Record 2025 results at Ituran (NASDAQ: ITRN) with big dividend and buyback
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Ituran Location and Control Ltd. reported strong fourth quarter and full-year 2025 results, with revenues of $93.5 million and $359.0 million and GAAP net income of $15.3 million and $58.0 million, respectively.
Q4 revenue rose 13% versus 2024, driven mainly by telematics service subscriptions, which made up 76% of sales and helped lift gross margin to 50.5%. The subscriber base grew by 42,000 in the quarter to 2.63 million, supporting higher recurring revenue.
For 2025, revenue grew 7% and gross profit increased 11%, while net income rose 8% and diluted EPS reached $2.92. Cash flow from operations was $88.6 million, and net cash including marketable securities increased to $107.6 million. The board declared a $30 million fourth-quarter dividend, including a $20 million special payout, and approved a new $10 million share buyback authorization.
Positive
- Record 2025 performance with margin expansion: Revenue reached $359.0 million (up 7%), gross profit rose 11% to $178.6 million, and operating margin edged up to 21.5%, indicating both top-line growth and improved profitability.
- Robust cash generation and shareholder returns: Operating cash flow was $88.6 million and net cash climbed to $107.6 million, supporting a $30 million Q4 dividend (including $20 million special) and an expanded $10 million share buyback authorization.
Negative
- None.
Insights
Record 2025 results, strong cash, and sizable capital returns.
Ituran delivered record 2025 revenue of $359.0 million, up 7%, with gross profit up 11% and net income of $58.0 million. Q4 revenue grew 13%, supported by 221,000 net subscriber additions in 2025 and a base of 2.63 million subscribers.
Profitability remained solid, with 2025 operating margin at 21.5% and EBITDA of $96.2 million (26.8% of revenue). Operating cash flow of $88.6 million and net cash of $107.6 million as of December 31, 2025 underpin the balance sheet.
The company returned significant cash via dividends and buybacks. Dividends for 2025 equaled roughly 100% of annual net income, including a $20 million special dividend, and a new $10 million buyback authorization lifted total remaining capacity to about $13.5 million. Future filings may detail progress on new initiatives such as IturanMob, Big Data, and Credit Carbon as 2026 unfolds.
FAQ
How did Ituran (ITRN) perform financially in Q4 2025?
Ituran reported Q4 2025 revenue of $93.5 million, up 13% year-over-year, with net income of $15.3 million. Subscription services contributed 76% of sales, supporting a gross margin of 50.5% and diluted earnings per share of $0.77 for the quarter.
What were Ituran (ITRN)’s full-year 2025 revenues and profits?
For 2025, Ituran generated record revenue of $359.0 million, a 7% increase over 2024, and GAAP net income of $58.0 million. Gross profit rose 11% to $178.6 million, and fully diluted earnings per share increased to $2.92 from $2.70 a year earlier.
How fast is Ituran (ITRN)’s subscriber base growing?
Ituran added 42,000 net subscribers in Q4 2025 and 221,000 for the full year, including OEM additions. The total subscriber base reached about 2.63 million at December 31, 2025, supporting recurring telematics service revenue growth and higher subscription margins.
What dividends did Ituran (ITRN) declare for Q4 2025?
The board declared a total Q4 2025 dividend of $30 million, combining a regular quarterly dividend of $10 million with a $20 million special dividend. Management noted that dividends for 2025 represented roughly 100% of the year’s net income to shareholders.
How strong is Ituran (ITRN)’s cash position at year-end 2025?
As of December 31, 2025, Ituran held net cash, including marketable securities, of about $107.6 million, up from $77.2 million a year earlier. Operating activities generated $88.6 million in cash during 2025, supporting both investments and substantial shareholder distributions.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
March 5, 2026
Commission File Number: 001-32618
Ituran Location and Control Ltd.
(Exact name of Registrant as specified in its Charter)
________________________
3 Hashikma Street, Azour 58001, Israel
(Address of Registrant’s principal executive offices)
________________________
|
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
|
|
Form 20-F ☒ Form 40-F ☐
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):
|
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Yes ☐ No ☒
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):
|
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Yes ☐ No ☒
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Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
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Yes ☐ No ☒
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If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): ______
|
On March 5, 2026, Ituran Location and Control Ltd. issued a press release announcing Q4 2025 and full year of 2025 earnings results with revenues for Q4 and full year of 2025 of $93.5 million and $359.0 million,
respectively and net income on a GAAP-basis for Q4 2025 of $15.3 million and net income on a GAAP-basis for full year 2025 of $58.0 million.
