CON(FAIR)ENCE TEL AVIV INTERNATIONAL CON(FAIR)ENCE Gilad Erdan Gila Gamliel Avinoam Sapir Michal Dan-Harel Anat Gabriel Ophir Guttman Minister of Strategic Minister for Social SVP, Growth Markets Innovation Managing Director CEO Country Manager Affairs & Public Diplomacy Equality & Cluster Manager- Israel, Manpower Israel Unilever Israel P&G Israel Africa, Turkey & Ukraine Teva Yael Almog Dr. Sigal Shelach Adi Regev Amit Bracha Yaniv Shirazi Talma Biro Head of Stakeholders Deputy CEO JDC-Israel, Customer Development Executive Director General Manager CEO Israel Marketing Engagement Bank CEO of JDC-Tevet Director Unilever Israel Adam Teva V’Din Strauss Water Israel Association Hapoalim Yossi Heymann Michal Tzuk Asaf Azulay Revital Bitan Udi Rosenbaum Orry Ben-Porath Executive Director Director of Employment Regulation Head of Marketing Corporate Social Head of Procurement VP Sustainability, and Senior Deputy Director General Eshel at the Israeli Ministry of Labor, Strategy Bank Hapoalim Responsibility Manager Department Bank Leumi Marketing, Innovation Welfare and Social Services Intel Israel Shikun & Binui Group Shelly Keinan Ilanit Kabessa Cohen Nadav Perry Tamar Yassur Renana Peres Dana Jagerman VP Marketing Head of Corporate Innovation, Manager of First Executive Marketing Department SVP Retail Credit Coca Cola Israel Startups & Digital Business Unit Communications Vice President, School of Business Management Nestle Israel, Osem Group & External Relations, Head of Digital Banking Administration, Bank Hapoalim Delek Drilling Division Bank Leumi The Hebrew University לפרטים נוספים והרשמה לחצו כאן Nov 29 – 30 | 2017 INNOVATION for Innovation For Good Life GOOD LIFE ISRAELI SPEAKERS INTERNATIONAL CON(FAIR)ENCE TEL AVIV INTERNATIONAL CON(FAIR)ENCE Daniela Prusky-Sion Rachel Oz Zvi Baida Prof.
    [Show full text]
  • Israel Transactions Insights – Fall 2020.Pdf
    Israel Transactions Insights F a l l 2 0 2 0 1 Israel Transactions Insights – Fall 2020 T A B L E O F Overview CONTENTS The COVID-19 pandemic and resulting restrictions will likely decrease Israel’s real GDP by more than (7.0%) in 2020 after a decade of robust growth. Unemployment reached a peak of 4.56% in 2Q 2020 as business grappled with uncertainty and mandated closures. These YTD Market Index shutdowns, including in the hard-hit services industry, drove the spike in 4 jobless claims, with 88% of claims in April 2020 related to temporary Performance furloughs or terminations. 5 Impact of COVID-19 Despite the economic impact of COVID-19, Israel’s economic position remained resilient internationally. Israeli currency has become one of the strongest globally and Israel had the eighth lowest unemployment in Industry Sector the OECD in August of 2020. 11 Performance The technology sector had an increased productivity rate compared to M&A Activity the wholesale and retail sectors, as brick-and-mortar stores shut their 14 doors, while remote working and e-commerce trends accelerated. Israeli technology targets continue to lead M&A transaction activity for the year. As Israel faces a second lockdown in September 2020, 19 IPO Activity recovering sectors may recede and acquisition activity may decline. Israel’s government continues to monitor the impact of the COVID-19 20 Transaction Experience pandemic and has responded accordingly through economic relief programs. Specifically, the Bank of Israel has extended the payment of loans, provided economic stimulus packages, reduced the interest rate, provided unemployment relief and postponed tax deadlines.
    [Show full text]
  • S&P Dow Jones Indices Announces Changes to the S&P / Harel Sector
    S&P Dow Jones Indices announces changes to the S&P / Harel Sector Indices London, March 23, 2016 – The S&P / Harel Indices are being rebalanced after the close of trading on Thursday, March 31st. Below is the list of indices, their constituents and weights, effective on that date: S&P / Harel Consumer Goods Index Name Weight Osem Investment 15.00% Strauss Group 15.00% Delek Automotive Systems Ltd 15.00% Rami Levi Chain Stores Hashikma Marketing Ltd. 15.00% Delta-Galil Industries 15.00% Shufersal Ltd. 9.56% Neto ME Holdings Ltd 3.61% FOX WIZEL LTD 2.87% Kerur Hldgs 1 2.40% CARASSO MOTORS LTD 1.29% Maabarot Products Ltd. 1.27% Dor Alon Energy In Israel (1988) 1.00% Victory Supermarket Chain Ltd 1.00% Tiv Taam Holdings 1 Ltd. 1.00% Willy Food Investments Ltd. 1.00% S&P / Harel Energy Index Name Weight Isramco Negev 2 LP 15.00% Ormat Technologies 15.00% Paz Oil Company Ltd 15.00% Avner Oil & Gas Ltd LP 15.00% Delek Group Ltd 12.62% Delek Drilling LP 6.18% Oil Refineries Ltd 4.69% Ratio Oil Exploration L.P. 4.45% Jerusalem Oil Exploration 3.32% Delek Energy Systems Ltd 2.58% Energix - Renewable Energies Ltd 1.91% Naphtha Israel Petroleum Corp 1.24% Kenon Holdings Ltd. 1.00% I.N.O.C.-Dead Sea L.P. 1.00% Cohen Development & Industrial Buildings Ltd. 1.00% c S&P DOW JONES INDICES INDEX ANNOUNCEMENT S&P / Harel Health Care Index Name Weight Teva Pharmaceutical Industries 15.00% Perrigo Company plc 15.00% Mylan NV 15.00% Opko Health Inc 15.00% MannKind Corp 5.50% Compugen Ltd.
    [Show full text]
  • Director's Report for the Year Ended December 31, 2017
    Board of Directors' Report on the State of the Company's Affairs for the Year Ended December 31, 2017 Shufersal Ltd. Director’s Report For the Year Ended December 31, 2017 1 Board of Directors' Report on the State of the Company's Affairs for the Year Ended December 31, 2017 Shufersal Ltd. Contents 1. Explanations of the Board to the Company's Business Affairs 1.1 Principal data regarding the business affairs of the Company 1.1.1 Description of operating segments reported as business segments in the consolidated financial statements of the Company 1.1.2 Management’s discussion of principal results for 2017 1.1.3 Dividend 1.2 Analysis of results of operations 1.2.1 Analysis of the results for 2017 as compared to 2016 1.2.2 Analysis of the results for 2016 as compared to 2015 1.2.3 Analysis of the results for the three months ended December 31, 2017 as compared to the corresponding period last year 1.2.4 Condensed consolidated income statement and consolidated statements of comprehensive income for 2017 by quarters and for the fourth quarter of 2016 1.3 Financial position, liquidity and sources of finance 1.3.1 Cash flow – Analysis of the results for 2017 as compared to 2016 1.3.2 Cash flow – Analysis of the results for 2016 as compared to 2015 1.3.3 Liquid asset balances and financial ratios 1.3.4 Board of Directors’ discussion of the Company’s liquidity in view of the working capital deficit as at December 31, 2017 2.
    [Show full text]