Israel · Delayed Price · Currency is ILS · Price in ILA Azrieli Group Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw resilient performance amid war and FX headwinds, with NOI down 1% and net income up to ILS 540 million. Major investments in data centers and a successful ILS 1.4 billion equity raise support long-term growth, while malls and offices maintain high occupancy.
Fiscal Year 2025
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Record net income and NOI growth driven by data center expansion, despite security and economic challenges in Israel. Retail NOI declined due to one-time write-offs, while office and senior housing segments showed strong performance. Data center contracts and investments in Europe underpin future growth.
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Record NOI and strong growth in data centers and retail drove Q3 results, while FFO declined due to higher financing costs and near-full senior housing occupancy. Major investments and acquisitions position the group for future growth, with optimism in office and tech-driven segments.
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Q2 2025 saw record NOI growth of 17% year-over-year, led by strong office and data center segments, despite war-related impacts on retail and construction costs. Net profit doubled to ILS 320 million, and major investments and a CEO transition were announced.
Fiscal Year 2024
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Q2 2024 saw strong NOI and FFO growth, high occupancy, and robust expansion in data centers, despite lower net profit due to reduced revaluation gains. Strategic investments and conservative leverage continue, with a leadership transition and plans for a minority partner in the data center segment.