JEC announces its financial results for the three month period ending March 31 2010:
Earnings attributed to Company shareholders amounted to 46 million NIS, compared to a loss of 100 million NIS in the corresponding period last year.
Total profit attributed to the Company's shareholders amounted to 39 million NIS, compared to a total loss of 113 million NIS in the corresponding period last year.
Equity attributed to the Company's shareholders amounts to 1,832 million NIS, compared to 1,776 million NIS in equity as of December 31 2009.
Net operating income from revenue-producing properties, including rental, management and maintenance fees, less building management and maintenance costs, amounted to 250 million NIS in the first quarter of 2010, compared to 251 million NIS in the corresponding period last year.
The Company's rental revenues from the reported period amount to 304 million NIS compared to 301 million NIS in the corresponding period last year.
Rental revenues in Israel amounted to 109 million NIS, compared to 105 million NIS in the corresponding period last year. This is a 3.8% increase. The change derives mainly from linking most of the rental fees to the Consumer Price Index.
The Company's equity amounts to 2,892 million NIS compared to 2,963 million NIS as of December 31 2009.
Kalkalit Jerusalem acts, independently and through its subsidiaries, including Industry Structures Ltd., owned by the Company on the date of this report's publication at a rate of 7.1%, in various fields of real estate, including purchasing and developing properties, renting, purchasing and selling revenue-producing real estate in the fields of commerce, manufacturing, industry, residential and offices. The Company is active in these areas in a large number of countries including Israel, the U.S., Canada, Germany, France, the Netherlands, Poland, Switzerland, Portugal, Ukraine, Russia, Belarus, Lithuania, Serbia, India and Thailand through overseas subsidiaries and trustees. Russian activities are conducted via the Mirland company held by the Company directly and indirectly at a rate of 52.65%.
As of the signing of the Financial Statements Kalkalit Jerusalem holds, along with others, rental space amounting to 3.6 million square meters, of which 1.9 million square meters is overseas. The Company's properties are rented to 7,571 tenants. The occupancy rate for the Company’s properties as of March 31 2010 is 89.50% compared to 89.09% on March 31 2010.