The following document is attached hereto and incorporated by reference herein:
Exhibit 99.1 Press release, dated March 5, 2026 titled "Ituran Location & Control Reports Q4 and full year of
2025 Results"
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
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ITURAN LOCATION & CONTROL LTD.
|
|||
| (Registrant) | |||
|
By:
|
/s/ Eyal Sheratzky | ||
| Name: Eyal Sheratzky | |||
| Title: Co-Chief Executive Officer | |||
Date: March 5, 2026
Exhibit 99.1
ITURAN PRESENTS FOURTH QUARTER & FULL YEAR 2025 RESULTS
Record revenue and EBITDA driven by strong 2025 subscribers-adds;
Significant dividend totaling $30 million for the quarter and new additional buy-back of $10 million;
AZOUR, Israel – March 5, 2026. Ituran Location and Control Ltd. (NASDAQ: ITRN) today announced its consolidated financial results for the fourth quarter and
full year of 2025.
Highlights of Full Year 2025
| • |
2,630,000 subscribers at year-end, adding 221,000, net during the year.
|
| • |
Record financial metrics across the board with revenue at $359.0 million, an increase of 7% year-over-year.
|
| • |
Net income of $58.0 million, an increase of 8% year-over-year.
|
| • |
EBITDA of $96.2 million, an increase of 5% year-over-year.
|
| • |
Record full year operating cash flow of $88.6 million.
|
| • |
Year-end net cash position and marketable securities of $107.6 million.
|
| • |
Returns to shareholders: declared a total of $60 million in dividends for the year 2025.
|
Highlights of the Fourth Quarter of 2025
| • |
Added a net 42,000 subscribers in the quarter.
|
| • |
Revenue of $93.5 million, an increase of 13% year-over-year.
|
| • |
Strong gross margins: overall gross margin of 50.5%, with subscription gross margin at 59.5%.
|
| • |
Net income increased to $15.3 million, up by 10% year-over-year.
|
| • |
EBITDA grew to $25.3 million, a 12% increase year-over-year.
|
| • |
Record quarterly operating cash flow of $29.4 million.
|
| • |
The Board declared a special dividend of $20 million, in addition to the $10 million quarterly dividend policy, totaling $30 million.
|
| • |
$1.6 million in shares were bought back in the quarter and the Board authorized an increase of the buy-back program of a further $10 million.
|
Management Comment
Eyal Sheratzky, Co-CEO of Ituran, said, “2025 was a record year for Ituran marked by ongoing growth and continued improvements in profitability. We continued
to add new subscribers at a high rate, bringing in 42,000 during the fourth quarter, leading to a record year of 221,000 net subscriber-adds, which includes those gained through our OEM deal with Stellantis at the start of 2025. Looking ahead, we
expect to maintain our subscriber-add rate at 160,000-180,000 for 2026. The growth is driven by our long-term efforts in bringing customers new value-adding telematics and connected-car products and services.”
Mr. Sheratzky continued, “Given our success and strong cash generation, we announced a special dividend of $20 million and a new share buy-back program of $10
million, in addition to the regular dividend policy of $10 million per quarter. The dividends issued for 2025 represent a yield of 7% based on our year-end share price, and approximately 100% of our net income for the year. This signifies the
importance we place on sharing the fruits of our ongoing success with our shareholders.”
Mr. Sheratzky added, “2026 started with strong momentum in our strategic partnerships. We are continuously working to add new partners to our growing OEM
roster to drive further growth in our subscriber base. We recently announced a new agreement with Stellantis to launch the ‘Connect Fiat’ project in South America. This full end-to-end solution, spanning
hardware, services, and the user app, reinforces our leadership in the region in providing telematics services to OEMs and their customers, and our ability to deliver fully integrated connectivity at scale.”
