MalamTeam's Revenue increased in 2018 by NIS 1.9 billion

MalamTeam reports its results for the fourth quarter of 2018 and for the full year and it is clear that the Group's revenues for the fourth quarter of 2018 totaled NIS 581.3 million, an increase of 8.1% compared to revenues of NIS 537.9 million in the corresponding quarter of 2017. Revenue in all of 2018 crossed the NIS 2 billion threshold, an increase of 4.9% compared to revenue in 2017, which amounted to NIS 1.9 billion.
Operating profit after neutralizing other income for the fourth quarter of 2018 amounted to NIS 35 million, an increase of 21.3% compared with the corresponding period in 2017, which stood at NIS 29 million. The increase is mainly due to the increase in gross profit. Operating profit after neutralizing other revenues in all of 2018 crossed the NIS 100 million mark for the first time - an increase of 4.7% compared with this figure in 2017, amounting to NIS 95.5 million.
Net income for the fourth quarter of 2018 was NIS 25.9 million, up 37.6% compared to NIS 18.8 million for the corresponding quarter last year. Net profit for the whole of 2018 amounted to NIS 68.3 million, an increase of 5.8% compared with net profit of 2017. The increase derives from exchange rate differentials and a decrease in the interest rate paid by the Group in respect of credit from banks.
Revenues in the outsourcing segment amounted to NIS 124.7 million in the fourth quarter of 2018, an increase of 19.1% compared to the corresponding period last year, mainly due to an increase in revenues from the Tishrei holiday, all of which occurred in the third quarter of 2018, An increase in organic activity and a greater number of workdays than in the corresponding period last year (due to the timing of the holidays). Revenues for the whole of 2018 from this segment amounted to NIS 436.3 million, an increase of 9.5% compared to 2017.
Revenues for the software and projects sector in the fourth quarter of 2018 amounted to NIS 127.6 million, an increase of 31.1% compared to the corresponding quarter last year. The increase is mainly due to the timing of the holidays and organic growth. Revenues for the whole of 2018 in this segment amounted to NIS 409.3 million, an increase of 15.9% compared to 2017.
Income from payroll, human resources and long-term savings totaled NIS 44.6 million in the fourth quarter of 2018, up 1.5% from NIS 43.98 million in the corresponding period last year. This is mainly due to organic growth in activity. Revenues for the whole of 2018 in this segment amounted to NIS 177.5 million, an increase of 4.2% compared to 2017.
Revenues from the infrastructure and hardware sector amounted to NIS 284.3 million in the fourth quarter of 2018 - a decrease of 2.6% compared with the same period last year. Revenues for the whole of 2018 in this segment amounted to NIS 977.9 million, a decrease of 0.9% compared to 2017.
On the date of approval of the annual financial statements, the company approved a dividend distribution of NIS 15.3 million for 2018, adding NIS 19.8 million distributed during the year, and NIS 16 per share for 2018. In addition, 2019 so that it will be at least NIS 30 million.
Shlomo Eisenberg, Chairman of MalamTeam, said: "The financial results for 2018 in general and in the fourth quarter in particular indicate continued improvement in MalamTeam's business performance in all key parameters. Among other things, this year we successfully launched the World Gate project as part of the agreement with the Customs Department. In the area of ​​provident fund operations, we signed a significant agreement for the operation of the provident funds and advanced training funds of the Psagot Investment House. These performance enabled the Company's Board of Directors to approve the distribution of an additional dividend in respect of 2018, and to increase the expected distribution in 2019. "
MalamTeam provides a range of end-to-end computing solutions in the field of information technology, while complying with international quality, service and professional standards. The group has over 30 years experience in the establishment, implementation and integration of information systems, and employs more than 3,300 experts in a variety of information technologies deployed on the company's sites and customers throughout the country.