Israel Shipyards Company reported a 14% increase in revenues in the third quarter to NIS 235 million

The Israel Shipyards Company reported a 14% increase in revenues in the third quarter to NIS 235 million, compared with NIS 206 million in the corresponding quarter last year. Operating profit increased by 35% to NIS 33 million, compared with NIS 24.7 million in the corresponding quarter last year.
"There are ships that we operate and there is an increase in transportation prices, which is of course related to disruptions in the supply chain, and in this sector we are enjoying the increase in prices." "Zvika Schechterman, CEO of Israel Shipyards, tells us." There is a shortage of ships in the world, and demand is growing, and it is important to remember that it takes time to produce ships - so until new ships enter, prices will continue to rise - and remain high. "
"Looking ahead, we continue to invest in the sectors in which we operate. We are running on the Haifa Port tender - it is a very important growth engine for us. In addition, we are working on nuclear silos, we are in the process of promoting silo construction at our shipyards - this is a very profitable field." Added
EBITDA in the quarter increased by 20.4% to NIS 46.5 million, compared with NIS 38.6 million in the corresponding quarter last year.
Net income amounted to NIS 26 million (approximately NIS 23.8 million attributable to shareholders), compared with a net profit of approximately NIS 18.5 million (approximately NIS 16.4 million attributable to shareholders) in the corresponding quarter last year.
The backlog of orders in the shipyard sector increased to NIS 824.4 million, compared with a backlog of NIS 262 million in the corresponding period. As of the date of publication of the report, the backlog of orders has increased to NIS 867 million.