Concluded Mr. Sheratzky, “After several years of investment in developing new offerings and services that significantly expand our total addressable market, we
expect to begin seeing the returns on these investments in 2026. In addition to Israel and Brazil, our first initiative, IturanMob, has expanded its operations into the United States market, where it targets small and mid-sized car rental companies,
streamlining and significantly improving the vehicle rental process. The second is our Big Data initiative, which leverages the large volumes of data we collect and monetizes it by offering valuable insights to third parties. The third initiative,
Credit Carbon, enables EV owners to monetize their low carbon footprint through Ituran’s advanced technological platform. I am very excited about these initiatives and strongly believe they have the potential to transform Ituran into a significantly
larger company over the coming years.”
Fourth Quarter 2025 Results
Revenues for the fourth quarter of 2025 were $93.5 million, a 13% increase compared with revenues of $82.9 million in the fourth quarter of 2024.
76% of revenues were from location-based service subscription fees, and 24% were from product revenues.
Revenues from subscription fees were $71.1 million, an increase of 15% over the fourth quarter of 2024 revenues.
The subscriber base expanded to 2,630,000 by the end of December 2025, marking an increase of 42,000 from the previous quarter.
Product revenues were $22.4 million, an increase of 5% year-over-year.
Gross profit for the quarter was $47.2 million (50.5% of revenues), a 15% increase compared with gross profit of $41.1 million (49.6% of revenues) in the
fourth quarter of last year.
The gross margin in the quarter on subscription revenues was 59.5%, compared to 59.6% in the fourth quarter of last year. The gross margin on products was
21.9% in the quarter, compared with 20.8% in the fourth quarter of last year. The variance in the product gross margin between quarters was due to the change in the product mix sold.
Operating income for the quarter was $20.4 million (21.8% of revenues), representing a 13% increase compared to $18.0 million (21.8% of revenues) in the
fourth quarter of last year.
EBITDA for the quarter was $25.3 million (27.1% of revenues), an increase of 12% compared with EBITDA of $22.5 million (27.2% of revenues) in the fourth
quarter of last year.
Net income for the fourth quarter of 2025 was $15.3 million (16.3% of revenues) or diluted earnings per share of $0.77, an increase of 10% compared to $13.8
million (16.7% of revenues) or diluted earnings per share of $0.70 in the fourth quarter of last year.
Cash flow from operations for the fourth quarter of 2025 was $29.4 million.
Full Year 2025 Results
Revenues for 2025 were a record $359.0 million, a 7% increase over the $336.3 million reported in 2024. 74% of revenues were from location-based service
subscription fees and 26% were from product revenues.
Revenues from subscription fees were $264.6 million, representing an increase of 9% over 2024.
Product revenues were $94.5 million, representing an increase of 1% compared with 2024.
Gross profit for the year was $178.6 million (49.7% of revenues). This represents an increase of 11% compared with gross profit of $160.6 million (47.8% of
revenues) in 2024. The gross margin in the year on subscription revenues was 59.0%, compared with 58.7% in 2024. The gross margin on products was 23.8%, compared with 19.5% in 2024, with the variance representative of the product mix sold during the
year.
Operating profit for 2025 was $77.0 million (21.5% of revenues), an increase of 8% compared with operating profit of $71.2 million (21.2% of revenues) in
2024.
EBITDA for 2025 was $96.2 million (26.8% of revenues), an increase of 5% compared to $91.3 million (27.1% of revenues) in 2024.
Net income in 2025 was $58.0 million (16.1% of revenues) or fully diluted earnings per share of $2.92, an increase of 8% compared with net income of $53.7
million (16.0% of revenues) or fully diluted earnings per share of $2.70 in 2024.
Cash flow from operations for the year was $88.6 million.
On the balance sheet, as of December 31, 2025, the Company had net cash, including marketable securities, of $107.6 million. This is compared with net cash,
including marketable securities, of $77.2 million, as of year-end 2024.
Buy Back
During the quarter $1.6 million in shares were purchased under the existing share buy-back program.
The Board of Directors authorized a new $10 million increase to the share buy-back program. This brings the total authorization, including that remaining, to approximately $13.5 million. Share
repurchases will be funded by available cash and will be made in accordance with SEC Rule 10b-18.
Dividend
The Board of Directors declared a total dividend of $30 million for the fourth quarter. This is made up of $10 million under the Company’s existing quarterly dividend policy and an additional $20
million as a special dividend.
The current dividend takes into account the Company’s continuing strong profitability, ongoing positive cash flow and strong balance sheet.
Conference Call Information
The Company will also be hosting a video conference call via the Zoom platform later today, Thursday, March 5, 2026 at 9am Eastern Time and 4pm Israel time.
On the call, management will review and discuss the results and will be available to answer investor questions.
To participate in the Zoom call, please register at the following link:
https://us06web.zoom.us/webinar/register/WN_hiXNOoC0TmePKQkUTrz0GA
For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran’s website.
Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Act of 1933, as amended. These forward-looking statements include,
but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans",
"believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our
control. Actual results may differ materially from these expectations due to, but not limited to, changes in global political, economic, business, competitive, market and regulatory factors. Forward-looking statements are not guarantees of future
performance, and involve risks, uncertainties and assumption that may cause our actual results materially from the expectations that we describe in our forward-looking statements. We disclaim any obligation to update forward-looking statements, even
if our assumptions and projections change, except where applicable law may otherwise require us to do so.
About Ituran
Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected car. Ituran offers Stolen Vehicle
Recovery, fleet management as well as mobile asset location, management and control services for vehicles, cargo and personal security for the retail, insurance and financing industries, as well as car manufacturers. Ituran is the largest OEM
telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel Aviv-based DRIVE startup incubator to promote the development of smart mobility technology.
Ituran's subscriber base has been growing significantly since the Company's inception to over 2.6 million subscribers using its location-based services with a market-leading position in Israel and
Latin America. Established in 1995, Ituran has approximately 2,800 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Colombia, India, Canada and the United States.
For more information, please visit Ituran’s website, at: www.ituran.com
|
Company Contact
|
International Investor Relations
|
|
|
Udi Mizrahi
udi_m@ituran.com
Deputy CEO & VP Finance, Ituran
(Israel) +972 3 557 1348
|
Ehud Helft
ituran@ekgir.com
EK Global Investor Relations
(US) +1 212 378 8040
|
ITURAN LOCATION AND CONTROL LTD.
Condensed Consolidated Financial Statements
as of December 31, 2025
ITURAN LOCATION AND CONTROL LTD.
Condensed Consolidated Financial Statements
as of December 31, 2025
Table of Contents
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Page
|
|
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Condensed Consolidated Interim Financial Statements:
|
|
|
Condensed Consolidated Balance Sheets
|
2-3
|
|
Condensed Consolidated Statements of Income
|
4
|
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Condensed Consolidated Statements of Cash Flows
|
5
|
|
ITURAN LOCATION AND CONTROL LTD.
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS
|
|
US dollars
|
||||||||
|
December 31,
|
||||||||
|
(In thousands)
|
2025
|
2024
|
||||||
|
Current assets
|
||||||||
|
Cash and cash equivalents
|
107,551
|
77,357
|
||||||
|
Investments in marketable securities
|
3
|
10
|
||||||
|
Accounts receivable (net of provision for credit loss)
|
58,517
|
47,688
|
||||||
|
Other current assets
|
48,360
|
46,067
|
||||||
|
Inventories
|
23,213
|
23,434
|
||||||
|
237,644
|
194,556
|
|||||||
|
Long-term investments and other assets
|
||||||||
|
Investments in affiliated companies
|
517
|
519
|
||||||
|
Investments in other companies
|
1,542
|
1,491
|
||||||
|
Other non-current assets
|
5,413
|
5,853
|
||||||
|
Deferred income taxes
|
15,684
|
12,273
|
||||||
|
Funds in respect of employee rights upon retirement
|
28,480
|
21,823
|
||||||
|
51,636
|
41,959
|
|||||||
|
Property and equipment, net
|
39,386
|
33,080
|
||||||
|
Operating lease right-of-use assets, net
|
8,878
|
8,947
|
||||||
|
Intangible assets, net
|
8,839
|
9,011
|
||||||
|
Goodwill
|
39,831
|
39,325
|
||||||
|
Total assets
|
386,214
|
326,878
|
||||||
2
|
ITURAN LOCATION AND CONTROL LTD.
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS (cont.)
|
|
US dollars
|
||||||||
|
December 31,
|
||||||||
|
(In thousands)
|
2025
|
2024
|
||||||
|
Current liabilities
|
||||||||
|
Credit from banking institutions
|
-
|
114
|
||||||
|
Accounts payable
|
19,082
|
18,847
|
||||||
|
Deferred revenues
|
27,206
|
22,857
|
||||||
|
Other current liabilities
|
57,817
|
45,904
|
||||||
|
104,105
|
87,722
|
|||||||
|
Long-term liabilities
|
||||||||
|
Deferred income taxes
|
531
|
418
|
||||||
|
Liability for employee rights upon retirement
|
35,080
|
27,593
|
||||||
|
Deferred revenues
|
14,876
|
12,231
|
||||||
|
Operating lease liabilities, non-current
|
4,745
|
5,562
|
||||||
|
Other non-current liabilities
|
2,391
|
2,095
|
||||||
|
57,623
|
47,899
|
|||||||
|
Stockholders' equity
|
217,564
|
185,227
|
||||||
|
Non-controlling interests
|
6,922
|
6,030
|
||||||
|
Total equity
|
224,486
|
191,257
|
||||||
|
Total liabilities and equity
|
386,214
|
326,878
|
||||||
3
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ITURAN LOCATION AND CONTROL LTD.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
|
|
US dollars
|
||||||||||||||||
|
Year ended
December 31, |
Three months period
ended December 31, |
|||||||||||||||
|
(in thousands, except share data)
|
2025
|
2024
|
2025
|
2024
|
||||||||||||
|
(unaudited)
|
||||||||||||||||
|
Revenues:
|
||||||||||||||||
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Telematics services
|
264,559
|
242,491
|
71,073
|
61,548
|
||||||||||||
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Telematics products
|
94,464
|
93,766
|
22,424
|
21,335
|
||||||||||||
|
359,023
|
336,257
|
93,497
|
82,883
|
|||||||||||||
|
Cost of revenues:
|
||||||||||||||||
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Telematics services
|
108,451
|
100,195
|
28,767
|
24,875
|
||||||||||||
|
Telematics products
|
71,995
|
75,442
|
17,518
|
16,892
|
||||||||||||
|
180,446
|
175,637
|
46,285
|
41,767
|
|||||||||||||
|
Gross profit
|
178,577
|
160,620
|
47,212
|
41,116
|
||||||||||||
|
Research and development expenses
|
20,806
|
18,090
|
5,152
|
4,483
|
||||||||||||
|
Selling and marketing expenses
|
18,378
|
15,271
|
4,887
|
3,980
|
||||||||||||
|
General and administrative expenses
|
62,456
|
56,238
|
16,870
|
14,667
|
||||||||||||
|
Other income, net
|
(91
|
)
|
(148
|
)
|
(109
|
)
|
(49
|
)
|
||||||||
|
Operating income
|
77,028
|
71,169
|
20,412
|
18,035
|
||||||||||||
|
Other non-operating expenses
|
(272
|
)
|
-
|
(272
|
)
|
-
|
||||||||||
|
Financing income (expenses), net
|
(1,854
|
)
|
80
|
(732
|
)
|
(85
|
)
|
|||||||||
|
Income before income tax
|
74,902
|
71,249
|
19,408
|
17,950
|
||||||||||||
|
Income tax expenses
|
(14,899
|
)
|
(14,579
|
)
|
(3,678
|
)
|
(3,345
|
)
|
||||||||
|
Share in profit (losses) of affiliated companies, net
|
(5
|
)
|
(123
|
)
|
26
|
178
|
||||||||||
|
Net income for the period
|
59,998
|
56,547
|
15,756
|
14,783
|
||||||||||||
|
Less: net income attributable to non-controlling interest
|
(2,031
|
)
|
(2,893
|
)
|
(479
|
)
|
(945
|
)
|
||||||||
|
Net income attributable to the company
|
57,967
|
53,654
|
15,277
|
13,838
|
||||||||||||
|
Basic and diluted earnings per share attributable to company's stockholders
|
2.92
|
2.70
|
0.77
|
0.70
|
||||||||||||
|
Basic and diluted weighted average number of shares outstanding
|
19,874
|
19,894
|
19,840
|
19,894
|
||||||||||||
4
|
ITURAN LOCATION AND CONTROL LTD.
|
||||
|
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
US dollars
|
||||||||||||||||
|
Year ended
December 31, |
Three months period
ended December 31, |
|||||||||||||||
|
(in thousands)
|
2025
|
2024
|
2025
|
2024
|
||||||||||||
|
(unaudited)
|
||||||||||||||||
|
Cash flows from operating activities
|
||||||||||||||||
|
Net income for the period
|
59,998
|
56,547
|
15,756
|
14,783
|
||||||||||||
|
Adjustments to reconcile net income to net cash from operating activities:
|
||||||||||||||||
|
Depreciation and amortization
|
19,170
|
20,083
|
4,930
|
4,497
|
||||||||||||
|
Loss in respect of trading marketable securities and other investments
|
8
|
107
|
-
|
22
|
||||||||||||
|
Increase in liability for employee rights upon retirement
|
3,298
|
3,199
|
1,164
|
954
|
||||||||||||
|
Share in losses (profit) of affiliated and other companies, net
|
277
|
123
|
246
|
(178
|
)
|
|||||||||||
|
Deferred income taxes
|
(1,607
|
)
|
(383
|
)
|
(716
|
)
|
958
|
|||||||||
|
Capital loss (gain) on sale of property and equipment, net
|
27
|
128
|
(72
|
)
|
114
|
|||||||||||
|
Decrease (increase) in accounts receivable
|
(3,728
|
)
|
(5,227
|
)
|
4,730
|
(435
|
)
|
|||||||||
|
Decrease (increase) in other current and non-current assets
|
6,843
|
(6,498
|
)
|
640
|
(1,170
|
)
|
||||||||||
|
Decrease in inventories
|
2,614
|
3,366
|
3,525
|
776
|
||||||||||||
|
Increase (decrease) in accounts payable
|
(2,136
|
)
|
176
|
(1,324
|
)
|
2,558
|
||||||||||
|
Increase (decrease) in deferred revenues
|
2,235
|
(804
|
)
|
(80
|
)
|
(990
|
)
|
|||||||||
|
Increase in other current and non-current liabilities
|
1,579
|
3,450
|
551
|
803
|
||||||||||||
|
Net cash provided by operating activities
|
88,578
|
74,267
|
29,350
|
22,692
|
||||||||||||
|
Cash flows from investment activities
|
||||||||||||||||
|
Increase in funds in respect of employee rights upon retirement, net of withdrawals
|
(3,324
|
)
|
(3,353
|
)
|
(1,002
|
)
|
(1,016
|
)
|
||||||||
|
Capital expenditures
|
(21,776
|
)
|
(13,632
|
)
|
(4,607
|
)
|
(4,488
|
)
|
||||||||
|
Return from (investments in) affiliated and other companies, net
|
(38
|
)
|
708
|
11
|
710
|
|||||||||||
|
Repayment of (Investments in) long-term deposit
|
57
|
(122
|
)
|
22
|
(41
|
)
|
||||||||||
|
Proceeds from sale of property and equipment
|
901
|
459
|
337
|
70
|
||||||||||||
|
Net cash used in investment activities
|
(24,180
|
)
|
(15,940
|
)
|
(5,239
|
)
|
(4,765
|
)
|
||||||||
|
Cash flows from financing activities
|
||||||||||||||||
|
Short term credit from banking institutions
|
(114
|
)
|
(433
|
)
|
-
|
(49
|
)
|
|||||||||
|
Acquisition of company shares
|
(3,100
|
)
|
-
|
(1,625
|
)
|
-
|
||||||||||
|
Dividend paid
|
(37,585
|
)
|
(28,050
|
)
|
(9,933
|
)
|
(7,759
|
)
|
||||||||
|
Dividend paid to non-controlling interests
|
(1,908
|
)
|
(3,286
|
)
|
(231
|
)
|
(25
|
)
|
||||||||
|
Net cash used in financing activities
|
(42,707
|
)
|
(31,769
|
)
|
(11,789
|
)
|
(7,833
|
)
|
||||||||
|
Effect of exchange rate changes on cash and cash equivalents
|
8,503
|
(2,635
|
)
|
2,157
|
(202
|
)
|
||||||||||
|
Net change in cash and cash equivalents
|
30,194
|
23,923
|
14,479
|
9,892
|
||||||||||||
|
Balance of cash and cash equivalents at beginning of period
|
77,357
|
53,434
|
93,072
|
67,465
|
||||||||||||
|
Balance of cash and cash equivalents at end of period
|
107,551
|
77,357
|
107,551
|
77,357
|
||||||||||||
Supplementary information on financing activities not involving cash flows:
In November 2025, the Company declared a dividend in an amount of US$10 million. The dividend was paid in January 2026.
5